European Residential Real Estate Invt Tr
European Residential Real Estate Invt Tr — European Residential Real Estate Investment Trust — Q3 2024 Earnings Presentation
13 slides from European Residential Real Estate Invt Tr's earnings presentation, Nov 7, 2023
Slide 1: Canada's only European-focused multi-residential REIT
Canada’s only European-focused multi-residential REIT Third Quarter 2024 Conference Call 1 | THIRD QUARTER CONFERENCE CALL
Slide 2: Disclaimer
Disclaimer This presentation and our answers to questions in today’s session may contain forward-looking information within the meaning of applicable securities laws. Forward-looking information may relate to the REIT’s future outlook and anticipated events or results. These statements are based on
Slide 3: Presenters
Presenters • President, CEO and Trustee at CAPREIT Mark Kenney • CAPREIT since 1998 CEO and Trustee • Director on Board of REALPAC • Former Board member & Chair of the Fed. of Rental Housing Providers of Ontario • Former founding Board member of the Greater Toronto Apartment Association • Vice Presi
Slide 4: Strong Operational Performance
Strong Operational Performance 95.1% €1,150 €1,100 ERES has consistently €1,050 achieved strong growth in AMR, even within the continuously €1,000 changing regulatory framework. €950 ERES has intentionally decreased occupancy during €900 the period, pursuant to its value maximization strategy. €850
Slide 5: Third Quarter Update
Third Quarter Update Business Update • On September 16, 2024, the REIT announced that it has entered into two separate agreements to sell a total of 3,179 residential suites in the Netherlands for approximately €738.61 million. • So far this year to date, the REIT has closed on two dispositions of a
Slide 6: Financial Performance
Financial Performance Jenny Chou Chief Financial Officer 6 | THIRD QUARTER CONFERENCE CALL
Slide 7: Third Quarter Financial Results
Third Quarter Financial Results Same Property Same Property Same Property Occupancy AMR Growth NOI 96.1% +8.0% +2.1% Same Property FFO per Unit AFFO Payout NOI Margin (diluted) Ratio 76.7% -4.8% 79.6% 7 | THIRD QUARTER CONFERENCE CALL
Slide 8: Nine Months 2024 Financial Results
Nine Months 2024 Financial Results Nine Months Ended September 30, 2024 2023 %∆ Operating Revenues (000s) €72,327 €70,967 1.9% Net Operating Income (NOI) (000s) €56,847 €55,626 2.2% NOI Margin1 78.6% 78.4% 0.2% Funds From Operations (FFO) €27,779 €28,705 3.2% FFO per Unit (Diluted) €0.119 €0.123 3.3
Slide 9: Financial Position and Liquidity
Financial Position and Liquidity 60% 57% 58% 58% 57% 53% 56% 54% €89 51% €55 €43 €37 €30 ERES actively €21 €28 €29 manages leverage and Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 coverage ratios Available Liquidity (€M) Ratio of Adjusted Debt to Market Value of Portfolio Covenant to ensure comp
Slide 10: Mortgage Renewal (€)
Staggered Mortgage Renewal Profile Weighted Average Mortgage Term of 2.2 Years 4.75% 400 3.29% 2.00% 2.08% Nearly all of ERES’s 300 1.70% Mortgage Renewal (€) 1.15% 1.46% mortgages are financed with terms and 200 arrangements that result in fixed interest 100 219.6 210.5 payments, mitigating 176.6 1
Slide 11: Closing Remarks
Closing Remarks Mark Kenney Chief Executive Officer 11 | THIRD QUARTER CONFERENCE CALL
Slide 12: Maximizing Returns for Unitholders
Maximizing Returns for Unitholders Value Maximization Income Growth Capital Optimization Turnover Indexation Conversion Suite Property Portfolio Other Strategic Suite Reletting Program Strategic Disposition Program Opportunities 12 | THIRD QUARTER CONFERENCE CALL
Slide 13: Contact Us
Contact Us European Residential REIT 11 Church Street, Suite 401 Toronto, Ontario M5E 1W1 Canada m.kenney@capreit.net j.chou@capreit.net www.eresreit.com 13 | THIRD QUARTER CONFERENCE CALL
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