Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España Real Estate SOCIMI — 9M 2017 Earnings Presentation
25 slides from Helios Re Socimi's earnings presentation, Nov 15, 2017
Slide 1: 9M 2017 Results
9M 2017 www.larespana.com Results Nov 2017 15th November, 2017 9M 2017 Results - Lar España Real Estate Txingudi Shopping Centre, Guipuzcoa
Slide 2: Disclaimer
Disclaimer This document has been prepared by Lar España Real Estate SOCIMI, S.A. (the “Company”) for information purposes only and it is not a regulated information or information which has been subject to prior registration or control by the Spanish Securities Market Commission. This document neit
Slide 3: Agenda
Agenda 01 02 03 04 9M 2017 9M 2017 Corporate Closing Highlights Financial Activity Remarks Results & towards Business Growth and Performance Value Creation 9M 2017 Results - Lar España Real Estate
Slide 4: Successful & Strong Key Facts delivered in 9M 2017
4 Successful & Strong Key Facts delivered in 9M 2017 +19% vs 1,429 Mn GAV 1 Q3 2016 +70% vs EPRA NAV 79.7 Mn EBT pre-perfornance fee 9M 2016 €9.51 EPRA NAV 880.2 per share (€ Mn) Rental +36% vs EPRA EPRA 57.2 Mn Income 9M 2016 5.9% “topped-up” NIY 5.7% Net Initial Yield +13% over last EPRA 32.5 Mn D
Slide 5: 9M 2017 Highlights
1 9M 2017 Highlights 9M 2017 Results Vidanova - Lar España Real Parc Development, Estate Sagunto
Slide 6: Solid business performance & successful start of asset rotation process
6 Solid business performance & successful start of asset rotation process €79.7 Mn EBT (Net Profit) +70% vs 9M 2016 €57.2 Mn Revenues +36% vs 9M 2016 €26.4 Mn Adjusted EPRA Earnings +38% vs 9M 2016 01 Solid 9M 2017 Results and Balance Sheet €880.2 Mn EPRA NAV €9.51 p.s. 37% Net LTV; 577.3 Mn Gross D
Slide 7: Portfolio at a glance
7 Portfolio at a glance GAV (€Bn) GLA 882,852 EPRA Annualized Net Rent (€Mn) +25% increase vs Q3 2016 Logistics Residential 5% 8% Logistics Offices 6% 5% Offices 11% Retail Dev €1.431 €72.12 5% Retail 87% Retail 73% EPRA Topped-up NIY Occupancy Rate 7.1% 100.0% 94.7%3 TOTAL 94.6% 3 5.9% 5.9%3 TOTAL
Slide 8: 9M Financial Results
2 9M Financial Results 9M 2017 Results - Lar España Real Estate Alovera IV, Guadalajara
Slide 9: Consolidated Income Statement (Millions of €)
9 Consolidated Income Statement (Millions of €) Recurrent 9M 2017 9M 2016 9M17/9M16 Recurring Non-Recurring Total1 Recurring Non-Recurring Total1 Rental Income 57.2 - 57.2 +35.5% 42.2 - 42.2 Other income 1.6 - 1.6 1.3 - 1.3 Property Operating Expenses (9.6) - (9.6) (7.4) - (7.4) Base Fee (6.8) - (6.
Slide 10: New financings year to date allow releasing of resources to fund new and existing projects
10 5 new financings year to date allows for releasing of resources to fund new and existing projects €139 Mn of operating assets financing @ avge fixed rate < 2% and €64 Mn of development credit2 @ Euribor 3m + 2.34% € Mn Euribor 3m+ 2.10% 203 Euribor 3m+ 2.5% 25 Fixed Cost 39 Avge cost of 1.80% Eur
Slide 11: Debt structure and cost aimed at delivering value on the business plan
11 Debt structure and cost aimed at delivering value on the business plan Key Figures of the financing Back-loaded Amortization Profile €577.3 Mn € Mn €140 Mn Senior Secured Bond €437.3 Mn Bank Debt 447.7 37% Net Loan to Value (LTV) 140 307.7 77.9 35.6 9.7 1.2 5.2 Avg. Cost of Debt 2.19% 1 Year 2 Ye
Slide 12: Retail operating trends keep up with a very strong quarter
12 Retail operating trends keep up with a very strong quarter Lar España is outperforming the market Letting activity at the core of the strategy Sales 2017 Visits 2017 75 €451.5 Mn 41.9 Mn Operations Lar España Retail Sales Lar 12,805 sqm 3,726 sqm Spain España Retail +2.7% Average Footfall3 Renova
Slide 13: Retail operating trends keep up with a very strong quarter
13 Retail operating trends keep up with a very strong quarter All figures refer to 9m period Rental growth Top 10 retailer’s LfL Occupancy LfL NOI Mall Income +1.2p.p +4% +4% from renewal & +19.6% +21.7% comparable rate growth growth growth relettings sales growth Positive evolution of footfall thro
Slide 14: Adding value to Office assets & enhancing stability of logistics
14 Adding value to Office assets & enhancing stability of logistics Offices Logistics +27.1% +31.6% Revaluation Revaluation since Acq since Acq Leasing activity 100% occupancy maintained in all our logistics assets New 1,572 sqm leasing to Giorgio Armani in Egeo Contract renewals: Marcelo
Slide 15: Corporate activity towards growth and value creation
3 Corporate activity towards growth and value creation Palmas Altas Retail Development, Seville 9M 2017 Results - Lar España Real Estate
Slide 16: Megapark Leisure Area acquisition to capture further synergies
16 Megapark Leisure Area acquisition to capture further synergies The acquisition of the Leisure Megapark is the dominant shopping Excellent tenant line-up and Area complements Megapark’s centre in the area, with 10.6 Mn visitors upside potential through active previous acquisition of the Retail in
Slide 17: Asset Rotation kicks off with the accretive sale of Arturo Soria
17 Asset Rotation kicks off with the accretive sale of Arturo Soria Location GLA 13% revaluation over the last appraisal in June, through the Madrid 8,663 sqm implementation of active management in these 3 years and capex Acquisition Price Acquisition Date invested. € 24.2 Mn 31 – July – 2014 Fu
Slide 18: Vidanova Parc obtains a €24Mn development credit
18 Vidanova Parc obtains a €24Mn development credit to accomplish its construction and start operations on H1 2018 Lar España has signed a credit for Vidanova Parc will have an area of Vidanova Parc is a strategic asset due to construction for €24 Mn for the 44,252 Sqm GLA. The total PLOT its locati
Slide 19: Palmas Altas has set its "first stone" with excellent prospects
19 Palmas Altas has set its “first stone” with excellent prospects Optimal mix of family leisure and fashion Mar 2016 Acquisition of a plot c.200 premises of land in Seville 14 Mn visits/year Excellent location 4 km from Seville’s centre Works licenses High footfall in area: 1.5 million in
Slide 20: Lagasca99 to further capture value on the thriving residential market
20 Lagasca99 to further capture value on the thriving residential market Q2 2018 Financing of 100% Estimated delivery date of construction costs agreed Construction works on schedule Façade and interior carpentry works started In process High interest from national and international investors Price
Slide 21: Innovation strategy – TES Project
21 Innovation strategy – TES Project Disruptive projects differentiating among our competitors Big Data Full Conectivity Market Knowledge Market Place WEBS CUSTOMER APPS SEEKETING SYSTEM TRANSACTIONAL WEB DIGITALIZATION & INTELLIGENCE WIFI E-BEACONS DIFFERENTIATION SOCIAL MEDIA Geoblink Territorio L
Slide 22: Closing Remarks
4 Closing Remarks 9M 2017 Results - Lar España Real Estate Txingudi Shopping Centre, Guipuzcoa
Slide 23: Closing Remarks
23 Closing Remarks +38% of EPRA Earnings YoY shows the contribution of the new assets & the improvement in the existing portfolio Active Management and current market environment supports further retail NOI growth (+4%) in the medium term Solid underlying business trend reflected in both tenant sale
Slide 24: Lar España APP
24 Lar España APP Get full information of the company on Lar España App for iPhone, iPad and Android devices 9M 2017 Results - Lar España Real Estate
Slide 25: 9M 2017 Results - Lar España Real Estate
9M 2017 Results - Lar España Real Estate
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