Selectirente Sa · EURONEXT:SELER
Selectirente Sa — Investor Presentation (November 2024)
34 slides from Selectirente Sa's investor presentation, November 2024
Slide 1: The French Listed Property Company Specialised in City-Centre Retail Stores
THE FRENCH LISTED PROPERTY COMPANY SPECIALISED IN CITY-CENTRE RETAIL STORES Investor Presentation November 2024 www.selectirente.com 1
Slide 2: Disclaimer
DISCLAIMER This document has been prepared by SELECTIRENTE (the "Company") for information purposes only, as a supplement to information published elsewhere by SELECTIRENTE. This document may not be reproduced or distributed, in whole or in part, by any person other than the Company. To the extent p
Slide 3: Selectirente in a Nutshell
SELECTIRENTE IN A NUTSHELL
Slide 4: DNA of the SIIC
DNA OF THE SIIC Managed by SELECTIRENTE GESTION: a subsidiary wholly owned by SOFIDY, one of the main players in real estate fund management, belonging to the TIKEHAU CAPITAL Group (AUM €45.6bn as at 30/06/2024) One of the only pure player European listed property companies specialised in city-centr
Slide 5: Evolution of the Company
EVOLUTION OF THE COMPANY €575m portfolio value 1st SLL1 - €80m early refinancing of the RCF €315m with the historical banking portfolio value SELECTIRENTE's operational €240m partners at the beginning of bank refinancing July 2024 and financial performance is constantly improving with in February 20
Slide 6: A Unique and Opportunistic Investment
A UNIQUE AND OPPORTUNISTIC INVESTMENT A niche and resilient asset class with strong growth opportunities A high quality, well-diversified portfolio, mainly located inside Paris and in the city-centres of major French metropolises, generating stable and predictable cash flow over the long term A valu
Slide 7: Strong Management Team
STRONG MANAGEMENT TEAM Expert in property management and investment with +20 years of experience With a strong ambitions for maintaining growth momentum and continuing to create value • Strengthening position in the top 10 French cities and seizing opportunistic positions across Continental Europe •
Slide 8: Rigorous and Dynamic Portfolio Management
RIGOUROUS AND DYNAMIC PORTFOLIO MANAGEMENT 8
Slide 9: Dynamic Rental Management Evolution & Resilience
DYNAMIC RENTAL MANAGEMENT EVOLUTION & RESILIENCE SELECTIRENTE: Manager Property management Closeness to Disposal policy: excellent track SELECTIRENTE entrusted to SOFIDY, a tenants and strategic, active record in the retail Gestion: in-depth leading historical player retailers and continuous, sector
Slide 10: Diversification of the Portfolio at the End of June 2024
DIVERSIFICATION OF THE PORTFOLIO AT THE END OF JUNE 2024 A granular & diversified portfolio of high quality, directly owned properties, with 85% of the portfolio consisting of city-centre retail properties, more than 60% of which are located in Central Paris Distribution of the direct real estate Ge
Slide 11: Granularity of the Portfolio at the End of June 2024
GRANULARITY OF THE PORTFOLIO AT THE END OF JUNE 2024 The granularity & diversification of Selectirente’s tenants is in the core DNA and investment strategy of the company Number of % of rent out Tenant Activities rental units of all rent Universal Studios (IMG) Film and short film producer 7 7,4% So
Slide 12: Strategy
SELECTIRENTE STRATEGY
Slide 13: A Dual Growth Strategy
A DUAL GROWTH STRATEGY Ability to identify projects that will create value 02 …and an opportunistic & 01 The local retail trade mainly… value accretive development Retailers and brands in city-centres, focused on the phenomenon of mainly in Paris and the Île-de-France metropolisation (sectoral and c
Slide 14: Asset Management Is a Key Pillar of Growth
ASSET MANAGEMENT IS A KEY PILLAR OF GROWTH Value accretion Value accretion Value accretion through Lease transfer through Leasing through new leasing 2023 2024 2022 COMMERCIAL PREMISES COMMERCIAL PREMISES COMMERCIAL PREMISES Rue de la Verrerie - Aix-en- Provence Rue Rambuteau - Paris 1st & 3rd Rue d
Slide 15: Strategic Disposals: Driving Growth and Maximizing Value
STRATEGIC DISPOSALS: DRIVING GROWTH AND MAXIMIZING VALUE Since its creation, SELECTIRENTE has demonstrated its great resilience and ability to create value by selling non-strategic or mature assets at attractive prices to optimise its portfolio CREATING VALUE REFOCUSING THE ASSETS Results through ca
Slide 16: Commercial Property: A Resilient Market Through Cycles
COMMERCIAL PROPERTY A RESILIENT MARKET THROUGH CYCLES 16
Slide 17: Zoom on Paris: Driving Force Behind Retail Activity
ZOOM ON PARIS: PARIS, THE DRIVING FORCE BEHIND RETAIL ACTIVITY Increased footfall and dynamic high street shopping, with a marked return of air traffic to the Île-de-France region. INVESTMENT MOMENTUM Tourism remains on a positive trajectory, with attractive exchange rates - Paris and the Île-de-Fra
Slide 18: Good Momentum for Retail Stores and City Centres
GOOD MOMENTUM FOR RETAIL STORES AND CITY CENTRES Household consumption: 75% Retail investment: 64% +0.7% of French people try to shop in physical stores rather than on the €0.9bn of consumers believe that physical shops are an important contact estimated in 2024 internet** in H1 2024 point, even if
Slide 19: Unlocking Value in France's Local Retail Market
UNLOCKING VALUE IN FRANCE’S LOCAL RETAIL MARKET Against a relatively turbulent macroeconomic backdrop, city-centre retail property continues to prove its resilience and remains promising. Footfall in city-centres continues to rise, fuelled by the French people's attachment to their local shops, the
Slide 20: ESG Commitments
SELECTIRENTE ESG COMMITMENTS
Slide 21: ESG Commitments
ESG COMMITMENTS Selectirente has been strongly committed to developing and implementing a rigorous ESG policy for several years. At the end of January 2023, SELECTIRENTE published its Sustainable Development Commitments SOCIAL ENVIRONMENT GOVERNANCE Working towards the development of Monitoring and
Slide 22: SLL and ESG KPIs
SLL AND ESG KPIs ➢ SELECTIRENTE has strengthened its commitments to sustainable development by converting two credit lines into Sustainability-Linked Loans (SLL) ➢ These loans integrate ESG objectives linked to three extra-financial performance criteria that can affect the banking margins KPI KPI #1
Slide 23: Strong Operational and Financial Performance
STRONG OPERATIONAL AND FINANCIAL PERFORMANCE 23
Slide 24: Highlights & Performances at 30 June 2024
Strong operational and Financial performances A. Highlights & Performances at 30 June 2024 24
Slide 25: Key Figures of the 1st Semester 2024
KEY FIGURES OF THE 1ST SEMESTER 2024 €575m 94.6% 406 Assets Value of assets excluding Average annual financial and transfer duties occupancy rate 532 tenants €15.0m €2.56/share €3.17/share Gross rental income EPRA Earnings IFRS net income (Stable vs H1 2023) (vs €2.61 /share in H1 2023) (vs. €1.2 /s
Slide 26: Creation of Value for Shareholders
CREATION OF VALUE FOR SHAREHOLDERS Outperformance of the stock compared to its benchmark CHANGE IN Dividends (IN € / SHARE) Outperformance of the stock compared to its benchmark 3.80 4.0 3.60 3.45 3.50 3.25 3.20 2.80 2.90 (Basis 100 – IPO) 2015 2016 2017 2018 2019 2020 2021 2022 2023 CHANGE IN EPRA
Slide 27: Evolution
Strong operational and Financial performance B. Evolution 27
Slide 28: Significant Growth in Key Performance KPIs
SIGNIFICANT GROWTH IN KEY PERFORMANCE KPIs CONTINUOUS GROWTH SINCE 2020 Gross rental income M€ EPRA Earnings €/share 5,35 30,3 28,1 4,68 4,04 22,4 17,5 2,98 2020 2021 2022 2023 2020 2021 2022 2023 Net Cash Flow €/share Dividend €/share 5,28 4,00 4,84 3,8 4,32 3,6 3,25 3,08 2020 2021 2022 2023 2020 2
Slide 29: Sustained Strong Growth Since 2019
SUSTAINED STRONG GROWTH SINCE 2019 FOCUS 2019 - 2024 PORTFOLIO (appraisal value excluding duties tranfer) (In €m) €30.3m €575m 532 570 2019 capital €575m* increase - €217m 470 366 €315m €16m 370 270 Portfolio value Rent Number of leases (annual basis) 170 2013 2014 2015 2016 2017 2018 2019 2020 2021
Slide 30: Evolution of the Financing Structure
EVOLUTION OF THE FINANCING STRUCTURE STRUCTURING OPERATION TO ACCELERATE THE COMPANY'S GROWTH In July 2024 with the same historical banking In February 2022 with BECM, HSBC, Crédit partners du Nord and Société Générale • A €50m 5-year term corporate mortgage • Corporate loan of €100m - mainly to loa
Slide 31: Outstanding Debts Post-Refinancing
OUTSTANDING DEBTS POST-REFINANCING Evolution of the outstanding capital by year and by type of debt 250 As at 12 July 2024: 212 208 204 200 • Cash and cash equivalents: ~€5m Outstanding Capital (M€) 150 • Undrawn bank financing: €20m • Average residual maturity: ~5 years 100 91 87 • Share of debt at
Slide 32: Outlook 2025
Strong operational and Financial performance C. Outlook 2025 32
Slide 33: Detailed Selectirente 2025 Outlook
DETAILED SELECTIRENTE 2025 OUTLOOK Pursuing the wise and selective growth dynamic … ….and keeping the value creation strategy • By capitalising on: • through disciplined and rigorous property management based on the expertise and track record of the operational • its resilient asset base, with stron
Slide 34: Follow us on LinkedIn
Follow us on LinkedIn https://www.linkedin.com/company/selectirente/ 303 square des Champs Elysées 91080 Evry Courcouronnes FRANCE 01 69 87 02 00 selectirente@selectirente.com 34