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Warsaw, 25 May 2017.
Presentation of Resultsfor the 1st quarter of 2017 r.
About us
The most important events in 1Q 2017
Market environment
Financial data
Real property portfolio
2
AGENDA
3
34cities throughout Poland
68properties
271 thousandsq.m.
portfolio area
PLN 3.4 billiontarget portfolio value
84 %property value in Warsaw
PLN 2.0 billioncurrent property portfolio
value
We are one of the leading and most dynamicallydeveloping investment companies on the realproperty market in Poland. We have been involvedin developing and managing real properties for 14 years, specializing in complex project with higherthan average margins.
ABOUT US
Gdańsk
Warszawa
Kraków
4
MOST IMPORTANT EVENTS IN 1Q 2017.
Leasing of 9.7 thousand sq.m. of of new office space and extension of
lease agreements for 4.4 thousand sq.m.
The Eurocentrum Office Complex building obtained the Platinum LEED
certificate
Sale of over 50% of the REIA FIZ II Fund portfolio
Consistent growth in rental revenues from completed projects
First private placement of Eurobonds
ROYAL SNOWPARK, ROYAL WILANÓW
5
MOST IMPORTANT EVENTS IN 1Q 2017.
In 1Q 2017 we leased 9.7 thousand sq.m. of office space and extendedlease agreements for another 4.4 thousand sq.m., which confirms theeffectiveness of our innovative Office Plus concept.
Leased space in slected office projects
85% 84%
43%
78%
1% 7%
12%
-13%
10%
33%
55%
78%
100%
Royal Wilanów EC Beta&Gamma EC Delta EC Alfa
Stan na 31.12.2016 Stan na 31.03. 2017
MARKET OVERVIEW
7
8
FINANCIAL DATA
Selected data from the profit and loss account 3 months 2017 3 months 2016 12 months 2016
PLN'000 PLN'000 PLN'000
Rent revenues 29 612,0 24 754,0 107 732,3
Operating profit 21 830,0 18 537,0 81 411,1
Margin 74% 75% 76%
Overhead costs and companies operation costs (4 226,0) (3 347,0) (16 155,0)
Operating profit adjusted by property revaluation 15 227,0 14 427,0 55 524,9
Investment properties revaluation (100 014,0) 4 791,0 68 889,3
Operating profit (84 787,0) 19 218,0 124 414,1
Net profit/loss of the Group (52 499,0) 5 292,0 35 211,4
9
FINANCIAL DATAProperty portfolio (in PLN million)
Property portfolio structure Increase in property value (PLN million)
2 084
2 002
17 -…
1 400
1 800
2 200
31.12.2016 Nakładyinwestycyjne
Aktualizacjawyceny
Fit outs 31.03.2017
79% 81% 80%
20% 18% 18%1% 1% 2%
0%
20%
40%
60%
80%
100%
31.03.2016 31.12.2016 31.03.2017
ukończone w przygotowaniu w budowie
1 992 2 0842 002
462
464
466
468
470
472
474
476
0
500
1 000
1 500
2 000
2 500
31.03.2016 31.12.2016 31.03.2017
mEU
R
mP
LN
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FINANCIAL DATA
2,95
8,83
2,68
0,311,66
1,62
1,65 0,22 0,63 0,41 0,10 0,19 0,10 0,13 0,05
0,00
2,00
4,00
6,00
8,00
10,00
12,00
11
FINANCIAL DATANet asset value adjusted by minority shareholdings (PLN million)
NAV/akcję (PLN)
Cash (PLN million)
Debt ratio (net debt/assets) Credits and bonds maturity dates within a 5 year period (as at 31.12.2016)
97
157
176
0
40
80
120
160
200
31.03.2016 31.12.2016 31.03.2017
0
20
40
60
80
100
120
140
160
180
31.03.2018 31.03.2019 31.03.2020 31.03.2021 31.03.2022
mln
PLN
Obligacje
Kredyty
966 989 940
8,50
8,60
8,70
8,80
8,90
9,00
9,10
9,20
9,30
9,40
0
200
400
600
800
1 000
1 200
31.03.2016 31.12.2016 31.03.2017
45% 46% 45%
0%
10%
20%
30%
40%
50%
60%
31.03.2016 31.12.2016 31.03.2017
12
OFFICE PROJECTS
EUROCENTRUM BETA, GAMMA EUROCENTRUM DELTA RACŁAWICKA POINT
Area: 43 thousand sq.m. GLA
Completion date – June 2014
Yield: 6.66%
Book value: PLN 464 million31.03.2017
Current occupancy rate: 91 %
Area: 27 thousand sq.m. GLA
Completion date – February 2016
Yield: 6.66%
Book value: PLN 254 million31.03.2017
Current occupancy rate: 55 %
Area: 2 thousand sq.m. GLA
Date of completion – May 2011
Yield: 7.70%
Book value: PLN 31 million
31.03.2017
Current occupancy rate: 100 %
13
MULTI-PURPOSE PROJECTS
ROYAL WILANÓW ARTN HAMPTON BY HILTON
Area: 36 thousand sq.m. GLA
Completion date – August 2015
Yield: 7%
Book value: PLN 413 million31.03.2017
Current occupancy rate: 86 %
Area: 65 thousand sq.m. GLA
Completion date – I H 2019
Yield: 5.60%
Book value: PLN 28531.03.2017
Current occupancy rate: 40% commercial and services space
Area: 7 thousand sq.m. GLA (156 rooms)
Completion date – I Q 2018
Yield: 7.25%
Book value: PLN 31 mln 31.03.2017
Current occupancy rate: 81%
14
COMMERCIAL PROJECTS
GALERIA ZASPA VIS A VIS ŁÓDŹ ETC SWARZĘDZ
Area: 9 thousand sq.m. GLA
Completion date – April 2016
Yield: 7.50%
Book value: PLN 63 million31.03.2017
Current occupancy rate: 83%
Area: 6 thousand sq.m. GLA
Completion date – December 2014
Yield: 8%
Book value: PLN 36 million31.03.2017
Current occupancy rate: 98 %
Area: 20 thousand sq.m. GLA
Completion date – 3Q 2017
Yield: 7.50%
Book value: PLN 102 million31.03.2017
Current occupancy rate: 71 %
15
PIPELINE PROJECTS
VIS A VIS, Warsaw, ul. Pałacowa
Area : 4 thousand sq.m.
Overground parking with ca. 350 places
Project completion: 3Q 2018
EUROCENTRUM, CROWN Warsaw, Al,. Jerozolimskie 132
Residential and hotel project, 21 levels
First 5 overground levels – hotel function:
217 high standard 4 star rooms
area over 9 thousand sq.m. GLA
Sixth to twenty first level, with a total area of 20.4 thousand sq.m. – 390 appartmentsfor rent
Four level underground parking with 430 parking places
Operator – the company VHM Hotel Management owned by the Satoria Group
Holiday Inn brand hotel, owned by the InterContinental Hotel Group (IHG)
Architectural design - JSK Architekci studio
CAPEX to be raised – PLN 190 million
Planned commencement of construction 1Q 2018
TO OBTAIN FURTHER INFORMATION PLEASE CONTACT:
Joanna Zielińska
M: +48 605 366 001
www.capitalpark.pl
