Hyprop Investments Limited · JSE:HYP
Hyprop Investments — Corporate Update (June 2025)
29 slides from Hyprop Investments's corporate update, June 2025
Slide 1: Pre-close Operational Update
Pre-close Operational Update Five months ended 31 May 2025
Slide 2: Our journey
2 CapeGate, Western Cape, South Africa Our journey
Slide 3: Progress made since 2019
Progress made since 2019 3 Group South Africa Eastern Europe Sub-Saharan Africa Implemented the Hystead Liquidity Increased exposure in the Western Cape Completed Skopje City Mall’s 2-year Sold Manda Hill in Zambia and Event redevelopment project Achimota in Ghana at market value - Table Bay Mall ac
Slide 4: Financial analysis
4 Rosebank Mall and offices, Gauteng, South Africa Financial analysis
Slide 5: Key treasury metrics
Key treasury metrics 5 Group Loan to value ratio (%) Interest cover ratio (ICR) 2.1 – 2.6 30 - 37 36.4 36.3 34.2 2.47 2.55 June December Pro forma after June December 2024 2024 capital raise 2024 2024 IFRS ICR
Slide 6: Cashflows from operations underpin Distributable Income
Cashflows from operations underpin Distributable Income 6 SA Collections (R’m) – 17 months to May 2025 360.9 345.1 346.3 335.3 333.1 333.8 90% - 110% 326.6 325.4 325.1 326.5 240 - 400 319.4 311.6 311.0 333.4 101% 329.1 304.8 303.9 319.3 317.5 323.9 321.8 317.1 282.0 313.8 311.5 300.8 303.0 303.2 303
Slide 7: Group borrowings maturity profile
Group borrowings maturity profile 7 Rand equivalent (R’m) 600 2 694 0 – 4 000 500 250 250 1 012 1 482 405 1 099 500 760 869 740 682 689 500 500 548 511 606 502 425 249 303 299 Q3: Q4: Q1: Q2: Q3: Q4: Q1: Q2: Q3: Q4: Q1: Q2: Q3: Q4: Q1: Q2: Q2: Q4: Q1: 2025 2025 2026 2026 2026 2026 2027 2027 2027 202
Slide 8: Interest rate hedges
Interest rate hedges 8 Includes forward starting hedges ZAR (R’m) 8 370 6 150 0 – 9 000 4 650 2 150 June 2025 December 2025 June 2026 December 2026 June 2027 December 2027 Swaps (R2 150m) Caps (R2 500m) All hedges (incl. collars – R1 500m) Term borrowings EUR (€’m) 306 291 0 - 350 June December June
Slide 9: Payout ratio
9 Payout ratio • The Board has decided to increase the dividend payout ratio due to the significant progress made towards achieving our strategic priorities. Key changes include: - An interim dividend of 95% (up from 90%) of distributable income from the SA portfolio. - A final dividend to be announ
Slide 10: South Africa: Operational performance
South Africa Operational performance The Glen, Gauteng, South Africa
Slide 11: Operational performance metrics
Operational performance metrics 11 South Africa – 12 months ended May 2025 5.9% 0.9% 5.6% 5.9% 0.0% - 20.0% Other Metrics Effort Ratio 9.9% 0 - 100 8.8% 8.7% 6.8% 4.2% 8.2% 12.7% 10.2% 5.9% 14.0% 5.3% 13.8% 6.9% 0.6% 1.4% 7.4% 2020/2021 2021/2022 2022/2023 2023/2024 2024/2025 Vehicle Count (m) Annua
Slide 12: Operational performance metrics
Operational performance metrics 12 South Africa – Historical monthly comparison (incl. historic figures for Table Bay Mall) Tenant turnover (R’m) Monthly trading density (R) 11.0% 15.1% 12.8% Millions 0 – 3 000 0 – 4 500 8.5% 2.0% 10.7% 6.3% 6.6% 8.3% 4.0% Jan Feb Mar Apr May Jan Feb Mar Apr May Foo
Slide 13: SA leasing activity – year-to-year
SA leasing activity – year-to-year 13 Reversions (% of area) Rental Reversions Retail Office Total Renewal Reversion Rate* (0.4%) 5.0% (0.8%) (weighted average) * Relates to 20.9% of Portfolio GLA New Deal Reversion Rate^ 13.5% 46.9% 17.0% 0% - 60% (weighted average) ^ Relates to 5.3% of Portfolio G
Slide 14: Completed project
14 Completed project Rosebank Mall, Gauteng Dual-fuel generator and battery storage
Slide 15: Project in progress
15 Project in progress Hyde Park Corner, Gauteng Checkers FreshX
Slide 16: Project in progress
16 Project in progress Somerset Mall, Western Cape Expansion, retiling and bathroom upgrade
Slide 17: Project in progress
17 Sold to MEDICLINIC Development Agreement on Leasehold basis: Giflo and SOM Project in progress CapeGate, Western Cape Satellite offices
Slide 18: Future project
47 Phase 2 In progress Phase 1 completed Phase 3 Future project Somerset Mall, Western Cape Phase 3 expansion
Slide 19: Future project
Right-size Right-size Pick n Pay stores New line New line stores stores Future project The Glen, Gauteng Master Plan Phase 1
Slide 20: Future project
Future project CapeGate, Western Cape Phase 1 retail extension
Slide 21: Eastern Europe: Operational performance
Eastern Europe Operational performance City Center one West, Zagreb, Croatia
Slide 22: Operational performance metrics
Operational performance metrics 22 Eastern Europe – 12 months ended May 2025 6.4% 11.2% 14.6% 15.8% 0.0% - 20.0% Other Metrics Effort Ratio 0 - 70 10.7% 9.8% 9.6% 9.3% 14.6% 1.3% (1.2%) 11.6% 10.1% 14.3% 11.0% 5.6% 18.7% 10.0% 3.3% 4.1% 2020/2021 2021/2022 2022/2023 2023/2024 2024/2025 Vehicle Count
Slide 23: Operational performance metrics
Operational performance metrics 23 Eastern Europe – Historical monthly comparison Tenant turnover (€’m) Monthly trading density (€) 11.3% 10.1% 0 – 400 0 - 60 2.8% 1.6% 2.0% 1.7% (0.4%) 3.2% 0.2% 2.4% Jan Feb Mar Apr May Jan Feb Mar Apr May Foot count (m) Vehicle count (‘000) 3.0% 0.1% 0.7% 0.3% 200
Slide 24: EE leasing activity – year-to-year
EE leasing activity – year-to-year 24 Reversions (% of area) Rental Reversions Retail Renewal Reversion Rate* 11.7% (weighted average) * Relates to 7.9% of Portfolio GLA 0% - 75% New Deal Reversion Rate^ 5.7% (weighted average) ^ Relates to 2.4% of Portfolio GLA Overall Reversion Rate# 10.3% (weight
Slide 25: Potential MAS transaction
25 Potential MAS transaction • In line with our diversification and growth strategies • Opportunity to scale the business with a portfolio that is complementary to our EE portfolio • Access to new Eastern Europe countries – Romania and Poland • Transaction offers MAS shareholders exposure to a more
Slide 26: In closing
In closing Table Bay Mall, Cape Town, South Africa
Slide 27: Looking ahead
Looking ahead 27 Creating spaces and connecting people Group South Africa Eastern Europe • On track to meet guidance for growth in • Install rooftop solar-PV for The Glen (3 295kWh) • Secure extension rights at three centres distributable income and CapeGate (5 337kWh) • Retiling at CCo West • Regul
Slide 28: Q&A
Q&A Rosebank Mall, Gauteng, South Africa
Slide 29: Investor Relations
Investor Relations Boitumelo Nkambule - boitumelo@hyprop.co.za Clearwater Mall, Gauteng, South Africa