PRESENTATION RESULTS 2013
DISCLAIMER
The financial data as well as the other information presented herein constitute selected information.
The information in this presentation does not constitute an offer or invitation and may not be construed as a recommendation by us to purchase, hold or sell shares of Mobimo Holding AG. This information or any copy thereof may not be sent or taken to or distributed in any jurisdiction in which such transmission or distribution is unlawful. This document may contain certain 'forward-looking' statements. By their nature, forwardlooking statements involve risk and uncertainty because they relate to future events and circumstances. Actual outcomes and results may differ materially from any outcomes or results expressed or implied by such forward-looking statements.
HIGHLIGHTS
- Record year for Mobimo
- Increase in net profit by approx. 7.5% to CHF 81.6 m.
- Profitable and growing portfolio
- Increase in the dividend to CHF 9.50
AGENDA
- Notes on key financial figures Manuel Itten, CFO
- Business performance 2013 Christoph Caviezel, CEO
• Outlook Christoph Caviezel, CEO
A GOOD YEAR
| in CHF |
31.12.2013 |
31.12.2012 |
31.12.2011 |
| Net profit |
81.6 m. |
76.0 m. |
80.5 m.1) |
| Earnings per share |
13.14 |
12.33 |
15.46 |
Total value of the
portfolio |
2,372
m. |
2,355
m. |
2,171 m. |
| Distribution |
9.50 2) |
9.00 |
9.00 |
1) The 2011 results included a one-time positive effect under tax expense totalling CHF 5.5 million
2) Distribution of paid-in capital for the 2013 financial year of CHF 9.50 per share in accordance with the proposal to the General Meeting of 25 March 2014. Some CHF 270 million was available for distribution of paid-in capital as at 31 December 2013
KEY FINANCIAL FIGURES SUMMARY OF KEY FINANCIAL FIGURES
| in CHF m. |
31.12.2013 |
31.12.2012
restated |
31.12.2011 |
Net rental
income |
78.9 |
79.8 |
76.0 |
Profit on sale of trading properties
and services |
31.6 |
21.7 |
22.3 |
Net income
from
revaluation |
25.2 |
36.9 |
41.2 |
| Profit on sale of invest. properties |
7.1 |
-0.1 |
2.5 |
| Tax expense |
-16.7 |
-17.6 |
-11.9 |
KEY FINANCIAL FIGURES BREAK DOWN OF NET INCOME FROM REVALUATION
KEY FINANCIAL FIGURES DEVELOPMENT OF NET RENTAL INCOME AND VACANCY RATE
Results 2013 8
KEY FINANCIAL FIGURES KEY FIGURES FOR PROPERTY PORTFOLIO
|
31.12.2013 |
31.12.2012
restated |
31.12.2011 |
| Gross yield on investment properties |
5.7% |
5.8% |
6% |
| Net yield on investment properties |
4.6% |
4.8% |
5.0% |
| Investment property vacancy rate |
3.9% |
3.8% |
3.3% |
KEY FINANCIAL FIGURES FINANCING
|
Target |
31.12.2013 |
31.12.2012
restated |
31.12.2011 |
| Equity ratio |
> 40 % |
46% |
48% |
47% |
| Interest coverage factor |
> 2,0 |
3,6 |
3.0 |
3.0 |
| Net gearing |
< 150 % |
84% |
80% |
69% |
| Average interest rate1) |
|
2.7% |
3.0% |
3.0% |
| Average residual maturity |
|
7.7 years |
9.1 years |
9.2 years |
KEY FINANCIAL FIGURES MATURITY PROFILE OF FINANCIAL LIABILITIES
- 1) Current financial liabilities include, in addition to mortgage liabilities, the convertible bond with a carrying amount of CHF 167.7 million (nominal value CHF 168.7 million) maturing on 30 June 2014
- 2) Non-current financial liabilities include, in addition to mortgage liabilities, the bond with a carrying amount of CHF 164.2 million (nominal value: CHF 165 million)
KEY FINANCIAL FIGURES SHARE DATA
| in CHF |
31.12.2013 |
31.12.2012
restated |
31.12.2011 |
| Shares issued |
6,214,478 |
6,208,913 |
6,170,098 |
| Share capital |
180.2 m. |
180.1 m. |
178.9 m. |
| Market capitalisation |
1,156.5 m. |
1,359.1 m. |
1,283.4 m. |
| Year-end share price |
186.10 |
218.90 |
208.00 |
| Distribution |
9.50 |
9.00 |
9.00 |
| Payout ratio |
72% |
73% |
58% |
| NAV per share1) |
200.01 |
193.99 |
191.41 |
1) Assuming all options granted and conversion rights are exercised
AGENDA
- Notes on key financial figures Manuel Itten, CFO
- Business performance 2013 Christoph Caviezel, CEO
- Portfolio
- Projects
• Outlook Christoph Caviezel, CEO
BUSINESS PERFORMANCE: PORTFOLIO OVERALL PORTFOLIO
BUSINESS PERFORMANCE: PORTFOLIO OVERALL PORTFOLIO
BUSINESS PERFORMANCE: PORTFOLIO DEVELOPMENT OF RENTAL INCOME BY TYPE OF USE
- Wohnen Residential
- Büro Office
- Hotel/Gastro Hotels/ catering
- Detailhandel Retail
- Gewerbe Commercial
- Übrige Nutzungen Other use
BUSINESS PERFORMANCE: PORTFOLIO MATURITY PROFILE OF RENTAL CONTRACTS1)
Average remaining term: 6.5 years
1) Not including rental contracts of unlimited duration
BUSINESS PERFORMANCE: PROJECTS BUILDINGS COMPLETED IN 2013
Zurich, City West A+B
Affoltern a.A., Obfelderstrasse
Zurich, City West C Horgen, Wisental II
Lausanne, La Poste
Total investment of approx. CHF 330 million
- 187 condo residential units (183 sold)
- 138 rental residential units
- Approx. 10,000 m² office/ commercial space
Development and construction of investment properties for own portfolio
BUSINESS PERFOMANCE: PROJECTS BUILDING STARTED IN 2013
Zurich, Badenerstrasse 595 Regensdorf, Sonnenhof Meilen, Feldgüetliweg
Total investment of approx. CHF 175 million
- 100 condo residential units, 21 studios
- 185 rental residential units
Lausanne, Petit Mont-Riond
BUSINESS PERFORMANCE: PROJECTS PLANNED BUILDING STARTS IN 2014
Zurich, Letzigraben Zurich, Labitzke Areal
Total investment of approx. CHF 734 million
- 232 condo residential units, 493 rental residential units
- 12 Town Houses
- 8 office/ commercial units
- Business City
Kriens, Mattenhof I+II
BUSINESS PERFORMANCE: PROJECTS DEVELOPMENT RENTAL INCOME
BUSINESS PERFORMANCE: PROJECTS INVESTMENTS FOR THIRD PARTIES
Dübendorf, Sonnentalstrasse 10
- 240 rental residential units
- 600m2 commercial/ retail
- Development: 2014 2016
- Investor: Mobiliar
Olten, Aarepark
- 56 rental residential units
- 2,000m² office/ retail
- Development: 2014 2015
- Investor: Credit Suisse
Langenthal, Headquarter 3M
- Office building
- 350 workplaces
- Development: 2014 2015
- Tenant: 3M
OUTLOOK OPERATIONAL FOCAL POINTS IN 2014
- Bringing various building projects closer to completion
- Increase in rental income
- Marketing of condominiums
- Further building up the business area "Investment for Third Parties"
- Further developments in project pipeline
- Ongoing quality optimisation of the portfolio
- Sound risk management
OUTLOOK MOBIMO: FIT FOR THE FUTURE
- High-value portfolio of very well-located properties. Well-diversified. Low vacancy rate. • Stable income
- Growth and rising income Attractive investment pipeline at top locations
• Security High equity ratio and long-term financing
• Expertise A capable and committed Mobimo team
• Yield
Share with an attractive yield
OUTLOOK DEVELOPMENT OF NAV
CONTACT DETAILS
Christoph Caviezel, CEO Tel. +41 (0)44 397 11 56 [email protected]
Manuel Itten, CFO Tel. +41 (0)44 397 11 44 [email protected]
[email protected]