Patrizia Se · XETR:PAT
Patrizia — H1 2021 Earnings Presentation
20 slides from Patrizia's earnings presentation, Aug 5, 2021
Slide 1: Results Presentation H1 2021
Company Presentation Results Presentation PATRIZIA | © 2021 March 2021 H1 2021 | 5 August 2021
Slide 2: Video presentation
Video presentation PATRIZIA H1 2021 Financial Results | Video presentation Let our CFO Karim Bohn guide you through the most important points of our H1 2021 Financial Results Access via QR code Access via weblink https://youtu.be/aLASXummJ3Q PATRIZIA | © 2021 2
Slide 3: PATRIZIA beyond financials – H1 2021 milestones
Financials H1 2021 PATRIZIA beyond financials – H1 2021 milestones Management fully focused on delivering on Strategy 2023 Resilient business Structural growth Accelerating trends model and platform market EUR 2.1bn of transactions signed Client demand, ECB policy and Tech, ESG and Impact Investing
Slide 4: PATRIZIA financials – H1 2021 key messages
Financials H1 2021 PATRIZIA financials – H1 2021 key messages A forward-thinking partner who invests responsibly to deliver real value 1 2 3 4 Continued Rock-solid Increased Guidance for FY growth balance sheet business 2021 confirmed activity Growth in AUM to Net equity ratio of With a well-filled
Slide 5: PATRIZIA’s balance sheet is stronger than ever
Financials H1 2021 PATRIZIA’s balance sheet is stronger than ever PATRIZIA has the financial flexibility to invest in inorganic growth, its platform and technology to offer its clients best in class products Strong balance sheet Significant liquidity EUR m 30.06.2021 EUR m 30.06.2021 • Strong balanc
Slide 6: Financials & Guidance H1 2021
Financials & Guidance H1 2021 PATRIZIA | © 2021 6
Slide 7: Highlights
Financials H1 2021 Highlights PATRIZIA on track to reach FY 2021 guidance – confirmed guidance implies continued growth during H2 2021 H1 2021 Full-year guidance 2021 • Operating income of EUR 57.4m in H1 2021 compares to EUR 74.1m in H1 2020 • Operating income in a range of EUR 100.0m to 145.0m due
Slide 8: Operating income
Financials H1 2021 Operating income Solid H1 2021 results on track to reach the FY 2021 guidance • Operating income of EUR 57.4m in H1 2021 compares to EUR 74.1m in H1 2020 due Composition H1 2021 | EUR m to timing differences in the realisation of performance fees and co-investment income – P
Slide 9: Management fees
Financials H1 2021 Management fees Continued growth in AUM and recurring management fees • Management fees of EUR Management fees | EUR m Assets under management | EUR bn 104.0m (+8.2% y-o-y) prove the stability and resilience of 50.0 – 53.0 the business model 204.0 – 208.0 +2.5% 48.2 • The level
Slide 10: Transaction fees
Financials H1 2021 Transaction fees Accelerating business activity expected to continue during H2 2021 • During H1 2021 PATRIZIA signed transactions worth EUR 2.1bn for its global clients, an increase of 30.0% y-o-y Transaction fees | EUR m Transaction volume (signed) | EUR bn • Ongoing transaction
Slide 11: Performance fees
Financials H1 2021 Performance fees Continued strong investment performance realised for clients • Performance fees of EUR 43.4m down 20.5% y-o-y due to timing differences in Performance fees | EUR m realisation of asset and fund performance (in H1 2020 a higher number of investments were realised d
Slide 12: Guidance for FY 2021 confirmed
Financials H1 2021 Guidance for FY 2021 confirmed Profitable growth to continue – FY 2021 Guidance in line with mid-term strategy Confirmed assumptions for FY 2021 Income composition FY 2021e | EUR m 49% 51% • Recurring management fee growth of 5.5 - 7.5% expected for FY 2021 driven 58% by further o
Slide 13: Appendix
Appendix PATRIZIA | © 2021 13
Slide 14: Capital allocation
Appendix Capital allocation PATRIZIA's capital allocation as at 30 June 2021 Assets under Invested capital (fair Invested Management value) capital (at cost) Participations EUR m EUR m EUR m in % Third-party business 42,212.4 0.0 Co-Investments 5,954.6 522.8 89.6 Residential 5,351.6 507.7 77.5 Dawon
Slide 15: Reconciliation of operating income
Appendix Reconciliation of operating income Reconciliation of operating income EUR k H1 2021 H1 2020 EBITDA 60,282 72,511 Appreciation/amortisation of other intangible assets¹, software and rights of use, depreciation of property, plant and equipment as well as financial investments -17,331 -17,758
Slide 16: Consolidated income statement
Appendix Consolidated income statement EUR k Q2 2021 Q2 2020 H1 2021 H1 2020 Revenues 81,350 81,567 140,185 148,153 Changes in inventories 29 -133 1,746 -1,677 Other operating income 1,488 4,194 2,015 6,251 Income from the deconsolidation of subsidiaries 63 116 63 116 Total operating performance 82,
Slide 17: Consolidated balance sheet | Assets
Appendix Consolidated balance sheet | Assets Assets EUR k 30.06.2021 31.12.2020 A. Non-current assets Goodwill 214,957 212,353 Other intangible assets 98,876 106,137 Software 14,624 16,603 Rights of use 35,258 25,906 Investment property 1,838 1,838 Equipment 9,965 7,305 Associated companies accounte
Slide 18: Consolidated balance sheet | Equity and liabilities
Appendix Consolidated balance sheet | Equity and liabilities Equity and liabilities EUR k 30.06.2021 31.12.2020 A. Equity Share capital 89,348 89,683 Capital reserves 122,444 129,751 Retained earnings Legal reserves 505 505 Currency translation difference -802 -7,944 Remeasurements of defined benefi
Slide 19: Financial calendar
Appendix Financial calendar 2021 August 5 ➢ H1 2021 Financial Report with investor and analyst conference call October 14 ➢ Annual General Meeting, Augsburg (virtual) November 11 ➢ 9M 2021 Interim Statement with investor and analyst conference call 2022 February 24 ➢ Preliminary results FY 2021 Marc
Slide 20: Contact
Appendix Contact KARIM BOHN MARTIN PRAUM Member of the Senior Managing Director Management Board | CFO Head of Investor Relations PATRIZIA AG T +49 69 643505-1114 Fuggerstrasse 26 F +49 821 50910-399 86150 Augsburg M +49 151 19685445 Germany investor.relations@patrizia.ag VERENA SCHOPP DE ALVARENGA