Hamborner Reit Ag · XETR:HABA
Hamborner Reit — Investor Presentation (August 2024)
40 slides from Hamborner Reit's investor presentation, August 2024
Slide 1: Company Presentation August 2024
Company Presentation August 2024 Office property Ingolstadt
Slide 2: Agenda
1 HAMBORNER at a glance 2 Portfolio Overview 3 Asset/Property Management 4 Financials 5 Sustainability/ESG 6 Appendix Bürogebäude Ratingen
Slide 3: HAMBORNER at a glance
HAMBORNER at a glance Office property ‚Nu-Office‘ Munich
Slide 4: Company profile
Company profile History Company profile ▪ Public commercial property company 1953 Foundation of HAMBORNER ▪ Profitable and diversified German-wide property portfolio ▪ Two-pillar portfolio structure with focus on food-anchored retail and office Listing on stock exchange properties 1954 ▪ Stable and
Slide 5: The HAMBORNER Share
The HAMBORNER Share The HAMBORNER Share Shareholder structure Current share price €6.52 (as of 30 June 2024) Market capitalisation €530.4m (as of 30 June 2024) 12.20% RAG Foundation WKN/ISIN A3H233 / DE000A3H2333 Ticker symbol HABA 81,343,348 6.30% BlackRock shares Class of shares Registered Share E
Slide 6: Portfolio Overview
Portfolio Overview Office property Münster
Slide 7: Portfolio Strategy – Target Structure
Portfolio Strategy – Target Structure Retail Portfolio Office Portfolio Manage-to-core properties Manage-to-core properties with 10-20% 10-20% with value-add potential value-add potential Maintaining/extension of core 80-90 % Maintaining/extension of core 80-90% retail portfolio with focus on 80-90%
Slide 8: Portfolio Management Approach
Portfolio Management Approach ▪ Retail Asset classes ▪ Office ▪ Core Risk profile ▪ Manage-to-core ▪ > €10m (retail) Lot size ▪ > €20m (office) ▪ Focus on core investments ▪ Addition of selected manage-to-core properties with larger asset management need (refurbishment, reletting, repositioning etc.
Slide 9: Geographical Portfolio Structure
Geographical Portfolio Structure Geographical Focus (Metropolitan Regions in Germany) Portfolio by Metropolitan Regions (as of 30 June 2024; in % of portfolio value) Metropolitan Region Share of portfolio volume 1 Rhine-Ruhr 21.4% 8 2 Frankfurt Rhine-Main 12.8% 10 9 3 Berlin-Brandenburg 9.4% 3 4 Nur
Slide 10: Portfolio development
Portfolio development 2.000 50 Portfolio value and average property value Comments ▪ Continuous value-adding portfolio growth 1,589 1,625 1,604 1,609 since conversion into a G-REIT in 2010 1,517 40 1.500 1,471 1,463 ▪ Average annual growth rate of 10.7% 1,363 over the last 10 years ▪ Average propert
Slide 11: Portfolio valuation
Portfolio valuation Portfolio development full-year 2023 Comments ▪ Value development influenced by property Retail Portfolio Office Portfolio Transactions (Like-for-like) (Like-for-like) transactions (+€24.8m) and -10.5% decrease of like- Portfolio value for-like portfolio value (-€169.6m) €1,608.6
Slide 12: Portfolio key metrics as of 30 June 2024
Portfolio key metrics as of 30 June 2024 Asset class Total portfolio Investment approach Retail % Office % Split Core % Manage-to-Core1 % Number of properties 39 28 67 64 95.5% 3 4.5% Fair Value €832.8m 56.9 €630.5m 43.1% €1,463.2m €1,419.9m 97.0% €43.3m 3.0% Leased area 393,250 m² 63.1% 229,703 m²
Slide 13: Rent development
Rent development Development of annualized rents (year-on-year)1 +€1.9m +€0.7m €90.5m +0.8% +€1.6m €86.3m +2.2% +1.9% Annualized rents Acquisitions Indexation Re-lettings/ Annualized rents 30 June 2023 Vacancy change 30 June 2024 Rent development like-for-like (year-on-year)1 Asset class Total portf
Slide 14: Asset/Property Management
Asset/Property Management Retail property ‚Rondo Steinheim‘ Hanau
Slide 15: Tenant base
Tenant base Top-10 tenants (as of 30 June 2024) Sector distribution (as of 30 June 2024) Tenant Sector Rent1 Sector Rent1 EDEKA Group Food retail 13.6% Food 33.1% Kaufland Group Food retail 7.1% DIY 11.4% REWE Group Food retail / DIY 6.9% IT / Communication 9.7% OBI DIY 6.6% Finance / Insurance 7.2%
Slide 16: Leasing situation
Leasing situation Weighted average lease expiry (as of 30 June 2024) Letting result H1 2024 24,633 m² 20,661 m² 38% 29% 7.4 years 6.1 years 71% 62% 3,972 m² 4.5 years 85% 15% New lettings Contract extensions Total Retail Office Total Retail Office 30,0% Lease expiry schedule (as of 30 June 2024; in
Slide 17: Financials
Financials Office property/Medical center Regensburg
Slide 18: Key figures H1 2024
Key figures H1 2024 Key figures 30 June 2024 30 June 2023 Change Profit and loss statement Income from rents and leases1 €46.7m €44.8m +4.1% Operating result €13.7m €3.4m n/a Profit for the period €7.6m -€2.2m n/a Key operational KPIs Funds from Operations (FFO) €28.3m €28.1m +0.7% Funds from Operat
Slide 19: Funds from operations (FFO)
Funds from operations (FFO) in k€ H1 2024 H1 20231 Change Comments 1 Income from rents and leases 46,650 44,814 +4.1% ▪1 Increase in income from rents and leases Income from passed on costs 6,449 6,532 -1.3% mainly due to property additions and indexation effects. Operating expenses -10,660 -10,662
Slide 20: EPRA NAV & NTA
EPRA NAV & NTA NAV & NTA development 2024 +€ 28.3m -€39.0m € 814.9m -€7.8m -€3.6m € 792.8m -€0.3m € 792.5m NAV FFO Dividend Like-for-like Other effects NAV Intangible NTA 31 Dec 2023 Revaluation 30 June 2024 Assets 30 June 2024 NAV/share NAV/share NTA/share -2.7% € 10.02 € 9.75 € 9.74 Financials | 2
Slide 21: Financial situation
Financial situation Expiration of financial liabilites (as of 30 June 2024) 54.1% REIT equity ratio 2024 2025 Refinancing 45.1% LTV completed 9.8x Net debt / EBITDA1 19.6% 5.6x 15.5% EBITDA / Interest coverage 13.2% 12.3% 11.8% 9.1% 7.3% €692.0m Financial liabilites 2.5% 3.1% 1.9% 0.0% 1.8% 1.9% Q3
Slide 22: Outlook
Outlook Full-year guidance 2024 Main influencing factors + Stable and reliable cashflows - Increasing cost effects in H2 2024 €91.0m - €92.5m - Maintenance expenses (incl. cost shifting from 2023) Rental income + Property additions 2023 - Operating expenses (incl. implementation of strategic + Furth
Slide 23: Sustainability / ESG
Sustainability / ESG Office property Neu-Isenburg
Slide 24: ESG organization
ESG organization Supervisory Board Internal Sustainability Management ▪ Advising and monitoring ▪ Sustainability Committee Supervisory Management Board consisting of Management Board Management Sustainbility & of Management Board Board members and the ESG Officers Board ESG ESG Committee from indivi
Slide 25: ESG strategy
ESG strategy Strategic development and guidelines Key Action Areas ▪ Integration of sustainability/ESG criteria into overall strategy ▪ Implementation of strategic sustainability programme ▪ Planning and controlling of sustainability activities by internal sustainability Corporate Environmental comm
Slide 26: Decarbonisation strategy | CO2e-balance
Decarbonisation strategy | CO2e-balance CO2e-balance for base year 2021 Share of emission sources in the CO2e-balance in tCO2e 42,130 0.5% 28,747 11.0% 7,109 4,415 4,242 16.7% 2,867 4,484 1,820 71.8% 69 38 10 0 131 8 69 0 199 Direct Energy Services, Energy Mobility Tenant Total energy supply materia
Slide 27: Decarbonisation target and milestones
Decarbonisation strategy | Decarbonisation target and milestones Level Scope Target 2030 Target 2045 -50.0% to 28.2 kgCO2e/m2 Reduction of energy related emissions Portfolio Energy related1 Net Zero Greenhouse gas emissions Total Corporate balance The Net Zero targets are associated with a small a
Slide 28: Decarbonisation pathway
Decarbonisation strategy | Decarbonisation pathway Milestones along CRREM decarbonisation pathway1 70 Scope 1, 2, 3 energy related 60 Scope 3 other 50 CRREM V.2, 2°C (cross-portfolio) kgCO2e/m² 40 30 20 10 - BASE YEAR 56.4 TARGET 28.2 -50% 2021 kgCO2e/m² 2030 kgCO2 e/m² BASE YEAR 62.9 TARGET 1.8 -97
Slide 29: Areas of action and cost indication
Decarbonisation strategy | Areas of action and cost indication Cost indication for property and building maintenance Areas of action to reduce emissions Maintenance expenses Modernisation of technical building systems €0.0 – 0.1m €1.0m – €1.5m Ø €1.2m – €1.5m p.a.€1.0m 1 – €1.5m €1.5 – 1.8m Expansio
Slide 30: ESG Ratings
ESG Ratings Company Rating 2021 2022 2023 Sustainability Best Practice No Award No Award Recommondation DVFA Scorecard 58,43 % (sufficient) 75,73 % (good) for Corporate Governance Public Disclosure B B A (93%) Corporate Rating 28,23 (D+) 39,45 (C-) 39,44 (C-) QualityScore (E/S/G)1 5/5/2 5/6/1 6/6/1
Slide 31: Appendix
Appendix Retail Lengerich
Slide 32: Top-10 properties (1/2)
Top-10 properties (1/2) Mannheim Munich Cologne Berlin Karlsruhe Asset type Retail Office Office Office Retail Year of 2016 2013 2017 2013 2012 acquisition Purchase price €80.0m €40.2m €49.0m €33.0m €37.0m Fair value1 €76.0m €63.0m €56.1m €59.1m €52.8m Annual rents €4.1m €2.9m €2.9m €2.9m €3.0m WALT
Slide 33: Top-10 properties (2/2)
Top-10 properties (2/2) Hanau Celle Hallstadt Aachen Tübingen Asset type Retail Retail Retail Office Retail Year of 2017 2015 2017 2020 2012 acquisition Purchase price €37.5m €35.2m €40.4m €37.4m €22.2m Fair value1 €44.6m €40.1m €39.4m €39.3m €33.5m Annual rents €2.3m €2.1m €2.6m €2.3m €1.8m WALT(1)
Slide 34: Portfolio Rotation
Portfolio Rotation Transactions since strategy update in July 20201 Implementation of adjusted strategy 24 disposals since strategy update in Portfolio as of 30 June 2020 Portfolio as of 30 June 2024 2020 Assets 83 Assets 67 Total sales volume of €200.6 with 3.7% Portfolio Volume €1,631m Portfolio V
Slide 35: Main requirements for G-REITs
Real Estate Investment Trust (REIT) Main requirements for G-REITs stock exchange > 15% < 10% > 45% > 75% > 75% > 90% listing Free float directly held Equity ratio of assets of earnings payout of profit shares per invested from (German GAAP) shareholder in properties property management Exemption fro
Slide 36: Acquisitions 2023
Acquisitions 2023 Hanau Offenburg Hanau Offenburg Asset type Retail Retail Investment approach Core Core Year of construction 1997 (refurbished 2017) 2017 Leased area 4,100 m2 13,900 m2 WALT1 12.5 years 7.8 years Offenburg Occupancy rate1 100% 100% Annual rental income1 ~€0.4m ~€1.2m Purchase price
Slide 37: Letting success Q4 2023
Letting success Q4 2023 Lease renewals OBI DIY stores Aachen Leipzig Hilden Lease area ~11,400 m² Lease area ~11,100 m² Lease area ~10,800 m² Extension +10 years Extension +10 years Extension +5 years Duration 2037 Duration 2034 Duration 2034 Asset/Property Management | 37
Slide 38: Financial Calendar
Financial Calendar Quarterly financial statement Q3 2024 7 November 2024 Annual Report 2024 17 April 2025 Provisional figures 2024 25 February 2025 Quarterly financial statement Q1 2025 31 March 2025 Appendix | 38
Slide 39: Contact
Contact Niclas Karoff Sarah Verheyen CEO/CFO COO/CIO E-Mail: n.karoff@hamborner.de E-Mail: s.verheyen@hamborner.de Christoph Heitmann HAMBORNER REIT AG Datei:LinkedIn logo initials.png Head of Investor Relations, www.hamborner.de Financing & Corporate Communications info@ir.hamborner.de +49 (0)203/5
Slide 40: Disclaimer
This presentation has been prepared and/or issued by HAMBORNER REIT AG (hereinafter "HAMBORNER") solely for information purposes. This presentation may contain statements, assumptions, opinions and predictions about the anticipated future development of HAMBORNER ("forward-looking statements") that