This document provides an overview of a large commercial property company in Brazil. Some key points:
- The company has a portfolio valued at R$13.8 billion with over 2 million square meters of space across 123 properties in 14 Brazilian states.
- It has a diversified tenant base of large national and multinational companies.
- The company has achieved strong growth rates exceeding its competitors and stock performance has outperformed market indices.
- It focuses on value creation through re-tenanting, market realignments, and development projects totaling 322 thousand square meters.
This document provides an overview of a large commercial property company in Brazil. Some key points:
- The company has a portfolio valued at R$13.8 billion with over 2 million square meters of space.
- The portfolio is diversified across 123 properties, office, industrial, and retail segments, and 14 Brazilian states.
- The company has experienced strong growth rates above competitors and seen stock outperformance.
- It has a focus on value creation through retenanting, market realignments, and development projects.
- The company has a track record of accretive acquisitions and improving the performance and value of properties.
The largest commercial property company in Brazil owns 122 properties totaling over 2 million square meters. It has a diversified portfolio and tenant base of high credit quality companies. The company has experienced high growth rates and strong stock performance. It focuses on value creation through redevelopments, market realignments, and consolidating the fragmented industry.
The company is the largest commercial property company in Brazil, with a diversified portfolio of 91 properties totaling 1.14 million square meters. The portfolio includes office, industrial, and retail properties located across 13 Brazilian states. Financial highlights show growing revenues, adjusted EBITDA, and FFO in recent quarters. The company aims to continue expanding through acquisitions, developments, and improving operations of existing properties.
The document provides an overview of CGD's 2015 full year results. Key points include:
- CGD achieved near zero net income before taxes, an improvement from previous years.
- Total operating income was up 17.5% due to contributions from domestic and international operations.
- International operations contributed positively to net operating income, led by BNU Macau and BCG Angola.
- CGD maintained leadership positions in customer deposits and lending in Portugal while diversifying internationally.
Royal Vopak - Capital Markets Day - 2013 - Jack de KreijCompany Spotlight
Vopak provides a summary of its capital disciplined growth strategy:
[1] Vopak evaluates investment opportunities through a project funnel that assesses risk-return profiles. It considers factors like first-mover advantage, growth with key accounts, and strategic alliances.
[2] Investment types have different risk-return profiles. Growth projects with launching customers have higher returns but also higher risks. Contracted infrastructure like LNG and industrial terminals offer lower risks and returns.
[3] Vopak aims to balance its global terminal network through a mix of brownfield expansions, greenfield projects, and strategic alliances. This supports the company's goal of continued value creation through capital disciplined
Kodak reported financial results for the first quarter of 2007. Revenue declined 8% to $2.119 billion due to lower sales in digital capture and traditional businesses. The net loss improved 50% to $174 million due to cost reductions of $112 million in SG&A expenses. Kodak ended the quarter with $1.026 billion in cash and fully repaid $1.15 billion in debt after completing the sale of its Health Group. Kodak plans to increase its 2007 inkjet investment by up to $50 million to capitalize on strong demand for its new line of inkjet printers.
SAP presented its strategy, financial performance, and financing plans. Key points:
1) SAP reiterated its mid-term outlook of €22B+ in revenue and 35% operating margin by 2017 through cloud and core business growth.
2) SAP's Q1 revenue grew 4% to €3.7B and cloud subscriptions rose 38%, ahead of annual targets.
3) SAP maintains a strong balance sheet and liquidity position through steady cash flows and fast debt repayment following acquisitions.
Keppel Corporation reported lower net profits in the first half of 2019 compared to the same period in 2018. Net profit was S$356 million in 1H 2019, down 39% year-on-year, as 2018 results benefited from en-bloc sales of S$416 million. The company continues to transform its business with strategic investments and growing new growth engines across its business divisions, including offshore and marine, property, infrastructure, and investments. Keppel is focused on executing growth initiatives to create long-term shareholder value through its vision of providing solutions for sustainable urbanization.
This document provides an overview of a large commercial property company in Brazil. Some key points:
- The company has a portfolio valued at R$13.8 billion with over 2 million square meters of space.
- The portfolio is diversified across 123 properties, office, industrial, and retail segments, and 14 Brazilian states.
- The company has experienced strong growth rates above competitors and seen stock outperformance.
- It has a focus on value creation through retenanting, market realignments, and development projects.
- The company has a track record of accretive acquisitions and improving the performance and value of properties.
The largest commercial property company in Brazil owns 122 properties totaling over 2 million square meters. It has a diversified portfolio and tenant base of high credit quality companies. The company has experienced high growth rates and strong stock performance. It focuses on value creation through redevelopments, market realignments, and consolidating the fragmented industry.
The company is the largest commercial property company in Brazil, with a diversified portfolio of 91 properties totaling 1.14 million square meters. The portfolio includes office, industrial, and retail properties located across 13 Brazilian states. Financial highlights show growing revenues, adjusted EBITDA, and FFO in recent quarters. The company aims to continue expanding through acquisitions, developments, and improving operations of existing properties.
The document provides an overview of CGD's 2015 full year results. Key points include:
- CGD achieved near zero net income before taxes, an improvement from previous years.
- Total operating income was up 17.5% due to contributions from domestic and international operations.
- International operations contributed positively to net operating income, led by BNU Macau and BCG Angola.
- CGD maintained leadership positions in customer deposits and lending in Portugal while diversifying internationally.
Royal Vopak - Capital Markets Day - 2013 - Jack de KreijCompany Spotlight
Vopak provides a summary of its capital disciplined growth strategy:
[1] Vopak evaluates investment opportunities through a project funnel that assesses risk-return profiles. It considers factors like first-mover advantage, growth with key accounts, and strategic alliances.
[2] Investment types have different risk-return profiles. Growth projects with launching customers have higher returns but also higher risks. Contracted infrastructure like LNG and industrial terminals offer lower risks and returns.
[3] Vopak aims to balance its global terminal network through a mix of brownfield expansions, greenfield projects, and strategic alliances. This supports the company's goal of continued value creation through capital disciplined
Kodak reported financial results for the first quarter of 2007. Revenue declined 8% to $2.119 billion due to lower sales in digital capture and traditional businesses. The net loss improved 50% to $174 million due to cost reductions of $112 million in SG&A expenses. Kodak ended the quarter with $1.026 billion in cash and fully repaid $1.15 billion in debt after completing the sale of its Health Group. Kodak plans to increase its 2007 inkjet investment by up to $50 million to capitalize on strong demand for its new line of inkjet printers.
SAP presented its strategy, financial performance, and financing plans. Key points:
1) SAP reiterated its mid-term outlook of €22B+ in revenue and 35% operating margin by 2017 through cloud and core business growth.
2) SAP's Q1 revenue grew 4% to €3.7B and cloud subscriptions rose 38%, ahead of annual targets.
3) SAP maintains a strong balance sheet and liquidity position through steady cash flows and fast debt repayment following acquisitions.
Keppel Corporation reported lower net profits in the first half of 2019 compared to the same period in 2018. Net profit was S$356 million in 1H 2019, down 39% year-on-year, as 2018 results benefited from en-bloc sales of S$416 million. The company continues to transform its business with strategic investments and growing new growth engines across its business divisions, including offshore and marine, property, infrastructure, and investments. Keppel is focused on executing growth initiatives to create long-term shareholder value through its vision of providing solutions for sustainable urbanization.
The company is the largest commercial property company in Brazil, with a diversified portfolio of 93 properties totaling 1.17 million square meters. It has a diversified tenant base across various industries. Nearly all of its lease contracts are indexed to inflation and have terms of 3-5 years for offices and 5-10 years for warehouses. The company has several growth drivers, including acquisitions that have increased its portfolio by over 1 million square meters since 2010, development projects that will add 178 thousand square meters, and performance improvements through renegotiations and new leases.
The company presentation provides an overview of the largest commercial property company in Brazil. It has a diversified portfolio of 91 properties totaling 1.35 million square meters across office, warehouse, retail, and development segments. The company has experienced strong growth since its IPO through acquisitions and operational improvements to its properties. It maintains a stable financial position with a diversified tenant base and inflation-linked contracts.
This document provides an overview of the largest commercial property company in Brazil with a portfolio valued at US$6.3 billion. It details the company's diversified portfolio of 123 properties across 14 Brazilian states, with tenants from various industries. The company has experienced strong growth rates exceeding its competitors and maintains high occupancy rates. It employs a strategy of acquisitions, developments and improvements to create value in its portfolio.
The company is the largest commercial property company in Brazil with a portfolio valued at approximately R$12 billion. It has 120 properties totaling over 2 million square meters of leasable space. The company has a diversified tenant base of large multinational companies and a presence in 14 Brazilian states. It is focused on growth through acquisitions, developing new properties, and improving performance of existing properties. Financial highlights show growing revenues, earnings, and low debt levels.
BRProperties reported strong financial and operating results for 2Q10. It acquired over 872 million reais in properties, exceeding its acquisition target for the year. Its portfolio grew to 993,143 square meters, a 36% increase year-over-year. Revenues increased 39% to 110.7 million reais in 2Q10, while adjusted EBITDA rose 43% to 35.5 million reais. Net income grew 83% to 19.3 million reais. The company also maintained a low financial vacancy rate of 10.4% and a comfortable debt maturity schedule.
BRProperties reported strong financial and operating results for 2Q10. It acquired over 872 million reais in properties, exceeding its acquisition target for the year and increasing its portfolio by 36% to 993,143 square meters. Revenues increased 39% to 110.7 million reais while adjusted EBITDA rose 43% to 35.5 million reais. The company also saw an 83% rise in net income to 19.3 million reais and managed properties increased from 24 to 28 over the period.
Presentation material fact (memorandum of understanding)brproperties
The document proposes merging BR Properties and BTG-WT Properties portfolios. The merger would create the largest commercial properties company in Brazil with a portfolio valued at R$10 billion and 2 million square meters of GLA. Key terms include maintaining BR Properties management, a board with representatives of both companies, and 58.1% ownership for BR Properties shareholders. The merger aims to improve portfolio positioning, tenant diversification, market positioning, and realize synergies through scale and operational efficiencies while preserving an initial R$1.5 billion cash balance.
This document provides an investor presentation for Banco ABC Brasil covering their strategy, business segments, funding and capital base, financial highlights, and ownership structure. It summarizes that Banco ABC Brasil provides commercial banking services in Brazil focused on corporate and middle market clients, with an emphasis on growing profitably in these segments through increased cross-selling. It also reviews the bank's diversified funding sources, strong capital and asset-liability management, improving credit quality, and majority ownership by Arab Banking Corporation.
The document provides financial and operating highlights for BR Properties for 3Q10 and 9M10. Key highlights include:
- Gross revenues of R$58.5 million in 3Q10, up 91% YoY, with pro forma revenues estimated at R$61.7 million in 3Q10 and R$198.5 million in 9M10.
- Adjusted EBITDA of R$45.4 million in 3Q10, up 101% YoY, with pro forma adjusted EBITDA estimated at R$49 million in 3Q10 and R$162.4 million in 9M10.
- Consolidated FFO of R$60.1 million in 9
The document provides financial and operating highlights for BRProperties for the 2nd quarter of 2010. Some key points:
- Gross revenues increased 39% year-over-year to R$49.2 million in 2Q10. Estimated pro-forma gross revenues were R$58.6 million in 2Q10.
- Adjusted EBITDA was R$38.2 million in 2Q10, a 43% increase over 2Q09. Estimated pro-forma adjusted EBITDA was R$46.5 million in 2Q10.
- Net income totaled R$19.3 million in 2Q10, an 83% increase over 2Q09.
- The
2Q12 and 1H12 Results Conference Call PresentationRiRossi
Rossi has announced several strategic changes and accounting adjustments:
- Rossi plans to reduce its geographic footprint, partner relationships, and overhead costs to improve margins. This includes closing offices, reducing staff, and focusing on major cities.
- Rossi's in-house sales team will take over 90% of sales from partners. Reducing partners is expected to boost gross and EBITDA margins by 2023.
- Rossi identified accounting adjustments totaling R$610 million related to revenue recognition, transactions with partners, and interest expenses. Management expects these adjustments to reverse over the next 18-24 months.
- Rossi established two new business units focused on commercial and residential development that could generate R
Comgás is a natural gas distribution company in Brazil. In the third quarter of 2012, Comgás connected 90 thousand new households, saw volume growth of 10.2% year-over-year, and invested R$427 million, up 17% from the same period in 2011. Financial results for the first nine months were also up year-over-year, with net income increasing 17.3% and EBITDA rising 18.1% compared to the same period in 2011. The company announced a change in controlling shareholders, with Cosan acquiring a 60.1% indirect stake from BG Group.
The document summarizes PINE's 2013 earnings release conference call. It provides an overview of key financial highlights and performance indicators for 2013, including an 18.7% increase in total funding to R$8.38 billion and a 24.9% increase in loan portfolio to R$9.93 billion. It also reviews business line contributions, product and revenue diversification, net interest margin, expenses, loan portfolio quality, the fixed income, currencies and commodities business, and PINE Investimentos. The document indicates that results were positive across all business lines due to a strategy of providing complete service to clients.
Corporate Presentation CPFL Energia - Janeiro 2016CPFL RI
This document provides an overview of CPFL Energia, the largest integrated private electricity company in Brazil. Some key points:
- CPFL Energia has a market capitalization of R$15 billion and operates in distribution, generation, trading, and services.
- In distribution, CPFL has 8 subsidiaries serving 7.7 million customers. In generation, CPFL has 3,129MW of installed capacity, 94% from renewable sources, making it the largest renewable energy portfolio in Brazil.
- Financially, CPFL reported R$4 billion in EBITDA and R$1.2 billion in net income for the last 12 months ending 3Q15. Key growth areas include renewable energy
RioCan Investor Presentation for Q3 2014 provides an overview of the company's portfolio, financial highlights, and outlook. Key points include:
- RioCan owns 340 retail properties across Canada and the US totaling 80 million square feet and valued at $14.7 billion.
- Occupancy rates have remained high between 96.9-97.7% since 1996.
- Funds from operations grew 15% annually between 2009-2013, while distributions to unitholders increased 7.5% annually.
- The portfolio is well-diversified by geography and tenant, with top tenants including Loblaws, Walmart, Canadian Tire, and Metro.
The document summarizes Lopes' operational and financial results for the 2nd quarter of 2009. Operationally, contracted sales totaled $2.2 billion, up 51% from the previous quarter. Financially, pro forma EBITDA was $21.6 million, up 279% from Q1 2009, with a margin of 40.02%. Pro forma net income was $10.8 million, up 246% from last quarter, with a margin of 20.13%. The company is raising its full-year sales guidance to $8-8.5 billion due to better-than-expected results.
Corporate Presentation CPFL Energia April 2015CPFL RI
This document summarizes CPFL Energia's history and operations. It discusses CPFL's expansion since privatization in the late 1990s through acquisitions and new projects. It outlines CPFL's diversified portfolio including distribution, generation, commercialization, services and renewables. Financial highlights from 2010-2014 are provided for each segment. The document also discusses CPFL's ambitions for continued growth and leadership across its business lines.
The document summarizes BI&P's 1Q13 results presentation. It states that BI&P completed a cycle of changes started in 2011 with a new management team, including strengthening loan loss reserves in 1Q13 to cover future risks. This resulted in a loss for the quarter, but maintains capital levels. The portfolio has shifted to focus on larger, lower risk companies and developing new product areas, while maintaining a short-term maturity profile and improving credit quality.
PINE reported positive results in the second quarter of 2013, with contributions from all business lines. The loan portfolio grew to R$9 billion while maintaining diversification and quality. Net interest margin was within guidance despite pressure from declining interest rates. Expenses were well managed, leading to an efficiency ratio of 38.1%. FICC maintained its leading position in commodity derivatives while PINE Investimentos consolidated its franchise in capital markets activities. Funding remained diversified across sources as asset and liability management preserved a positive credit-to-funding gap. The capital adequacy ratio reached 17%.
Keppel Corporation US NDR Presentation Slides - May 2019KeppelCorporation
- The presentation is for investors in New York and Boston and transforms Keppel into an ecosystem of companies providing sustainable urbanization solutions across asset management, energy, environment, and urban living.
- Key pieces of Keppel's transformation are in place as it focuses on executing growth initiatives across offshore and marine, property, infrastructure, and investments.
- Business highlights show that Keppel is well positioned in offshore and marine with new orders, growing its data centre portfolio, developing quality real estate in China and Vietnam, and expanding infrastructure assets.
2 t14 divulgação de resultados apresentaçãobrproperties
A Companhia registrou queda de 6% na receita líquida no 2T14 devido à venda de propriedades, porém o aluguel médio por m2 cresceu 6,2%. O lucro líquido aumentou 267% e o EBITDA ajustado foi de R$205,6 milhões, com margem de 92%. A Companhia também vendeu ativos e distribuiu dividendos extraordinários.
- BR Properties reported financial results for 2Q14 with net revenues decreasing 6% YoY due to property sales but average rent per sqm for remaining properties increasing 6.2% YoY.
- Net income increased 267% YoY to R$182.9 million in 2Q14. Adjusted EBITDA was R$205.6 million with a margin of 92%.
- The company signed new lease agreements, including with AIG Seguros Brasil and Indra Brasil, and continued improving vacancy rates in its office portfolio over the past four quarters.
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The company is the largest commercial property company in Brazil, with a diversified portfolio of 93 properties totaling 1.17 million square meters. It has a diversified tenant base across various industries. Nearly all of its lease contracts are indexed to inflation and have terms of 3-5 years for offices and 5-10 years for warehouses. The company has several growth drivers, including acquisitions that have increased its portfolio by over 1 million square meters since 2010, development projects that will add 178 thousand square meters, and performance improvements through renegotiations and new leases.
The company presentation provides an overview of the largest commercial property company in Brazil. It has a diversified portfolio of 91 properties totaling 1.35 million square meters across office, warehouse, retail, and development segments. The company has experienced strong growth since its IPO through acquisitions and operational improvements to its properties. It maintains a stable financial position with a diversified tenant base and inflation-linked contracts.
This document provides an overview of the largest commercial property company in Brazil with a portfolio valued at US$6.3 billion. It details the company's diversified portfolio of 123 properties across 14 Brazilian states, with tenants from various industries. The company has experienced strong growth rates exceeding its competitors and maintains high occupancy rates. It employs a strategy of acquisitions, developments and improvements to create value in its portfolio.
The company is the largest commercial property company in Brazil with a portfolio valued at approximately R$12 billion. It has 120 properties totaling over 2 million square meters of leasable space. The company has a diversified tenant base of large multinational companies and a presence in 14 Brazilian states. It is focused on growth through acquisitions, developing new properties, and improving performance of existing properties. Financial highlights show growing revenues, earnings, and low debt levels.
BRProperties reported strong financial and operating results for 2Q10. It acquired over 872 million reais in properties, exceeding its acquisition target for the year. Its portfolio grew to 993,143 square meters, a 36% increase year-over-year. Revenues increased 39% to 110.7 million reais in 2Q10, while adjusted EBITDA rose 43% to 35.5 million reais. Net income grew 83% to 19.3 million reais. The company also maintained a low financial vacancy rate of 10.4% and a comfortable debt maturity schedule.
BRProperties reported strong financial and operating results for 2Q10. It acquired over 872 million reais in properties, exceeding its acquisition target for the year and increasing its portfolio by 36% to 993,143 square meters. Revenues increased 39% to 110.7 million reais while adjusted EBITDA rose 43% to 35.5 million reais. The company also saw an 83% rise in net income to 19.3 million reais and managed properties increased from 24 to 28 over the period.
Presentation material fact (memorandum of understanding)brproperties
The document proposes merging BR Properties and BTG-WT Properties portfolios. The merger would create the largest commercial properties company in Brazil with a portfolio valued at R$10 billion and 2 million square meters of GLA. Key terms include maintaining BR Properties management, a board with representatives of both companies, and 58.1% ownership for BR Properties shareholders. The merger aims to improve portfolio positioning, tenant diversification, market positioning, and realize synergies through scale and operational efficiencies while preserving an initial R$1.5 billion cash balance.
This document provides an investor presentation for Banco ABC Brasil covering their strategy, business segments, funding and capital base, financial highlights, and ownership structure. It summarizes that Banco ABC Brasil provides commercial banking services in Brazil focused on corporate and middle market clients, with an emphasis on growing profitably in these segments through increased cross-selling. It also reviews the bank's diversified funding sources, strong capital and asset-liability management, improving credit quality, and majority ownership by Arab Banking Corporation.
The document provides financial and operating highlights for BR Properties for 3Q10 and 9M10. Key highlights include:
- Gross revenues of R$58.5 million in 3Q10, up 91% YoY, with pro forma revenues estimated at R$61.7 million in 3Q10 and R$198.5 million in 9M10.
- Adjusted EBITDA of R$45.4 million in 3Q10, up 101% YoY, with pro forma adjusted EBITDA estimated at R$49 million in 3Q10 and R$162.4 million in 9M10.
- Consolidated FFO of R$60.1 million in 9
The document provides financial and operating highlights for BRProperties for the 2nd quarter of 2010. Some key points:
- Gross revenues increased 39% year-over-year to R$49.2 million in 2Q10. Estimated pro-forma gross revenues were R$58.6 million in 2Q10.
- Adjusted EBITDA was R$38.2 million in 2Q10, a 43% increase over 2Q09. Estimated pro-forma adjusted EBITDA was R$46.5 million in 2Q10.
- Net income totaled R$19.3 million in 2Q10, an 83% increase over 2Q09.
- The
2Q12 and 1H12 Results Conference Call PresentationRiRossi
Rossi has announced several strategic changes and accounting adjustments:
- Rossi plans to reduce its geographic footprint, partner relationships, and overhead costs to improve margins. This includes closing offices, reducing staff, and focusing on major cities.
- Rossi's in-house sales team will take over 90% of sales from partners. Reducing partners is expected to boost gross and EBITDA margins by 2023.
- Rossi identified accounting adjustments totaling R$610 million related to revenue recognition, transactions with partners, and interest expenses. Management expects these adjustments to reverse over the next 18-24 months.
- Rossi established two new business units focused on commercial and residential development that could generate R
Comgás is a natural gas distribution company in Brazil. In the third quarter of 2012, Comgás connected 90 thousand new households, saw volume growth of 10.2% year-over-year, and invested R$427 million, up 17% from the same period in 2011. Financial results for the first nine months were also up year-over-year, with net income increasing 17.3% and EBITDA rising 18.1% compared to the same period in 2011. The company announced a change in controlling shareholders, with Cosan acquiring a 60.1% indirect stake from BG Group.
The document summarizes PINE's 2013 earnings release conference call. It provides an overview of key financial highlights and performance indicators for 2013, including an 18.7% increase in total funding to R$8.38 billion and a 24.9% increase in loan portfolio to R$9.93 billion. It also reviews business line contributions, product and revenue diversification, net interest margin, expenses, loan portfolio quality, the fixed income, currencies and commodities business, and PINE Investimentos. The document indicates that results were positive across all business lines due to a strategy of providing complete service to clients.
Corporate Presentation CPFL Energia - Janeiro 2016CPFL RI
This document provides an overview of CPFL Energia, the largest integrated private electricity company in Brazil. Some key points:
- CPFL Energia has a market capitalization of R$15 billion and operates in distribution, generation, trading, and services.
- In distribution, CPFL has 8 subsidiaries serving 7.7 million customers. In generation, CPFL has 3,129MW of installed capacity, 94% from renewable sources, making it the largest renewable energy portfolio in Brazil.
- Financially, CPFL reported R$4 billion in EBITDA and R$1.2 billion in net income for the last 12 months ending 3Q15. Key growth areas include renewable energy
RioCan Investor Presentation for Q3 2014 provides an overview of the company's portfolio, financial highlights, and outlook. Key points include:
- RioCan owns 340 retail properties across Canada and the US totaling 80 million square feet and valued at $14.7 billion.
- Occupancy rates have remained high between 96.9-97.7% since 1996.
- Funds from operations grew 15% annually between 2009-2013, while distributions to unitholders increased 7.5% annually.
- The portfolio is well-diversified by geography and tenant, with top tenants including Loblaws, Walmart, Canadian Tire, and Metro.
The document summarizes Lopes' operational and financial results for the 2nd quarter of 2009. Operationally, contracted sales totaled $2.2 billion, up 51% from the previous quarter. Financially, pro forma EBITDA was $21.6 million, up 279% from Q1 2009, with a margin of 40.02%. Pro forma net income was $10.8 million, up 246% from last quarter, with a margin of 20.13%. The company is raising its full-year sales guidance to $8-8.5 billion due to better-than-expected results.
Corporate Presentation CPFL Energia April 2015CPFL RI
This document summarizes CPFL Energia's history and operations. It discusses CPFL's expansion since privatization in the late 1990s through acquisitions and new projects. It outlines CPFL's diversified portfolio including distribution, generation, commercialization, services and renewables. Financial highlights from 2010-2014 are provided for each segment. The document also discusses CPFL's ambitions for continued growth and leadership across its business lines.
The document summarizes BI&P's 1Q13 results presentation. It states that BI&P completed a cycle of changes started in 2011 with a new management team, including strengthening loan loss reserves in 1Q13 to cover future risks. This resulted in a loss for the quarter, but maintains capital levels. The portfolio has shifted to focus on larger, lower risk companies and developing new product areas, while maintaining a short-term maturity profile and improving credit quality.
PINE reported positive results in the second quarter of 2013, with contributions from all business lines. The loan portfolio grew to R$9 billion while maintaining diversification and quality. Net interest margin was within guidance despite pressure from declining interest rates. Expenses were well managed, leading to an efficiency ratio of 38.1%. FICC maintained its leading position in commodity derivatives while PINE Investimentos consolidated its franchise in capital markets activities. Funding remained diversified across sources as asset and liability management preserved a positive credit-to-funding gap. The capital adequacy ratio reached 17%.
Keppel Corporation US NDR Presentation Slides - May 2019KeppelCorporation
- The presentation is for investors in New York and Boston and transforms Keppel into an ecosystem of companies providing sustainable urbanization solutions across asset management, energy, environment, and urban living.
- Key pieces of Keppel's transformation are in place as it focuses on executing growth initiatives across offshore and marine, property, infrastructure, and investments.
- Business highlights show that Keppel is well positioned in offshore and marine with new orders, growing its data centre portfolio, developing quality real estate in China and Vietnam, and expanding infrastructure assets.
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2 t14 divulgação de resultados apresentaçãobrproperties
A Companhia registrou queda de 6% na receita líquida no 2T14 devido à venda de propriedades, porém o aluguel médio por m2 cresceu 6,2%. O lucro líquido aumentou 267% e o EBITDA ajustado foi de R$205,6 milhões, com margem de 92%. A Companhia também vendeu ativos e distribuiu dividendos extraordinários.
- BR Properties reported financial results for 2Q14 with net revenues decreasing 6% YoY due to property sales but average rent per sqm for remaining properties increasing 6.2% YoY.
- Net income increased 267% YoY to R$182.9 million in 2Q14. Adjusted EBITDA was R$205.6 million with a margin of 92%.
- The company signed new lease agreements, including with AIG Seguros Brasil and Indra Brasil, and continued improving vacancy rates in its office portfolio over the past four quarters.
1. In 1Q14, BR Properties reported net revenues of R$232.9 million, a 3% increase over 1Q13. Adjusted EBITDA was R$209.3 million with a margin of 90%. Net income reached R$59.5 million.
2. The portfolio is comprised primarily of office properties (64% by value). Financial and physical vacancy rates were 8.1% and 4.6% respectively, excluding a property under lease-up.
3. In March, BR Properties signed an agreement to sell its entire industrial/logistics portfolio to GLP for R$3.18 billion, subject to regulatory approval.
1 t14 divulgação de resultados apresentaçãobrproperties
A Companhia registrou receita líquida de R$232,9 milhões no 1T14, um crescimento de 3% em relação ao ano anterior. O lucro líquido foi de R$59,5 milhões. A dívida líquida aumentou 3% para R$4,75 bilhões, com Loan to Value de 35%.
- In 2013, BR Properties saw significant growth in key financial metrics such as net revenues (+46%), adjusted EBITDA (+76%), and adjusted FFO (+246%) due to additional rental revenues and properties delivered.
- The company delivered 6 new projects representing 205 thousand sqm of GLA in 2013, of which 84% was already leased. Average leasing spreads were 3.0% across 347 thousand sqm of renegotiated GLA.
- In November, the company agreed to sell its entire industrial/logistics portfolio to WTGoodman for R$3.18 billion, subject to approvals and due diligence, with proceeds to be used for debt reduction, share repurchases, and divid
A Companhia registrou forte crescimento de receita e lucro em 2013. O EBITDA ajustado cresceu 76% e a margem EBITDA atingiu 94%. A dívida líquida aumentou 2% e a cobertura de juros foi mantida.
- BR Properties reported strong financial and operating results for 3Q13, with net revenues increasing 41% and adjusted EBITDA up 47% compared to 3Q12.
- The company completed the sale of 3 assets for R$482 million at an average cap rate of 8.5%, reducing its loan-to-value ratio.
- Leasing spreads remained positive at 1.7% on average for the quarter, and financial and physical vacancy dropped to 9.7% and 4.9%, respectively, excluding recently delivered properties.
- BR Properties continues to improve its balance sheet, lowering its net debt to adjusted EBITDA ratio to 5.2x and extending its debt maturity profile.
3 t13 br properties divulgação dos resultados apresentaçãobrproperties
O relatório apresenta os resultados financeiros do 3T13, destacando: 1) crescimento de 41% na receita líquida e 47% no EBITDA ajustado em relação ao 3T12; 2) redução de 29% na alavancagem medida pelo índice Dívida Líquida/EBITDA; 3) aumento de 171% no FFO ajustado.
Presentation real estate investment fundbrproperties
This document provides information on three Class A office properties in Brazil: RB 115 Building in Rio de Janeiro with 11,514.60 sqm of leasable area, Ouvidor Building also in Rio de Janeiro with 6,284.81 sqm, and Pateo Bandeirantes Building in Sao Paulo with 17,458.32 sqm. All properties have sprinklers, smoke detectors, raised floors, and air conditioning. RB 115 and Ouvidor were retrofitted in 2010 and 2009 respectively while Pateo Bandeirantes was constructed in 2012. Location maps, photos, floor areas, and lease values are also provided.
O documento resume três propriedades comerciais de escritórios no Brasil, fornecendo detalhes técnicos, informações gerais, mapas, fotos e tabelas de áreas e valores de locação para cada um.
A BR Properties é a maior empresa de imóveis comerciais do Brasil, com um portfólio de R$ 14,1 bilhões e mais de 2 milhões de m2 de área locável. Sua estratégia é criar valor através de locações, revisões contratuais e melhorias nas propriedades. O portfólio diversificado inclui propriedades de escritórios e galpões de alta qualidade em São Paulo e Rio de Janeiro.
This document provides an overview of BR Properties' commercial real estate portfolio, which includes 123 properties concentrated in São Paulo and Rio de Janeiro. The portfolio consists of office, warehouse, retail, and development properties totaling over 2.2 million square meters. The office portfolio has a market value of R$9.3 billion and is located across 6 states, mainly in São Paulo and Rio de Janeiro. The industrial portfolio has a market value of R$3.35 billion and consists of warehouses across 5 states, concentrated in São Paulo.
O portfólio inclui 44 escritórios, 37 galpões e 6 empreendimentos em desenvolvimento, concentrado principalmente em São Paulo e Rio de Janeiro. O portfólio total é de aproximadamente 2,2 milhões de metros quadrados.
Apresentação institucional agosto de 2013brproperties
A BR Properties é a maior empresa de imóveis comerciais do Brasil, com um portfólio de R$ 14,1 bilhões em valor de mercado e mais de 2 milhões de m2 em área bruta locável. Sua estratégia envolve locações, revisões contratuais, retrofits e melhorias para criar valor, além de aquisições e desenvolvimentos seletivos. O portfólio diversificado é composto principalmente por escritórios e galpões de logística de alta qualidade em São Paulo e Rio de Janeiro.
2 t13 br properties divulgação dos resultados apresentaçãobrproperties
O documento apresenta os resultados financeiros e operacionais da Companhia no 2T13. Destaca-se que a receita líquida cresceu 48% em relação ao 2T12, o EBITDA ajustado aumentou 52% e a margem EBITDA ajustada foi de 93%. Adicionalmente, o FFO ajustado cresceu 947% e a margem FFO ajustada foi de 37%.
The document provides highlights from BR Properties' 2Q13 earnings release presentation. Key points include:
- 2Q13 net revenues increased 48% YoY to R$238.2 million due to additional rental revenues. Adjusted EBITDA rose 52% to R$221.2 million.
- Financial vacancy was 10.8% while physical vacancy was 5.5%, excluding recently delivered properties.
- During 2Q13 the company renegotiated debt, reducing average cost from TR + 10.36% to TR + 9.39%.
- Standard & Poor's altered its outlook on BR Properties from neutral to positive. The company also raised R$450 million in debentures.
In the first quarter of 2013:
- BR Properties' net revenues increased 123% to R$225.9 million due to additional rental revenues from new properties. Adjusted EBITDA rose 136% to R$212.1 million.
- The company's portfolio value reached R$14.03 billion with 63% comprised of office properties. Financial vacancy was 8.9% while physical vacancy was 4.7%.
- Net income totaled R$90.9 million. Adjusted FFO excluding non-cash items was R$77.2 million, with an adjusted FFO margin of 34%.
In the first quarter of 2013:
- BR Properties' net revenues increased 123% to R$225.9 million due to additional rental revenues from new properties. Adjusted EBITDA grew 136% to R$212.1 million.
- The company's portfolio value reached R$14.03 billion and financial vacancy was 8.9%, impacted by a recently delivered building that is still leasing up.
- BR Properties saw its stock price fall 4% over the quarter but trading volume increased significantly.
1 t13 br properties divulgação dos resultados apresentaçãobrproperties
A Companhia registrou forte crescimento de receita no 1T13, com lucro líquido de R$90,9 milhões. O EBITDA ajustado aumentou 136% e a dívida líquida permaneceu estável. A vacância financeira subiu para 8,9% devido à entrega de novos empreendimentos.
O documento apresenta informações sobre a BR Properties S.A., incluindo: (1) Uma descrição da companhia como a maior empresa de investimentos em imóveis comerciais do Brasil; (2) Detalhes sobre seu portfólio diversificado de 62 imóveis e projetos de desenvolvimento; (3) Análise do cenário macroeconômico favorável e da dinâmica do setor imobiliário no Brasil.
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2. Company Overview
The largest commercial property company in the country, with a portfolio of approximately
R$13.8 billion in market value and over 2 million sqm of GLA
Company Profile
2
Diversified portfolio, comprised of 123 properties,
with 2.2 million sqm of gross leasable area (GLA)
and estimated market value of R$13.8 billion
Diversified tenant base, composed of high credit-
quality national and multinational companies
Present in 14 Brazilian states
13 greenfield projects, with approximately 322
thousand sqm of GLA
Fully integrated and experienced in-house teams:
acquisitions, financing, legal, property management
and engineering
Value creation management strategy through re-
tenanting, market realignments, retrofit, and
improvements to technical installations
Market recognition: proven ability to source deals
and execute complex transactions
Wholly owned property management subsidiary –
BRPR A
Segments of Activity
OfficeIndustrialRetail
C&A Portfolio
Ventura
DP Louveira
JK Complex - Tower D&E CES
VW Vinhedo
Tok & Stok Portfolio
3. Highest Growth in Sector…
Impressive growth rate, much higher than the average of its comparables…
GLA CAGR 2008 - 2012 Net Revenues CAGR 2008 - 2012
FFO CAGR 2008 - 2012 EBITDA CAGR 2008 – 2012
3
Source: Companies
Notes:
1 Malls Average: Considering BR Malls, Multiplan, and Iguatemi
2 Properties Average: Considering São Carlos and CCP
Properties Average Shopping Malls Average
39%
-3%
14%
Properties Average Shopping Malls Average
60%
30%
28%
Properties Average Shopping Malls Average
82%
29%
26%
Properties Average Shopping Malls Average
72%
16%
31%
4. Ibovespa MSCIBrasil
41%
-2%
4%
Ibovespa MSCIBrasil
10%
-15%
-21%
BR Properties’ stock has outperformed the most relevant indices over the last years, given its
more defensive profile in an uncertain economic outlook
4
Value Creation Since IPO
Source: Bloomberg
Stock Performance
2010
Stock Performance
2011
Stock Performance
2012
Ibovespa MSCIBrasil
38%
7%
-4%
ADTV:
R$ 8 million
ADTV:
R$ 13 million
ADTV:
R$ 30 million
5. CCP São Carlos
8.211
2.070
2.592
Largest and Most Efficient Company…
BR Properties has the highest EBITDA margin among all players in the properties and malls
sectors
5
Source: Companies
Notes:
1 Properties Average: São Carlos and CCP
2 Malls Average: BR Malls, Multiplan, and Iguatemi
4.0x 3.2x
Source: Bloomberg (01/09/2013)
2012 EBITDA Margin
BRPR vs Competitors
(Market Cap – R$ mm)
Properties
Average
Shopping Malls
Average
90%
84%
73%
6. Great Potential for Market Consolidation
6
The Company has a proven track record as the consolidator of the highly fragmented Brazilian
commercial properties market
Addressable Market1: 36.3 mm m2
BRProperties
10 Organized
Companies
58%
Organized
Companies
12%
Non-Organized
Market
88%
42%
Fragmented Industry¹ (in terms of GLA - m2)
1 Including existing properties only
Acquisition Pipeline (R$ million)
Office Industrial Total
1.867
920
2.787
7. Portfolio: Strategic Positioning
7
Irreplicable portfolio, present in 14 states, and mainly concentrated in the best and
most liquid regions of the country
— Office: 44
— Warehouse: 36
— Developments: 13
— Retail: 30
Number of Properties : 123
Total Properties GLA: 2,222,637 sqm
— Office: 597,387 sqm
— Warehouse: 1,189,693 sqm
— Developments: 321,503 sqm
— Retail: 114,054 sqm
Portfolio Breakdown – Market Value Existing Properties/Development (% Market Value)
Office
Warehouse
BRPR
Retail
Portfolio Breakdown – Footprint
67%
21%
12%
São Paulo Rio de Janeiro Others
% GLA
49%
21%
25%
5%
Office AAA Office Industrial Retail
90%
10%
Existing Properties Developments
8. 8
Most Defensive and Resilient Business…
Vacancy Rate
Despite having experienced several cycles throughout the years, the Company’s delinquency and
vacancy rate have been consistently low
Delinquency Rate
1Q12 2Q12 3Q12 4Q12
1,0%
1,9%
3,2%
2,6%
1,1%
1,3%
4,5%
4,0%Physical
Financial
0,9%
0,0% 0,0% 0,3%
1,1%
0,1%
0,3%
0,0%
0,5%
0,0% 0,0% 0,0%
1,1%
0,2%
0,0% 0,2%
0,0%
1,0%
2,0%
3,0%
4,0%
5,0%
1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12
9. Oil & Gas Other Consumer
Goods
Financial
Services
Telecom Logistics Industrial Tech
23%
20% 19%
14%
10%
7% 6%
1%
9
Tenant base entails some of the most recognized companies in the country, spanning wide
industry diversification
Tenants Composition by Sector
High Credit-Quality Tenants
Main
Tenants
10. Average office lease term: 5-10 years
Average warehouse lease term: 5-10 years
Expiration Schedule
(% revenues)
Market Alignment Schedule
(% revenues)
Inflation Adjustment Indices
Lease Contract Characteristics
Lease contracts in place allow for stable, predictable cash flows, while creating a very low
vacancy risk scenario and considerable upside potential in revenues
10
Annual Inflation Adjustments
— 100% of lease contracts are indexed to inflation
Triple Net Contracts
— Tenant is responsible for all operating property costs
— Costs include: taxes, insurance, and maintenance
expenses
Next 2 Years
— 52% market alignment
— 16% expiration
Bank Guarantees on Leases
— Standard practice in Brazil
— Protects against delinquencies from smaller tenants
Tenant Delinquency
̶ Delinquency exceeding 30 days, lessor has right to
break the contract and remove the tenant
Main Characteristics
88%
8%
4%
IGP-M
IPCA
Other
2012 2013 2014 >2015
1%
6%
9%
84%
2012 2013 2014 >2015
7%
20%
25%
48%
11. Initial 4Q12Initial 12 months later
Initial 45 days later
Ventura East (Acquired in Apr/2012)
11
Adding Value: Performance Improvement
Outstanding management leads to very fast operating improvements and impressive increases in
the short and mid term
RB 115 (Delivered in Dec/2010)
C&A Portfolio (Acquired in Dec/2010)
TNU (Acquired in Mar/2010)
Cap Rate
+310bps
8,5%
11,6%
Cap Rate
+280 bps
12,3%
15,1%
Cap Rate
+260 bps
10,5%
13,1%
Cap Rate
+180 bps
10,6%
12,4%
Initial 3 months later
12. Adding Value: Impressive Real Gains on Rental Prices
12
Leasing Spreads – New Leases
Company has built a successful track record on increasing spreads in both contract renegotiation
and new leases
Leasing Spreads – Lease Renewals and Market Alignments
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12
21%
24% 24%
34%
36%
16%
21%
35%
23%
13%
16%
24%
16% 17%
Office Industrial Retail
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12
15% 14%
12%
39%
34%
15%
27%
8%
11%
28%
34%
46%
10%
Office Industrial Retail
2010 2011 2012
72.492 74.642
191.255
New Areas Leased (sqm)
13. Adding Value: Portfolio Recycling
13
BR Properties maintains a constant portfolio recycling by selling properties that have reached
their maturity and full potential for value creation
Exit Cap RatesSold Properties (R$ million)
Average
2009
Average
2010
Average
2011
Average
2012
11,4%
8,6%
9,2%
8,4%
2009 2010 2011 2012 Total
90
353
37
89
137
14. Selective Developments
14
13 development projects, which once finalized, will correspond to 322 thousand sqm of GLA
Ed.CidadeJardim
Type: Office AAA
Location: São Paulo / SP
Delivery Date: 1Q13
Owned GLA: 6,792 sqm
Stake: 50%
Ongoing Projects
Type: Office AAA
Location: São Paulo / SP
Delivery Date: 1Q13
Owned GLA: 14,868 sqm
Stake: 75%
WTNU–TowerIII
Type: Office A
Location: São Paulo / SP
Delivery Date: 1Q13 – Phase 1 (5,185 sqm)
Owned GLA: 14,502 sqm (3 towers)
Stake: 50%
PanaméricaGreenPark
CES:Retail
Type: Retail
Location: Rio de Janeiro / RJ
Data de Entrega: 1Q13
Owned GLA: 2,881 sqm
Stake: 100%
GaiaTerra
Type: Warehouse
Location: Jarinú / SP
Delivery Date: 2Q13 – Phase 1 (23,017 sqm)
Owned GLA: 51,791 sqm (3 Warehouses)
Stake: 67%
Type: Warehouse
Location: Louveira / SP
Delivery Date: 3Q13
Owned GLA: 30,122 sqm
Stake: 100%
DPLouveira7
15. 15
Type: Warehouse
Location: São José dos Campos / SP
Delivery Date: n/a
Owned GLA: 125,000 sqm
Stake: 100%
TechParkSJC
Ongoing Projects
Selective Developments
JKComplex–TowerB
Type: Office A
Location: São Paulo / SP
Delivery Date: 2Q14
Owned GLA: 2.019 sqm
Stake: 50%
Ed.SouzaAranha
Type: Office AAA
Location: São Paulo / SP
Data de Entrega: 2Q14
Owned GLA: 29,539 sqm
Stake: 100%
CESIIBayview
Landbank / Office
Rio de Janeiro/ RJ
22,000 sqm
Downtown
Landbank / Office
Rio de Janeiro/ RJ
21,989 sqm
Downtown
16. 2009 2010 2011 2012
42,4
72,0
124,9
154,2
2009 2010 2011 2012
91,1
178,4
312,1
568,8
2009 2010 2011 2012
112,7
204,5
343,5
630,8
16
Net Revenues
(R$ mm)
Adjusted EBITDA and Margin
(R$ mm and %)
Adjusted FFO and Margin
(R$ mm and %)
460%
Financial Highlights: P & L
524%
81%
87% 91% 90%
264%
37% 34% 36% 24%
19. 19
Dividend
2010 2011 2012
R$ 0,108
R$ 0,193
R$ 0,513
79%
166%
Dividend distribution in the amount of R$160.0 million, related to the fiscal year ended on December
31st, 2012.
2010 2011 2012
0,6%
1,0%
2,0%
75%
93%
* Considering BRPR3’s closing price in 12/28/2012 – R$25.50
Dividend per Share Dividend Yield *
20. 20
Appendix – Real Estate Market
New Supply (sqm) Total Absorption (sqm)
Average Rental Price/sqm (R$/month) Vacancy Rate (%)
100.000
200.000
300.000
400.000
500.000
600.000
700.000
800.000
2007 2008 2009 2010 2011 2012
São Paulo Rio de Janeiro
50
70
90
110
130
150
170
190
2007 2008 2009 2010 2011 2012
São Paulo Rio de Janeiro
1,0%
3,0%
5,0%
7,0%
9,0%
11,0%
13,0%
15,0%
2007 2008 2009 2010 2011 2012
São Paulo Rio de Janeiro
*Excluding Alphaville and Barra da Tijuca regions
-
50.000
100.000
150.000
200.000
250.000
300.000
350.000
400.000
450.000
500.000
2007 2008 2009 2010 2011 2012
São Paulo Rio de Janeiro
Source: CBRE
21. 21
Appendix – Real Estate Market
Marginal
Jardins
Paulista
Downtown
Alphaville
Source: BRPR
93,550 sqm
New FariaLima/JK
2013: 71,233 sqm
2014: 0 sqm
JK Towers – 34,583 sqm - BRPR
Cid. Jardim – 3,871 sqm - BRPR
VilaOlímpia/Bandeirantes
2013: 51,841 sqm
2014: 40,022 sqm
Marginal (New Berrini)
2013: 77,424 sqm
2014: 193,831sqm
VilaOlímpia/JK
2013: 32,000 sqm
2014: 90,668 sqm
Note: In the areas of new supply described above are included only those which will be effectively vacant upon delivery. Therefore, the numbers above
exclude pre-leased areas and new supply owned by BR Properties such as Cidade Jardim,the JK Towers, and Panamérica Green Park (PGP).
PGP – 9,392 sqm - BRPR
Marginal
22. Contact
Investor Relations Team
22
Pedro Daltro
Chief Financial Officer and IRO
Marcos Haertel
IR Manager
Gabriel Barcelos
IR Analyst
Phone: (55 11) 3201-1000
Email: ri@brpr.com.br
www.brpr.com.br