JHSF Participações S.A. JHSF3

Transcription

1 JHSF Participações S.A. JHSF3

2 Disclaimer Management makes forward-looking statements concerning future events that are subject to risks and uncertainties. These statements are based on its beliefs and assumptions and on information currently available to the Company. Forward-looking statements include statements regarding JHSF s intentions, estimates or current expectations or those of its Board of Directors or Executive Officers. Forward-looking statements also include information concerning the Company s possible or presumed future operating results, as well as statements preceded by, followed by, or including the words believes, may, will, continues, expects, envisages, intends, plans, estimates or similar expressions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions because they relate to future events and therefore depend on circumstances that may or may not occur. JHSF s future results and shareholder value creation may differ materially from those expressed in or suggested by these forward-looking statements. Many of the factors that will determine these results and values are beyond the Company s ability to control or predict. 2

3 JHSF3 is Novo Mercado listed Company of the Income Shopping Malls segment, with a Controlling family who successfully developed major real estate projects in Brazil over the past 40+ years and have a significant portion of their time, assets and income associated with the Company Auriemo Family 77.3% Management and Treasury 0.5% Free Float 22.2% Global 40% Local 60% MarketCap of R$ 1,070 million (US$ 350 million) professional management with execution capacity provides a attractive platform for investors 3

4 We develop innovative and unparalleled projects in shopping malls, hotels, restaurants, rental properties and high-end real estate and have invested in assets which will increase GLA & services revenues in resilient market niches 4

5 Portfolio provides attractive upside on already identified projects Malls More than 1,3 million sq ft with additional GLA potential, mainly in São Paulo high-end neighborhoods Real Estate Development Unique projects in Brazil and Uruguay to serve high-end families Hotels & Restaurants - FASANO Prime locations, premium restaurant brands and international growth upside existing platform will boost ROIC on additional capital 5

6 Our projects pipeline comprises additional malls in high-end neighborhoods, two properties in NY and an executive airport Same block as Fasano hotel Sao Paulo 3 Synergic with Cidade Jardim mall Located at Central Park A breakthrough solution core land investments already made and licenses obtained, reducing execution risks and delays, not yet priced 6

7 Malls 5 shopping malls Cidade Jardim (Sao Paulo, luxury) Bela Vista (Salvador) Metrô Tucuruvi (Sao Paulo) Ponta Negra (Manaus, luxury) Catarina Fashion Outlet (Sao Paulo outskirts) Ongoing projects CJ Shops (Sao Paulo, luxury) Outlet expansion Cidade Jardim s expansion Mall related businesses Retail luxury brands operations Energy and telecom provider Mall and parking lot manager Growth pipeline already set, in Sao Paulo Sizeable and adjacent areas already acquired surrounding high-end Cidade Jardim Mall Reserva I Reserva II Reserva III 7

8 Malls JHSF Portfolio CIDADE JARDIM METRÔ TUCURUVI CATARINA FASHION OUTLET Sao Paulo SP Inaugurated on May 2008 GLA: 39,409 sq.m BELA VISTA Sao Paulo SP Inaugurated on April 2013 GLA: 32,796 sq.m PONTA NEGRA São Roque SP Inaugurated on October 2014 GLA: 20,280 sq.m CIDADE JARDINS SHOPS Salvador - BA Inaugurated on July 2012 Total GLA: 51,185 sq.m JHSF GLA: 51% Manaus - AM Inaugurated on August 2013 Total GLA: 36,501 sq.m JHSF GLA : 80% Sao Paulo SP Estimated Opening: 1Q17 GLA: 3,100 sq.m 8

9 Malls - 1Q15 Operating Indicators CONSOLIDATED CIDADE JARDIM BELA VISTA METRO TUCURUVI PONTA NEGRA CATARINA OUTLET ¹ Revenue Growth +16.2% +23.9% -6.5% +5.1% -9.1% - Sales Growth +29.5% +9.5% +31.1% +9.2% +3.1% - SSS +9.4% +3.6% +23.9% +10.1% +1.9% - SAS +9.1% +2.7% +24.5% +10.9% +1.3% - SSR +9.0% +4.9% +17.8% +9.7% +4.7% - SAR +7.1% +3.4% 17.5% +6.2% +2.8% - Leased Area 94.3% 99.5% 94.7% 97.6% 82.9% 98.2% Occupancy Rate +13.2% +12.0% +14.3% +15.5% +16.6% +8.3% ¹ Inaugurated on October

10 Real Estate Developments Real Estate Estimated Cash Flow - in BRL million Fazenda Boa Vista Horto Bela Vista Bosque Cidade Jardim Residência Cidade Jardim 64.9 Others Total 1,380.8 Landbank Grand Total 1,

11 Hotels & Restaurants Luxury Hotels Sao Paulo Rio de Janeiro Fazenda Boa Vista (Sao Paulo outskirts) own property Las Piedras (Punta del Este, Uruguay) own property Luxury Restaurants 13 operations, located in Sao Paulo and Rio Growth Fasano Hotels: New York, major cites (Belo Horizonte & Salvador) and highend Brazilian beach destinations (Trancoso & Angra dos Reis) Restaurants: 2 new operations in 2015 in Sao Paulo and Rio Asset light model 11

12 Ongoing Projects 2 Income Properties in NY Sao Paulo Catarina Executive Airport Residential building (815 5th Ave) - Refurbishing: ready by 2H16 Hotel building (16-18W 57th Street) - 2 blocks from Central Park - Start-up by 2H18 - Fully dedicated to executive aviation - First of a kind in Brazil (similar to Teterboro) - Located 30 drive or 10 flight from Sao Paulo - Start-up by 2H16 12

13 JHSF3 Selected Financials LTM - in BRL million Net Revenues 611 Gross Profit 278 Gross Margin 45% SG&A (175) Adjusted EBITDA 171 Adjusted EBITDA Margin 28% Net Financial Result (163) Total Assets 5,958 Cash & Equivalent 284 Net Debt (1.589) Shareholders Equity 2,363 Financials available at 13

14 IR Contacts: +55 (11) 3702-JHSF (5473)

15 1Q15 Highlights Consolidated Net Revenue: Growth fueled by Shopping Malls and Hotels & Restaurants Shopping Malls Indicators: Net Revenue +7.8%, SSS +9.4%, SAS +9.1%, SSR +9.0%, SAR +7.1% Recurring Operating Expenses: reduction of 20.9% Cash Flow from operating activities: R$70.8 million Successful Capital Increase of R$192.1 million Opening of Ralph Lauren store and Parigi Bistrot, both at Shopping Cidade Jardim (Sao Paulo) Permit to construction of the Company s 6 th mall Cidade Jardim Shops (São Paulo) 15

16 Delivering the growth strategy... Shopping Malls +10 p.p. Better performance of the existing shopping malls + Inauguration of Catarina Fashion Outlet, in October/ and increasing the Malls EBITDA share in 1Q15 16

17 SHOPPING MALLS performance Organic growth 13% + Catarina Fashion Outlet Organic growth 8% + Catarina Fashion Outlet 1Q15 performance outperformed ABRASCE average SSS: +9.4%/ SAS: +9.1%/ SSR: +9.0%/ SAR: +7.1% 17

18 Real Estate development impacted by two points Macroeconomic Scenario Real Estate sector going through adjustments Inventory: +36%¹ (São Paulo State) Sales speed: -50%¹ 2. Sales Cancellations Sales cancellations totaling R$7.3 million...which were offset by the operating expenses reduction ¹ Source: Secovi and Embracorp 18

19 Hotels & Restaurants Hotels Revenue: +16.7% RevPar: +17.7% Occupancy rate: from 69.6% to 74.4% Restaurants Revenue: +7,5% Average couvert: +10,9% Acquisition in November 2014 Opening of Parigi Bistrot Termination of Gero Caffé and Gero Mezzanino 19

20 Consolidated Financial Figures 20

21 Indebtedness and receivables Available Cash and Indebtness (in million of R$) Mar-15 Dec-14 Var. % Gross Debt (2.529,8) (2.466,0) 2,6% Cash and Equivalents 283,9 369,5-23,2% Performed Accounts Receivable 505,0 540,3-6,5% International Debt 552,8 459,8-6,5% Capital Increase in 1H15 152,1 192,1 Adjusted Net Debt (1.035,9) (904,2) 16,5% NOTE: Gross Bank Debt, including costs to be amortized totally R$40.2 million NOTE: Receivables subsequent to 2019 are immaterial e were consolidated in