Corestate Capital Holding Sa · XETR:CCAP

Corestate Capital Holding Sa — Corporate Update (April 2023)

16 slides from Corestate Capital Holding Sa's corporate update, Apr 13, 2023

  1. Slide 1: Investor Update 13 April 2023

    INVESTOR UPDATE 13 APRIL 2023

  2. Slide 2: Disclaimer

    DISCLAIMER Any actual financial information not specifically identified herein is not to be considered a forecast or guidance but should be considered as objectives. This presentation contains forward-looking statements that are subject to various risks and uncertainties. Such statements are based o

  3. Slide 3: Agenda

    AGENDA 1. Executive Summary 2. Strategic direction 3. Preliminary business plan 4. Restructuring update 3

  4. Slide 4: Update on Bond Restructuring

    UPDATE ON BOND RESTRUCTURING ▪ Given the unavailability of audited financial statements for 2022 and the inability to prepare securities prospectuses on this basis, CCHSA will consider an alternative restructuring concept (“Alternative Concept”) that can be implemented regardless of the availability

  5. Slide 5: Update on Business Strategy

    UPDATE ON BUSINESS STRATEGY ▪ Corestate management has conducted a strategic review and updated its preliminary business plan ▪ The revised business strategy deviates in part significantly from the previous business strategy and is based on two strategic pillars identified resulting into a new opera

  6. Slide 6: Agenda

    AGENDA 1. Executive Summary 2. Strategic direction 3. Preliminary business plan 4. Restructuring update 6

  7. Slide 7: New Target Operating Model with 2 Main Dimensions – Core & Non-core Group

    NEW TARGET OPERATING MODEL WITH 2 MAIN DIMENSIONS – CORE & NON-CORE GROUP Simplified operating model Core Group Non-core Group Focus on asset disposals Equity business and Corestate Bank Managed for cash Managed to create equity value (revenue and EBITDA growth) No new business assumed Envisaged tra

  8. Slide 8: Agenda

    AGENDA 1. Executive Summary 2. Strategic direction 3. Preliminary business plan 4. Restructuring update 8

  9. Slide 9: Preliminary Business Plan: Key Assumptions

    PRELIMINARY BUSINESS PLAN: KEY ASSUMPTIONS ▪ Preliminary business plan is primarily based on the following core drivers: − A medium-term growth path for the Core Group, underpinned by assumed AUM growth in the Hannover Leasing and STAM boutiques without cash requirements for co-investments / warehou

  10. Slide 10: Corestate Group: Return to Profitability in the Mid-term Targeted

    CORESTATE GROUP: RETURN TO PROFITABILITY IN THE MID-TERM TARGETED Business Plan KPIs (Corestate Group) in m€ 2022FC Mid-term objective Assumptions: Aggregated Revenues 1) 69.8 ~90 ▪ Total Aggregated Revenues growth to ~90m€ in the mid- term is driven by growth in Core Group Expenses 304.7 ~65 ▪ Retu

  11. Slide 11: Core Group: Ambition to Turn into a >20m€ EBITDA Business in the Mid-term

    CORE GROUP: AMBITION TO TURN INTO A >20M€ EBITDA BUSINESS IN THE MID-TERM Business Plan KPIs (Core Group) in m€ 2022FC Mid-term objective Assumptions: Aggregated Revenues 1) 64.9 ~90 ▪ Growth in Aggregated Revenues to ~90m€ in the mid-term is driven by all boutiques in Core Group Expenses 147.7 ~65

  12. Slide 12: Non-core Group: Managed for Cash Rather than P&L

    NON-CORE GROUP: MANAGED FOR CASH RATHER THAN P&L Business Plan KPIs (Non-core Group) in m€ 2022FC Mid-term objective Assumptions: Aggregated Revenues 1) 4.9 ~0 ▪ Non-core Group is managed for cash generation ▪ Decrease in Aggregated Revenues due to fading contribution Expenses 157.1 ~0 of Corestate

  13. Slide 13: Non-core Cash Flow to Cover 135m€ New Notes – Core Group Offers Equity Upside

    NON-CORE CASH FLOW TO COVER 135M€ NEW NOTES – CORE GROUP OFFERS EQUITY UPSIDE FOR SHAREHOLDERS Non-core Group (mid-term) Core Group (mid-term) (in m€) 8% (in m€) 3% Associates & JVs Inventory 31% 18% 204m€ Bridge Loans Other Financial Assets 22% 18% Non-curr. receiv. CPFs Can be covered with cash at

  14. Slide 14: Liquidity Status Dependent on Add. Bridge Instruments and Timing of Asset Disposals

    LIQUIDITY STATUS DEPENDENT ON ADD. BRIDGE INSTRU- MENTS AND TIMING OF ASSET DISPOSALS / ONE-OFFS 2023 direct cash flow forecast (free liquidity 1)2) in m€ 13-week forecast 60 50 Bank balances 35.9 3 40 32.1 30 -20.2 (Temporarily) trapped / restricted cash 2 20 1 10 15.8 - CW14 CW15 CW16 CW17 CW18 CW

  15. Slide 15: Agenda

    AGENDA 1. Executive Summary 2. Strategic direction 3. Preliminary business plan 4. Restructuring update 15

  16. Slide 16: Update on Restructuring Process

    UPDATE ON RESTRUCTURING PROCESS Key short-term objectives Completion of 1 restructuring Agreement on Alternative Concept to be achieved between stakeholders in April 2023 negotiations Funding of additional 2 Funding of additional bridge financing to be provided in May 2023 bridge financing Restructu

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