27/03/2013 Year end Re Results s Highli lights ghts Proje - - PowerPoint PPT Presentation

Presented by:

Property & Asset Management Limited

27/03/2013

• Year end Re

Results s – Highli lights ghts

• Proje

jects cts and Market t Ov Overview view

• Prospec

spects ts and Developm lopmen ents ts

 FINANCIALS:  Revenue growth up at 44%  Profit from operations up 5%  Investment and property portfolio up by 22%, stands at P750 million

–4/8/2013

ABRIDGED GROUP STATEMENT OF COMPREHENSIVE INCOME Revenue Operating expenses Other operating income Net foreign exchange (losses)/gains Profit from operations before fair value adjustments Surplus arising on revaluation of properties Profit from operations Net finance costs Profit before tax Income tax expense Profit for the year from continuing operations Discontinued operations Profit from discontinued operations Profit for the year Other comprehensive income Exchange differences on translation of foreign operations Total comprehensive income for the year Total comprehensive income for the year attributable to: Owners of the company Non-controlling interest Earnings per linked unit (thebe) Total distribution (thebe) 2012 P’000 47,203 (16,860) 225 (55) 30,513 107,312 137,825 (15,598) 122,227 (15,792) 106,435

• 106,435

(243) 106,192 68,511 37,681 106,192 205.37 38,27 2011 P’000 (Restated) 32,711 (10,646) 830 1,582 24,477 106,368 130,845 ( 3,337) 127,508 (6,460) 121,048 62 121,110 (239) 120,871 112,936 7,935 120,871 340.92 43.54 44% 5% (4%) (12%)

ABRIDGED GROUP STATEMENT OF FINANCIAL POSITION Assets Property, plant and equipment Intangible asset Investment properties Rental receivable - straight line rental adjustment Investments Deferred tax asset Current assets Assets classified as held for sale Total Assets Equity and Liabilities Equity attributable to the owners of the company Non-controlling interests Long term borrowings Deferred tax liabilities Current liabilities Liabilities directly associated with assets classified as held for sale Total Equity and Liabilities 31-Dec-2012 P’000 22,172 1,000 720,974 3,897 1,980 2,231 23,584 26,400 802,238 354,331 129,863 238,167 26,011 53,866

• 802,238

31-Dec 2011 P’000 (Restated) 311,188 1,000 294,305 6,131 2,152 1,583 21,521 27,270 665,150 293,199 82,941 236,051 11,918 40,644 397 665,150 1 Jan-2011 P’000 (Restated) 246,877 1,000 213,937 5,376 2,323 471 19,655 2,400 492,039 191,018 70,036 187,724 10,108 32,175 978 492,039

GROS OSS S INCOME

 P47.20m 0m – 44% increase ase (201 011– P32.71m 1m)

PROF OFIT T FROM OPERA RATI TIONS ONS

 P137.83m 3m - 5% Increase se (2011 11- P130,84m) m)-at at the back of a prope pert rty y revalu luat atio ion surplus lus of P107,31m 1m (2011: P106,37m 7m)

PROF OFIT T BEFORE RE TAXATI XATION ON

 P122,23m 3m - 4% decre rease se (2011 11- P127,51m) m)-due to an increase ase in net finance ce costs

PROFI OFIT T AFTER R TAXATI ATION

 P106.44m 4m -12% decre rease ase (2011- P121.05 05m) m) –as a result of an increase ase in the income tax expense se due to the adoption n of IAS 12 (Amende nded)-In Inco come Taxes by the Group up

INVESTM STMENT T PORTFO TFOLIO

 P750.02m 2m - 22% increase ase (201 011 1 – P614.78 78m) m)-Masa asa Centre re fair r valued d at P403.78m 8m

LONG TERM BORROW ROWINGS INGS

 P238.17m 7m – 0.9% increase.

• ase. (2011– P236.05m

5m)-st stands nds at 32% of the investment portfol folio io (2011: 1: 38%)

DISTR ISTRIB IBUTI UTION TO UNIT HOLDERS RS

 Total distribut ributio ion 38.27 thebe per linked d unit (2011 11: 43.54 thebe per linked d unit), a decre rease se of 12% 12%

STOC OCK K MARKE KET T STATI TIST STIC ICS  Share re price ce at P6.95 95 - decre rease e of 4.01% % ( 2011– P7.24) 24)  Div ivid idend nd yield ld is s 5.51% 51% compare red to 6.00% 0% in 2011  Share re Price ice as at 24 March ch 2013 3 P6.85 85  Linke ked Units ts in issu sue e at period iod end 35,357,487 357,487 (2011: 1: 34,544, 44,029) 029)  NAV / Share re valu lued ed at P 10.02 02 UP 22% ( 2011 – P8.49) 49)  NAV – adjusted usted for deferre erred taxa xati tion

• n P10.69

.69 up 21.61% .61% ( 2011 – P8.79) 79)  Retu turn rn on Equit ity (ROE) ) -22% 22%

STOC OCK K MARKE KET T STATI TIST STIC ICS S – A VERY UNDERVA VALUED UED SHARE RE

20% 21% 15% 41% 22% 27% 17% 22% 19% 17%

RETURN URN ON EQUITY TY

RDC AVG OTHER STOCKS - PROPERTY 2009 2008 2011 2010 2012 RDC AVG 24% OTHER COUNTERS – AVG 18% 3.38 5.30 4.66 9.08 5.50

P/E - 31/12/ 12/201 2012

1.44 0.95 1.33 0.71 1.21 1

NAV / SHARE PRICE

RDC PRIMETIME TURNSTAR NAP LETLOTLE



The worldwide crisis is yet to be over and the effects, even if not as hard as compared to ones in the developed countries, are also hitting the SADC region and Botswana



That notwithstanding the resilience of the real estate market in Botswana is high and it is confirmed by the large number of developments within the Capital City and the Country confirming the Investor’s confidence.



Rail Park, Sebele Centre and Airport Junction, are the new noticeable Malls in town and are a clear sign of an increasing demand for Retail Space and healthy economy.



Within the new CBD quite a large number of developments, eminently Office Space, have reached or are close to reach completion with few of the corporate companies relocating their head offices. This is instrumental for the CBD to become the Business Hub of Gaborone and confirms the CBD as a prime location.



As a result of the large offering of Office Space on the market, the rental trend is temporary on a down term for all the locations which are not felt to be prime.



The request for Industrial Space is strong along with an ever growing demand for Residential for the middle income earners also a clear sign of overall confidence in the economy. RDC PROPERTIES LIMITED

HIGHLIGHTS of the year 2012



Lansmore Hotel has positioned it self as the best Business Hotel in town according to the enthusiastic feedbacks posted in TripAdvisor.



Masa Square is perceived as the place to be for the educated youth and executives of Gaborone and an increasing number of Patrons is choosing it as the place for their evenings and special events (Facebook, Twitter)



The 3D Movie Theatres (NCC) are pulling a solid amount of foot traffic complementing the now very well established restaurants in the piazza, Ribs & Rumps, Cappello and



Sgotti’s. The feedbacks from the Cinema experience are enthusiastic (Facebook, Twitter)



The Office space is increasingly getting attention from Blue Chip Tenants, eminently new foreigner business entering Botswana and well established Companies looking for their

• wn banner within the CBD and Masa



Few of the Shops in the retail gallery are now well known in town and are attracting returning patrons eager to enjoy exclusive products and their services.



We can proudly say that Masa Centre the 1st Mixed Use development in Botswana has now lift off.

 We proudly record the sale of Plaza to BPOPF (will reflect in 2013 accounts)  Significant leases at Masa Centre- Lansmore Hotel, American Embassy, New

Capital Cinema, Giescke & Devrient, Restaurants (Capello, Ribs & Rumps), Mascom

 Banc ABC commits to one of subsidiary owned premises, Lotsane Complex in

Palapye

 The Brazilian Embassy renews its lease with RDC Properties for another 5 years

• CEREMONIAL OPENING

The Ceremonial Opening of the Centre on the 30th October 2012 certainly marked the beginning of a new dawn as the name of the Centre suggests. The Centre was established to be the “first of its kind” convenient place to meet, do business, shop, play, relax, wine and dine! The event was a great success and was graced by the presence of dignitaries from the Government, Diplomatic and Business community at large as well as some International dignitaries invited by Lansmore Masa Square Hotel.

Feedba edback k on Ceremo emonia ial l Openin ening

“This was an event not to be forgotten” “Wow, Wow and Wow, Well done to the team for an awesome evening, it was perfect in every way ” “The opening was certainly a grand affair” “The dancers on the wall were the highlight of the event”

Cerem emonial ial Openin ening g

 The political crisis in Madagascar and the world wide economic downturn

are unfortunately still effecting on the number of tourists coming to the region.

 The performance of Isalo Rock Lodge in Madagascar continued to be

influenced by the political situation in the country but it is anticipated that with the elections in 2013, the outlook will improve.

 Thanks to the quality of the Lodge and of the product offer the 2013, a

very attentive and careful management of the fixed and variable costs, the Lodge is expected to achieve break-even during 2013.



We are still receiving positive and encouraging report from our clientele via our golden book and via Tripadvisor.com which ranks Isalo with a remarkable 5 full moons, i.e. the maximum rate achievable.



Comments are spanning from the sustainability of the Lodge design in terms of it being eco- friendly, to the quality of the finishes and furniture, to the exceptional position and view on the rock park, to the food and the quality of the service, the live music entertainment and so on.



Isalo Rock Lodge is widely recognized as the best Lodge in southern Madagascar and gets an increasing media coverage on the local broadcasts.

• The Preliminary Feasibility Study has been finalized and

approved by the RDC Board

• The kick-off meeting with the Project Team took place on the

7th of March 2013

• The Consultant’s Team has been fully appointed by PAM and

they are currently finalizing all the pre-tendering activities and documents

• The Project attained Planning Approval and the Building

Approval is expected any time after the Easter Break.

• The Tender Documents are expected to be completed in May

and the award to be finalized at the beginning of June.

TH THANK ANK YO YOU U