Ca Immobilien Anlagen Ag · VIE:CAI

Ca Immobilien Anlagen — Q2 2016 Earnings Presentation

36 slides from Ca Immobilien Anlagen's earnings presentation, Aug 25, 2016

  1. Slide 1: 2Q 2016 Results Analyst and Investor Update

    2Q 2016 RESULTS ANALYST AND INVESTOR UPDATE August 25, 2016

  2. Slide 2: Profit and Loss

    Profit and Loss Strong First Half 2016 Following a Record Result Last Year €m 1H 16 1H 15 yoy 2Q 16 2Q 15 yoy Rental income 2Q 2016 EARNINGS DRIVER 81.3 68.8 18.3% 41.1 34.1 20.8% Net rental income (NRI) 72.1 60.5 19.2% 36.9 29.3 25.8%  Net rental income increased by a significant 26% Result from h

  3. Slide 3: Funds from Operations (FFO)

    Funds from Operations (FFO) 1H 2016 FFO I per Share € 0.46 (+21% yoy) €m 1H 2016 1H 2015 yoy 2Q 16 2Q 15 yoy 2Q 2016 EARNINGS DRIVER Net rental income (NRI) 72.1 60.5 19.2% 36.9 29.3 25.8% Result from hotel operations 0.0 0.3 n.m. 0.0 0.3 n.m.  Net rental income increased by a significant 26% Incom

  4. Slide 4: Funds from Operations (FFO)

    Funds from Operations (FFO) Extremely Robust Operational Development Drives Dividend CONTINUOUSLY INCREASING RECURRING EARNINGS POWER 2Q 16 FFO I PER SHARE (YOY) 1H 16 FFO I PER SHARE (YOY)  1H 2016 FFO per share of € 0.46 up 21% yoy 0.26 +49% 0.50 +21% 0.24 0.45  Extremely robust operational deve

  5. Slide 5: Balance Sheet as at June 30, 2016

    Balance Sheet as at June 30, 2016 Robust Balance Sheet Structure solid Basis for Growth €m 30.06.2016 31.12.2015 +/- BALANCE SHEET Investment properties 2,760.4 2,714.3 1.7% Properties under development 443.7 409.0 8.5%  Rock solid balance sheet metrics comfortably within strategic target range des

  6. Slide 6: Balance Sheet as at June 30, 2016

    Balance Sheet as at June 30, 2016 Solid Financial Ratios BALANCE SHEET RISING RECURRING PROFITABILITY 35 2.8 3.0  Equity ratio 51.7% 2.5 30 2.2 2.5  Conservative loan-to-value ratio (net debt to property assets) of 37.1% 2.0 25 2.0 1.4  Gearing 57.5% 20 1.5  Moody‘s investment grade rating (Baa2

  7. Slide 7: Net Asset Value (NAV)

    Net Asset Value (NAV) Positive NAV - Development Reflects Value Enhancing Strategy STRONG NAV GROWTH MOMENTUM EPRA NAV PER SHARE (YTD) EPRA NAV PER SHARE (YOY) 26.0 26.0 +17%  EPRA NAV per share at balance sheet date € 25.68 +6% (31.12.2015: € 24.32) 25.0 25.5  Strong uplift since beginning of the

  8. Slide 8: Net Asset Value (NAV)

    Net Asset Value (NAV) EPRA NAV per Share € 25.68 € m (diluted = undiluted) 30.06.2016 31.12.2015 NAV (IFRS equity) 2,153.5 2,120.5 Exercise of options 0.0 0.0 NAV after exercise of options 2,153.5 2,120.5 NAV per share 22.58 21.90 Value adjustment for* Own use properties 5.7 5.1 Properties held as c

  9. Slide 9: Financing

    Financing Debt Profile FINANCING STRUCTURE DEBT MATURITY PROFILE* 800 723  Average debt maturity 4.3 years Corporate bond 2006-2016 due in 700 September 2016 (€ 186 m, 5.125%)  Unsecured debt 600  Fully covered by corporate bond issuances 325  Corporate bond 2006-2016 (€ 186 m, 5.125%) 500 in 20

  10. Slide 10: Financing

    Financing Average Cost of Funding 2.8% Outstanding debt Nominal  Cost of debt  Cost of debt  Debt  Swap €m nominal value value swaps excl. derivatives incl. derivatives maturity maturity Austria 158.3 35.7 2.6% 2.6% 6.1 8.0 Germany 452.9 94.0 1.7% 2.2% 5.5 2.5 Czech Republic 119.7 54.4 1.6% 2.5%

  11. Slide 11: Portfolio

    wae CA IMMO URBAN BENCHMARKS. PORTFOLIO

  12. Slide 12: Property Portfolio (€ 3.7 bn)

    Property Portfolio (€ 3.7 bn)* Germany Accounts for  45% of Portfolio Value PORTFOLIO STRUCTURE PORTFOLIO SPLIT BY REGION AND COUNTRY (€ M)  Total property asset base of € 3.7 bn  Germany largest single core market 7% 604.3 16% 8% 16%  Income- producing investment portfolio of Austria 1,424.9 7%

  13. Slide 13: Investment Portfolio (€ 3.1 bn)

    Investment Portfolio (€ 3.1 bn) High-quality Asset Base in Key Economic Centres of Central Europe KEY METRICS* 30.06.2016 31.12.2015 PORTFOLIO OCCUPANCY Gross initial yield 6.4% 6.5% 93% 92.7% Austria 5.6% 5.7% 93% 92.3% 92.2% Germany 92.1% 5.2% 5.3% 92% CEE 7.4% 7.6% 92% 91.3% Occupancy 92.3% 92.7%

  14. Slide 14: Development

    wae CA IMMO URBAN BENCHMARKS. DEVELOPMENT

  15. Slide 15: Development: Well Positioned For Future Organic Growth

    Development Well Positioned For Future Organic Growth Tower 185, Frankfurt Tour Total, Berlin STRONG TRACK RECORD OF VALUE CREATION  Among Top 3 office developers in Germany with strong track record of blue chip tenant projects  Highly valuable land reserves in inner-city locations  Average renta

  16. Slide 16: Strategy: Major Office Player in Germany

    Strategy Major Office Player in Germany with Proven Track Record DEVELOPMENT ANCHOR TENANTS LAND RESERVES 30 30 9% 9% 91 27% 121 36% CEE 97 Frankfurt 310 Germany 28% 91% Berlin CEE Munich DEVELOPMENT TRACK RECORD (VOLUME OF  1.7 BN OVER LAST SIX YEARS) Completed… 196 Volume per year 68 542 €1,7bn 5

  17. Slide 17: Significant Embedded Value of German Landbank

    Development Significant Embedded Value of German Landbank DEVELOPMENT PIPELINE GERMANY DEVELOPMENT POTENTIAL ( € 2 BN)  Existing landbank reserves (fair value  € 300 m) offer the  € 2 bn potential to realize  0.8 m sqm of new space at a fair 0.4 BER value of  € 2 bn 0.1 DUS  Landbank developm

  18. Slide 18: Berlin - Europacity

    Development Berlin - Europacity 18

  19. Slide 19: Berlin - Europacity

    Development Berlin - Europacity 19

  20. Slide 20: Berlin - Cube

    Development Berlin - Cube PROJECT IN PREPARATION STAGE  Prime office property development  Outstanding Europacity location between Central Station and German Chancellery   19.500 sqm gross floor area All figures (€ m) as at 30 June 2016, unless otherwise stated 20

  21. Slide 21: Berlin - Baufeld 03/KPMG

    Development Berlin - Baufeld 03/KPMG PROJECT UNDER CONSTRUCTION  Phase 1 (100% pre-let to KPMG)  Planned lettable area 12,700 sqm  Total investment volume (incl. plot) € 56 m  Outstanding construction costs  € 36 m  Expected yield on cost  5.8%  Construction phase 4Q 2015 - 2Q 2018  Phase 2

  22. Slide 22: Berlin - Rieck I / Rieck II

    Development Berlin – Rieck I / Rieck II RIECK I (IN PREPARATION STAGE) RIECK II (IN PREPARATION STAGE)  Main usage office  Main usage office  Total investment volume (incl. plot)  € 35 m  Total investment volume (incl. plot)  € 65 m  Planned lettable area 9,500 sqm  Planned lettable area 17,

  23. Slide 23: Frankfurt

    Development Frankfurt = CA IMMO CA IMMO Investment Properties Meininger Hotel Bd Shopping center Skyline Plaza Tower 185 Multy-storey car park + Seco pangeee Mannheimer- Strae HE CAIMMO-Projects under construction/ J Plot sold in preparation © CA IMMO Land reserve ‘Tower ONE BD Steigenberger Hotel ©

  24. Slide 24: Frankfurt - Mannheimer Straße

    Development Frankfurt - Mannheimer Straße PROJECT UNDER CONSTRUCTION*  Main usage hotel  Total investment volume (incl. plot) € 54 m  Outstanding construction costs  € 45 m  Planned lettable area 17,200 sqm  Yield on cost  6.6%  Pre-letting-ratio : 94% (Steigenberger)  Construction phase 2Q

  25. Slide 25: Frankfurt - Tower

    Development Frankfurt – Tower 1 PROJECT IN PREPARATION STAGE  Mixed use hotel/office high-rise  Height  180 m   80.000 sqm gross floor area  Plot neighboring Tower 185 (Europaviertel)  Development envisaged in joint venture All figures (€ m) as at 30 June 2016, unless otherwise stated 25

  26. Slide 26: Mainz - Zollhafen

    Development Mainz - Zollhafen Rheinallee III ZOLLHAFEN MAINZ  Joint venture with Stadtwerke Mainz  Mixed/use development site of around 30 ha (realisation of approx. 355,000 sqm GFA in several phases  Rheinallee III (under construction)  Forward sale to Aberdeen Asset Management (€ 66 m)  Renta

  27. Slide 27: Property Portfolio Munich

    Property Portfolio Munich 27

  28. Slide 28: Munich - MY.O

    Development Munich – MY.O PROJECT IN PREPARATION STAGE  Expansion of investment portfolio in Munich by a fourth high- quality office building (lettable area 26,500 sqm)  Located in the western part of Munich (Schlossviertel Nymphenburg neighbourhood) with good public transport connections (along S

  29. Slide 29: Munich - Baumkirchen

    Development Munich - Baumkirchen PROJECT UNDER CONSTRUCTION PHASE 1 PHASE 2  Residential project  Development and sale of freehold flats  50/50 joint venture with Patrizia  525 apartments , thereof 425 sold  Investment volume c. € 130 m (CA Immo share)  Phase 1 completed, Phase 2/3 under const

  30. Slide 30: Vienna - ViE Office

    Development Vienna – ViE Office PROJECT UNDER CONSTRUCTION  Office investment portfolio expansion in core market Vienna  Investment volume  € 38 m  Rentable area 14,700 sqm  Construction phase  Expected yield on cost 6.2%  Excellent location between Vienna airport and city centre Project Sued

  31. Slide 31: Vienna - Laende Residential Projects

    Development Vienna - Laende 3 Residential Projects Project Nord 2 Project Nord 2 RESIDENTIAL PROJECTS UNDER CONSTRUCTION  Project Nord 2 ( 18,400 sqm)  Joint venture with Austrian residential expert JP Immobilien  Investment volume c. € 60 m; 270 apartments  Planned completion 3Q 2018  Project

  32. Slide 32: Bucharest - Orchideea

    Development Bucharest - Orchideea PROJECT UNDER CONSTRUCTION  Expansion of office investment portfolio in Bucharest  Monetization of a prime plot with excellent public transport connections in the western part of the city  Lettable area 36,900 sqm  Investment volume approx. € 74 m (incl. plot) 

  33. Slide 33: High-quality Development Pipeline Major Growth Driver

    Development High-quality Development Pipeline Major Growth Driver Planned Investment Oustanding Gross yield Main Pre-letting Construction INVESTMENT PORTFOLIO rentable Share volume* investment on cost usage ratio phase area KPMG, Berlin 56 36 12,700 5.8% Office 100% 100% 3Q 15 – 2Q 18 Mannheimer Str

  34. Slide 34: CA Immo and Immofinanz

    wae CA IMMO URBAN BENCHMARKS. CA IMMO AND IMMOFINANZ

  35. Slide 35: CA Immo and Immofinanz: Sequence Of Events

    CA Immo and Immofinanz Sequence Of Events STEP 1: ACQUISITION OF 26% IN CA IMMO KEY TRANSACTION PARAMETERS  O1 sold 26% stake in CA Immo to Immofinanz  Fair and transparent process  Transaction closed on August 2, 2016   Pre- and post-merger corporate governance that conforms to international c

  36. Slide 36: Investor Relations

    Investor Relations Contact Details Christoph Thurnberger Claudia Höbart Head of Capital Markets Investor Relations / Capital Markets Tel.: +43 (1) 532 59 07 504 Tel.: +43 (1) 532 59 07 502 E-Mail: christoph.thurnberger@caimmo.com E-Mail: claudia.hoebart@caimmo.com www.caimmo.com/investor_relations/

CA Immobilien Anlagen — Q2 2016 Earnings Presentation on 6ix