Tuesday, 27 May, 14 1

Transcription

1 1

2 Paul Godfrey, C.M. Chairman, RioCan Real Estate Investment Trust 2

3 Forward Looking Statements Certain information to be discussed during this annual and special meeting, or in the management presentation which will follow the formal portion of the meeting, contains forward-looking statements within the meaning of applicable securities laws including, among others, statements concerning RioCan s 2014 objectives, RioCan s strategies to achieve those objectives, as well as statements with respect to management s beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Such forward-looking statements reflect management s current beliefs and are based on information currently available to management. These statements are not guarantees of future performance and are based on RioCan s estimates and assumptions and are subject to risks and uncertainties, including those described in RioCan s management discussion & analysis regarding the 2013 audited financial statements and the MD&A which accompanied the trust s first quarter financial statements for the period ended March 31, 2014, which could cause RioCan s actual results to differ materially from the forward-looking statements to be discussed during this annual and special meeting. Although the forward-looking information discussed during this annual and special meeting is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forwardlooking statements. 3

4 4

5 5

6 Leasable Space < 1,000,000 ft 2 6

7 Leasable Space > 50,000,000 ft 2 7

8 Rental Income $13M $1,200M 8

9 Enterprise Value $100M $14.5B 9

10 10

11 US Growth 20% of RioCan s income-producing properties, by square feet, are in the US generating 16% of RioCan s overall rental revenue TX PA VA MA CT NJ MD 11

12 12

13 Executive Team 13

14 14

15 15

16 16

17 17

18 Vision 20/20 18

19 19

20 Edward Sonshine O. Ont., Q.C. Chief Executive Officer, RioCan Real Estate Investment Trust 20

21 21

22 Revenues In Millions at RioCan s Interest % CAGR 988 1,114 1,

23 Net Operating Income In Millions at RioCan s Interest 12.9% CAGR

24 Operating FFO* Per Unit $1.22 $ % CAGR $1.43 $1.52 $ * Note: FFO reported under IFRS for 2010 onwards, excludes trading gain income 24

25 Payout Ratio Distributions Per Unit net of DRIP 104% 93% 87% 86% 81% 75% 73% 66% 70% 64% Payout Ratio AFFO Payout Ratio OFFO 25

26 Portfolio Concentration in Canada s Six Major Markets 71.7% 72.2% 66.3% 65.2% 65.9% 67.5% Q

27 Growth in Assets and Debt in the Past Five Years In Millions 20.5% CAGR % CAGR Debt Assets 27

28 Leverage and Interest Coverage 2.9x 2.9x 2.6x 2.6x 2.7x 2.8x 2.9x 2.7x 2.6x 2.5x 2.5x 2.7x 2.8x 2.2x 47.3% 48.2% 51.9% 53.1% 53.8% 53.9% 56.6% 56.3% 54.9% 55.6% 49.1% 46.4% 43.5% 44.0% Leverage Interest Coverage 28

29 29

30 1717 Avenue Rd. Toronto, Ontario 30

31 31

32 Development Program Advantages Risk management Capital strategy Continued growth 32

33 2014 The Stockyards Weston Road & St. Clair Toronto, Ontario 33

34 2014 The Stockyards Weston Road & St. Clair Toronto, Ontario 34

35 2014 The Stockyards Weston Road & St. Clair Toronto, Ontario 35

36 2014 Tanger Outlet Mall Expansion Cookstown, Ontario 36

37 2014 Tanger Outlet Mall Ottawa, Ontario 37

38 2014 Redevelopment of Blue Mountain Mall Collingwood, Ontario 38

39 2015 Sage Hill Shopping Centre Calgary, Alberta 39

40 2015 The Cube RioCan Yonge Eglinton Centre Toronto, Ontario 40

41 2015 Herongate Shopping Centre Ottawa, Ontario 41

42 Bayview Avenue Toronto, Ontario 42

43 2016 Redevelopment & Expansion of Yonge Sheppard Centre Toronto, Ontario 43

44 Bathurst Street Toronto, Ontario 44

45 College Street Toronto, Ontario 45

46 2016 Redevelopment & Expansion of Colossus Shopping Centre Vaughan, Ontario 46

47 2017 East Village Calgary, Alberta 47

48 2017 East Hills Power Centre Calgary, Alberta 48

49 2017 King Street West & Portland Redevelopment Toronto, Ontario 49

50 2017 North East Corner of Yonge & Eglinton Toronto, Ontario 50

51 51

52 2018 Brentwood Shopping Centre Redevelopment Calgary, Alberta 52

53 2018 Expansion & Redevelopment of Eglinton & Laird Shopping Centre Toronto, Ontario 53

54 2018 Expansion & Redevelopment of Silver City Gloucester Ottawa, Ontario 54

55 55

56 2020 The Well Toronto, Ontario 56

57 2020 The Well Toronto, Ontario 57

58 2020 The Well Toronto, Ontario 58

59 2020 The Well Toronto, Ontario 59

60 60

61 Year to Year Comparison A unit purchased on June 5 th, 2013 and held until yesterday would have yielded a total return of 9.0% 61

62 62