Hyprop Investments Limited · JSE:HYP
Hyprop Investments — Corporate Update (May 2024)
26 slides from Hyprop Investments's corporate update, May 31, 2024
Slide 1: Pre-Close Operational Update
Pre-Close Operational Update five months ended 31 May 2024
Slide 2: Highlights
Highlights Good progress towards strategic initiatives Group South Africa Eastern Europe Sub-Saharan Africa Good operational performance Implemented acquisition of Table Good progress on the upgrade of Secured tenants for all the over the last few months; Bay Mall and completed the food court at CCO
Slide 3: Operational performance South Africa
Operational performance South Africa Canal Walk, Cape Town
Slide 4: South Africa operational performance metrics
Operational performance metrics South Africa – 12 months ended May 2024 Excluding Table Bay Mall 100 20,0% 18,0% 6.6% -10.6% 5.6% 80 16,0% 5.5% -12.4% 14,0% Other Metrics 11.2% 11.4% 11,4% Effort Ratio 60 11,2% 12,0% 9.9% 9,9% 8.8% 8,8% 8.7% 8,7% 10,0% 40 8,0% 12.5% 3.5% -2.8% 10.2% 4.4% 6,0% -5.4%
Slide 5: South Africa historical monthly comparison (excluding Table Bay Mall)
Operational performance metrics South Africa – Historical monthly comparison (Excluding Table Bay Mall) Tenant Turnover Trading Density 5,3% 4,5% 2 500 4,7% 4 000 2,8 3,2% 3,4% 3 500 2 000 3 000 R Millions 1 500 2 500 Rands 2 000 1 000 -0,5% 1 500 -2,0% -1,9% 1 000 500 -3,4% 2022 500 0 0 2023 Jan Fe
Slide 6: South Africa historical monthly comparison (Table Bay Mall)
Operational performance metrics South Africa – Historical monthly comparison (Table Bay Mall) Tenant Turnover Trading Density 15,0% 180 12,1% 3 500 8,7 11,5% 160 3 000 140 2 500 120 Rands 100 7,8% 2 000 Millions 6,3% 5,2% 5,2% 80 1 500 60 3,9% 1 000 2,7% 40 2022 20 500 0 0 2023 Jan Feb Mar Apr May J
Slide 7: Lease activity South Africa year to date
Lease activity South Africa year to date Table Bay Mall included from April 2024 Retail Office Total Renewal Reversion* Reversions (by GLA) (weighted average) (1.4%) (10.9%) (2.0%) 55% 60% *Renewal % of Portfolio GLA 10.0% 50% 45% 41% New Deal Reversion^ 37% 40% 34% 36% (weighted average) 30.6% 2.2%
Slide 8: Completed project: Woodlands Boulevard drive-throughs
Completed project Woodlands Boulevard, Drive-throughs – Chicken Licken, Burger King and Steers 8
Slide 9: Completed project: Woodlands Boulevard Woolworths extension
Completed project Woodlands Boulevard, Woolworths extension, with new W Café & W Cellar and The Fun Company Awaiting photo W cellar / W cafe 9
Slide 10: Completed project: Somerset Mall cinema
Completed project Somerset Mall, Cinema connect 10
Slide 11: Project in progress: Hyde Park Corner Offices
Project in progress Hyde Park Corner Offices, North Tower Workshop 17 11
Slide 12: Planned project: Somerset Mall expansion
Planned project Somerset Mall expansion 12
Slide 13: Operational performance Eastern Europe
Operational performance Eastern Europe City Center East, Croatia
Slide 14: Eastern Europe operational performance metrics
Operational performance metrics Eastern Europe – 12 months ended April 2024 70 20,0% 11.4% 18,0% 60 15.2% 16,0% 50 19.6% 14,0% -5.4% -11.3% 12,0% 40 Other Metrics Effort Ratio 10,9% 10,0% 10,8% 10,6% 30 9,7% 9,3% 8,0% -9.0% 14.9% 3.1% 20 6,0% 15.6% -23.5% 4,0% 10 -0.9% -14.0% 12.1% 15.6% 11.0% 2,0%
Slide 15: Eastern Europe historical monthly comparison
Operational performance metrics Eastern Europe – Historical monthly comparison * Delta City Podgorica & Belgrade Excluded Tenant Turnover Trading Density 60 350 0 11,3% 12,6% 300 0 7,8% 50 9,1% 250 0 40 200 € Millions 0 Euro 7,6% 6,0% 30 150 0 5,4% 4,3% 20 100 0 10 50 2022 0 0 00 2023 Jan Feb Mar Ap
Slide 16: Lease activity Eastern Europe year to date
Lease activity Eastern Europe year to date Retail Renewal Reversion* Reversions (by GLA) (weighted average) 2.7% 70% 14.0% 60% *Renewal % of Portfolio GLA 60% 53% 49% New Deal Reversion^ 50% (weighted average) 8.1% 42% 3.3% 40% ˄New Deal % of Portfolio GLA 30% Positive 30% 27% 21% Flat Renewal & New
Slide 17: Completed project: The Mall, Sofia
Completed project The Mall, Sofia New LED advertising digital screens & new slide connecting 1st floor to ground floor The Mall, Sofia 17
Slide 18: Completed project: Skopje City Mall
Completed project Skopje City Mall, North Macedonia New ATM zone, LED displays and downlighters and chandeliers 18
Slide 19: Project in progress: The Mall, Sofia
Project in progress The Mall, Sofia New staircase connecting food court to 1st floor to improve flow and access for ETC office workers. 19
Slide 20: Project in progress: City Center One West
Project in progress City Center One West, Zagreb, Croatia Food court extension 20
Slide 21: Operational performance Sub-Saharan Africa
Operational performance Sub-Saharan Africa West Hills Mall, Ghana
Slide 22: Sub-Saharan Africa historical monthly comparison
Operational performance metrics Sub-Saharan Africa – Historical monthly comparison *Tenant Turnover and Trading Density in US Dollars negatively impacted by depreciation of the Cedi Tenant Turnover* (US$) Trading Density* (US$) 9 21,3% 200 -6,0% 21,1% -3,9% 8 180 -5,1% 7 160 140 US Dollars 6 Million
Slide 23: Sub-Saharan Africa foot count and vacancy
Operational performance metrics Sub-Saharan Africa – Historical monthly comparison Foot Count (‘000) Vacancy 23,2% 23,0% 22,9% 22,5% 2 500 25% 17,9% 17,6% 17,2% 2022 2 000 20% 2023 12,0% 11,8% 11,6% 11,4% 11,3% 1 500 15% 2024 11,0% 10,8% Variance 7,3% 1 000 10% 2024 vs 6,5% 6,3% 6,1% 2023 2024 500 2
Slide 24: In closing
In closing
Slide 25: Purpose and priorities
Purpose and priorities How we do it Purpose Owning and managing dominant retail centres Creating spaces and connecting people in mixed-use precincts in key economic nodes in South Africa and Eastern Europe Group South Africa Eastern Europe Sub-Saharan Africa Start construction of the expansion, Secu
Slide 26: Investor Relations
Investor Relations Anne Dunn 082 448 2684 | anne@annedunn.co.za Woodlands Boulevard