Ca Immobilien Anlagen Ag · VIE:CAI
Ca Immobilien Anlagen — Q1 2024 Earnings Presentation
18 slides from Ca Immobilien Anlagen's earnings presentation, Mar 31, 2024
Slide 1: Q1 2024 Analyst & Investor Update
Q1 2024 ANALYST & INVESTOR UPDATE NCHMARKS: 3 se : | Ailes Saeco ss
Slide 2: Q1 2024 Key Highlights
Q1 2024 Results Solid Business Profile & Stable Operational Performance Q1 2024 Key Highlights • Increased annualized rental income by 4% yoy. • Like-for-like occupancy of c. 89% with a simultaneous average increase in rent levels for new contracts. • Sale of omniCon completed (incl. transfer of 78
Slide 3: P&L Overview
Q1 2024 Results P&L Overview Profit and Loss (€m) Q1 ‘24 Q1 ‘23 +/(-) Rental Income Bridge (€m)1 Rental income 64.0 61.7 3.7% 1 Net rental income 48.2 46.4 3.8% Other property development expenses (0.3) (0.5) (30.7%) 2 Property sales result 1 (0.3) 22.3 n.m. Income from services rendered 0.7 0.9 (16
Slide 4: FFO Overview
Q1 2024 Results FFO Overview Funds From Operations (€m) Q1 ‘24 Q1 ‘23 +/(-) FFO I Bridge (€m) Net rental income 48.2 46.4 3.8% Income from services 0.7 0.9 (16.1%) Other operating income/expenses excl. services 0.0 0.1 (84.6%) Other operating income/expenses 0.7 1.0 (25.9%) Indirect expenses (11.2)
Slide 5: Balance Sheet Overview
Q1 2024 Results Balance Sheet Overview Balance Sheet (€m) Q1 ‘24 Q4 ‘23 +/(-) Key Drivers Investment properties 4,702.5 4,743.4 (0.9%) 1 1 Investment Properties down at €4,703m due to Properties under development 409.5 344.1 19.0% reclassification of “Am Karlsbad 11” property in Berlin to Own-used p
Slide 6: Financial Profile
Financing Financial Profile Debt Maturity Profile (€m) Hedging Ratio Total Debt 900 92% €2,494m 800 €35.5m variable Schuldschein €175m bond tranches (5.7% Key Drivers 700 (1.875% coupon) coupon) repaid 2 repaid ▪ Transfer of construction financing for high-rise building 600 Already Hochhaus am Europ
Slide 7: Rendering: Potential development Hallesches Ufer, Berlin
Rendering: Potential development Hallesches Ufer, Berlin
Slide 8: Total Portfolio
Portfolio Overview Total Portfolio Total Portfolio (GAV) 2018 2019 2020 2021 2022 2023 Q1 2024 + / (-) Total Portfolio 1 €m 4,471 5,186 5,596 6,254 5,911 5,159 5,152 (0.1%) Investment Properties1 €m 3,760 4,299 4,729 4,995 4,979 4,754 4,713 (0.9%) Active Development Projects Under Construction €m 40
Slide 9: Investment Properties – KPIs (I)
Portfolio Overview Investment Properties – KPI‘s (I) Investment Properties1 2018 2019 2020 2021 2022 2023 Q1 2024 + / (-) Properties # 74 77 79 74 64 63 62 (1) Gross Leasing Area (GLA) ‘000 sqm 1,404 1,443 1,374 1,320 1,115 1,101 1,102 0.1% Gross Asset Value (GAV) €m 3,760 4,308 4,736 4,995 4,979 4,
Slide 10: Investment Properties – KPIs (II)
Portfolio Overview Investment Properties – KPI‘s (II) GLA (ksqm) Q1 ‘24 Q1 ‘23 +/(-) GAV (€m) Q1 ‘24 Q1 ‘23 +/(-) GAV (€psqm) Q1 ‘24 Q1 ‘23 +/(-) Austria 129 132 (2.6%) Austria 320 378 (15.2%) Austria 2,486 2,853 (12.9%) Czechia 142 148 (4.4%) Czechia 464 478 (3.0%) Czechia 3,274 3,227 1.5% Germany
Slide 11: Investment Properties – Leasing Overview Q1 2024
Portfolio Overview Investment Properties – Leasing Overview Q1 2024 Market New Leasing Renewal Total Leasing Total GRI p.a. Average Office + / (-) to WAULT to WAULT to WAULT to (sqm) (sqm) (sqm) (€m) Rent (€ psqm) ERV (%) Break (Yrs.) End (Yrs.) Last Ext. (Yrs.) Berlin - 2,784 2,784 1.4 41.0 7.9% 5.
Slide 12: Investment Properties – Like-for-Like Performance Q1 2024
Portfolio Overview Investment Properties – Like-for-Like Performance Q1 2024 Market Gross Asset Value (€m) Annualized Rent (€m) Gross Initial Yield (%) 1 SQM Occupancy (%) Q1 ‘24 Q1 ‘23 +/(-) Q1 ‘24 Q1 ‘23 +/(-) Q1 ‘24 Q1 ‘23 +/(-) Q1 ‘24 Q1 ‘23 +/(-) Austria 320.1 345.8 (7.4%) 21.0 19.2 9.4% 6.6 5.
Slide 13: Development Properties – Overview
Portfolio Overview Development Properties – Overview Book Value Book Value Outstanding Main CAI # Buildable Total Costs Gross Yield Pre-Leased / City incl. JV‘s excl. JV‘s Construction Use Ownership Assets GLA (sqm) (€m) on Cost (%) Sold (%) (€m) (€m) Costs (€m) Upbeat Berlin Office 100% 1 34,911 12
Slide 14: Closed Disposals & Select Pipeline Disposals
Capital Rotation Closed Disposals & Select Pipeline Disposals 2024 # Property City Stage Sector Closing CAI GLA Annualized Headline + / (-) Ownership (sqm)1 Rent (€m) Price (€m)2 Book Value3 1 Mariahilferstraße 17 Vienna Investment Property Mixed Use Q1 2024 100% 3,654 1.4 29.2 (9%) 2 AW Freimann -
Slide 15: Corporate Strategy
Appendix Corporate Strategy Entire Value Chain Urban Cities Pure Play Office Resilient Portfolio Solid Balance Sheet - Investment - Tier 1: Berlin, Munich - Technology - Balance of income, - Balance of secured/ Management - Prime inner-city - Specification occupancy, WAULT unsecured financing - Asse
Slide 16: Focus Areas
Appendix Focus Areas €582m disposals closed in 2023 and additional non-core Acceleration of non-core disposals disposals closed / signed / planned in 2024 1 Focus geographic footprint, divest JVs and outsource non- Simplify business model core operations 2 Increase economies of scale / core market a
Slide 17: Balance Sheet Metrics
Appendix Balance Sheet Metrics Balance Sheet (€m) Q1 ‘24 Q4 ‘23 +/(-) Total assets 6,045.9 6,221.8 (2.8%) Property assets 5,152.0 5,159.0 (0.1%) Cash and cash equivalents 499.9 663.5 (24.7%) Cash deposits 75.1 75.1 0.0% Shareholders‘ equity 2,741.6 2,724.6 0.6% Total debt 2,493.9 2,670.1 (6.6%) Net
Slide 18: Contact Details
Capital Markets/Investor Relations Contact Details Christoph Thurnberger Julian Wöhrle Group Head of Capital Markets & Corporate Office Deputy Head of Capital Markets Tel.: +43 (1) 532 59 07 504 Tel.: +49 89 54548 517 E-Mail: christoph.thurnberger@caimmo.com E-Mail: julian.woehrle@caimmo.de www.caim
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