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Patrizia — PATRIZIA Immobilien — FY2017 Earnings Presentation

23 slides from Patrizia's earnings presentation, Mar 15, 2018

  1. Slide 1: FY 2017 Results Presentation

    PATRIZIA The global provider of European real estate FY 2017 Results Presentation 15 March 2018 PATRIZIA Immobilien AG PATRIZIA Bürohaus | Fuggerstrasse 26 | 86150 Augsburg | T +49 821 50910-000 | F +49 821 50910-999 | immobilien@patrizia.ag | www.patrizia.ag

  2. Slide 2: 2017 was outstanding in terms of organic and inorganic performance

    2017 was outstanding in terms of organic and inorganic performance HIGHLIGHTS ASSETS UNDER MANAGEMENT (in EUR billion) 40 slightly  AUM growth of EUR 2.2bn organic vs. target of >40.0 EUR 2.0bn; total AUM growth of EUR 3.3bn including acquisition of SPI 21.9  Operating income up 13.8% from EUR 72.

  3. Slide 3: Strong performance fees result in outperformance of guidance

    Strong performance fees result in outperformance of guidance OPERATING INCOME OF EUR 82.2M INCOME BRIDGE  Actual result significantly exceeds initial (in EUR million) guidance (EUR 60.0-75.0m) and revised forecast (slightly above EUR 75.0m) 41.7  Superior returns achieved for investors lead 39.0 6

  4. Slide 4: 2017 results confirm sustainable earnings growth

    2017 results confirm sustainable earnings growth Third-party business Fees − Opex Management income +12.1% Regulated funds Single asset mandates 108.8  Institutional investors 97.0  Private investors  Co-investments 2016 2017 Return on Equity investments equity − Opex Investment income Co-investm

  5. Slide 5: Pan-European platform drives diversified income streams

    Pan-European platform drives diversified income streams STEADILY GROWING MANAGEMENT FEES MANAGEMENT FEES (in EUR million)  Management fees up 18.7% excluding or 170.0 4.7% including property management fees* — 162.5  Progressive increase in management fees 93.2 78.5 demonstrates the reliability an

  6. Slide 6: PATRIZIA consistently shows strong deal sourcing capabilities

    PATRIZIA consistently shows strong deal sourcing capabilities TRANSACTION FEES OF EUR 51.8M TRANSACTION VOLUME (in EUR billion) 7.2  Transactions worth EUR 6.0bn completed in 6.0 2017, an increase of 17.2% on 2016 Ø EUR 4.8 3.0 5.1 6.5 5.1bn 0.5 4.1 2.5 — 1.9  EUR 3.5bn acquisitions and EUR 2.5bn

  7. Slide 7: Performance fees emphasise PATRIZIA's track record

    Performance fees emphasise PATRIZIA’s track record SUPERIOR RETURNS FOR INVESTORS TRANSLATE INTO ATTRACTIVE PERFORMANCE FEES  Performance fees of EUR 66.9m in 2017 emphasise PATRIZIA’s asset management capabilities and investment track record (weighted average IRR of 18.6%)  Investment funds gener

  8. Slide 8: PATRIZIA continues to be well positioned for further growth

    PATRIZIA continues to be well positioned for further growth  Strong balance sheet ratios and capital structure to facilitate further profitable growth  Total available liquidity amounts to EUR 576m as at 31.12.2017; including the acquisition of Rockspring (closing expected end of Q1/18), still amp

  9. Slide 9: For 2018, operating income of EUR 85.0m to EUR 100.0m expected

    For 2018, operating income of EUR 85.0m to EUR 100.0m expected ASSUMPTIONS INCOME BRIDGE (in EUR million)  Consolidation of TRIUVA as at 1 January; Rockspring to contribute roughly three quarters 39.0 70.0 — -230.0  Organic growth in AUM between EUR 2.0bn 62.5 50.0 — and EUR 3.0bn — -210.0 55.0 

  10. Slide 10: PATRIZIA's strategic bridge to the future

    PATRIZIA’s strategic bridge to the future ASSETS UNDER MANAGEMENT (in EUR billion) VISION  Deploy cash Completed transformation Realise M&A to the global provider of  PATRIZIA – European real estate >50 the leading global provider 38.7 of European  Continue European expansion  Broaden product po

  11. Slide 11: PATRIZIA – Investment Highlights

    PATRIZIA – Investment Highlights 1 Leading listed European real estate investment firm 2 Broad institutional client base and strong fundraising momentum – globally 3 High quality services across the entire property value chain 4 Excellent track record in sought after European property investment mar

  12. Slide 12: Appendix

    Appendix PATRIZIA Immobilien AG| © 2018 12

  13. Slide 13: Reconciliation of Operating Income

    Reconciliation of Operating Income EUR thousand 2017 20161 EBITDA 95,788 56,236 Amortisation of other intangible assets2 and software, -8,681 -6,134 depreciation of equipment EBIT 87,107 50,102 Finance income/expenses -4,232 -2,523 Result from currency translation -2,747 -5,644 EBT 80,128 41,935 2 +

  14. Slide 14: Consolidated Income Statement FY 2017

    Consolidated Income Statement FY 2017 EUR thousand 2017 2016* Revenues 249,574 325,417 Income from the sale of investment property 691 1,542 Changes in inventories -39,909 -115,133 Other operating income 17,294 9,903 Income from the deconsolidation of subsidiaries 1 5,187 Total operating performance

  15. Slide 15: Consolidated Statement of Financial Position – Assets

    Consolidated Statement of Financial Position – Assets ASSETS EUR thousand 31.12.2017 31.12.2016 A. Non-current assets Goodwill 7,366 610 Other intangible assets 35,224 35,416 Software 11,207 10,772 Investment property 15,979 12,226 Equipment 4,483 4,460 Participations in associated companies 88,905

  16. Slide 16: Consolidated Statement of Financial Position – Equity and Liabilities

    Consolidated Statement of Financial Position – Equity and Liabilities EQUITY AND LIABILITIES EUR thousand 31.12.2017 31.12.2016 A. Equity Share capital 89,555 83,956 Capital reserves 129,545 184,005 Retained earnings Legal reserves 505 505 Non-controlling interests 1,691 1,691 Currency translation d

  17. Slide 17: Acquisition #1: SPI – Closing of transaction on 12 October 2017

    Acquisition #1: SPI – Closing of transaction on 12 October 2017 Property Investors KEY FACTS COMPANY BASED IN COPENHAGEN WITH GLOBAL REACH 1 11 3 12 years of experience across the World within real estate fund of Office Employees Continents funds INVESTORS NORDIC INSTITUTIONAL INVESTOR BASE 9 of the

  18. Slide 18: Acquisition #2: TRIUVA – Closing of transaction on 1 January 2018

    Acquisition #2: TRIUVA – Closing of transaction on 1 January 2018 KEY FACTS COMPANY EUROPEAN PLATFORM More than 40 years of experience across Europe within real estate 11 15 Countries Offices INVESTORS POWERFUL INSTITUTIONAL INVESTOR BASE More than 80 German speaking institutional investors and succ

  19. Slide 19: Acquisition #3: Rockspring – Closing expected end of Q1 2018

    Acquisition #3: Rockspring – Closing expected end of Q1 2018 KEY FACTS COMPANY LONDON HEADQUARTER AND EUROPEAN PLATFORM 7 110 7 More than 30 years of experience across Europe within real estate Offices Employees Countries INVESTORS GLOBAL INSTITUTIONAL INVESTOR BASE 32% of investors outside Europe,

  20. Slide 20: Following the acquisitions, PATRIZIA doubles AUM to EUR 39bn

    Following the acquisitions, PATRIZIA doubles AUM to EUR 39bn Combined Assets under Management (EUR bn) TOTAL AUM TOTAL AUM 20.8 20.8 9.8 7.0 1.1 38.7 100% LEGEND Germany 15.3 6.8 2.4 0.2 24.7 64% x UK & Ireland 1.1 0.5 2.4 4.1 11% x x BY France 0.4 0.1 0.9 1.4 4% x COUNTRY Netherlands 1.2 0.2 0.2 1.

  21. Slide 21: Acquisitions provide access to new investors, markets and products

    Acquisitions provide access to new investors, markets and products Key additions to PATRIZIA INVESTOR BASE MARKET COVERAGE PRODUCTS Strengthening existing investor Supporting coverage European Expanding product coverage to base in DACH region markets and new offices in adjacent infrastructure asset

  22. Slide 22: Financial Calendar

    Financial Calendar 2018 March 15  Financial Statements 2017 May 9  Quarterly Statement for the first quarter of 2018 June 20  Annual General Meeting, Augsburg August 7  Interim Report for the first half of 2018 November 14  Quarterly Statement for the first nine months of 2018 Conference calls

  23. Slide 23: Contact

    Contact KARIM BOHN MARTIN PRAUM CFO GROUP HEAD OF IR PATRIZIA Immobilien AG T +49 821 50910-402 PATRIZIA Bürohaus F +49 821 50910-399 Fuggerstrasse 26 M +49 151 19685445 86150 Augsburg martin.praum@patrizia.ag Germany VERENA SCHOPP DE LAURA WANZL ALVARENGA MANAGER IR MANAGER IR T +49 821 50910-347 T

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