29/03/2012 Year End Re Results s Highli ligh ghts ts Proje - - PowerPoint PPT Presentation

Presented by:

Property & Asset Management Limited

29/03/2012

• Year End Re

Results s – Highli ligh ghts ts

• Proje

jects cts and Market t Ov Overview view

• Prospec

spects ts and Developm lopmen ents ts

 FINANCIALS:  REVENUE GROWTH STABLE AT 7%  PROFIT BEFORE TAX UP BY 203%

 INVESTMENT AND PROPERTY PORTFOLIO UP BY 31%, STANDS AT P609M

ABRIDGED GROUP STATEMENT OF COMPREHENSIVE INCOME Revenue Operating expenses Finance costs Profit from operations Other income Profit before fair value adjustments and exchange differences Exchange gain/(loss) Surplus on revaluation of investment property Profit before tax Income tax expense Profit after tax for the year from continuing operations Discontinued operations Profit/(loss) profit from discontinued operations Profit for the year Other comprehensive income Exchange difference s on translating foreign operations Total comprehensive income for the year Total comprehensive income for the year attributable to:

• Non-controlling interests
• Equity holders of the parent

Interim dividend (thebe) Interim debenture interest (thebe) Final dividend (thebe) Final debenture interest (thebe) Total distribution 31-Dec-2011 P’000 32,711 (10,646) (4,139) 17,926 1,632 19,558 1,582 106,368 127,508 (27,874) 99,634 62 99,696 (239) 99,457 7,512 91,945 99,457 0.32 15.82 0.54 26.86 43.54 31-Dec-2010 P’000 30,704 (8,767) (4,552) 17,385 7,707 25,092 (582) 17,583 42,093 (10,568) 31,525 (1,835) 29,690 (349) 29,341 1,176 28,165 29,341 0.31 15.61 0.83 41.25 58.00 7% 203% 216%

ABRIDGED GROUP STATEMENT OF FINANCIAL POSITION Assets Property, plant and equipment Intangible assets Investment properties Rental receivable - straight line rental adjustment Investments Current assets Assets classified as held for sale Total Assets Equity and Liabilities Unit holders' funds Non-controlling interests Long term borrowings Deferred taxation Current liabilities Liabilities directly associated with assets classified as held for sale Total Equity and Liabilities 31-Dec-2011 P’000 311,188 1,000 294,305 6,131 2,152 21,520 27,270 663,566 252,349 80,774 236,051 53,352 40,643 397 663,566 31-Dec-2010 P’000 246,877 1,000 213,937 5,376 2,323 19,655 2,400 491,568 171,159 68,292 187,724 31,240 32,175 978 491,568

INVESTM STMENT T PORTFO TFOLIO

 P608.65m 5m - 31% increase ase (201 010 0 – P464.14 14m) m)  Capital l work in progre ress ss repre rese sent nts s P288.11 11m of Masa Centre Project ct (will l be revalu lued d and reclassifi lassified d as an Investment Propert rty y in 2012)

GROS OSS S INCOME

 P32.71m 1m – 7% increase sed (201 010 0 – P30.70m) m)

PROF OFIT T FROM OPERA RATI TIONS ONS

 P17.93m - 3% Inecrease ase (201 010- P17.39m) m)

PROF OFIT T BEFORE RE FAIR IR VALUE ADJUSTM USTMENTS NTS AND EXCHA HANGE NGE DIFF FFERE RENCE NCES

 P19.56m - 22% decre rease se (2010 10- P25.09m) m) In 2010 we had a once-off ff exceptio iona nal income from Madagasc ascar ar transac actio ions s of P6.63m

PROF OFIT T BEFORE RE TAXATI XATION ON

 P127.51m 1m -203% % increase ase (2010 10- P42.09m) m) – Due to the surplu lus s on revalu luat atio ion of Investment nt Prope pert rtie ies.

• s. The valuations

ns were done by an external al valuer

LONG TERM BORROW ROWINGS INGS

 P236.05m 5m - 39% increase.

• ase. (2010 – P187.72

72m) m) Incre rease ase due to financin cing of Masa Centre re.

DISTR ISTRIB IBUTI UTION TO UNIT HOLDERS RS - FINAL NAL & INTERI RIM

 43.54 thebe per Linked d Unit - down by 25% (2010 – 58.00 thebe per Linked d Unit)  Final distrib ributio ion n 27.40 thebe per Linked d unit (2010 – 42.08)  Proposing ing an elective ive capitalisat lisatio ion of 50% of the final l distribu ributio ion

STOC OCK K MARKE KET T STATI TIST STIC ICS

 Share e price at P P7.24 - increase e of 15% ( 2 2010 – P6.30)

 Div ivid idend nd yield ld is s 6.01% 01% compare red to 9.21% 1% in 2010  Share re Price ice as at 28 March ch 2012 2 P6.85 6.85  Linke ked Units ts in issu sue e at period iod end 34,544,029 544,029 (2010: 0: 33,541, 41,022) 022)  NAV / Share re valu lued ed at P 7.31 1 UP 43% ( 2010 – P5.10) 10)  NAV – adjusted usted for deferre erred taxa xati tion

• n P8.85

85 up 46.77% .77% ( 2010 – P6.03) 03)



Com Commerc ercia ial pro project ects hav ave be been en mus ushroo hrooming ing in in most

• st com

commerc ercial al zone zones of

• f Gab

aboron

• rone

th thereby ereby addin ing a no notic iceable eable ch change nge to to su supply ly and nd dem emand nd dyn ynamic mics of

• f comme

commerci rcial bui uildin ings to to th the prop roperty erty cli limate

• te. We

We ca can con confirm firm tha hat th the dem emand nd for

• r Reta

etail and and In Indus ustr tria ial buil ildin ing is is stil ill very stron

• ng.



Clea Clearly ly th the marke market is is very ery sel elec ecti tive in in terms terms of

• f LOCA

OCATI TION ON, QU QUALITY ALITY and nd ST STAND ANDARDS ARDS and nd it it call lls for dedicated icated Property erty Manage geme ment nt.



New ew and and re relo loca catin ing busi siness ss are re very ry spe specif ific ic on

• n th

their loc location

• ion. Th

This is is crea reati ting ng vaca cancie ies in in so some me area reas of

• f the cit

ity tha hat are re no now a ch challen lenge to to fil ill comp compared ed to to prev revious ious year

• years. Loc
• cati

tion no now rema remain ins th the ma main in ke key in in decis ision ion making

• making. RD

RDC is is cu curren rrentl tly ver ery we well pos

• sit

itione ioned, as as 7.40 40% Rent ntal increas creases es on

• n a year to

to year basi sis and 0.77 77% vacan cancy rate is is showing ng.



Th The PAM AM Team eam is is focu focused sed in in st stren ength gthen enin ing lon long ter erm rela relati tion

• nship

ship with

• th. Th

The Ten Tenant nts are re to to be be perce ceiv ived ed as as Busi sine ness ss Part rtners ners.



The The in incr crea eased sed Cus ustome tomer Ce Cent ntric ic ap appro proach ch is is sh showing

• wing good

good res esult ults re refl flec ected ted by by the the impro roved Debto tors Days

RDC PROPERTIES LIMITED

MARKET OVERVIEW

 PROJECTS : MASA CENTRE

• The completion of the Masa Centre has proved to be challenging, but the Complex

attained practical completion in December 2011. Masa Centre has been accounted for as WIP for the 2011 Financial Year

• The Contractor is leaving the Site. A skeleton force will of professionals will be left

behind for the day to day attendance in the first roll-over period

• A number of Tenants are Fitting Out their premises, while Ribs and Rumps opened its

doors to public already in February. Cappello is due to open beginning of April. Other Tenants are in the process of obtaining their Trading Licence

• We are looking at April to see the majority of the Shops to start trading.
• The Anchor Tenants will start their operations during the 2nd Quarter

 Roll Out Progress  The Retail Gallery: due to be fully operating in April / May  The Food Court: Ribs and Rumps is operating since February while Cappello will beginning of April. The 5th option for fine dining / chill out will soon be revealed  The Hotel: after the amicable termination of the Contract with ASL the new operator have stepped in. Masa Centre will host a 5 * Hotel. The completion of the Fit Out is proving to be more complex than anticipated. The first guest is anticipated during the 2nd Quarter of the year.  Casino: the Operators have experienced a set-back in

• btaining the Licence in connection with a requested change to

the name of the applicant Company.  In the same period the 5 Cinemas will book the 1st 3D Blockbuster  Office Space: Centre Resident Manager’s Office is now open and we are pleased by the increasing Visitors looking for our Prime office space  Project Cost  Project costs well under present market construction costs (for similar projects)  The preliminary valuation of the Building, carried out independently (Fair Market Value, Forced Sale Value and Insurance Replacement Cost) are showing figures very positive compared to the Project Cost

 Marketing  Upon receipt of the opening dates by the Anchor Tenants we will be triggering the launching campaign through the media  The vibe around Masa Centre is back on the raise thanks to Ribs and Rumps operating guests are entering the Centre day and night  In the mean while leaflets are produced and distributed in selected areas in town and the word

• f mouth is powerfully spreading the news.

 Life will soon roam throughout

Few Pictures…

Few Pictures…

Few Pictures…

 The forward booking for this year are very good and much better than the

• riginal estimates as ran in October;

 The lodge re-opened this month and has already had two group, one of 50

pax

 Of significant importance to the lodge is the fact that Air Madagascar has

decided to open a route with light aircrafts from the capital and Tulear to Isalo, pulling feet and making Isalo a destination

 A mining project will be starting soon at 60km from the park and we are

entering agreements to host the management within the premise

 Early indications of forward bookings revised occupancy estimated for

2012 is 28.83%

 Independent analysis of the Lodge potential within the market is predicting

the Lodge to break even early 2013



“Awesome location, equally fantastic hotel!” Isalo rock lodge is total luxury y in the middle le of the most fantast stic c landsca scape

• pe. The lodge staff

f could not have been n more friendly ndly or warm and welcoming

• ing. The rooms are great, very comfort

rtable able with fantast stic ic views.

• s. The

food d is amazing, the facilit litie ies s brilli lliant nt..in in fact there is nothing not to like about it. I Would d very much like to return n to this part of the world, d, and I would most certain inly ly stay at the Isalo Rock Lodge again! n!

• OFFICE SPACE ONLY AVAILABLE
• For more information on letting opportunities contact: masacentre@rdc.bw

30/03/2010

–5/10/2012

TH THANK ANK YO YOU U