COMPANY PRESENTATION¤sentationen/2014… · CEE Investment portfolio COMPETITIVE ADVANTAGE IN CEE...

COMPANY PRESENTATION

January 2014

Core expertise: development, ownership and management of large and modern office properties in Central Europe

Three core regions: Austria, Germany, CEE

Six core countries: Austria, Germany, Poland, Hungary, the Czech Republic, Romania

Focus on office properties

Total property assets: EUR 4 bn

Investment portfolio (income-producing): EUR 3.4 bn

2

CA Immo Group at a glance Office specialist in Central Europe

BUSINESS PROFILE

* Slovakia, Serbia, Bulgaria, Slovenia, Croatia, Switzerland

MARKET PROFILE

Market capitalisation: approx. EUR 1.2 bn

Listed on the Vienna Stock Exchange since 1988 (ATX member since March 2011)

Bloomberg: CAI:AV

Reuters: CAIV.VI

ISIN: AT0000641352

18%

32%

50%

Total property assets (FV)

Austria

Germany

CEE

18%

50%

32%

Shareholder structure

UniCredit Bank Austria

Retail shareholders

Instututional shareholders

32%

18%14%

10%

10%

9%

7%

Total property assets (FV)

Germany

Austria

Poland

Romania

Hungary

Czech Republic

Other*

72%

28%

Investment portfolio (FV)

Office

Other

PORTFOLIO

Total property asset base of approx. EUR 4 bn at year-end

Germany accounts for largest single market share

Regional exposure has shifted towards CEE post sale transactions in Germany

The Eastern European and German property portfolios should be rebalanced over the next two years to achieve an equal weighting with the Austrian exposure remaining largely stable (asset sales in CEE, portfolio growth through German developments)

4

Portfolio Total property portfolio

PROPERTY PORTFOLIO

* Slovakia, Serbia, Bulgaria, Slovenia, Croatia, Switzerland

18%

32%

50%

Exposure by region (FV)

Austria

Germany

CEE

32%

18%14%

10%

10%

9%

7%

Exposure by country (FV)

Germany

Austria

Poland

Romania

Hungary

Czech Republic

Other*

13%

8%

8%

11%

12%8%

10%

10%

20%

Exposure by city (FV)

Vienna

Munich

Frankfurt

Berlin

Warsaw

Prague

Budapest

Bucharest

Other

0

200

400

600

800

1.000

1.200

1.400

Germany Austria Poland Romania Hungary Czech Republic

Other*

Property portfolio (fair value, EUR mn)

Further enhancing market position in existing core markets has clear priority over new market entries

Increasing portfolio share of high-quality office properties to drive operational efficiency

Disposal of Hesse-Portfolio has reduced exposure to secondary cities

Partial sale of Tower 185 has improved the risk profile of the portfolio (lower concentration/location risk)

5

Portfolio Investment portfolio*

STRATEGIC PORTFOLIO TARGETS

** Slovakia, Serbia, Bulgaria, Slovenia, Croatia

0

100

200

300

400

500

600

700

800

900

Austria Germany Poland Hungary Romania Czech Republic

Other*

Investment portfolio (fair value, EUR mn)

Total Office

20%

24%56%

Split by region(FV)

Austria

Germany

CEE

72%

12%

7%

6%

1% 2%

Split by sector (FV)

Office

Logistics

Retail

Hotel

Residential

Other

20%

24%

17%

12%

11%

9%

7%

Split by country (FV)

Austria

Germany

Poland

Hungary

Romania

Czech Republic

Other**

* income-producing properties

Large-scale, energy-efficient, modern office space

Centrally located, well-connected to public transport

Multi-tenant

Managed internally by local asset management team

6

Portfolio Core markets and assets

CORE OFFICE

* Slovakia, Serbia, Bulgaria, Slovenia, Croatia

0

100

200

300

400

500

600

700

800

Vienna Munich Frankfurt Berlin Warsaw Prague BudapestBucharest Other

Core markets (fair value, EUR mn)

Total Office

16%

6%

5%

8%

12%

9%

12%

11%

21%

Core markets (FV)

Vienna

Munich

Frankfurt

Berlin

Warsaw

Prague

Budapest

Bucharest

Other

12%

6%

8%

9%

19%10%

13%

10%

13%

Core markets - office assets (FV)

Vienna

Frankfurt

Munich

Berlin

Warsaw

Prague

Budapest

Bucharest

Other

13%

25%

19%

13%

10%

10%

10%

Core segment - office (FV)

Austria

Germany

Poland

Hungary

Romania

Czech Republic

Other*

7

Portfolio Investment portfolio

8,8%8,0%

7,4% 7,0%6,6% 6,6%

6,0%

7,0%

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

Romania Czech Republic

Hungary Poland Germany Other* Austria Total

Gross initial yields

6,4%

11,5%

20,3%

14,8%

4,0%

23,4%

5,1%

11,2%

0%

5%

10%

15%

20%

25%


Hungary Poland Germany Other* Austria Total

Vacancy

0

20

40

60

80

100

120

140

160

180

Tower 185 (Frankfurt)

Skygarden (Munich)

River Place (Bucharest)

Lipowy Office Park (Warsaw)

H&M Logistik

(Hamburg)

Europolis Park 1

(Bucharest)

Rennweg 16 (Vienna)

Kavci Hory (Prague)

Spreebogen (Berlin)

Warsaw Towers

(Warsaw)

Capital Square

(Budapest)

Galleria (Vienna)

Saski Crescent (Warsaw)

Bucharest Business

Park

Europolis Park 1

(Blonie)

Top 15 properties (fair value, EUR mn)

* Slovakia, Serbia, Bulgaria, Slovenia, Croatia

Clear focus on capital Vienna

Office properties match well with market segment mainly sought-after

Strong position in terms of occupancy versus peers

Major tenants: Österreichische Post, Verkehrsbüro, Robert Bosch AG, UPC, Siemens, Peek & Cloppenburg

8

Investment portfolio Austria

MARKET POSITION

FV investment properties: EUR 696 mn

Investment portfolio share: 20.6% (FV), 16% (sqm)

Lettable area: 322,163 sqm

Occupancy: 95%

Gross initial property yield: 6%

PORTFOLIO METRICS

Rennweg 16, Vienna Galleria, Vienna Silbermöwe/Lände 3, Vienna

47%

27%

16%

4%6%


Office

Retail

Hotel

Residential

Other

55%

18%

15%

5%7%

Investment portfolio (sqm)

Office

Retail

Hotel

Residential

Other

Focus on Munich, Frankfurt, Berlin

High portfolio quality on the back of own developments

Major tenants: PWC, Total, H&M

9

Investment portfolio Germany

MARKET POSITION

PORTFOLIO METRICS




Occupancy: 96%

Gross initial property yield: 6.6%

Skygarden, Munich Tower 185, Frankfurt Tour Total, Berlin

79%

17%

2% 2%


Office

Logistics

Hotel

Other

55%

42%

2% 1%Investment portfolio (sqm)

Office

Logistics

Retail

Hotel

Size: top-tier office market position in core markets

Location: investments focussed on central locations in major CEE capitals

Experience: proven track record since early nineties

Network: close ties with key industry players and occupiers (local asset management)

10

CEE Investment portfolio

COMPETITIVE ADVANTAGE IN CEE

* Slovakia, Bulgaria, Slovenia, Croatia

0

100

200

300

400

500

600

Poland Hungary Romania Czech Republic

Serbia Croatia Bulgaria Slovakia Slovenia

Investment portfolio (fair value, EUR mn)

Total Office

25%

14%

16%

13%

32%

Core markets (FV)

Warsaw

Prague

Budapest

Bucharest

Other

30%

21%20%

16%

4%

9%


Poland

Hungary

Romania

Czech Republic

Serbia

Other*

31%

17%20%

16%

16%

Office portfolio (FV)

Warsaw

Prague

Budapest

Bucharest

Other

8,8%8,0% 7,8%

7,4% 7,0%

6,0%

7,6%

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%


Serbia Hungary Poland Other* Total

Gross initial yields by country

6,4%

11,1% 11,5%

14,8%

20,3%

29,9%

14,8%

0%

5%

10%

15%

20%

25%

30%

35%

Romania Serbia Czech Republic

Poland Hungary Other* Total

Vacancies by country

8,7%

7,8% 7,7%7,3% 7,0%

5,8%

7,4%

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

Romania Serbia Hungary Czech Republic

Poland Other** Total

Gross initial yields by country (office)

3,8%

11,1%

14,9%12,0% 10,8%

31,9%

12,7%

0%

5%

10%

15%

20%

25%

30%

35%

Romania Serbia Hungary Czech Republic

Poland Other** Total

Vacancies by country (office)

CEE Investment portfolio

** Slovakia, Bulgaria, Croatia * Slovakia, Bulgaria, Slovenia, Croatia

11

10,5%

7,6% 7,4%

0%

2%

4%

6%

8%

10%

12%

Retail Logistics Office

Gross initial yields by sector

12%

25%

13%

0%

5%

10%

15%

20%

25%

30%

Retail Logistics Office

Vacancy by sector

Major office investor in Warsaw with around 200,000 sqm of lettable space

Largest share in Warsaw CBD office sector

Robust and diversified tenant base (around 180 tenants)

Major tenants: Unicredit – Pekao SA, Societe General, Procter & Gamble, Accenture, Linklaters, Shell, Imperial Tobacco, BRE Bank (Commerzbank), Jones Lang Lasalle, Chartis, IBM, Bayer

12

CEE Poland

MARKET POSITION


Investment portfolio share: 16.6% (FV), 20.5% (sqm)


Occupancy: 85.2%

Gross initial yield: 7.0%

PORTFOLIO METRICS

85%

15%


Office

Logistics

40%

60%


Office

Logistics

Lipowy Office Park, Warsaw

Warsaw Towers, Warsaw Saski Crescent, Warsaw

Among top 3 office investors

On average, the office vacancy is half of the market level currently

All real estate management services in-house is key in challenging market environment

Major tenants: IBM, Novartis, HP

13

CEE Hungary

MARKET POSITION

PORTFOLIO METRICS




Occupancy: 79.7%

Gross initial yield: 7.4% 77%

20%

3%


Office

Logistics

Retail

51%43%

6%


Office

Logistics

Retail

Capital Square, Budapest Infopark, Budapest IP West, Budapest

Among top 3 office investors

River City project (Danube House, Nile House and Amazon Court) stands out in quality terms

Amazon Court is the only building with Gold DGNB certificate

Major tenants: Deloitte, Adastra, Equa Bank, Mondeléz, Expedia Services, ICZ, Wüstenrot. Net4Gas, Rockwell, Fiat, Good Data, BSH, Ahold, HOE, ebay, Procter and Gamble

14

CEE Czech Republic

MARKET POSITION

PORTFOLIO METRICS




Occupancy: 88.5%

Gross initial yield: 8% 75%

21%

4%


Office

Retail

Other

84%

13%

3%


Office

Retail

Other

Amazon Court/River City, Prague Kavci Hory, Prague Danube House/River City Prague

Among top 3 office owners in Bucharest

Representative office projects of medium size (15,000-48,000 sqm), distributed over key business districts in Bucharest

Market outperformance of both office and logistics segment

Major tenants: Orange, GlaxoSmithKline, Carrefour, British American Tobacco

15

CEE Romania

MARKET POSITION

PORTFOLIO METRICS




Occupancy: 93.6%


67%

31%

2%


Office

Logistics

Retail

32%

65%

3%


Office

Logistics

Retail

Riverplace, Bucharest Europehouse, Bucharest Bucharest Business Park

Non-core from a strategic point of view

Currently highest sectoral vacancy is expected to improve considerably in the short-term

Major tenants: Henkel, Nestle, GlaxoSmithKline, NCR, Fox Broadcasting, Johnson Controls

16

CEE Other countries

MARKET POSITION

PORTFOLIO METRICS




Occupancy: 76.6%


94%

6%

Other countries (FV)

Office

Hotel

87%

13%

Other countries (sqm)

Office

Hotel

17%

6%

34%

20%

23%

Other countries (FV)

Slovakia

Slovenia

Serbia

Bulgaria

Croatia

STRATEGY

A period of rapid growth follows a consolidation phase in order to achieve a higher profitability and sharper profile

2013: portfolio cut of more than EUR 1 bn major step towards portfolio realignment and achievement of debt level targets

The strategic acquisitions in recent years have shaped a scalable portfolio and competence platform

2014 onwards: Organic growth driven by development pipeline in Germany and optimisation of investment portfolio

18

Strategy Growth

GROWTH CONSOLIDATION GROWTH

Hesse – Portfolio (2006)

Market entry Germany Access to land reserves in German inner city locations

Deepened development expertise

Vivico (2008)

Critical size in major Eastern European capitals

Strengthened recurring cash flow

Europolis (2011)

Strong investment portfolio in 8 major Central European cities

Fully-integrated property player covering entire real estate value chain

CA IMMO 2014 +

0

1.000

2.000

3.000

4.000

5.000

6.000

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013e

Portfolio growth (fair value, EUR mn)

Austria Germany CEE

19

Strategy Performance model

Development

Attractive dividend yield

Dividend payout 2% of NAV

Solid dividend cover by recurring FFO

Driven by pipeline delivery and rental growth

Investment portfolio Capital recycling

Sustainable income

Focus on high-quality office

Dominant player in principle cities in

Central Europe

Active asset management opportunities

High development expertise

Creating core instead of buying it

Key driver of valuation uplift

Valuable source of earnings growth

Ongoing portfolio adaptation

Recycling capital into higher growth

opportunities

Deploy proceeds to fund pipeline

Cycle-optimised sales of mature assets

with limited upside

Earnings growth

NAV growth

Dividend growth

CA Immo

Core expertise: development, ownership and management of large and modern office properties in Central Europe

Fully integrated property player

Core strength 1: Development business in Germany

Core strength 2: Office property holdings in CEE (deep market knowledge, strong market position in core segment)

Core strength 3: Local asset management (closer ties to relevant market participants)

20

Strategy Strategy 2012-2015

CORE EXPERTISE AND CORE STRENGTHS

KEY TARGET ROE INCREASE

Increased portfolio focus to enhance efficiency and fully capitalise on core competence

Further institutionalize development business as major organic growth source

Restructure and optimise debt profile

Achieve higher earnings quality rising recurring income portion of FFO

ROE Portfolio focus

Development

Financing

Property development Investment

portfolio

Capital recycling

1

3

2

21

Strategy Strategy 2012-2015

Strategic asset sales

Portfolio focus

Development

Financing

Optimisation and sale of non-strategic assets

Focus on office in core locations

Streamlining development activities

Monetising land reserves

Recurring cash flow driver

Optimization of financing structure

Reducing cost of funding

Closing of 2013 property transactions

2

1

Higher recurring profitability

Lower earnings volatility

Higher dividend capacity

Stronger equity base

Lower company risk

Strategic agenda

3 core regions

6 core countries

Property assets of at least EUR 300 mn per core location in order to run local platform efficiently

Austria: Vienna

Germany: Munich, Frankfurt, Berlin

CEE: Warsaw, Prague, Budapest, Bucharest

22

Strategy Core markets

CORE REGIONS AND LOCATIONS

Small amount of non-strategic assets in non-core markets

Running disposal program for small-scale properties with a fair value of less than EUR 10 mn (in total approx. EUR 145 mn)

New hotel developments such as InterCity Berlin are kept over a certain stabilisation period to optimise sales process

Sale of CEE logistics assets has priority from an operational point of view over the sale of office assets in non-core locations

23

Strategy Non-strategic assets

NON-CORE ASSETS

24 29

70

281

41

60

0

50

100

150

200

250

300

Logistics Hotel Retail

Non-core by sector (fair value, EUR mn)

Austria Germany CEE

53 70

383

0

50

100

150

200

250

300

350

400

450

Austria Germany CEE

Non-core by region (fair value, EUR mn)

55

38

1720

14

0

10

20

30

40

50

60

Austria Germany Romania Czech Republic Other*

Properties < EUR 10 mn (fair value, EUR mn)

* Hungary, Bulgaria

FINANCIALS

FY 2013 property sales volume up to EUR 1.5 bn should generate free equity of approx. EUR 450 mn

The majority of the generated free cash should be deployed within 1Q 2014 to mitigate a negative short-term impact on earnings

The use of proceeds is earmarked to boost the recurring FFO capacity

25

Financials Use of trading proceeds on liabilities side

STRATEGIC CONSIDERATIONS

Priority 1

Impact

Repayment of holding level debt Title

2013 property disposals

Free equity

ca. EUR 1.5 bn

ca. EUR 450 mn

Priority 2

Selective repayments of project financings

Priority 3

Buy-out of minority partners in CEE

Redemption of most expensive debt lower cost of funding

Improvement of debt maturity profile lower risk

Achievement of debt level targets stronger position to advance monetisation of development assets

NAV-accretive investment with lower risk

Positive impact on recurring cash flow stream and better earnings transparency

Improving operational efficiency at lower complexity level

ROE investment portfolio: 5% (rental business)

ROE total portfolio: > 7% (incl. development and trading business)

Dividend: 2% of NAV

Dividend cover: > 1.5x recurring FFO

Achievement after full implementation of “Strategy 2012-2015”

26

Financials Profitability targets

TARGETS FY 2015+

Cutting indirect expenses

Reducing leverage and lowering cost of debt

1 2 3

Streamlining property portfolio

Increasing occupancy

Measures

Monetising land bank

Recurring development business

ROE > 7%

Investment portfolio

5%

Trading + Development

> 2%

Reducing leverage and lowering average cost of debt

Driving rental growth by development inclusions

Cutting indirect expenses

Increasing portfolio occupancy 27

Financials Funds from operations (FFO) driver

FFO 1 DRIVER

FFO 1

Rental income

Development Financing expenses

Indirect expenses

FFO 2

FFO 2 DRIVER

Trading income

Realising cycle-optimised sales of mature assets

Disposing of German land reserves that do not qualify for own developments

Selling developments that do not fit investment portfolio criteria

Equity ratio: 40 - 45%

Net loan-to-value: 45 - 50%

Net interest coverage: > 2x

Maintaining stable balance sheet ratios as safety cushion in volatile markets and backbone to drive growth by developments

28

Financials Debt level targets

BALANCE SHEET TARGETS FY 2014+

* excluding restricted cash

ca. 40%

0

1.000

2.000

3.000

4.000

5.000

6.000

0%

10%

20%

30%

40%

50%

60%

70%

2006 2007 2008 2009 2010 2011 2012 2013e

Equity ratio

Total property assets Equity ratio

1,7

0,0

0,2

0,4

0,6

0,8

1,0

1,2

1,4

1,6

1,8

0

50

100

150

200

250

300

2007 2008 2009 2010 2011 2012 1-3 Q 2013

Net interest coverage

FFO pre interest and tax FFO net interest coverage

ca. 50%

0

1.000

2.000

3.000

4.000

5.000

6.000

0%

10%

20%

30%

40%

50%

60%

70%

2006 2007 2008 2009 2010 2011 2012 2013e

Total property assets Net LTV*

Net LTV

Lower share of unsecured debt on holding level in order to further improve risk profile

Focus on project financing (non-recourse) across core markets

Target range hedging ratio 60-70% (including fixed-rate instruments)

Cost of Debt: currently ca. 4.2% target: ca. 3.8% following debt repayments

29

Financials Debt structure

TARGETS FY 2014+

41%

57%71%

40%

64%57%

48%55%

33%

58%

0%

10%

20%

30%

40%

50%

60%

70%

80%

Austria Germany Czech Republic

Hungary Poland Romania Other Investment portfolio

Development Group

Loan-to-value ratios (current)

19%

81%

Debt split (current)

Unsecured debt

Secured debt

65%

35%

Interest rate split (current)

Fixed + hedged

Floating

Debt repayments following property disposals will have a strongly positive impact on maturity profile as mainly liabilities due within the next two years will be addressed

CEE debt maturities scattered across countries and properties

30

Financials Financing

FINANCING

* *excluding unsecured debt

34%

24%

11%

5%

4%

2%

20%

Financing institutions*

UniCredit

ÖVAG

Helaba

DG Hyp

BVK

EBRD

Other

100 8128 35

124

6034 88

152

245283

214 34

172

115

150

186

0

100

200

300

400

500

600

700

800

2014 2015 2016 2017 2018+

Maturity profile (EUR mn)

Austria Germany CEE Convertible bonds Bonds

Strike Price: EUR 10.7 reduction to c. EUR 10.3 after next dividend NAV dilution c. 5%

Coupon: 6.125%

In addition to bond repayments, proceeds of sales in Germany mainly to be used to reduce CEE-related debt

As a result, the relative weight of CEE will increase

Within Germany, developments will constitute a larger share – this, however to decrease again as completed buildings are added to the portfolio and the landbank will be reduced further

Current market cap does not even remotely reflect the actual capital at risk

31

Financials Equity allocation

STRATEGIC CAPITAL ALLOCATION

Land in Zoning Process

AS

OF

Q3

20

13

EX

PEC

TED

Germany

EUR 1,200 mn

(55%)

CEE

EUR 560m

(25%)

Thereof:

Income-producing: 65%

Development: 35%

Austria

EUR 450 mn

(20%)

Thereof:


Development: 10%

Germany

EUR 800 mn

(40%)

CEE

EUR 880m

(40%)

Thereof:


Development: 60%

Austria

EUR 450 mn

(20%)

Thereof:


Development: 5%

Equity

EUR 1,770 mn (excl. minorities)

Bonds

EUR 460 mn

Corporate capital EUR 2,230 mn

Majority of equity tied up in liquid German market

Use of free equity from property sales should trigger a recapitalisation of the investment portfolio

Equity invested in development should sum up to around 15% of total group equity going forward

32

Financials Equity allocation

STRATEGIC CAPITAL ALLOCATION

0

500

1.000

1.500

2.000

2.500

Austria Germany CEE Total equity Market cap*

Equity allocation by segment and region (EUR mn)

Income-producing properties Development properties

21%

54%

25%

Equity allocation by region

Austria

Germany

CEE

* as at January 13, 2014

78%

22%

Equity allocation by segment

Income-producing properties

Development properties

0

500

1.000

1.500

2.000

2.500

Income-producing properties

Development properties

Total equity Market cap*

Equity allocation by segment (EUR mn)

DEVELOPMENT

High development expertise after integration of Vivico

Strong development track record has further facilitated access to high-quality tenants

Land reserves in German metropolitans with significant embedded value

Better balanced and steady cash flow model going forward

34

Development Strategy

DEVELOPMENT MODEL

Text Activities will be concentrated on fundamentally strong German market

Development focus on core offices which fit the investment portfolio (individual project volumes EUR 50 – 150 mn)

Annual development capex of EUR 150-200 mn

Around 15% of group equity as indication for future development business size

STRATEGIC APPROACH

Expertise

Text

Text

Text

1

2

3

4

CA Immo

Access to tenants Access to land reserves

Reaping cash flows

0%

5%

10%

15%

20%

25%

30%

0

200

400

600

800

1.000

1.200

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013e

Development assets (fair value, EUR mn)

Austria Germany CEE development assets as % of total property assets

Successful delivery of large-scale projects with high complexity over many years has positioned CA Immo as a top-tier developer in Germany

Capturing value across their entire development process

Effective capital deployment

Sound financial position to further institutionalise development as key driver for growth

35

Development Major player in Germany

STRONG TRACK RECORD OF VALUE CREATION

Development exposure largely concentrated on German cities Frankfurt, Munich and Berlin

Development focus on German market given favourable market conditions and strong market position of CA Immo

36

Development Total development assets

KEY FACTS

0

50

100

150

200

250

300

350

400

450

500

Austria Germany Poland Hungary Romania Czech Republic

Other*

Total development assets (fair value, EUR mn)

Zoning Landbank Projects under construction

84%

16%

Total development assets (FV)

Germany

CEE 0

50

100

150

200

250

Berlin Frankfurt Munich Other

Total development assets Germany (fair value, EUR mn)

Zoning Landbank Projects* Hungary, Slovakia, Serbia, Ukraine, Switzerland

Mixed use urban district development

Plot size 18 hectares

Total gross floor area around 690,000 sqm

Tower 185: two-thirds of largest development project successfully sold

Skyline Plaza: opened in August 2013

37

Development Europaviertel Frankfurt

KEY FACTS

1

2

3

4

5

6

1 Tower 185

2 Skyline Plaza (developed and sold)

3 Nord 1 (sold)

4 Landplot (sold)

5 Meininger Hotel

6 Residential projects (sold)

38

Development Europacity, Berlin

1

3

2

4

5

6

1 John F. Kennedy – Haus (under construction)

2 InterCity Hotel (completed)

3 Steigenberger Hotel (plot sold)

4 Office project (plot sold)

5 Meininger Hotel (completed)

6 Cube (in planning stage)

39

Development Europacity, Berlin

1

3

2

4

5

6

1 John F. Kennedy – Haus (under constr.)

2 InterCity Hotel (completed)

2 Steigenberger Hotel (plot sold)

3 Office project (plot sold)

4 Meininger Hotel (completed)

6 Cube (in planning stage)

7 Tour Total (completed)

8 Monnet 4 (in planning stage)

9 Stadthafen (in planning stage)

7

8

9

Mixed use urban district development with more than 600,000 sqm of surface area

40 hectares close to the government quarter

CA Immo one of the main landowners (ca. 20 ha) among with Deutsche Bahn (ca. 10 ha) and Land Berlin (ca. 10 ha)

Usage type office

Lettable area ca. 22,000 sqm

8 floors

Investment volume approx. EUR 70 mn

Green building

Planned completion in 1H 2015

Pre-letting ratio approx. 42%

40

Development John F. Kennedy – Haus, Berlin

KEY FACTS

Anchor tenant signed in November 2013 (approx. 47% of lettable space)

Start of construction in 1Q 2014

Planned completion in 1H 2015

Total investment volume approx. EUR 29 mn

41

Development Monnet 4, Berlin

KEY FACTS

Usage type office

Lettable area approx. 10,000 sqm


Pre-letting ratio > 70%

Planned completion 1H 2014

42

Development Belmundo + Lavista, Düsseldorf

KEY FACTS BELMUNDO

Usage type office

Lettable area 4,100 sqm


Planned completion 1H 2014

KEY FACTS LAVISTA

Usage type office

50:50 JV with Ellwanger Geiger

Surface area of ca. 25,000 sqm

Investment volume approx. EUR 90 mn (for 100%)

43

Development Kontorhaus, Munich

Green building

Planned completion mid 2015

Pre-letting ratio around 56%

KEY FACTS

LAND RESERVES

81%

19%

Total landbank (FV)

Germany

CEE

Majority of land reserves located in Germany

Competitive advantage in current market environment

Substantial progress on further zoning until end of 2014

45

Development Landbank

KEY FACTS

* Hungary, Slovakia, Serbia, Switzerland

0

50

100

150

200

250

300

350

400

Austria Germany Poland Romania Czech Republic

Other*

Total landbank (fair value, EUR mn)

In Zoning Landbank

80%

4%

8%

2%6%

Total landbank (FV)

Germany

Poland

Romania

Czech Republic

Other*

63%7%

3%

4%

6%

17%

Total landbank - type of use (FV)

Office

Logistics

Retail

Hotel

Residential

Other**

** not defined yet

High-rise office property plots in Frankfurt

Berlin and Munich land bank highly sought-after

Zoning processes in Berlin and Munich are progressing

Other land reserves comprise the Zollhafen Mainz project and the Marina City Regensburg

46

Development Landbank Germany

GERMANY LAND RESERVES

0

20

40

60

80

100

120

140

160

Berlin Frankfurt Munich Other

Landbank Germany (fair value, EUR mn)

Landbank Zoning

30%

42%

24%

4%

Landbank Germany (FV)

Berlin

Frankfurt

Munich

Other

66%5%

8%

21%

Landbank Germany - type of use

Office

Hotel

Residential

Other

CEE land reserves with a fair value of approx. EUR 85 mn account for ca. 19% of total landbank

Selective developments as soon as CEE markets show broader recovery

47

Development Landbank CEE

CEE LAND RESERVES

0

5

10

15

20

25

30

35

40

Poland Hungary Czech Republic

Slovakia Serbia Romania Ukraine

Landbank CEE (fair value, EUR mn)

Landbank Zoning

42%

4%20%

34%

Landbank CEE (FV)

Poland

Hungary

Czech Republic

Slovakia

47%

36%

13%

4%

Landbank CEE - type of use (FV)

Office

Logistics

Retail

Other

48

Contact details

Christoph Thurnberger Claudia Hainz

Head of Capital Markets Investor Relations / Capital Markets

Tel.: +43 (1) 532 59 07 504 Tel.: +43 (1) 532 59 07 502

E-Mail: [email protected] E-Mail: [email protected]

www.caimmo.com/investor_relations/

DISCLAIMER This presentation handout serves marketing purposes in Austria and constitutes neither an offer to sell, nor a solicitation to buy any securities, nor investment advice nor financial analysis. Any public offer of securities of CA Immobilien Anlagen AG may be made solely by means and on the basis of a prospectus prepared and published in accordance with the provisions of the Austrian Capital Markets Act and approved by the Austrian Financial Market Authority. If a public offer is undertaken in Austria, a prospectus will be published copies of which will be available free of charge at the business address of the Issuer, Mechelgasse 1, 1030 Wien, during regular business hours and on the website the Issuer www.caimmo.com. Any public offer will be undertaken solely by means and on the basis of a prospectus prepared and published in accordance with the provisions of the Austrian Capital Markets Act and approved by the Austrian Financial Market Authority. This presentation handout contains forward-looking statements and information. Such statements are based on the Issuer's current expectations and certain presumptions and are therefore subject to certain risks and uncertainties. A variety of factors, many of which are beyond the Issuer's control, affect its operations, performance, business strategy and results and could cause the actual results, performance or achievements of the Issuer to be materially different. Should one or more of these risks or uncertainties materialise or should underlying assumptions prove incorrect, actual results may vary materially, either positively or negatively, from those described in the relevant forward-looking statement as expected, anticipated, intended planned, believed, projected or estimated. The Issuer does not intend or assume any obligation to update or revise these forward-looking statements in light of developments which differ from those anticipated. This presentation handout is not for distribution in or into the United States of America and must not be distributed to U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended ("Securities Act")) or publications with a general circulation in the United States. This presentation handout does not constitute an offer or invitation to purchase any securities in the United States. The securities of the Issuer have not been registered under the Securities Act and may not be offered, sold or delivered within the United States or to U.S. persons absent from registration under or an applicable exemption from the registration requirements of the United States securities laws. There will be no public offer of securities of the Issuer in the United States. This presentation handout is directed only at persons (i) who are outside the United Kingdom or (ii) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (iii) who fall within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Order (all such persons together being referred to as "Relevant Persons"). Any person who is not a Relevant Person must not act or rely on this communication or any of its contents. Any investment or investment activity to which this presentation handout relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. This handout is not intended for publication in the United States of America, Canada, Australia or Japan.

http://www.caimmo.com/

COMPANY PRESENTATION¤sentationen/2014… · CEE Investment portfolio COMPETITIVE ADVANTAGE IN CEE...

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