Hamborner Reit Ag · XETR:HABA
Hamborner Reit — Investor Presentation (May 2020)
29 slides from Hamborner Reit's investor presentation, May 2020
Slide 1: Company presentation
Company presentation Dr. Rüdiger Mrotzek Hans Richard Schmitz May 2020
Slide 2: Agenda
Agenda 1 History / Capital markets track record 2 Portfolio-Management 3 Asset-Management 4 Financial Figures / Financial Position Company presentation | May 2020 2
Slide 3: Historical development of the company
History / Capital markets track record Historical development of the company 1953 Foundation of the company: HAMBORNER founded as a mining company Mining 1954 Listed on stock exchange as HAMBORNER Bergbau AG 1969 Integration of the mining activities into Ruhrkohle AG 1970 Continuation of HAMBORNER a
Slide 4: [R]eal [E]state [I]nvestment [T]rust
History / Capital markets track record [R]eal [E]state [I]nvestment [T]rust Requirements for G-REITs ▪ Listing on the regulated market ▪ at least 45 % equity-ratio ▪ > 15% free float ▪ > 75% of assets must be real estate assets ▪ > 75% of revenues must stem from real estate assets ▪ > 90% of net inc
Slide 5: Corporate structure HAMBORNER REIT AG
History / Capital markets track record Corporate structure HAMBORNER REIT AG 2 41 Board members Employees ▪ Directly owned property ▪ Internal asset & property management ▪ German-wide portfolio ▪ Only infrastructural building services and ▪ Market value of properties: € 1.6 billion center managemen
Slide 6: HAMBORNER share
History / Capital markets track record HAMBORNER share Development of share price and turnover (1 year) 30 April 2019 = 100% Number of shares 130% 600.000 120% 500.000 110% 400.000 100% 300.000 90% 200.000 80% 70% 100.000 60% 0 04.19 06.19 07.19 08.19 09.19 10.19 11.19 12.19 02.20 03.20 04.20 Turnov
Slide 7: Agenda
Agenda 1 History / Capital markets track record 2 Portfolio-Management 3 Asset-Management 4 Financial Figures / Financial Position Company presentation | May 2020 7
Slide 8: Portfolio structure: 81 properties, 60 cities, €1,638 million
Portfolio-Management Portfolio structure 81 Properties € 1,638 million Schleswig- Holstein Mecklenburg- 60 Cities Portfolio value Western Pomerania Bremen Annualised rental income Lower Saxony Berlin Saxony- Brandenburg Anhalt Office North Rhine-Westphalia Saxony Large-scale Thuringia Hesse retail 3
Slide 9: Portfolio Development
Portfolio-Management Portfolio Development Development of the HAMBORNER portfolio value (€ million) 1,638 1,546 1,517 1,363 1,115 900 692 717 580 504 376 281 308 273 179 177 186 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 May 2020 Company presentation | May 2020 9
Slide 10: Portfolio structure
Portfolio-Management Portfolio structure Portfolio split by property value Average value per asset (€ million) 31 December 2006 May 2020 (Number of properties = 81) 20.3 > € 10m 19.5 19.4 18.4 € 5-10m 4% 15% 16.2 100% = 54 properties 13.0 81% 10.5 < € 5m 9.6 8.4 May 2020 7.3 < €5m 6.1 11% 100% 21% €
Slide 11: Investments 2020
Portfolio-Management Investments 2020 Neu-Isenburg Bonn Aachen Siemensstrasse Soenneckenstrasse Gut-Dämme-Strasse Asset type Office Office Office Year of construction 2019 2019/2020 2019/2020 Main tenants UBL, Köster Barmer, Bonnfinanz Barmer Leased area 4,500 m2 6,200 m2 8,200 m2 Remaining lease te
Slide 12: Agenda
Agenda 1 History / Capital markets track record 2 Portfolio-Management 3 Asset-Management 4 Financial Figures / Financial Position Company presentation | May 2020 12
Slide 13: Rental situation
Asset-Management Rental situation Occupancy rates 98.2% 98.1% 97.5% 97.7% 98.1% 98.7% 98.6% 98.7% 98.7% 98.0% 98.4% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Q1 2020 → Vacancy rate as of 31 March 2020 (incl. rent guarantees): 1.6 % → Vacancy rate as of 31 March 2020 (excl. rent guarantees):
Slide 14: Long-term leases
Asset-Management Long-term leases Weighted average lease expiry by asset type (in years; as of 31 March 2020) Local supply 7.6 8.5 4.9 5.6 6.6 4.1 Office Large-scale High street Other Total retail retail retail portfolio Split of lease contracts expiring by year (% of annual rents; as of 31 March 20
Slide 15: Solid tenants
Asset-Management Solid tenants Top 10 tenants (as of 31 March 2020) Tenant Sector % annual rents* EDEKA Group Food retail 11.7% Kaufland Group Food retail 5.8% REWE Group Food retail 5.3% real,- Food retail 5.3% OBI DIY retail 4.9% Jobcenter Agency of unemployment 3.2% NetCologne Telecommunication 2
Slide 16: Agenda
Agenda 1 History / Capital markets track record 2 Portfolio-Management 3 Asset-Management 4 Financial Figures/Financial Position Company presentation | May 2020 16
Slide 17: Key figures Q1 2020
Financial Figures / Financial Position Key figures Q1 2020 Key figures Q1 2020 Q1 2019 Change Income from rents and leases € 21.8 million € 21.1 million +3.4% Rents like-for-like +0.2% -0.1% Operating result € 7.1 million € 7.4 million -4.8% Profit for the period € 3.3 million € 3.6 million -7.8% Fu
Slide 18: Cost structure
Financial Figures / Financial Position Cost structure Portfolio value and overhead cost margin* 2000 30% 2006 22.2% 1,598 1,638 25% 1517 1500 1363 20% 1115 1000 900 15% 692 717 580 10% 504 500 376 281 273 308 5% Q1 2020 7.4% 0 0% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Q1 20
Slide 19: Financial situation
Financial Figures / Financial Position Financial situation Expiration of financial liabilities (as of 31 March 2020) 2020 Refinancing/ Bonded loans 56.5 % Repayment Ø interest rate: 1.5% REIT Equity ratio completed Ø maturity: 3.3 years 42.0 % LTV €762.8m 1.6% Financial liabilities* 21.6% 1.98 % 8.2
Slide 20: FFO and dividend per share
Financial Figures / Financial Position FFO and dividend per share Funds From Operations (FFO) (1) Calculation of FFO per share with outstanding shares at the respective time 79.7 79.7 79.7 79.7 2x CI 54,3 CI 52,7 62.0 44,7 50.0 CI 36,1 45.5 45.5 45.5 CI Capital increase CI 29,2 34.1 34.1 24,6 # shar
Slide 21: Current business situation
Financial Figures / Financial Position Current business situation ▪ Successful first quarter 2020 with positive business development ▪ Uncertainty regarding further impact of global coronavirus pandemic ▪ Forecast 2020 withdrawn ▪ Postponement of AGM scheduled for 6 May 2020 ▪ Amount of dividend pay
Slide 22: Current business situation: rental payments April and May 2020
Financial Figures / Financial Position Current business situation Rental payments April and May 2020 (as of 12 May 2020) Received Provisional rent rent payments suspensions/reductions Main sectors approx. 130 tenants (16.4%) 86.4% 11.4% Retail 7.5% Textile & footwear 1.1% Furniture April Total rents
Slide 23: Outlook
Financial Figures / Financial Position Outlook ▪ Despite challenging market conditions HAMBORNER well positioned based on its risk-diversified asset and tenant structure ▪ Comfortable financial situation with current liquidity of around € 75 million ▪ 2020 refinancing successfully completed / Curren
Slide 24: Many thanks for your attention! Financial Calendar
Financial Calendar HAMBORNER REIT AG - Financial Calendar Half-year financial report H1 2020 30 July 2020 Quarterly financial statement Q3 2020 11 November 2020 Preliminary figures 2020 4 February 2021 Annual report 2020 17 March 2021 Quarterly financial statement Q1 2021 27 April 2021 Many thanks f
Slide 25: TOP 10 Properties (1/2)
Appendix TOP 10 Properties (1/2) Mannheim Munich Berlin Cologne Lübeck Kurpfalz Center NuOffice EUREF Campus O3 Haerder Center Asset type Retail Office Office Office High Street Year of acquisition 2016 2013 2013 2017 2016 Purchase price € 80.0 million € 40.1 million € 33.0 million € 48.9 million €4
Slide 26: TOP 10 Properties (2/2)
Appendix TOP 10 Properties (2/2) Hallstadt Hanau Darmstadt Karlsruhe Celle Market Oberfranken Rondo Steinheim Asset type Retail Retail/office Retail/Office Retail Retail Year of acquisition 2017 2018 2012 2015 2017 Purchase price € 41.4 million € 42.8 million € 37.0 million € 35.2 million € 37.5 mil
Slide 27: Consumer purchasing behaviour in Germany
Appendix Consumer purchasing behaviour in Germany Share of eCommerce in retail sales 26,1% consumer electronics 28.8% 31.0% 23.5% fashion & accessoires 23.5% 25.6% 22.7% sports & hobby 24.4% 26.4% 19.8% office & stationery 21.6% 22.6% 14.8% jewellery & watches 16.2% 18.1% 10.7% furniture & interior
Slide 28: Contact
Contact Niclas Karoff CEO @ n.karoff@hamborner.de Hans Richard Schmitz COO/CFO @ h.schmitz@hamborner.de Christoph Heitmann Head of Investor Relations & Public Relations @ c.heitmann@hamborner.de +49 (0)203 / 54405-32 Company presentation | May 2020 28
Slide 29: Disclaimer
Disclaimer This presentation was exclusively prepared for the addresses specified on the title page and/or the participants at the mentioned event. The information in this presentation is based on both public information and documents as well as information which was made available to HAMBORNER REIT