Investor Presentaiton
Summary IFRS P&L
+15%
-
€242.0 €(18.2) = €223.8
€258.0
Impact of the Deka disposal
on rental income²
31-Dec YE - € MM
2018 A
2019A
YOY A
9M 2020
-
A
Rental Income
242.0
258.0
+6.6%
209.7
-
Service Fee Income (SFI)
B Property Expenses
Net Rental Income
20.0
22.4
+12.0%
18.1
(29.8)
(40.6)
+36.2%
(24.5)
B
232.2
239.8
+3.3%
203.3
Net Income from Hotel Operations
6.1
5.8
C
0.3
C
Net Income from Development Activities
0.1
0.6
22.8
D
Net Valuation Result on Invest. Property
239.4
406.8
+69.9 %
89.9
E
Other Income
49.7
9.1
6.6
F
G&A¹
(39.2)
(34.3)
(33.4)
D&A
(5.8)
(9.8)
(8.3)
Profit/ Loss before Finance Cost
482.4
617.9
+28.1%
281.3
G
Net Interest Expense
(53.6)
(56.4)
(54.0)
G
Other Financial Gains / (Expenses) / (Losses)
(6.6)
(60.8)
(14.9)
F
Profit/ Loss before Income Tax
422.2
500.7
+18.6%
212.4
H
Income Tax Expenses
(60.7)
(108.5)
(46.1)
Profit for the Period
361.5
392.2
+8.5%
166.3
Non-Controlling Interests
3.4
0.0
(0.1)
Profit/ (Loss) attributable to the Parent Company
364.9
392.2
+7.5%
166.2
Source: Company information
Notes:
1. Comprises employee benefits, impairment of financial assets and other expenses
2. The Deka portfolio disposal had an impact on the 2018 IFRS P&L statement. €18.2 MM impact corresponds to the impact on rental income only.
A Rental income growth reflective of:
1.4% LfL rental growth in 2018, 2.0% in
2019 and 1.5% in 9M'20
c.585k sqm GLA developed in 2018 and
320k sqm in 2019
Net acquisition of 21k sqm GLA in 2018
and 156k sqm in 2019
Increase in property expenses primarily due
to repairs and improvements of acquired
assets and addition of income generating
assets to total property portfolio
Decrease for the 9M 2020 period reflects the
decrease on income from operations due to
COVID-19
D YoY change in value of investment
properties per the appraiser, JLL. Includes
LfL yield compression and valuation gain on
development
E Includes gain on portfolio sale to Deka
(€32.3 MM), sale of electricity grid (€7.6 MM)
and sale of non-core assets (€4.8 MM) in
2018, gain on sale of non-core asset and
profit out of sale of land (€5.8 MM) and
profits related to a turnkey development
project (€0.5 MM) in 2019
Increase in employee benefits in-line with
CTP's headcount growth, countered by a
reduction in energy consumption, tax and
audit expenses, insurance costs, etc.
G Comprises net interest expense on debt,
bank and arrangement fees for new facilities
and change in fair value of derivatives
H Includes cash interest expense and deferred
taxes related to net revaluation result
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