Hamborner Reit Ag · XETR:HABA
Hamborner Reit — Investor Presentation (May 2022)
34 slides from Hamborner Reit's investor presentation, May 2022
Slide 1: Company presentation May 2022
Company presentation May 2022 Office property Ingolstadt
Slide 2: Agenda
Agenda 1. HAMBORNER at a glance 2. Portfolio Overview 3. Asset Management 4. Financials 5. Sustainability / ESG 6. Appendix 2
Slide 3: 1. HAMBORNER at a glance
1. HAMBORNER at a glance Office property ‚Nu-Office‘ Munich
Slide 4: Company profile
Company profile History Company profile ▪ Public commercial property company 1953 Foundation of HAMBORNER ▪ Profitable and diversified German-wide property portfolio Listing on stock exchange ▪ Two-pillar portfolio structure with focus on food-anchored retail and 1954 office properties Clear focus o
Slide 5: The HAMBORNER Share
The HAMBORNER Share The HAMBORNER Share Shareholder structure Current share price €8.87 (as of 30 April 2022) Market capitalisation €722m (as of 30 April 2022) 12.20% RAG Foundation WKN/ISIN A3H2333 / DE000A3H2333 5.52% BlackRock Ticker symbol HABA 81,343,348 shares 4.85% Belfius Insurance Class of
Slide 6: 2. Portfolio Overview
2. Portfolio Overview Office property Münster
Slide 7: Portfolio Strategy – Target Structure
Portfolio Strategy – Target Structure Retail Portfolio Office Portfolio Manage-to-Core properties Manage-to-Core properties 10-20% 10-20% with value-add potential with value-add potential Maintaining/extension of 80-90 % Maintaining/extension of 80-90% core retail portfolio with 80-90% core office p
Slide 8: Portfolio Management Approach
Portfolio Management Approach ▪ Retail Asset classes ▪ Office ▪ Core Risk profile ▪ Manage-to-Core ▪ > €10m (retail) Lot size ▪ > €20m (office) ▪ Focus on core investments ▪ Addition of selected Manage-to-Core properties with larger asset management need (refurbishment, reletting, repositioning etc.
Slide 9: Portfolio key metrics as of 31 March 2022
Portfolio key metrics as of 31 March 2022 Retail Office Total Portfolio(1) Core Manage-to-Core(2) Number of properties 40 28 68 65 3 Fair Value €872.0m €749.0m €1,621.1m €1,548.2m €72.9m Leased area 375,431 m² 229,647 m² 605,078 m² 577,879 m² 27,198 m² Annualized rent €47.1m €36.1m €83.2m €78.5m €4.
Slide 10: Geographical Portfolio Structure
Geographical Portfolio Structure Geographical Focus (Metropolitan Regions in Germany) Portfolio by Metropolitan Regions Metropolitan Region Share of portfolio volume 6 1 Rhine-Ruhr 21.8% 10 2 Frankfurt Rhine-Main 12.0% 9 3 Nuremberg 10.3% 4 4 Berlin-Brandenburg 8.5% 5 Munich 5.9% 1 11 6 Hamburg 5.9%
Slide 11: Portfolio development
Portfolio development 2.000 50 Portfolio value and average property value Comments 1,625 1,621 ▪ Continuous value-adding portfolio growth since 1,598 1,604 40 conversion into a G-REIT in 2010 1,517 1.500 1,363 ▪ Average annual growth rate of 12.3% over the last ten years 1.115 30 ▪ Average property
Slide 12: Investments 2021
Investments 2021 Mainz Stuttgart Münster Freiburg Asset type Office (Single-tenant) Office (Multi-tenant) Office (Multi-tenant) Retail (Single-tenant) Investment approach Manage-to-Core Manage-to-Core Core Core Year of construction 1994 1991 2021 2018 Leased area 7,748 m2 5,929 m2 6,328 m2 10,660 m2
Slide 13: Recent acquisition
Recent acquisition Kempten Key Data Asset type Retail (DIY) Investment approach Core Year of construction 2011 Leased area 17,400 m2 Remaining lease term 11.0 years(1) Occupancy rate 100% Annual rental income €1.5m Purchase price €29.8m Gross initial yield 5.1% Transfer of possession 22 April 2022 (
Slide 14: Portfolio Rotation
Portfolio Rotation Transactions since strategy update in July 2020(1) Portfolio as of 30 June 2020 Portfolio as of 31 March 2022 Assets 83 Assets 68 Portfolio Volume €1,631m Portfolio Volume €1,640.3m Ø value per asset €19.9m Ø value per asset €24.1m (+21%) Ø age of asset 26.6 years Ø age of asset 1
Slide 15: 3. Asset Management
3. Asset Management Retail property ‚Rondo Steinheim‘ Hanau
Slide 16: Tenant base
Tenant base Top-10 tenants (as of 31 March 2022) Sector distribution (as of 31 March 2022) Tenant Sector Rent(1) Sector Rent(1) EDEKA Food retail 11.9% Food 32.2% Kaufland Food retail 7.6% DIY 10.4% OBI DIY 7.0% IT/Communication 10.3% REWE Food retail 5.8% Finance/Insurance 8.4% Jobcenter Agency of
Slide 17: Lease contracts
Lease contracts Weighted average lease expiry (as of 31 March 2022) Letting result Q1 2022 17,410m² 13,559m² 77% 6.9 years 86% 6.1 years 3,850m² 5.1 years 47% 53% 23% 14% Retail Office Total New lettings Contract extensions Total Retail Office Lease expiry schedule (as of 31 March 2022; in % of annu
Slide 18: 4. Financials
4. Financials Office property/Medical center Regensburg
Slide 19: Key figures Q1 2022
Key figures Q1 2022 Key figures 31 March 2022 31 March 2021 Change Profit and loss statement Income from rents and leases €20.8m €21.8m -4.4% Operating result €5.3m €7.3m -27.8% Profit for the period €2.1m €10.4m -79.9% Key KPIs Funds from Operations (FFO) €11.0m €12.7m -13.0% Funds from Operations
Slide 20: Funds from operations (FFO)
Funds from operations (FFO) in k€ Q1 2022 Q1 2021 Change Comments 1 Income from rents and leases 20,849 21,810 -4.4% ▪1 Decline in rental income mainly due to Income from passed on costs 3,421 3,707 -7.7% property disposals (€-2.2m). Rent decrease partly offset by portfolio Operating expenses -5,628
Slide 21: EPRA NAV & NTA
EPRA NAV & NTA NAV development 2022 €11.0m -€1.1m €0.3m €995.1m -€0.5m €994.6m €984.9m NAV FFO Acquisitions Other NAV Intangible NTA 31 Dec 2021 effects 31 March 2022 Assets 31 March 2022 NAV p/s NAV p/s NTA p/s +1.0% €12.11 €12.23 €12.23 Positive NAV development mainly driven by stable earnings s
Slide 22: Financial situation
Financial situation Expiration of financial liabilities (as (asofof31 31March December 2022) 2021) Refinancing 2022 60.8% completed REIT Equity ratio Ø interest rate: 1.6% Ø maturity: 6.3 years 41.1% LTV €749.5m 1.7% Financial liabilities(1) 20.2% 1.60% 8.3% 12.1% 12.9% Ø Cost of debt(1) 10.7% 7.2%
Slide 23: Outlook
Outlook Guidance 2022 €84.0 – 86.0m €46.5m – €50.5m ~Previous year‘s level Rental income FFO NAV per share Mid-term outlook ~€2.0bn ~€100.0m Target portfolio size Ø annual acquisition volume Financials | 23
Slide 24: 5. Sustainability / ESG
5. Sustainability / ESG Office property Neu-Isenburg
Slide 25: Sustainability / ESG strategy
Sustainability / ESG strategy Strategic development and guidelines Key Action Areas ▪ Integration of sustainability/ESG criteria into overall strategy ▪ Implementation of strategic sustainability programme ▪ Planning and controlling of sustainability activities by internal Corporate Environmental Go
Slide 26: ESG organization
ESG organization Supervisory Board Internal Sustainability Committee ▪ Sustainability Committee consisting Supervisory Management of Management Board members and Board Board the ESG Officers from individual ▪ Advising and monitoring ESG Committee of Management Board business areas Controlling & Risk
Slide 27: Environmental Sustainability
Environmental Sustainability Key Action Area Progress 2020/2021 Status(1) Next steps / short- to medium-term targets ▪ Data management optimisation and database expansion Target Ongoing ▪ Ongoing systematization of recording and analysis of ESG data ▪ Creation of detailed report on carbon footprint
Slide 28: Employee development & Governance
Employee development & Governance Key action area Progress 2020/2021 Status(1) Next steps / short- to medium-term targets ▪ Review and implementation of further measures to enhance ▪ Enhanced flexibility of working model Target 100% 0% 20% 40% 60% 80% 100 % employer attractiveness ▪ Implementation o
Slide 29: 6. Appendix
6. Appendix Retail Lengerich
Slide 30: Top-10 properties (1/2)
Top-10 properties (1/2) Munich Berlin Cologne Mannheim Karlsruhe Asset type Office Office Office Retail Retail Year of acquisition 2013 2013 2017 2016 2012 Purchase price €40.2m €33.0m €48.9m €80.0m €37.0m Fair value(1) €80.1m €77.1m €76.9m €76.9m €56.0m Annual rents €2.6m €2.5m €2.9m €4.0m €2.7m WA
Slide 31: Top-10 properties (2/2)
Top-10 properties (2/2) Hanau Hallstadt Aachen Celle Erlangen Asset type Retail Retail Office Retail Office Year of acquisition 2017 2017 2020 2015 2011 Purchase price €37.5m €40.4m €37.4m €35.2m €27.9m Fair value(1) €46.7m €43.9m €41.6m €40.9m €38.0m Annual rents €2.0m €2.5m €2.0m €2.0m €2.1m WALT(
Slide 32: Financial Calendar
Financial Calendar Half-year financial report 2022 9 August 2022 Quarterly financial statement Q3 2022 10 November 2022 Preliminary figures for the 2022 financial year 9 February 2023 Annual Report 2022 16 March 2023 Quarterly financial statement Q1 2023 25 April 2023 Annual General Meeting 2023 27
Slide 33: Contact
Contact Niclas Karoff Hans Richard Schmitz CEO COO/CFO Mail: n.karoff@hamborner.de Mail: h.schmitz@hamborner.de Christoph Heitmann HAMBORNER REIT AG Head of Investor Relations & Web: www.hamborner.de/en Public Relations Mail: c.heitmann@hamborner.de Mail: info@ir.hamborner.de Phone: +49 (0)203/54405
Slide 34: This presentation has been prepared and/or issued by HAMBORNER REIT AG (hereinafter "HAMBORNER") solely
This presentation has been prepared and/or issued by HAMBORNER REIT AG (hereinafter "HAMBORNER") solely for information purposes. This presentation may contain statements, assumptions, opinions and predictions about the anticipated future development of HAMBORNER ("forward-looking statements") that