Mobimo Holding AG — Investor Presentation 2012

Mar 6, 2012

PRESENTATION RESULTS 2011

RECORD RESULT IN 2011

in CHF	31.12.2011	31.12.2010	Change
Net profit	80.5 m.	66.0 m.	+22%
Earnings per share	15.46	13.01	+19%
Total value of portfolio	2,171 m.	2,012 m.	+8%
Distribution1)	9	9	-

1) Distribution of paid-in capital for 2011 financial year of CHF 9 per share in accordance with proposal to General Meeting of 18 April 2012

STRATEGIC MILESTONES 2008-2011

• High quality portfolio structure

• Total portfolio grew by almost 50% (from CHF 1'483 Mio. To CHF 2'171 Mio.)
• Increased diversification :
• Geographically: Integration of LO -> entry in the French-speaking part of Switzerland (today 28% of portfolio)
• Share in residential properties increased from 11% to 19%
• Amelioration of portfolio quality through disposal of non-strategic properties (> 250 Mio.)
• Low vacancy rate: 3.3% (6.1% in 2008)

• Established strong market position as developer

• Investment potential of more than CHF 1 bn. secured
• Independency from transaction market
• Substantial valuation driver
• «Investments for third party» as new strategic pillar

• Stable financing – attractive stock

• Maturity of financial liability increased to 9.2 years (from 5.9 years)
• Return on equity increased from 6.0% to 8.5%
• Successful capital increases (2009, 2011) and convertible bond placement (2010)
• 100% free-float
• Increased stock liquidity from 0.9 Mio. per day in 2009 to 2.3 Mio. in 2011
• High dividend distribution predictability of CHF 9.00

KEY FINANCIAL FIGURES I

in CHF m.	31.12.2011	31.12.2010	31.12.2009
Net income, rentals	76,0	79,2	63,1
Net income, revaluations1)	41,21)	29,1	9,3
Net income, trading properties	22,3	8,4	25,2
Sales income, investment properties	2,5	5,4	1,7
Tax expense	-11,9	-11,9	-16,0
Profit	80,5	66,0	62,6

1) Most of the positive revaluation income of CHF 41.2 million derives from operating performance. The completion of properties under construction and the development of investment properties brought a remeasurement gain on initial recognition of CHF 20.7 million, whilst successful new lettings made a contribution of CHF 8.3 million. The positive performance of the Swiss property market accounted for about a further CHF 12.2 million of the change in value

DEVELOPMENT AS AN ADDED VALUE (AR 2011)

KEY FINANCIAL FIGURES II

in CHF	31.12.2011	31.12.2010	31.12.2009
EBITDA	122.4 m.	103.5 m.	99.6 m.
EBIT	121.1 m.	102.2 m.	98.5 m.
Profit	80.5 m.	66.0 m.	62.6 m.
Return on equity	8,5%	7,1%	8,0%

DEVELOPMENT OF MOBIMO NAV 2005 – 2011

SOLID FINANCING

	Goal	31.12.2011	31.12.2010	31.12.2009
Equity ratio	> 40%	47%	45%	48%
Interest coverage factor	> 2,0	3,0	3,0	4,5
Net gearing	< 150%	69%	92%	89%
Average interest rate		3,0%	2,9%	3,1%
Average residual maturity		9.2 years	5.1 years	5.1 years

MATURITY PROFILE OF FINANCIAL LIABILITIES

Av. residual maturity: 9.2 years

Total CHF 1,063 m.

1) Non-current financial liabilities include the convertible bond in the amount of CHF 175 million maturing on 30 June 2014 in addition to mortgage liabilities

MATURITY PROFILE OF RENTAL CONTRACTS1)

Av. remaining term: 4.2 years

1) Not including rental contracts of unlimited duration

KEY FIGURES FOR PROPERTY PORTFOLIO

	31.12.2011	31.12.2010
Gross yield on investment properties	6,0%	6,1%
Net yield on investment properties	5,0%	5,1%
Investment property vacancy rate	3,3%	5,1%

• Disposal of properties with higher risk premiums = reduction in gross yield
• Successful letting operations = significant reduction in vacancy rate

CHANGE IN YIELD SPREAD (INVESTMENT PROPERTIES)

SHARE DATA

in CHF	31.12.2011	31.12.2010	31.12.2009
Share capital	178.9 m.	148.8 m.	192.0 m.
Market capitalisation	1,283.4 m.	1,024.7 m.	889.9 m.
Average trading volume per day	2.3 m.	1.3 m.	0.88 m.
Year-end share price	208.00	199.70	176.10
Distribution	9.00	9.00	9.00
Payout ratio	58%	69%	64%
Earnings per share	15.46	13.01	14.09
NAV per share 1)	191.41	190.45	180.29

1) Assuming all options granted and conversion rights are exercised

SHARE PRICE PERFORMANCE OVER 3 YEARS1)

SELECTED THEMES 2011

• FTSE EPRA index

• As at 20 June 2011, the shares of Mobimo Holding AG were included in the FTSE EPRA/NAREIT

• Capital increase

• Successful capital increase amounting to CHF 193 million on 7 December 2011
• Capital contribution principle (Swiss corporate taxation reform II)
• Distribution of premium reserves free of withholding tax, no tax for personal shareholders
• Vacancy
• Extraordinarily low vacancy rate of 3.3%

THE PORTFOLIO AS AT 31.12.2011

THE PORTFOLIO AS AT 31.12.2011

THE PORTFOLIO AS AT 31.12.2011

INVESTMENT PROPERTIES BY ECONOMIC AREA

TARGET RENTAL INCOME BY TYPE OF USE

1)

1) Other use mainly includes: car parks and ancillary uses

THE FIVE BIGGEST TENANTS

PROPERTY PORTFOLIO AS AT 31 DECEMBER 2011

INVESTMENT PROPERTIES PORTFOLIO END OF 2008 TO END OF 2011

Presentation Conclusion: significant increase in good-quality properties at good location Reduction in 4s and 3s

Results 2011 ²³

INVESTMENT PROPERTIES BY USE AND QUALITY OVERVIEW OF THE ENTIRE PORTFOLIO

THE 15 BIGGEST PROPERTIES (MARKET VALUE TOTAL CHF 863 MILLION)

Address	Market value 31.12.11 in TCHF	Use
Turbinenstrasse, Zurich (Mobimo Tower / Hotel)	129'180	Hotel
Avenue d'Ouchy 4-6, Lausanne (La Poste)	91'670	Offices/ retail (Development)
Rue Beau-Séjour, Lausanne	72'950	Residential
Leubernstrasse 3, Kreuzlingen	65'560	Shopping centre
Voie du Chariot 4-7 Lausanne	59'850 25	Offices/ Presentation retail Results 2011

THE 15 BIGGEST PROPERTIES (MARKET VALUE TOTAL CHF 863 MILLION)

Address	Market value 31.12.11 in TCHF	Use
Hardturmstrasse 3/5, Zurich	57'210	Offices
Seestrasse 43 – 69, Horgen	54'020	Residential
Stauffacherstrasse 41, Zurich	47'970	Offices
Port-Franc/Rue de Genève, Lausanne	47'920	Offices/ retail
Manessestrasse 190/192, Zurich	46'070 26	Residential Presentation Results 2011

THE 15 BIGGEST PROPERTIES (MARKET VALUE TOTAL CHF 863 MILLION)

Address	Market value 31.12.11 in TCHF	Use
Katzenbachstrasse 221-231, Zurich	45'800	Residential
Turbinenstrasse site C, Zurich	43'530	Residential (under construction)
Sternmatt 6, Kriens	37'480	Offices/ industry
Albula- Hohlstrasse, Zurich	33'970	Residential (in planning)
Seestrasse 93 (Meilenwerk), Horgen	29'890 27	vintage car centre, hotel Presentation Results 2011 (development)

PROJECT MANAGEMENT BUILDING COMPLETIONS 2011

Lausanne, Rue de Genève Lausanne, Beau-Séjour

Lausanne, Pl. de l'Europe

Zurich, Mobimo Tower

Zurich, Manessestrasse

Wädenswil, Triton

Investment total approx. CHF 425 million

• 218 rental residential units
• 71 condo residential units
• 326 hotel rooms
• approx. 30 office workstations

PROJECT MANAGEMENT BUILDING STARTS 2011

Zurich, Im Schilf Horgen, Wisental II

Lausanne, La Poste (renovation)

Zurich, Am Pfingstweidpark Aarau, Polygon

Investment total approx. CHF 350 million

• 198 condo residential units
• 96 rental residential units
• approx. 1,386 m² commercial space
• approx. 670 office workstations

PROJECT MANAGEMENT PLANNED BUILDING STARTS 2012

Lausanne, Pépinières

Affoltern a. A., Affoltern a. A., Obstgarten old people's residence

Horgen, Meilenwerk Regensdorf, Im Pfand

Investment total approx. CHF 250 million

• 216 rental residential units
• approx. 9,000 m2, conservatoire, retail, offices eating establishments,
• 1 old people's res., 120 rooms
• 1 vintage car centre, hotel

MOBIMO BUSINESS MODEL

Growth + stable returns
25% 75% Appreciation in value/ Rental income capital gains/service income
Investment properties	Development properties	Investments for Third Parties
Core competencies 1. Buying and selling 2. Development 3. Portfolio management
Solid financing
		า -

DEVELOPMENT – A CORE COMPETENCE AT MOBIMO

Development properties

• Construction of investment properties for own portfolio
• Construction and sale of condominiums
• Achieving added value on existing properties held

Investments for Third Parties

• Mobimo acts as a service provider offering development services up to and including turn-key investment properties for private and institutional investors

PROJECT PIPELINE

Development and construction of investment properties for own portfolio

Under construction: CHF 340 million In planning: CHF 660 million

2011 2012 2013 2014 2015

Development, construction and sale of condominiums

PROJECT PIPELINE – INVESTMENT PROPERTIES UNDER CONSTRUCTION (APPROX. CHF 340 M.)

Dates: start to end of construction

PROJECT PIPELINE – CONDO PROPERTIES UNDER CONSTRUCTION (APPROX. CHF 270 M.)

Dates: start to end of construction

PROJECT PIPELINE – INVESTMENT PROPERTIES IN PLANNING (APPROX. CHF 660 M.)

	2011	2012	2013	2014	2015
Aarau, Torfeld site 1*				Offices
Aarau, Torfeld site 2*				Approx. 120 apartments, offices, commercial
Aarau, Torfeld site 4*				Residential
Kriens, Mattenhof site*					Business City
Lausanne, Côtes-de-Montb* 1)					Commercial, residential
Lausanne, R. de Genève 19/21*					Commercial, offices, residential
Lausanne, La Poste*			La Poste, urban development
Lausanne, Vigie 3* 1)			industry
Regensdorf, im Pfand* 1)				141 apartments
Zurich, Labitzke site*					approx. 300 apartments, commercial
Zurich, Letzigraben* 1)					Residential

* Building land with interim use and rental income

1) Development from portfolio

PROJECT PIPELINE – CONDO PROPERTIES IN PLANNING (APPROX. CHF 330 M.)

Dates: start to end of construction

SUSTAINABILITY

• Sustainability Report
• GRI (Global Reporting Initiative) Guidelines followed
• Certificate C
• Our real estate business and our sustainabiity efforts are guided by exactly the same principles and values.

OUTLOOK: FOCAL POINTS OF OPERATIONS IN 2012

• Bringing various building projects closer to completion
• Increase in rental income
• Marketing of condominiums
• Building up the "Investment for Third Parties" business area
• Further developments in project pipeline
• Ongoing quality optimisation in the portfolio

MOBIMO: FIT FOR THE FUTURE

• Stable income

High-value portfolio of very well-located properties. Well-diversified. Low vacancy rate.

• 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

CONSTANTLY HIGH DISTRIBUTION 2005 TO 2011

The dividend was paid since listing to 2009 as par value repayment. For the 2010 financial year were CHF 9 per share from the capital contribution reserves distributed. The par value of Mobimo share is CHF 29

PREMIUM/DISCOUNT DEVELOPMENT

SHARE PRICE PERFORMANCE 20111)

SHARE PRICE PERFORMANCE OVER 5 YEARS1)

CONTACT DETAILS

Christoph Caviezel, CEO Tel. 044 397 11 56 christoph.caviezel@mobimo.ch

Manuel Itten, CFO Tel. 044 397 11 44 manuel.itten@mobimo.ch

Edwin van der Geest Media and IR ir@mobimo.ch