Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España Real Estate SOCIMI — Investor Presentation (September 2023)
31 slides from Helios Re Socimi's investor presentation, September 2023
Slide 1: Corporate presentation
Corporate presentation September 2023
Slide 2: Index
Index 1 Company Overview 2 1H2023 Results 3 Final remarks 2 Corporate presentation
Slide 3: Company Overview
_——_ Pi... The REIT for thenew retail w rid Company Overview
Slide 4: Leaders in the retail segment
Corporate presentation Leaders in the retail segment Lar España's mission is to lead the retail real estate industry thanks to the size of its portfolio, the quality of its assets and the efficiency of its management model. The constant improvement in these three objectives allows it, in turn, to al
Slide 5: With a differential business model
Corporate presentation With a differential business model Dominant shopping centres in catchment areas Omnichannel strategy Our assets are located in relevant but low retail We see e-commerce as an opportunity not a risk. It is a new hybrid density areas, with limited competition around and form of
Slide 6: We have not stopped excelling
Corporate presentation We have not stopped excelling Acquisition of Megapark, Lagasca 99 residential Covid-19 pandemic, Lagoh opening Amortization of the €400 Mn IPO El Rosal, As Termas and delivery proving portfolio Acquisition of Senior Secured Bond logistic warehouse Eroski portfolio and Sale of
Slide 7: Creating a value-added REIT
Corporate presentation Creating a value-added REIT Our Mission To provide our customers with unique shopping experiences by combining 121 100% leisure and retail through an omnichannel approach. Assets Ownership of the assets Our Vission To lead the industry based on the size of our portfolio, the q
Slide 8: A clear idea: dominant & resilient portfolio
Corporate presentation A clear idea: dominant & resilient portfolio Lagoh | SC Gran Vía de Vigo | SC Portal de la Marina | SC El Rosal | SC 69,734 sqm 41,447 sqm 40,334 sqm 50,996 sqm Visits: 5.4 Mn Visits: 4.8 Mn Visits: 2.5 Mn Visits: 3.6 Mn Sales: €94.7 Mn Sales: €81.3 Mn Sales: €65.9 Mn Sales: 8
Slide 9: Meeting the highest standards
Corporate presentation Meeting the highest standards >300K Occuppancy Leader in catchment Refurbished/ > 4 Inditex Shopping centers Asset class GLA >40K sqm inhabitants >4 Million visits Food anchored BREEAM >90% area developed last 5y flags catchment area Lagoh Dominant Gran Vía de Vigo Dominant Po
Slide 10: Becoming the retail leader in our markets
Corporate presentation Becoming the retail leader in our markets RETAIL LEADERS IN SPAIN RETAIL LEADERS IN OUR MARKET #1 sqm GLA MARKET Asset stake owned LAR ESPAÑA AVERAGE2 in Spain Retail parks owned GRI vs 1H 2022 +16.4% +3.7% Present in all the attractive regions of the Spanish territory NOI vs
Slide 11: Committed with transparency, environment and governance
Corporate presentation Committed with transparency, environment and governance Board of Directors EPRA Gold Award Financial Reporting José Luis Alec Roger M. Isabel Leticia Miguel 2015 2016 2017 2018 2019 2020 2021 2022 del Vale Emmott Cooke Aguilera Iglesias Pereda Chairman Vice Chairman 5 Independ
Slide 12: And committed with top experienced management: Grupo Lar
Corporate presentation And committed with top experienced management: Grupo Lar Investment Management Agreement ➢ Grupo Lar owns a 10.12% in Lar España Key figures ➢ Stability shareholding ➢ Reliable manager and partner 54 years in a row 250 ➢ Solid management team ➢ Strong financial structure as le
Slide 13: 1H 2023 Results
_——_ Pi... The REIT for thenew retail w rid 1H 2023 Results
Slide 14: Reality kills the perception of the retail sector
Corporate presentation Reality kills the perception of the retail sector It has been proven that the Thanks to the quality of our assets and a good active management, our business has been always resilient despite market conditions. e-pocallypse never affected prime assets, omni-channeling has preva
Slide 15: 1H 2023 strong set of results
Corporate presentation 1H 2023 strong set of results €33.5 Mn +25.6% €47.2 Mn 3.4x EBITDA vs 1H 22 EPRA EARNINGS vs 1H 22 €10.76 p.s. +6.0%1 €1,465.3 Mn -0.3% vs 1H 22 GAV vs June 22 EPRA NTA PER SHARE 1 Taking into account the dividend distributed in Q2 2023 15 1H2023 Results
Slide 16: With a solid financial profile
Corporate presentation with a solid financial profile BBB 1 NET FINANCIAL DEBT 2 NET LTV 3 AVERAGE COST OF DEBT €558.2 Mn 38.1% 1.8% 4 AVERAGE DEBT MATURITY 5 GREEN, FIXED RATE AND UNENCUMBERED 6 SOLID CASH POSITION 4.3 years 100% c. €95 Mn 16 1H2023 Results
Slide 17: Recognized again by Fitch: BBB confirmed
Corporate presentation that has been recognized again by Fitch Maintenance of a high occupancy rate of 96% Affordability of rents again confirms Lar España’s BBB Rapid normalisation of rent collection after the pandemic investment grade rating and stable outlook because of… Higher spending per visit
Slide 18: Successful Bond buy-back program
Corporate presentation Successful Bond-buy-back program Key transaction terms Sources and uses Strong bondholder demand Implied discount achieved on Sources €mm resulting in a successful bond repurchase of 18% Cash from Balance Sheet 1Q 2023 90.5 transaction for Lar España’s Cash from Balance Sheet
Slide 19: Paying one of the highest ordinary dividends in our history
Corporate presentation Paying one of the highest ordinary dividends in our history Since our foundation, we have distributed a total of CAGR >€325 Mn 2014-2022 57.81%1 € 0.80 ps 14.2% Div Yield1 €75.0 Mn € 0.63 ps € 0.49 ps € 0.60 ps € 25 Mn2 €55.0 Mn €50.0 Mn € 0.33 ps €45.0 Mn € 0.36 ps € 0.31 ps
Slide 20: Stable valuations
Corporate presentation Stable valuations 30th June 2023 Valuation €1,465.3 Mn Asset appraisal variations Valuation evolution vs European +53.2% peers1 June 2023 vs December 2022 Lar España -0.5% Peer 1 -2.9% Peer 2 -2.3% -0.3% -0.5% Peer 3 -3.4% Peer 4 -2.3% Since Jun 2022 Since Dec 2022 Since Acqui
Slide 21: Successful asset rotation policy
Corporate presentation From the very beginning, we have been pursuing a successful asset rotation policy… 5.2% 87.5% Average Avg. Exit revaluation Yield over acq price Logistics Egeo Sale Joan Miró Eloy Gonzalo 22 Eroski Portfolio & Office Building Office Building Office Building Supermarkets Cheste
Slide 22: Confirmed again last July: Vistahermosa and Rivas Futura sales
Corporate presentation …which we have confirmed once again last July GLA €129.1 33,763 sqm Mn Sale Price WAULT 2.8 years Occupancy +24.0% VISTAHERMOSA 97.9% Revaluation since acquisition GLA 36,447 sqm WAULT 6.3% 2.3 years Average Exit Yield1 RIVAS FUTURA Occupancy 92.4% 1 Transaction costs included
Slide 23: We continue with our focus on ESG
Corporate presentation We continue with our focus on ESG… Accessibility Awarded 3 new Universal Accessibility certifications under the UNE- 170001 standard, meaning more than 60% of the portfolio is Carbon footprint currently certified under this standard. Working in registration of Company’s carbon
Slide 24: Improving our ESG KPIs
Corporate presentation …improving our ESG KPIs Environmental data for effective reporting Social impact for better communities Electricity consumption GHG emissions Electricity -9.8% Scope 1+2 -39.4% +1,500 hours +€160,000 consumption vs H1 2022 vs H1 2022 dedicated to social invested in social init
Slide 25: P&L 1H 2023
Corporate presentation P&L 1H 2023 1H 2023 1H 2022 Consolidated Income Statement 1H 2023 (€ Million) Total Total % Revenues 47.2 40.5 +16.6% Other Income 1.7 1.6 Total Income 48.9 42.1 +16.4% Personnel expenses (0.4) (0.5) Other expenses (15.1) (14.9) Changes in the fair value of investment properti
Slide 26: Final remarks
The REIT for thenew retail w rid Final remarks
Slide 27: 1H 2023, a period of relevant milestones
Corporate presentation 1H 2023, a period of relevant milestones… 1 Dividend distribution 2 Bond Buy-Back repurchase 3 Fitch confirms its investment grade €50 Mn +€20.4 Mn Fitch again confirms Lar 14.2% Dividend yield over in the P&L España’s BBB investment market cap grade rating and stable outlook
Slide 28: … and growth
Corporate presentation … and growth Our centers Sales1 Footfall €505.1 Mn +7.5% vs 1H 2022 39.5 Mn visits +3.7% vs 1H 2022 +16.1% vs 1H 20192 -2.9% vs 1H 20192 How it has been reflected in our P&L GRI Net profit €48.9 Mn +16.4% vs 1H 2022 €35.1 Mn 3.4x vs 1H 20223 1 Declared sales 2 LfL excluding La
Slide 29: Strong leadership in Spanish Retail makes Lar España an attractive company
Corporate presentation Strong leadership in Spanish Retail makes Lar España an extremely attractive company 1 SOLID OPERATING RESULTS 2 MAJOR INCREASE IN PROFIT 3 SOUND VALUATION 4 MODERATE DEBT LEVEL 5 IMPROVEMENT IN EPRA FIGURES 6 ONE OF THE HIGHEST ORDINARY DIVIDENDS IN OUR HISTORY by the hand of
Slide 30: Disclaimer
Disclaimer This document has been prepared by Lar España Real Estate SOCIMI, S.A. (the “Company”) for information purposes only and the information included in this document is not regulated information or information which has been subject to prior registration with, or control by, the Spanish Nati
Slide 31: www.larespana.com
— lar = The REIT for thenew retail w€9rld www.larespana.com
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