Aroundtown Sa · XETR:AT1
Aroundtown Sa — Aroundtown Sa Ord — Q1 2025 Earnings Presentation
77 slides from Aroundtown Sa's earnings presentation, May 27, 2025
Slide 1: Q1 2025 Financial Results
Q1 2025 FINANCIAL RESULTS MAY 2025 AMSTERDAM AMSTERDAM AROUNDTOWN SA
Slide 2: Table of Contents
MEUSE (NETHERLANDS, CENTER PARCS) TABLE OF CONTENTS HIGHLIGHTS HIGHLIGHTS OPERATIONS AND PORTFOLIO OPERATIONS AND PORTFOLIO FINANCIAL RESULTS FINANCIAL RESULTS BALANCE SHEET CAPITAL STRUCTURE BALANCE SHEET & CAPITAL STRUCTURE GUIDANCE GUIDANCE APPENDIX APPENDIX Portfolio Capital Markets − Portfolio
Slide 3: Highlights
Hamburger Menu Icon with solid fill HIGHLIGHTS I TOP TIER LOCATIONS BERLIN FRANKFURT COLOGNE AROUNDTOWN SA 3
Slide 4: Q1 2025 Financial Highlights
Q1 2025 FINANCIAL HIGHLIGHTS OPERATIONAL RESULTS CONSERVATIVE DEBT PROFILE & FINANCIAL DISCIPLINE o NET RENTAL INCOME / RENT LIKE-FOR-LIKE o ADJUSTED EBITDA o LIQUIDITY o REPAYMENTS o LATEST BOND ISSUANCE €295m 3.0% €251m €3.4bn €1.3bn €750m €650m of which ca. €600m through tender offers 3.5% coupon
Slide 5: LFL Rental Growth
SOLID OPERATIONAL GROWTH DRIVEN BY DIVERSE DRIVERS ACROSS EACH ASSET CLASS LFL RENTAL GROWTH 3.0% 4.5% 3.7% 1.6% Residential Hotel Office Mar 2025 YOY RESIDENTIAL & HOTEL 56% OFFICE 38% by value by value Residential: • Benefiting from structural supply-demand gap in portfolio locations Office: • Ste
Slide 6: €149m Closed During Q1 2025
CONTINUOUS DISPOSAL PROGRESS Resi 80% €149m CLOSED Bremen 32% Frankfurt 25% o18x DURING Q1 2025 Average rent around book value multiple Non-Core 24% Office 12% ~€140 MILLION SIGNED o STRENGTHENING THE BALANCE o ca. €10bn was signed for disposal since 2025 YTD SHEET SUPPORTING DELEVERAGING the beginn
Slide 7: Successful Liability Management
SUCCESSFUL ISSUANCE & PROACTIVE DEBT MANAGEMENT SUCCESSFUL LIABILITY MANAGEMENT EXTENDING DEBT MATURITY AT ATTRACTIVE TERMS ❑ Successful issuance of €750 million 5-year senior unsecured bond, attracting strong investor demand with book 3x oversubscribed during the day. New bond carries a coupon of 3
Slide 8: Operations & Portfolio
Hamburger Menu Icon with solid fill OPERATIONS & PORTFOLIO I TOP TIER LOCATIONS COLOGNE DAVOS DAVOS STUTTGART AMSTERDAM AROUNDTOWN SA 8
Slide 9: 94% Office/Residential/Hotel, 88% in Germany, The NL & London
HIGH DIVERSIFICATION, BALANCED ACROSS STRONG ASSET TYPES IN STRONG LOCATIONS 94% OFFICE/RESIDENTIAL/HOTEL, 88% IN GERMANY, THE NL & LONDON, well-balanced with strong diversification among asset types with diverse fundamentals well-diversified across top tier cities with a focus on central locations
Slide 10: Defensive Portfolio With Strong Tenant Structure
DEFENSIVE PORTFOLIO WITH STRONG TENANT STRUCTURE MAR 2025 Investment Lettable area Annualized EPRA Vacancy In-place rent/sqm (€) Value/sqm (€) Rental Yield WALT (years) Portfolio by asset type property (€m) (k sqm) net rent (€m) Office 8,328 2,982 12.6% 432 13.3 2,793 5.2% 4.2 Residential 7,907 3,50
Slide 11: Office Portfolio Performance and Market Tailwinds
OFFICE PORTFOLIO OFFICE 38% 1.6% LFL Rental growth Mar 2025 YOY PERFORMANCE Driven by indexation and rent reversion 65% Green Certified Top 4 cities: 60% Berlin, Frankfurt, Munich and Amsterdam Office take-up grew 15% YoY in Big 7 in Q1 20251) MARKET Steady Office take-up growth of 8% expected for 2
Slide 12: Reform of Germany’s Debt Brake Positive for Economic Growth
REFORM OF GERMANY’S DEBT BRAKE POSITIVE FOR ECONOMIC GROWTH GERMANY’S INVESTMENT OF €500 BILLION WILL SUPPORT ECONOMIC GROWTH ❑ Planned fiscal expansion could increase GDP growth by 2% per year over the next 10 years1) ❑ Underinvestment in public infrastructure has been one of the main structural dr
Slide 13: Capturing Additional Operational Upside
CONVERTING SELECT OFFICE PROPERTIES INTO ATTRACTIVELY LOCATED SERVICED APARTMENTS CAPTURING ADDITIONAL OPERATIONAL UPSIDE FROM OFFICE CONVERSIONS TO FUEL MID-TERM GROWTH Expected Handover City No. of Rooms Permit Status Date Market Opportunity: ❑ Capturing the increasing demand for other uses such a
Slide 14: Residential Portfolio Performance and Market Tailwinds
RESIDENTIAL PORTFOLIO RESI 34% 4.5% LFL Rental growth Mar 2025 YOY PERFORMANCE Low vacancy of 3.5% as of Mar 2025 Focus on large metropolitans Across densely populated Declining supply vs increasing demand areas in Germany and London MARKET Number of approved apartments fell to 215,900, the lowest l
Slide 15: Hotel Portfolio Positive Momentum and Outlook
HOTEL PORTFOLIO HOTEL 22% 3.7% LFL Rental growth Mar 2025 YOY Well-diversified RevPAR growth is expected to remain at moderate but across large European tourism POSITIVE healthy levels1) and business destinations MOMENTUM Steady growth in international arrivals and overnight AND Over 150 hotels stay
Slide 16: Financial Results
Hamburger Menu Icon with solid fill FINANCIAL RESULTS I TOP TIER LOCATIONS DRESDEN FRANKFURT BERLIN AROUNDTOWN SA 16
Slide 17: Profit and Loss
PROFIT AND LOSS 1-3/2025 1-3/2024 in € millions NET RENTAL INCOME 295.0 293.1 LFL Net rental income growth Operating and other income 82.8 92.9 REVENUE 377.8 386.0 +3.0% Total LFL Net rental PROPERTY REVALUATIONS AND CAPITAL GAINS 203.5 2.4 income growth Mar 2025 Share of profit from investment in e
Slide 18: Adjusted EBITDA, FFO I & FFO II
ADJUSTED EBITDA, FFO I & FFO II 1-3/2025 1-3/2024 in € millions Adjusted EBITDA before JV contribution (in €m) Operating profit 449.8 238.8 Total depreciation and amortization 2.8 3.1 +1% EBITDA 452.6 241.9 234 236 Property revaluations and capital gains (203.5) (2.4) Share of profit from investment
Slide 19: Balance Sheet & Capital Structure
Hamburger Menu Icon with solid fill BALANCE SHEET & CAPITAL STRUCTURE I TOP TIER LOCATIONS LEIPZIG BERLIN ROTTERDAM AROUNDTOWN SA 19
Slide 20: EPRA NAV KPI’s
EPRA NAV KPI’S EPRA NAV KPI’s (in €m) & EPRA NAV per share KPI’s (in €) Mar 2025 Dec 2024 EPRA NRV (/ps) EPRA NTA (/ps) in € millions unless otherwise indicated EPRA NTA +2% EQUITY ATTRIBUTABLE TO THE OWNERS OF THE COMPANY 7,815.3 7,630.2 10,260 +2% 10,032 8,165 8,366 Deferred tax liabilities 1,632.
Slide 21: Conservative Capital Structure
CONSERVATIVE CAPITAL STRUCTURE LOW LEVERAGE (LTV) FINANCING SOURCES MIX UNENCUMBERED INVESTMENT PROPERTIES Company BOD guidance of 45% Straight bonds 42% 41% €16.9bn €17.0bn HEALTHY 41% 39% €11.5bn €12.0bn BALANCE Loans & borrowings 9% SHEET 8% €2.5bn €2.5bn Equity 51% 52% €15.0bn €15.3bn 71% 71% of
Slide 22: Well Distributed Debt Maturity Profile
WELL DISTRIBUTED DEBT MATURITY PROFILE DEBT MATURITY PROFILE – excluding perpetual notes 2,500 Straight bond New Bond Issuance Bank debt 2,000 Bond buybacks & Redemptions after March € Millions 1,500 1,000 500 0 Bank debt and €0.81bn €2.13bn €2.0bn €3.07bn €2.39bn €1.59bn €0.44bn €0.82bn €0.35bn €0.
Slide 23: Guidance
Hamburger Menu Icon with solid fill GUIDANCE I TOP TIER LOCATIONS BERLIN DÜ̈SSELDORF MAINZ AROUNDTOWN SA 23
Slide 24: 2025 Guidance Confirmed
2025 GUIDANCE CONFIRMED FY 2025 GUIDANCE FFO I €280 million – €310 million FFO I per share €0.26 – €0.28 POSITIVE DRIVERS NEGATIVE DRIVERS o Conservative rent increase o Full year impact of 2024 and 2025 disposals o Impact of hotel repositioning efforts o Higher perpetual coupon payments compared to
Slide 25: Appendix
Hamburger Menu Icon with solid fill APPENDIX I TOP TIER LOCATIONS EINDHOVEN/BRABANT (NETHERLANDS, CENTER PARCS) HAMBURG BERLIN AROUNDTOWN SA 25
Slide 26: Share Information
SHARE INFORMATION THE SHARE SHAREHOLDER STRUCTURE Frankfurt Stock Exchange Shares Placement held in (Prime Standard) treasury 1) 29% Free float Incorporation Luxembourg 46% Avisco Group/ Vergepoint 2) 15% 13.07.2015 First equity issuance Stumpf Capital (€3.2 per share) GmbH 3) 10% 1) 12% are held th
Slide 27: Investment Properties
INVESTMENT PROPERTIES MAR 2025 Investment Lettable area Annualized EPRA Vacancy In-place rent/sqm (€) Value/sqm (€) Rental Yield WALT (years) Portfolio by asset type property (€m) (k sqm) net rent (€m) Office 8,328 2,982 12.6% 432 13.3 2,793 5.2% 4.2 Residential 7,907 3,506 3.5% 386 9.4 2,255 4.9% N
Slide 28: Best-in-Class Berlin Portfolio
BEST-IN-CLASS BERLIN PORTFOLIO Located in the best 85% TOP TIER neighborhoods of BERLIN 85% of the Group portfolio is located in top Strongly benefiting from the unique tier neighborhoods: dynamics & growth of Berlin’s most in Charlottenburg, Wilmersdorf, Mitte, demand neighborhoods, business areas
Slide 29: Office Portfolio
OFFICE PORTFOLIO – WELL-LOCATED IN TOP TIER CITIES OF GERMANY AND THE NETHERLANDS WELL-DIVERSIFIED OFFICE: 38% OF THE PORTFOLIO, with focus on top tier cities o No dependency on a single location, single tenant, single asset or single industry. Long lease structure with 4.2y WALT LARGEST LANDLORD o
Slide 30: Residential Portfolio
RESIDENTIAL PORTFOLIO GCP IS CONSOLIDATED AND THE CURRENT HOLDING RATE IS 62% RESIDENTIAL (GCP): 34% OF THE PORTFOLIO o Residential asset class is the Group’s second largest asset type after offices, providing the Group with a well-balanced portfolio breakdown. STABLE CASH FLOWS o German residential
Slide 31: Hotel Portfolio
HOTEL PORTFOLIO WELL-DIVERSIFIED HOTEL: 22% OF THE PORTFOLIO OVER 150 HOTELS: Mainly in top tier European cities o Across Europe with a focus on locations with large catchment areas 14 YEARS WALT o Long fixed contracts with no variable components with over 25 third-party hotel operators AROUNDTOWN S
Slide 32: Significant Internal Growth Potential
SIGNIFICANT INTERNAL GROWTH POTENTIAL FROM SUCCESSFUL HOTEL REPOSITIONINGS Cardo Brussels New Lobby Complete refurb, repositioning and rebranding into Cardo Roma, Autograph collection by Cardo Roma: Marriot. Further potential by upgrading ca. 260 rooms Complete refurb, repositioning and rebranding i
Slide 33: Strategic Top Tier Hotels in Strong Locations
STRATEGIC TOP TIER HOTELS IN STRONG LOCATIONS Hotel Rooms Brand Hotel Rooms Brand Hotel Rooms Brand Hilton Berlin Gendarmenmarkt Prime 623 NH Hotel Dortmund Prime Center 190 Mark Apart Berlin Prime Center Ku’damm 120 Center AC by Marriott Berlin Mitte 130 InterCity Hotel Dresden City Center 162 Bris
Slide 34: Logistics and Retail Portfolio
LOGISTICS AND RETAIL PORTFOLIO LOGISTICS: 2% OF THE PORTFOLIO RETAIL: 4% OF THE PORTFOLIO 4.7 YEAR WALT 4.1 YEAR WALT 4% of portfolio is retail, of which: • Over 1/4 is part of other asset types (ground floor retail, service areas, etc.) REDUCED SHARE REDUCED SHARE o Reduced from 7% in March 2020 du
Slide 35: Development & Invest Portfolio
DEVELOPMENT & INVEST PORTFOLIO: 5% OF TOTAL ASSETS Asset type Location Berlin Frankfurt 34% 12% 1 Identify potential Others 28% BERLIN BERLIN Building rights materialized into sellable 2 Crystallize gains permits: through sales: €0.9bn of disposals since 2021 BERLIN BERLIN Mostly major refurbishment
Slide 36: Overview of Selected Development Rights
OVERVIEW OF SELECTED DEVELOPMENT RIGHTS Lettable area Market rent Project name City Address Project type Planned use Status / capacity p.m. Conversion Berlin Kreuzberg Berlin Baerwaldstraße 36-37, 10961 with space addition Residential Pre-permit obtained 3k sqm €22/sqm Uhlandstraße 165,166; Refurbis
Slide 37: Turnaround Capital (TAC)
TURNAROUND CAPITAL (TAC): EUROPEAN OPPORTUNISTIC REAL ESTATE FUND BACKED BY AROUNDTOWN MARKET DYNAMICS AND European real estate faces pressure from debt refinancings, post-COVID capex backlogs, ESG demands, and fund lifecycle OPPORTUNITY ends, thereby driving price dislocations and forcing liquidati
Slide 38: Attractive Investment in Globalworth
ATTRACTIVE INVESTMENT IN GLOBALWORTH – THE LEADING LISTED OFFICE COMPANY IN POLAND & ROMANIA RIGHT INVESTMENT VEHICLE GLOBALWORTH PRIME ASSETS & STRONG TENANT BASE IN THE CEE MARKET o GWI is a leader in the Polish & Romanian office markets with best o Through a JV, AT and CPI hold together quality &
Slide 39: Business Risk Profile
HIGHEST RATED GERMAN COMMERCIAL REAL ESTATE COMPANY S&P Ratings Matrix 1 2 Financial risk profile 3 4 5 6 FINANCIAL POLICY Minimal Modest Intermediate Significant Aggressive High Leverage d o LTV guidance below 45% on a sustainable basis 1 Excellent aaa/ bbb- aa a+/a a- bbb aa+ /bb+ (Vonovia BBB+)2)
Slide 40: Capital Market Activity
CAPITAL MARKET ACTIVITY Capital market activity per year Capital market activity per issuance type 2015-2025 YTD €4.6bn €4.2bn €4.2bn €4.0bn €3.8bn Str. Bond €14.2bn €2.6bn €1.9bn Conv. Bond €0.8bn €1.2bn €0.8bn Equity €6.2bn €5.8bn €0.2bn 2015 2016 2017 2018 2019 2020 2021 2024 2025 Equity (incl. C
Slide 41: Perpetual Notes
PERPETUAL NOTES PRE-EXCHANGES REDUCTION POST-EXCHANGES CHARACTERISTICS OF PERPETUAL NOTES NEXT RESET AMOUNT COUPON*** AMOUNT COUPON*** RESET RATE*** DATE NO MATURITY: 369m EUR 7.078% ➔ 90m EUR 7.078% 20 Jan 2028 4.625% + 5Y MS o Perpetual notes have no maturity date. 200m EUR (GCP) 6.332% ➔ 48m EUR
Slide 42: High Debt Covenant Headroom
HIGH DEBT COVENANT HEADROOM EMTN PROGRAMME CURRENT COVENANTS COVENANT (MAR 2025) o Covenants are calculated based on IFRS reported figures, treating the OVERVIEW perpetuals as 100% Equity. Thus, TOTEL NET DEBT / TOTAL NET ASSETS <=60% ✓ 35% o Each of the bond covenants is met with a perpetuals are n
Slide 43: Focus on Innovation in Real Estate
FOCUS ON INNOVATION IN REAL ESTATE Touchdown concept In the beginning there were two spaces; the home and the office. in ground floor office lobbies Then came the third space. ATworld offers a new progressive way of working. A flexible, connected and ownable space; the fourth space. Not just a futur
Slide 44: Shaping the Future of Real Estate
SHAPING THE FUTURE OF REAL ESTATE ATechX is Aroundtown’s PropTech Accelerator Goal: - Accelerating the growth of innovative PropTech startups by providing access Together with prominent global Proptech VCs to AT's vast portfolio, network, resources and expertise & RE Investors: - Making a substantia
Slide 45: Appendix - ESG
Hamburger Menu Icon with solid fill APPENDIX - ESG AnnTuS Lichterfelde Basketball e.V. Anna Meyer Kahlen Berlin, PV System Berlin, EV Charging Infrastructure I TOP TIER LOCATIONS AROUNDTOWN SA Finnegan Koichi Godenschweger, Kreuzberger Kinderstiftung gAG 45
Slide 46: Commitment to ESG
COMMITMENT TO ESG E CLEARLY SET TARGETS S SOCIALLY RESPONSIBLE G HIGH LEVEL OF GOVERNANCE Reduce GHG emissions by 40% by Strong commitment to maintain 2030 high tenant satisfaction Management oversight from Board of Directors (BoD) Promote sustainable water Increase employee retention and consumptio
Slide 47: AT’s Long-Term ESG Targets
AT’S LONG-TERM ESG TARGETS UN Sustainable Development ESG TOPICS Goals (see here) Sub-topics Long-term targets • Achieve a 40% reduction in CO2 intensity by 2030 against the 2019 baseline, measured in CO2-equivalent emissions intensity, CO2e/m2 Climate Change Mitigation • Achieve a 20% reduction in
Slide 48: Green Building Certifications
ESG – ENVIRONMENT PART 1: ENERGY EFFICIENT BUILDINGS GREEN BUILDING CERTIFICATIONS Building upgrades with the goal to receive certifications (BREEAM, DGNB, LEED). Development/major refurbishments aimed to build for certification eligibility ➢ 53% of the commercial portfolio is certified ➢ 65% of off
Slide 49: GHG Emission Reduction
ESG – ENVIRONMENT PART 2: CONSERVING ENERGY MEASURES, REDUCING CARBON FOOTPRINT GHG EMMISSION REDUCTION ENERGY-IMPROVING INVESTMENTS Installation of Photovoltaics (PV), Combined Heat and Power (CHP), Combined Cooling, Heat & Power (CCHP), EV charging stations, smart meters, AI SWITCHING TO CLIMATE N
Slide 50: ESG - Environment Part 2: Energy Improving Investments
ESG – ENVIRONMENT PART 2: ENERGY IMPROVING INVESTMENTS Carbon reduction via installations of Photovoltaics Energy Efficient Heating EV Charging Stations energy efficient measures Generates carbon-free energy i.e. Combined Heat and Power Replaces carbon-intensive energy fuel These measures can reduce
Slide 51: Regular / Maintenance Capex Upgrade Energy Efficiency
ESG – ENVIRONMENT PART 2: REGULAR / MAINTENANCE CAPEX UPGRADE ENERGY EFFICIENCY Improved energy efficiency through better building Renewable energy systems and technological envelopes upgrading Roof, façade Window and basement LED systems Smart meters replacements insulation Heating, Green facilitie
Slide 52: Water and Waste Management
ESG – ENVIRONMENT PART 3: WATER AND WASTE MANAGEMENT WATER CONSUMPTION WASTE MANAGEMENT ➢ Remote water meters create awareness, influence tenant ➢ Further optimizing waste and operational costs through waste management behavior and help detect water leaks and unusual water usage systems (i.e., obtai
Slide 53: Social Part 1: Community Building
ESG – SOCIAL PART 1: COMMUNITY BUILDING AROUNDTOWN FOUNDATION LOCAL PARTNERSHIPS o AT focuses on establishing productive partnerships with local stakeholders to ensure that corporate activities are aligned to the tenants and communities Support to the Outpatient Children’s and Youth Hospice Service
Slide 54: Tenant Management
ESG – SOCIAL PART 2: TENANT MANAGEMENT ENGAGEMENT ENFORCEMENT Tailor-made approach, customized leases, QUALITY balancing tenants’ and the Company’s requirements TENANT MANAGEMENT Main tool to monitor and enforce tenant POLICY High quality support with Service Centers satisfaction, Annual Tenant Surv
Slide 55: Goal to Become Top Employer
ESG - SOCIAL PART 3: GOAL TO BECOME TOP EMPLOYER Goal to become top employer in commercial real estate to attract best new talent COLLABORATION TRAINING RETENTION Dynamic & open corporate Employee training programs to Performance based incentives to culture, promoting personal ensure knowledge shari
Slide 56: Board of Directors
BOARD OF DIRECTORS MARKUS LEININGER- INDEPENDENT DIRECTOR o Board of Directors – 5/7 members are independent/non- FORMER SENIOR BANKER WITH A FOCUS ON FINANCING, PRIVATE EQUITY AND REAL executive ESTATE. SERVED AS HEAD OF OPERATIONS WITH EUROHYPO AG AND RHEINHYP AG (COMMERZBANK) AND A MEMBER OF THE
Slide 57: Board Committees and the Advisory Board
BOARD COMMITTEES AND THE ADVISORY BOARD ALL COMMITTEES ARE IN PLACE WITH INDEPENDENT MEMBERS IN PLACE AUDIT COMMITTEE RISK COMMITTEE NOMINATION COMMITTEE REMUNERATION COMMITTEE ESG COMMITTEE (Maintaining the integrity of the financial (Assessing, monitoring and mitigating any (Identifying suitable c
Slide 58: Management Team
MANAGEMENT TEAM o Management body is supervised by the board of directors BARAK BAR-HEN – CO-CEO & COO EYAL BEN DAVID – CFO LIMOR BERMANN – CSO (CO-CHIEF EXECUTIVE OFFICER & CHIEF OPERATING OFFICER) (CHIEF FINANCIAL OFFICER) (CHIEF SUSTAINABILITY OFFICER) SINCE 2020 IN THE MANAGEMENT OF SINCE 2008 I
Slide 59: Management Team - Senior Management
MANAGEMENT TEAM – SENIOR MANAGEMENT NIKOLAI WALTER- HEAD OF ASSET & PROPERTY MANAGEMENT CHRISTIAN HUPFER - CHIEF COMPLIANCE OFFICER 20+ YEARS EXPERIENCE IN THE REAL ESTATE INDUSTRY. BEFORE JOINING THE GROUP, WAS A MANAGING DIRECTOR OF SINCE 2008 IN THE MANAGEMENT OF AROUNDTOWN AND ITS SUBSIDIARIES.
Slide 60: Strong Ranking With Agencies Sustainability
ESG AWARDS & INDICES 2024: STRONG RANKING SUSTAINABILITY CONSECUTIVE WITH AGENCIES INDICES EPRA AWARDS AT received EPRA BPR Gold award for the 8th o Included in the MDAX ESG+ index, Dow Jones time and EPRA sBPR Gold award for the 7th time o Maintained strong Sustainalytics rating Best-In-Class Index
Slide 61: Founding Member of UN Global Compact Germany
A FOUNDING MEMBER OF THE ASSOCIATION “UNITED NATIONS GLOBAL COMPACT GERMANY e. V.” AROUNDTOWN SA 61
Slide 62: Focus on Central Locations of Top Tier Cities
Hamburger Menu Icon with solid fill APPENDIX: FOCUS ON CENTRAL LOCATIONS OF TOP TIER CITIES I TOP TIER LOCATIONS MUNICH MANNHEIM COLOGNE FRANKFURT AROUNDTOWN SA 62
Slide 63: Berlin Alexanderplatz
BERLIN ALEXANDERPLATZ: THE PRIME COMMERCIAL AND TOURIST CENTER Landmark AT property BERLIN ALEXANDERPLATZ AT has over 130,000 SQM lettable space in the prime commercial and tourist center Alexanderplatz AROUNDTOWN SA 63
Slide 64: Berlin Potsdamer Platz
BERLIN POTSDAMER PLATZ: THE PRIME COMMERCIAL AND TOURIST CENTER Landmark Potsdamer Platz Office AT property Potsdamer Platz Checkpoint Charlie Mixed-use Residential/Office/Hotel (GCP) Office Potsdamer Platz Office Hilton Gendarmenmarkt Hotel Gendarmenmarkt AROUNDTOWN SA 64
Slide 65: Berlin Ku’damm
BERLIN KU’DAMM: THE PRIME COMMERCIAL AND TOURIST CENTER Berlin City Center Mitte Retail Landmark Potsdamer Platz Moxy by Marriot Berlin Mitte Ku’Damm KaDeWe Residential Hotel (GCP) AC by Marriot Berlin Mitte Hotel Ku’Damm KaDeWe Office AT property Berlin City Center Mitte Office Ku’damm /Uhlandstr.
Slide 66: Frankfurt: Quality Assets in Central Locations
FRANKFURT: QUALITY ASSETS IN CENTRAL LOCATIONS Landmark AT property FRANKFURT HBF & CBD Approx. 200,000 sqm lettable space in Frankfurt prime centers, main central train station and banking district AROUNDTOWN SA 66
Slide 67: Frankfurt: Near Main Central Train Station and Messe
FRANKFURT: QUALITY ASSETS NEAR MAIN CENTRAL TRAIN STATION AND MESSE Frankfurt Stadtmitte Office Landmark Frankfurt Büro Center (FBC) Office Frankfurt Messe Frankfurt Messe Frankfurt Messe AT property Office Office Office Intercontinental Frankfurt Hotel Frankfurt Banking District Frankfurt HBF Offic
Slide 68: Munich: Assets in Central Locations
MUNICH: ASSETS IN CENTRAL LOCATIONS, NEAR EXHIBITION CENTER & COMMERCIAL HUBS Landmark Global HQs of Allianz Global Corporate & German HQs of Generali Specialty Insurance AT property Global HQs of Wacker Chemie AG Munich Messe Munich Siemens Office Campus Office Global HQs of Office BSH Group Four M
Slide 69: Amsterdam - Centrally Located High Quality Assets
AMSTERDAM – CENTRALLY LOCATED HIGH QUALITY ASSETS Landmark Amsterdam Zuidoost Amsterdam Zuidoost Office Office Amsterdam Sloterdijk Train Station Amsterdam West Office AT property Complex Office Amsterdam Arena Office Amsterdam Sloterdijk Office Amsterdam Westpoort Office Amsterdam Arena Amsterdam A
Slide 70: Dresden & Leipzig - Assets at Hauptbahnhof
DRESDEN & LEIPZIG – CENTRALLY LOCATED TOP TIER ASSETS AT HAUPTBAHNHOF Landmark Dresden main central train station AT property Main central train station Office Leipzig main central train station Main central train station Hotel Main central train station Office Main central train station Hotel City
Slide 71: Appendix: Market Data
Hamburger Menu Icon with solid fill APPENDIX: MARKET DATA I TOP TIER LOCATIONS BERLIN BRUSSELS COLOGNE LONDON AROUNDTOWN SA 71
Slide 72: Regional Market Overview
REGIONAL MARKET OVERVIEW Amsterdam Berlin ◼ GDP/capita: €102k (2022) ◼ GDP/capita: €79k (2021) ◼ Net migration: 9k p.a. (avg 2018-2022) ◼ Net migration: 30k p.a. (avg 2018-2022) ◼ Population density: 5.3k per km2 (2022) ◼ Population density: 4.1k per km2 (2021) Utrecht Hamburg ◼ GDP/capita: €65k (20
Slide 73: Office: Normalizing Work Patterns
OFFICE: NORMALIZING WORK PATTERNS o Traditional office work patterns are returning, as witnessed by recent announcements from large corporations, demanding full office attendance. o Return-to-office rate (average attendance current vs pre-pandemic) is 89% in Germany, with an average attendance rate
Slide 74: Resilient German Residential Market
RESILIENT GERMAN RESIDENTIAL MARKET POSITIVE NET MIGRATION REDUCTION OF HOUSEHOLD SIZE SIGNIFICANT UNDERSUPPLY RESULTS IN HIGH DEMAND RESULTS IN HIGH DEMAND Positive Net Migration in Germany 1) Increase in the share of 1 person households1) Building permits at low levels, significantly below demand
Slide 75: European Hotel Sector to Continue to Grow Steadily in 2025
HOTEL SECTOR OUTLOOK: CONTINUED GROWTH EXPECTED AT A STEADY PACE EUROPEAN HOTEL SECTOR TO CONTINUE TO GROW STEADILY IN 20251) ❑ Higher international tourist arrivals and overnight stays to be expected in 2025. ❑ International business and leisure travel showcase meaningful growth. ❑ Strong RevPAR gr
Slide 76: Alternative Performance Measures
ALTERNATIVE PERFORMANCE MEASURES For enhanced transparency and more industry specific comparative basis, the Company provides market and industry standard performance indicators. These measures provide more clarity on the business and enables benchmarking and comparability to market levels. Reconcil
Slide 77: Disclaimer
DISCLAIMER IMPORTANT: This presentation has been provided for information purposes only and is being Accordingly, neither the Group nor any of its directors, officers, employees or advisers circulated on a confidential basis. This presentation shall be used only in accordance nor any other person ma