Thiago Alonso de Oliveira CEO

Transcription

1 Thiago Alonso de Oliveira CEO June 2018 R E C U R R I N G I N C O M E H O T E L S & R E S T A U R A N T S R E A L E S T A T E D E V E L O P M E N T E X E C U T I V E A I R P O R T

2 DISCLAIMER Management makes forward-looking statements concerning future events that are subject to risks and uncertainties. These statements are based on its beliefs and assumptions and on information currently available to the Company. Forward-looking statements include statements regarding JHSF s intention, estimates or current expectations or those of its Board of Directors or Executive Officers. Forward-looking statements also include information concerning the Company s possible or presumed future operating results, as well as statements preceded by, followed by, or including the words believes, may, will, continues, expects, envisages, intends, plans, estimates or similar expressions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions because they relate to future events and therefore depend on circumstances that may or may not occur. JHSF s future results and shareholder value creation may differ materially from those expressed in or suggested by these forward-looking statements. Many of the factors that will determine these results and values are beyond the Company s ability to control or predict. 2

3 R E C U R R I N G I N C O M E 3

4 Proven Capacity and Successful Track-Record in Developing Innovative Projects Pioneer in the development of hubs around its malls and track -record of 6 malls and over 200,000 sqm of developed GLA Total developed GLA (sqm) 19,000 24, ,514 sqm % 112,000 52,000 59,000 61, , , , ,314 Nov-01 Jan-06 May-08 Apr-10 Dec-11 Jun-12 Apr-13 Aug-13 Oct-14 Oct-15 Learning from experience Business Focus Mixed Use + Mixed Use + Lifestyle Subway Subway Mixed Use + Mixed Use + Lifestyle + + Subway + Mall Mall Housing High End High End Public Transport 19,258 sqm 32,795 sqm 37,671 sqm 50,240 sqm 36,615 sqm 24,006 sqm 1st Subway Mall Only High-End Outlet 4

5 Business Model Overview Centralized management of its mall activities through an integrated model, with a total control of operations and tenant mix Centralization Benefits 360º management view on tenants and common areas Quicker decision process delivering better KPIs Weekly management presence on-site with close eyes on performance Focus on lean operations Size tailor-made decision process Managing factors that impact the occupancy cost Occupancy Cost (1Q18) JHSF Occupancy Cost (%) Room to Bridge the Gap 13,6 Maturing portfolio Condominium Management Promotion Fund Management 13,0 Leasing spreads Tenant mix management Parking Management Utilities 11,6 10,9 Economic ramp-up + 10,3 5

6 Masterplan - Shopping Cidade Jardim Avenues School Co-work Hotel Expansion Cable Car Walking Bridge 6

7 Operational Performance 1Q18 SALES (R$ MILLION) 462 OPERATING INDICATORS 1Q17x1Q18 (%) 5.0% % 3.3% 3.5% 1Q17 1Q18 SSS SAS SSR SAR OCCUPANCY COST (%) 11.7% OCCUPANCY RATE (%) 95.3% 10.3% 93.1% 1Q17 1Q18 1Q17 1Q18 7

8 Operational Performance Year SALES (R$ MILLION) OPERATING INDICATORS (%) 1,762 1,877 2, % 3.8% 6.9% 7.0% 5.7% 4.6% 4.5% 2.4% 6.4% 4.9% 3.8% 1.1% SSS SAS SSR SAR OCCUPANCY COST (%) 11.2% 11.1% 93.9% OCCUPANCY RATE (%) 95.2% 10.2% 91.3%

9 Catarina Fashion Outlet Expansion Masterplan and Potential Expansion Catarina Fashion Outlet II and IIl + lv CFO III + IV CFO II GLA expansion , ,5 All permits and licenses for construction already granted Current GLA CFO II CFO III e IV GLA after expansion 9

10 Potential Expansion and Development Shopping Cidade Jardim New capacity to supply existing demand Shopping Cidade Jardim - GLA expansion Lifestyle experiences proposition 11.5 Existing demand for leisure, gastronomy, kids & family, entertainment and design No vacancy at existing area and land already secured All permits and licenses for expansion already granted Hotel Shopping Cidade Jardim Exclusive high-end to be developed at SCJ complex addressing the demand for high quality hospitality services in the neighborhood Co-work Open space office concept connected to SCJ and all of its amenities Shops Cidade Jardim Shops, omni-channel solution to the finest national and international brands already present at SCJ in a wealthy neighborhood Cidade Jardim Digital Online sales platform for SCJ to offer tenants a new sales channel and clients with a mix of selected brands and exclusive content Own Current GLA Cidade Jardim I Cidade Jardim II GLA after expansion Others - GLA expansion Hotel Co-work Shops GLA after expansion 10

11 Cidade Jardim Shops Extension of Shopping Cidade Jardim 5, sq.m. of GLA. Total of stores: 101 National and international brands Exclusive mix of products: launch of capsule collections Parking spaces: floors 11

12 Life Ponta Negra apartaments - Delivery: 2015 Reserva das águas apartaments - Delivery: 2016 Weekend Club apartaments - Delivery: 2012 Reserva Inglesa apartaments - Delivery: 2017 Condomínio Riverside apartaments - Delivery: 2015 Condomínio Reserva das Praias apartaments - Delivery: 2016 Surroundings of Shopping Ponta Negra Housing market improvement in the primary zone bringing additional 20thousand people to live in the surroundings 12

13 Shopping Ponta Negra Expansion Plans Demand for offices and medical center 1.4 Offices & Medical Centers Current GLA Expansion GLA after expansion 13

14 HOTELS & RESTAURANTS 14

15 Hotels Operator of 5 Hotels & 19 Restaurants under Fasano brand. Growth to come from (i) 3 new hotels in Brazil (each with a restaurant) and (ii) internationalization (US & Europe). No CAPEX expected. 1,904 Average Daily (R$ thousand) 2,040 Occupancy Rate (%) 58% 64% 1Q17 1Q18 1Q17 1Q18 REVPAR (R$ million) Acquired in ,306 Operations in SP, Rio, Fazenda Boa Vista, Punta del Este and Angra dos Reis. Local & int l pipeline already signed 1,103 Management agreements using an asset light model (no CAPEX) 1Q17 1Q18 15

16 Hotels FASANO SÃO PAULO São Paulo - SP UHS FASANO PUNTA DEL ESTE Punta del Este Uruguay UHS FASANO RIO DE JANEIRO Rio de Janeiro - RJ UHS FASANO BOA VISTA Porto Feliz - SP UHS FASANO ANGRA DOS REIS Angra dos Reis - RJ UHS FASANO BELO HORIZONTE Belo Horizonte - MG 4Q18 77 UHS FASANO SALVADOR Salvador - BA 4Q18 70 UHS FASANO TRANCOSO Trancoso - BA 1Q19 30 UHS 16

17 Hotels and Restaurants In December 2017, Fasano Angra dos Reis Hotel was inaugurated in FRAD.E, a condominium of high luxury. The new Fasano has 60 suites, with views to the ocean and to the countryside. In addition, it also has two restaurants, one of them with the novelty of the brand CRUDO. Fasano Angra dos Reis 17

18 Restaurants Acquired in 2014 Synergy gains, improvement on profitability 19 operations focused on SP, Rio, Angra dos Reis, Brasilia, Punta del Este. Number of Couverts 190,673 Average Couvert (R$) , Q17 1Q18 1Q17 1Q18 18

19 REAL ESTATE DEVELOPMENT 19

20 Fazenda Boa Vista Metrics 885 properties 630 sold Inventory 255 units (land) 1.2 million sq.m Units for Rent Use existing inventory to develop rental business Receivables R$187 million 20

21 Sports Houses Metrics 30 units for sale: house + land 13 of sq.m and 17 of sq.m Approximately R$5 million Sports Complex Practice of triathlon Cycling and running circuits will have a total of 3.4 km 21

22 PHASE 1 PHASE 2 Reserva Cidade Jardim PHASE 3 Residential units: 58 units Apartments from 152 sq.m to 380 sq.m Total private area: 15, sq.m Constructed area: 32, sq.m Ground area: 6, sq.m 22

23 Cidade Jardim Complex 120k sq.m - Private area Launch subject to funding and appropriate market conditions. Units for Rent. 23

24 EXECUTIVE AIRPORT 24

25 Executive Airport São Paulo Catarina Capex to go R$25 million Total Capex R$446 million 1,940 meters of runway 3,000 sq.m. of hangars Insufficient infrastructure for executive aviation; Commercial airports prioritize commercial aviation; Global trend: segmentation in different airports; Le Bourget Paris Teterboro NY Farnborough London Brazil: 2nd largest executive aviation fleet in the world; São Paulo: 34% of executive aircraft fleet Distance to/from São Paulo 50 km 35 min. by car 8,500 sq.m. of patios 14 min by helipcopter 25

26 Executive Airport São Paulo Catarina - Masterplan 26

27 ri.jhsf.com.br R E C U R R I N G I N C O M E H O T E L S & R E S T A U R A N T S R E A L E S T A T E D E V E L O P M E N T E X E C U T I V E A I R P O R T

28 Real Estate Development CIDADE JARDIM CORPORATE CENTER (São Paulo SP) 100% Sold - Already delivered PSV: R$820 million Appreciation: 55% PARQUE CIDADE JARDIM (São Paulo SP) 100% Sold - Already delivered PSV: R$920 million Appreciation: 330% FAZENDA BOA VISTA (Porto Feliz SP) PSV: R$2,8 million Appreciation (landbank): 350% PRAÇA VILA NOVA (São Paulo SP) 100% Sold - Already delivered PSV: R$240 million Appreciation: 140% BENEDITO LAPIN (São Paulo SP) 100% Sold - Already delivered PSV: R$580 million Appreciation: 87% HORTO BELA VISTA (São Paulo SP) 99% Sold - Already delivered PSV: R$1.100 million Appreciation: 80% VITRA (São Paulo SP) 100% Sold - Already delivered PSV: R$130 million Appreciation: 82% RESIDÊNCIA CIDADE JARDIM (São Paulo SP) 100% Sold - Already delivered PSV: R$220 million Appreciation: 120% MENA BARRETO 423 (São Paulo SP) 72% Sold - Already delivered PSV: R$80 million Appreciation: 5% CIDADE JARDIM TOWN HOUSES (São Paulo SP) 50% Sold - Already delivered PSV: R$40 million Appreciation: - 28

29 Portfolio Overview - Shopping Cidade Jardim Premium location, high-end positioning and unique value proposition transformed in a landmark in São Paulo Total Sales (R$ / sqm per year) 21,661 20, % 1st large high end and mixed-used project in Brazil Cluster of the highest income families in São Paulo Niched Lifestyle No vacancy, no delinquency 19, One of the highest sales per sqm if compared to major São Paulo peers 18,912 17,597 29

30 Portfolio Overview - Catarina Fashion Outlet Delivering a unique experience to consumers, counting with the most sought-after brands at attractive prices Total Sales (R$ / sqm per year) 18, % 19,714 18,912 13,530 17,597 The only truly high end outlet in Brazil Margins of one of the busiest highways in São Paulo (c. 53 thousand vehicles per day) Major geographic hub on near cities (40 minutes from São Paulo) 56% of shoppers come from São Paulo and 55% are high-end customers No vacancy, no delinquency, no discounts One of the highest sales per sqm if compared to major São Paulo peers 30

31 Catarina Fashion Outlet Expansion Phase 2 5,500 sq.m. of GLA 4,500 sq.m Total: 23 stores 1,000 sq.m The front: luxury brands cluster +2 stores in the expansion 90% Leased Opening August/

32 Portfolio Overview - Shopping Bela Vista Shopping Bela Vista is located in a growing region in the city of Salvador, across a major traffic intersection integrated to the city s public transportation system Foot Traffic (# consumers 000) 9,954 9, Growing density in the surroundings with real estate development in the whereabouts Power centers establishing in the surroundings Sales Growth (R$ mm) 445 New elementary school to open in January 2019 High density in the primary zone with more than 800 thousand people living within 2km 406 Approximately 1 million visitors per month

33 Portfolio Overview - Shopping Bela Vista Demand for satellite stores Expansion Current GLA Expansion GLA after expansion 33

34 Portfolio Overview - Shopping Ponta Negra Shopping Ponta Negra is a premium mall in one of the fastest growing areas in Manaus, near tourist landmarks Foot Traffic (# consumers 000) 3,978 4, Q17 1Q18 Residential area for classes A and B Sales Growth (R$ mm) Growing density with new real estate development nearby Over 5,000 recently developed residential units nearby Tourist area with high traffic of people and a mandatory route for eco-tourism Increasing demand for corporate and medical offices in the region Q17 1Q18 34

35 Restaurants Fasano Restaurants Portfolio Location Total Seats Baretto São Paulo - SP 60 Fasano São Paulo - SP 146 Nonno Ruggero São Paulo - SP 55 Gero São Paulo - SP 90 Parigi São Paulo - SP 140 Trattoria São Paulo - SP 150 Nonno Ruggero CJ São Paulo - SP 80 Bistrot Parigi São Paulo - SP 110 Gero Brasília Brasília - DF 90 Al Mare Rio de Janeiro - RJ 95 Baretto-Londra Rio de Janeiro - RJ 80 Gero Ipanema Rio de Janeiro - RJ 60 Gero + Trattoria (Barra) Rio de Janeiro - RJ 150 Gero Trattoria (Leblon) Rio de Janeiro - RJ 90 Fazenda Boa Vista* Porto Feliz - SP 88 Crudo* Angra dos Reis - RJ 70 Fasano Punta del Este* Punta del Este - UY 70 35