PREZENTACJA WYNIKÓW ZA 2014 R.

Transcription

1 PREZENTACJA WYNIKÓW ZA 2014 R RESULTS March 25th,

2 Agenda About us Compe--ve advantage Financial insights Market landscape Unique selling points Property por?olio Office Mul-purpose Commercial Other 2

3 About us Through our Office Plus concept we aim to create the most sought- a8er office space in Poland. What we do: We develop and manage real estate. We specialize in complex development and revitaliza-on projects with above- average profit margins How we do it: We invest in our key projects and create comfortable, highest- quality space for our tenants We execute our projects comprehensively, employing over 60 specialists from different fields of the real estate business Why we do it: About Capital Park We want to create projects unique in the Polish market, adhering to the principles of sustainable development and mee-ng the needs of a wide range of tenants Our achievements in 2014 We completed nearly m 2 of gross leasable area We increased our lease revenue by 42% The value of our property por?olio grew by 16% in EUR and by 20% in PLN We invested over PLN 300 million in the construc-on of our proper-es Eurocentrum, Royal Wilanów and Street Mall Vis à Vis Łódź and in prepara-ons for several new projects 37 out of 60 completed proper-es are leased in 100% We established a posi-ve percep-on in the media 3

4 About us Currently we are developing two proper-es in Warsaw with a total area of over 64 thousand m 2 and a modest office property in Krakow. We are also preparing the construc-on of a hotel property in Gdańsk. 75 PROPERTIES m 2 PORTFOLIO AREA 37 CITIES ACROSS POLAND 79% OF PROPERTY VALUE IS IN WARSAW PLN 1.6 bil VALUE OF PROPERTY PORTFOLIO PLN 2.8 bil TARGET PORTFOLIO VALUE 4

5 Compe00ve advantages People can now choose where to work and work becomes their life. Tenants need work- friendly space and that is what we offer. Thanks to our unique Office Plus concept our properaes are unlike any other and their commercializaaon conanues despite a negaave market trend. FOCUS ON TENANTS' NEEDS Our solu-ons include Warsaw's first concierge service for tenants, a wide variety of catering services, a mini SPA, fitness offerings, a car wash and personalized interior arrangement Increase in commercializa-on of completed proper-es QUALITY & ARCHITECTURE It posi-ons our proper-es above market standards and posi-vely impacts the corporate iden-ty of our tenants SUSTAINABLE DEVELOPMENT Thanks to the principles of sustainable development our proper-es offer lower maintenance costs and meet the goals of our tenants Source: Knight Frank, Capital Park 5

6 Financial insights Selected insights from the profit and loss statement PLN, thousands Lease income Net opera-ng income Revalua-on of proper-es ( ) (60 976) Interest cost (25 696) (15 568) (18 906) Net income ( ) (63 615) Revenue by segment Office Revenue structure by segment MulPpurpose Commercial Office Multipurpose Commercial Other properties Others 6

7 Financial insights Increase in property value Capital expenditures structure 329 mln PLN Capital expenditures Acquiring property Sale of property Revaluation Increase in completed proper-es share Stable financial situa-on +PLN 407 million Completed Under construction In preparation 7

8 Financial insights Decrease in NAV Increase in por?olio value Net debt ra-o 5- year loan and bond maturity (as of 2/28/2015) Notes Credit facilities 8

9 Market landscape Decreasing unemployment Upcoming trend reversal Source: Savillis Source: Cushman & Wakefield Projected compression of capitaliza-on rates Largest office proper-es scheduled for comple-on in % 7% 6% North Gate DEKA Immobilien 2011 Crown Orange HQ Focus Square Qatar InvestmentFiltrowa Invesco Authority 2011 RREEF Source: Cushman & Wakefield Zebra Tower Union Investment 2011 International Green Senator Lipowy Business Centre Corner Union Business Park DEKAImmobilien RREEF Investment WP. Carey Source: Raport Savillis, Capital Park 9

10 Unique Selling Points Every company is unique. Its offices are the best place to show it. We want to help build unique companies. Every Capital Park property has a unique concept, tailored to tenants' needs, its environment and its architecture. Thanks to the Office Plus concept Capital Park proper-es stand out in the market, which enables effec-ve commercializa-on despite increased supply. 1. OFFICE PLUS Unique Selling Points 2. MULTIPURPOSE PROPERTIES Tenant sa-sfac-on study The Office Plus concept is based on the understanding of tenants' needs. In order to achieve it, we study their sa-sfac-on levels. We conduct our research using the CATI (Computer Assisted Telephone Interview) method and regularly discuss the results with our tenants. In 2014 we received excep-onally good feedback, including a 98% rate of tenants that would lease space in our proper-es again in the future. Results of tenant sa-sfac-on study Source: Capital Park, study was conducted on 143 individuals in Jun- Jul

11 Office projects Project name Project stage City 1 NOI (Net Opera-ng Income) average net lease income projected by an appraiser in the property appraisal report as of 12/31/2014. Actual income achieved in the future may vary. 2 Expenditures to be incurred, enhanced by es-mated developer margin, projected in the appraisal report. Contracts with general contractors have been signed only for EC (Delta) and Topos. Actual expenditures incurred in the future may vary from projec-ons. EUROCENTRUM BETA, GAMMA GLA (m 2, thousands) Parking capacity EUROCENTRUM DELTA Current leased area Book value 12/31/2014 Yield Projected NOI 1 RACŁAWICKA POINT Projected investment ater 12/31/ EC Beta, Gamma Completed Warsaw % ,70% EC Alpha Completed Warsaw % ,50% Racławicka Point Completed Warsaw % ,00% EC Delta Under construc-on Warsaw ,70% Topos Under construc-on Krakow 1-40% ,50% Piano House In prepara-on Gdańsk ,50% Total m 2 GLA June 2014 comple-on date m 2 GLA Q scheduled comple-on m 2 GLA May 2011 comple-on date 11

12 Mul0purpose projects Project name Project stage City GLA (m 2, thousands) Parking capacity Current leased area Book value 12/31/ NOI (Net Opera-ng Income) uśrednione przychody z najmu nexo, zakładane przez rzeczoznawcę w raporcie z wyceny nieruchomości na dzień 12/31/2014 r., mogą się różnić od faktycznych przychodów osiągniętych w przyszłości 2 Nakłady do poniesienia, powiększone m.in. o szacowaną marżę deweloperską, przyjęte w operacie szacunkowym. Umowa z generalnym wykonawcą została zawarta tylko w projekcie Royal Wilanów. Grupa jest w trakcie przetargu na generalne wykonawstwo inwestycji ArtN. Faktyczne poniesione w przyszłości nakłady mogą się istotnie różnić od zakładanych. Yield Projected NOI 1 Projected investment ater 12/31/ Royal Wilanów Under construc-on Warsaw % ,00% ArtN In prepara-on Warsaw % ,50% Sobieskiego 104 Completed Warsaw % ,50% Neptun House In prepara-on Gdańsk % ,50% suma ROYAL WILANÓW ARTN SOBIESKIEGO m 2 GLA Q III 2015 scheduled comple-on m 2 GLA Q I 2018 scheduled comple-on m 2 GLA Q III 2007 date of acquisition 12

13 Commercial projects Project name Project stage City GLA (m 2, thousands) Parking capacity Current leased area Book value 12/31/ NOI (Net Opera-ng Income) uśrednione przychody z najmu nexo, zakładane przez rzeczoznawcę w raporcie z wyceny nieruchomości na dzień 12/31/2014 r., mogą się różnić od faktycznych przychodów osiągniętych w przyszłości Yield Projected NOI 1 Projected investment ater 12/31/2014 Vis à Vis Radom Completed Radom 4-100% ,50% Vis à Vis Łódź Completed Łódź 6-93% ,00% Vis à Vis Toruń Completed Toruń 3-94% ,25% Pozostałe, w tym zarządzane na zlecenie Completed Polska 17-90% suma Vis à Vis Radom Vis à Vis Łódź Vis à Vis Toruń m 2 GLA Nov 2013 comple-on date m 2 GLA Dec 2014 comple-on date m 2 GLA Sep 2014 date of acquisipon 13

14 Contact Joanna Zielińska M: