Luxembourg Roadsho€¦ · CEE EUR 598.2m book value 5.4% vacancy rate 8.3% rental yield BERLIN...

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Luxembourg Roadshow 08 - 09 November 2017 Andreas J. Feuerstein

Transcript of Luxembourg Roadsho€¦ · CEE EUR 598.2m book value 5.4% vacancy rate 8.3% rental yield BERLIN...

Page 1: Luxembourg Roadsho€¦ · CEE EUR 598.2m book value 5.4% vacancy rate 8.3% rental yield BERLIN VIENNA Germany EUR 724.3m book value 5.6% vacancy rate 4.9% rental yield Austria EUR

Luxembourg Roadshow

08 - 09 November 2017

Andreas J. Feuerstein

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2 Leveragingpotential

1 Purchase

3 Sale

S IMMO

Our process to value creation

• Niche property

sizes

• Opportunistic

buying

• Strong track

record in

development

• Country specific

expertise

• We don‘t collect properties

• Value in developing not holding properties

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Sample projects

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• Appartement buildings for EUR 600 to

1,000/m²

• 2009 - 2012: revitalisation programme

• Since 2012: significant increases in value

and rents

• 2016: realising profits for 30% of the

portfolio

Hidden treasures: Berlin 2006 - 2007

Purchase

Sold residential building, Berlin

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• 2013: roughly 12,000 m² purchased for

about EUR 6.6m

• Property almost empty, good location and

substance

• 2014 - 2016: Investments of about

EUR 3.4m

• Defining new target group, redesigning

interior space

• Step-by-step letting with increasing rents

• 2017: fully let

• Sold for EUR 22m, EUR 16m above

acquisition costs

Opportunistic purchase & quick turnaround

Purchase

Sonnenallee, Berlin

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• 2010: Purchase of the properties Hoch

Zwei and Plus Zwei at current market

value

• 7 years of stable cashflow through rental

income

• 2017: sold for EUR 75m above acquisition

costs

• Realising profits is a main part of our

cycle-oriented strategy

Examples in Vienna

Cyle-oriented transactions

Hoch Zwei, Vienna

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Our processes create value –

from investment, to property

improvement and disposal.

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Rental yield

Occupancy rate

m² space

Attractive propertyportfolio 1.1m

6.2%

93.9%

IFRS property portfolio value

EUR 1,750,000,000

Commercial properties

25.9%Residential properties

74.1%

Simulation as of 01 September 2017 based on the figures as of 30 June 2017 including effects of the sales of the Serdika and Viertel Zwei properties

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Portfolio overview – focus on European capitals*

ZAGREB

BUDAPEST

PRAGUE

BRATISLAVA

BUCHAREST

CEE

EUR 598.2m book value

5.4% vacancy rate

8.3% rental yield

BERLIN

VIENNA

Germany

EUR 724.3m book value

5.6% vacancy rate

4.9% rental yield

Austria

EUR 426.9m book value

8.7% vacancy rate

5.2% rental yield

34%

* Simulation as of 01 September 2017 based on the figures as of 30 June 2017 including effects of the sales of the Serdika and Viertel Zwei properties

66%

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With equity of EUR 824m generated in 6 months:

Consolidated income statement (in EUR m) 01-06/2017 01-06/2016

Revenues 97.5 95.3

Thereof Rental income 58.5 58.5

Gross profit 52.4 50.5

Management expenses -8.6 -8.3

EBITDA 43.8 43.0

Depreciation and amortisation -4.3 -4.0

Results from property valuation 69.3 106.9

Operating result (EBIT) 108.9 145.9

Financial result -19.0 -35.3

Net income before tax (EBT) 87.2 107.3

Taxes on income -14.9 -21.7

Consolidated net income for the period 72.4 85.5

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Our approach is paying off

30 June 2017 30 June 2016

FFO I per share EUR 0.40 EUR 0.29

EPRA NAV per

shareEUR 15.82 EUR 12.99

EPS EUR 1.03 EUR 1.27

For the first six months of 2017:

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Financing*

Loan-to-value ratio

Prudent debt

management

• Cost of funding: 2.83%

• Average interest rate for long-term loans: 1.85%

• Average weighted final maturity of derivatives: 7.7 years

about 48%

* Simulation as of 01 September 2017 based on the figures as of 30 June 2017 including effects of the sales of theSerdika and Viertel Zwei properties

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We create value – through

project development

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What we are working on

Germany

• 13 projects with an investmentvolume of EUR 245m

Austria

• 3 projects with an investmentvolume of about EUR 214m

CEE

• 6 projects with an investmentvolume of EUR 187m

The Mark, Bucharest

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101 Neukölln, Berlin

Einsteinova, Bratislava

Siebenbrunnengasse, Vienna

QBC, Vienna

The Mark, Bucharest

Our highlights

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101 Neukölln, BerlinYou‘ll need some phantasy

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• 22,000 m² retail and office space

• Best central location in Neukölln

• Radical restructuring and redesigning

planned

101 Neukölln, BerlinThe way it will be

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QBC, Vienna

Highly modern office space

• Realisation of up to 52,000 m²

• S IMMO as investor with a stake of 35%

(building sections 1, 2, 3)

• Excellent location: next to Vienna's

Central Station, new CBD with several

group headquarters

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Einsteinova, Bratislava

Modern and sustainable office project

• Approx. 23,500 m²

• S IMMO‘s stake of 51%

• Planned completion in Q1 2018

• 85% pre-let

• Renowned tenants like Uniqa

• BREEAM certificate „Excellent“ planned

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Our trend is consistent

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NAV has continued to increase

Value potential: S IMMO share still lists below EPRA NAV

EPRA = European Public Real Estate Association

8.709.35 9.76

10.6311.75

14.62

15.82

2011 2012 2013 2014 2015 2016 HY 2017

EPRA NAV per share

In EUR

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Sustainable dividend growth

0.100.15

0.200.24

0.30

0.40

0.29

0.360.41

0.46

1.17

2.98

2011 2012 2013 2014 2015 2016

Dividend Earnings per share

In EUR

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• Longstanding relationships with agents

• Embedded teams in local markets

• Proven and standardized screening

process

• Quick decisions due to experienced

management

• Fast purchase via initial equity financing

Promising acquisitions

Leuchtenfabrik, Berlin

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• Implement: exciting projects

• Purchase: properties with a

sustainable yield

• Invest: also in companies with value

potential

• Distribute: sustainable dividend policy

We look ahead

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Thank youfor your attention!

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Appendix

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APPENDIX

Financial calendar 2017

2

7

Jan DecFeb Mar May June July Aug Sept Oct NovApr

13 June 2017

Dividend ex

day

14 June 2017

Record date

dividend

29 August 2017

Results for the

first half year 2017

05 April 2017

Annual results

201608 June 2017

Annual General

Meeting

16 June 2017

Dividend

payment day

28 November 2017

Results for the first

three quarters 2017

29 May 2017

Record date

Annual General

Meeting

30 May 2017

Results for the

first quarter

2017

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We offer the following services on our website www.simmoag.at/en:

Newsletter subscription/RSS feeds/e-Mail services

APPENDIX

Services

Follow us on Twitter:

http://twitter.com/simmoag

View our videos on YouTube:

http://www.youtube.com/simmoag1

Our network on Xing:

https://www.xing.com/companies/simmo

View our profile on Linkedin:

http://www.linkedin.com/company/2279913

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These materials have been prepared by S IMMO AG (the "Company") solely for informational purposes, is intended for your use only and does not

constitute an offer or commitment, a solicitation of an offer or commitment, or any advice or recommendation to enter into or conclude and

transaction.

These materials contain forward-looking statements based on the currently held beliefs and assumptions of the management of the Company,

which are determined and expressed in good faith and, in their opinion, reasonable. The assumptions and parameters used are not the only ones

that might reasonably have been selected and therefore no guarantee is given as to the accuracy, completeness or reasonableness of any such

information, disclosure or analysis. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may

cause the actual results, financial condition, performance, or achievements of the Company, or results of the real estate industry generally, to differ

materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given

these risks, uncertainties and other factors, recipients of this document are cautioned not to place undue reliance on these forward-looking

statements. This material does not purport to contain all the information that an interested party may desire. In any event, each person receiving

these materials should make an independent assessment of the merits of pursuing a transaction. The Company disclaims any obligation

to update these forward-looking statements to reflect future events or developments options and estimates may be changed without notice.

The materials contained in this presentation have not been subject to independent verification. No representation, warranty or undertaking,

expressed or implied, is made as to, and no reliance should be placed on, the fairness,

accuracy, completeness or correctness of the information or opinions contained herein. None of the Company,

its affiliates or its advisors, nor any representatives of such persons, shall have any liability whatsoever

(in negligence or otherwise) for any loss arising from any use of this document or its contents or otherwise arising

in connection with this document.

APPENDIX

Disclaimer

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