7.7 Property Division

Transcription

1 ASSET VALUATION, (Millions de Euros) 7.7 Property Division 2,312 2, Testa, a leader in the real estate sector in Spain and boasts a portfolio of top-level, prime-location properties leased to large companies and major clients. This enables the company to maintain its long-standing and stable occupancy levels of around 100%. The bulk of the Sacyr Group s property business currently comprises offices for rent in Barcelona, Madrid, Paris and Miami. The Group has an area of over 1.5 million m 2 in operation. In 2012, Testa recorded revenue of 252 million euros and EBITDA, without taking into account the results from asset sales, of 198 million euros. The rental portfolio amounted to billion euros, which allows the company to achieve a latent EBITDA of billion euros involving a margin of 80%. Shopping Malls Rental Housing Hotels Industrial Housing Others Backlog TESTA KEY FIGURES (Millions of Euros) Turnover EBITDA* 198, Net Profit Rental Portfolio 2,267 2,636 Asset Valuation The value of the Testa s assets at 31 December 2012, according to the specialised firms CB Richard Ellis and Tasaciones Hipotecarias, amounted to billion euros, with unrealised gains of billion euros. The offices, with a joint assessment of billion euros, the shopping centres valued at 313 million and the hotels, valued at 437 million euros, occupy the top positions in the ranking of assets. (*) without taking into account the results from asset sales. Asset Valuation (Millions of Euros) 2,312 2,468 Shopping malls Rental Housing Hotels Industrial Housing Other Backlog TOTAL 3,879 4,073 Unrealized capital gains 1,092 1,

2 Costa Brava Building. Madrid Business summary Testa currently has 1,522,992 m 2 in operation. Of these, 576,885 m 2 are offices. It also holds 13,039 parking spaces, of which 9,840 belong to the office buildings. Gescentesta, a company created for the administration and management of shopping centres, has 128,078 m 2 in this type of asset. With respect to rental housing, Testa manages a total of 1,534 flats and 1,338 parking spaces, representing over 114,505 m 2 and manages similar assets belonging to real estate funds. This represents an additional 775,770 m 2, 8,448 homes and 8,573 more parking spaces. Testa also owns 10 hotels with a capacity of 1,605 rooms. These assets add 124,611 m 2. All the hotel establishments are classified as 4 and 5-stars and are leased to the bestknown hotel chains. SURFACE AREA PER PRODUCT TYPE (m 2 ) Homes 114, , , ,885 Shopping Malls 71,958 71,958 Industrial 210, ,430 Hotels 124, ,611 Housing 9,429 9,429 Car Parks 397, ,653 Multi-use 18,521 18,521 TOTAL 1,532,164 1,522,

3 Revenue LEASES BY PRODUCT TYPE (%) Testa achieved revenues at 31 December 2012 of 252 million euros, generating Ebitda of million euros, without taking into account the results from asset sales, with the Ebitda over sale margin of 78.9%. The occupancy rate is 96.7% (Rentals). The rentable area at the end of the period amounted to 1, m 2, below the 1, m 2 registered at the end of 2011 due to the sale of the office building at Paseo de Gracia, 56, Barcelona. Hotels 66% 12% Shopping Malls 10% TURNOVER PER PRODUCT TYPE (Millions of euros) Homes Shopping Malls Industrial Hotels Residencias Aparcamientos Uso mixto 0.5 TOTAL Service Revenue TOTAL LEASES PER GEOGRAPHIC MARKET (Millions of euros) Madrid Catalonia Andalusia Balearic Islands Remaining Paris (France) Miami (USA) TOTAL Others TOTAL TURNOVER Homes 5% Logistics centres 3% Housing 1% Car Parks 1% Others 2% Occupancy by product TYPE % Ocup. m % 576,885 Hotels 98.1% 71,958 Shopping Malls 100.0% 124,611 Homes 96.4% 114,505 Logistics centres 74.1% 210,430 Residences 100.0% 9,429 Car Parks 100.0% 396,653 TOTAL 92.2% 1,504,

4 The central business districts of major cities, is the site chosen for the office rental assets of Testa. Madrid, with 355,271 m 2 and Barcelona with 94,555 m 2, Paris and Miami occupy a high percentage of owned assets. OFFICE BUILDING m 2 SURFACE AREA PARKING PLAZAS Building Ribera del Loira, 60 Edificio Endesa 54,849 1,253 Building Avenida del Partenón Campo de las Naciones 37, Building Avenida de Bruselas, 33 Edificio Indra 33, Complejo Princesa Complejo Princesa 33,668 0 Building Juan Esplandiú, Edificio O'Donnell 27, Parque Empresarial Ática Ática 7 23, Paseo Castellana 259 Torre Sacyr 21, Building Alcalá, 45 Alcalá, 45 18, Building, Avenida de Bruselas, 24 Edificio Procter 9, Building Avenida de Bruselas, 26 Edificio Codere 8, Building Costa Brava, 2-4 Raqueta 16, Building Castellana Paseo Castellana , Building Eucalipto, Los Jacintos 14, Building Príncipe de Vergara, 187 Príncipe de Vergara, , Building Pedro Valdivia, 10 Pedro Valdivia, 10 6, Building Juan de Mariana, 17 Juan de Mariana, 17 3, Building Josefa Valcárcel, 48 Josefa Valcárcel, 48 19, MADRID 355,271 6,368 Building Muntadas I Muntadas I 24, Building Avenida de Vilanova, Edificios Endesa 16, Building Sant Cugat I Sant Cugat 15, Building Diagonal 605 Diagonal , Building Sant Cugat II 10 San Cugat 10, Building Avenida Diagonal, 514 Diagonal 514 9, Building Muntadas II Muntadas II 3, BARCELONA 94,555 1,579 REST OF SPAIN 24, Tour Adriá Tour Adriá 53, PARIS (FRANCE) 53, Brickell Ave, 1111 Brickell Ave, ,378 1,105 MIAMI (USA) 48,378 1,105 TOTAL 576,885 9,840 Shopping centres Testa s portfolio of shopping centres consists of 4 shopping centres, plus those of real estate funds, which the company also manages, all of which are in the best shopping areas of capital and growing cities. SHOPPING CENTRES CITIES m 2 SURFACE AREA LOCAL Nº Porto Pi Palma de Mallorca 26, Larios Málaga 21, Complejo Princesa Madrid 13, Centro Oeste Madrid 10, TOTAL 71, Port Pi Shopping Centre, Palma de Mallorca

5 Hotels Testa has the best hotel chains among its clients. The hotels owned by the company are in singular buildings, well located and with excellent connections Housing The new plans for the development of rental housing, both at the state and regional level, and the economic and fiscal measures implemented by the Government are helping to revive this market. Testa was the first private operator in Spain to create a specific subsidiary for this segment, Testa Residencial. HOTELS CITY CHAIN SURFACE AREA ROOMS CATEGORY Eurostars Madrid Tower Madrid Hotusa 31, * * * * * Eurostars Grand Marina Barcelona Hotusa 20, * * * * * AC Forum Barcelona AC 13, * * * * NH Sanvy Madrid NH 12, * * * * Puerta Castilla Madrid Silken 13, * * * * Tryp Barcelona Aeropuerto Barcelona Sol Meliá 10, * * * * Tryp Oceanic Valencia Sol Meliá 9, * * * * Tryp Alameda Málaga Sol Meliá 6, * * * * Tryp Jerez Jerez Sol Meliá 4, * * * * Eurostars Gran Madrid Madrid Hotusa 3, * * * * TOTAL 124,611 2,079 Senior residences The growing need for services for the elderly suggests that the business of nursing homes tend to gain stability and projection into the future. Testa s presence in this business is focused on the development of the residences, which are then leased to a specialised operator, thus eliminating the risk of management. HOUSING SURFACE AREA PARKING HOMES Plaza Castilla 20, Valdebernardo 7, Conde Xiquena 17 1, Alcorcón 10, MADRID LIBRE 40, Pavones Este 7, Usera 11, Leganés 6, Mostoles I 5, Mostoles II 4, MADRID VPO 36, Alameda de Osuna 9, VIVIENDA LIBRE REG. ESPECIAL 9, Sta. María Benquerencia 10, TOLEDO LIBRE 10, Benta Berri 18, S. SEBASTIÁN CONCESIONES 18, TOTAL 114,505 1,338 1,534 SENIOR RESIDENCES CITY SURFACE AREA ROOMS BEDS Faro de Hércules La Coruña 5, El Viso Madrid 3, TOTAL 9,

6 Office building in Calle Josefa Valcárcel 48, Madrid. Logistics centres The activity of logistics centres and warehouses has remained at a very high level of occupancy, confirming the good prospects that this business has for Testa. The company, focused on the Madrid- Barcelona corridor and, especially, the Henares corridor, continues to increase its profitability in this segment. Testa logistics centres have a combined area of 210,430 m2 in Barcelona, Zaragoza, Guadalajara and Coslada in Madrid. LOGISTICS CENTRES LOCATION m 2 Area Cabanillas del Campo (Guadalajara) 70,134 Alovera (Guadalajara) 39,879 Coslada (Madrid) 35,934 Azuqueca de Henares (Guadalajara) 27,995 Pedrola (Zaragoza) 21,579 Lliça de Vall (Barcelona) 14,909 TOTAL 210,