Irish Residential Properties Reit Plc · EURONEXT:IRES
Irish Residential Properties Reit — Davy & Peel Hunt Ireland & UK Equity Conference (January 2021)
14 slides from Irish Residential Properties Reit's conference presentation, Jan 7, 2021
Slide 1: Irish Residential Properties REIT plc
Better living made simple Irish Residential Properties REIT plc Building Communities and Creating Value Davy & Peel Hunt Ireland & UK Equity Conference
Slide 2: Agenda
Agenda • Who We Are • Resilient Operating Performance and Robust Balance Sheet • Modern and Resilient Asset Base Supporting Strong Performance • Response to Covid Pandemic • Macro Economic Backdrop • Demand Drivers Underpinning Investment Case • Ireland has successfully attracted FDI for over 20 yea
Slide 3: I RES REIT – Who We Are
I RES REIT – Who We Are Attractive Portfolio • Ireland’s largest private residential landlord, with 3,683 apartments / houses across 35 properties Delivering Long-term Secure Returns • c. 98% occupancy rate • Modern portfolio, average age of 11 years, with capital allocation focused on growth • Gros
Slide 4: Resilient Operating Performance and Robust Balance Sheet
Resilient Operating Performance and Robust Balance Sheet Net Rental Income (€m) Occupancy Net Rental Margin +39% 50.5 99.8% 81.2% 81.3% 81.4% 79.2% 98.7% 98.3% 97.9% 41.2 +30% 36.3 29.6 FY17 FY18 FY19 H120 FY17 FY18 FY19 H120 FY17 FY18 FY19 H120 Number of Units Gross Yield at Fair Value (%) NAV per
Slide 5: Modern and Resilient Asset Base Supporting Strong Performance
Modern and Resilient Asset Base Supporting Strong Performance Distribution by Split Distribution by Properties by Distribution by of Bedrooms1 Average Monthly Rent1 Location1 Age (Years)1 1% 1% 5% 14% 1% 8% 25% 29% 3% 36% 40% 5% 56% 22% 62% 12% 33% 2% 6% 3939 % % 1 Bed 2 Bed €1,000 to €1,500 €1,500
Slide 6: Response to Covid-19 Pandemic
Response to Covid-19 Pandemic • The Company and the Manager responded swiftly to Covid-19, initiating the business continuity and crisis management plans • Our priority has always been ensuring the health and wellbeing of our employees, partners, residents, tenants and suppliers • The quality of the
Slide 7: Macro Economic Backdrop
Macro Economic Backdrop Economic Indicators Ireland has seen one of the shallowest contractions in GDP in 2020 across the OECD3 2019 2020 2021 8% 4% GDP1 5.6% 3.4% 4.9% 0% Consumer Spending1 3.2% -9.0% 11.7% -4% Unemployment rate1 5.0% 18.4% 14.5% -8% Housing Completions2 21,000 17,500 22 – 27k 2020
Slide 8: Demand Drivers Underpinning Investment Case
Demand Drivers Underpinning Investment Case Irish Population growth forecast1 Composition of Annual Demand1 6,000 40 5,500 30 5 5 11 5 5,000 11 20 Thousands 11 4,500 10 18 17 4,000 11 0 3,500 2020-2029 2030-2039 2040-2051 1996 2000 2005 2010 2015 2020 2025 2030 2035 Natural increase Migration Obsole
Slide 9: Ireland has Successfully Attracted FDI for Over 20 Years
Ireland has Successfully Attracted FDI for Over 20 Years Ireland is home to many of the world’s leading high-performance companies 14/15 8/10 TOP 5 10/10 18/25 Top medical tech Top industrial Global software Top pharma companies Top financial services companies automation companies companies compani
Slide 10: Continued Growth of the IRES Portfolio in 2020
Continued Growth of the IRES Portfolio in 2020 Investment activity continued through 2020 – 168 units added and disposition of 151 smaller fragmented holdings Waterside Hansfield II Disposition Phoenix Park Racecourse See overleaf See overleaf Process Forward Purchase Forward Purchase Disposition Ac
Slide 11: Acquisition of 146 Units at Castleknock, Dublin 15
Acquisition of 146 Units at Castleknock, Dublin 15 • Purchase Price: €60 million • Unit Split: 20 x one-bed; 113 x two-bed; 13 x three-bed; the mix includes apartments, duplexes, penthouses & houses. • Scheme Breakdown: 120 units built between 2002 – 2007 (BER B3) and 26 units built between 2019-202
Slide 12: Disposal of Non-Core Portfolio of 151 Apartments
Disposal of Non-Core Portfolio of 151 Apartments Unit Breakdown (by beds) • Disposal of 151 residential units, 3 commercial units and a development site across 10 high quality schemes 1% 8% • The sales price of €48m (net of costs) achieved following a competitive sales process 16% 75% • The objectiv
Slide 13: Key Investment Attractions
Key Investment Attractions Why the Irish Multifamily Sector Favourable Economic Population Structural fundamentals Yields on Demographics Housing Supply and Multifamily and Trend / Demand Government Assets Remain Towards Smaller Imbalance Stimulus for Attractive Households Covid-19 Why IRES REIT Att
Slide 14: Thank you for your time
Better living made simple Thank you for your time For more information please visit https://investorrelations.iresreit.ie/