Varia Us Properties Ag · SIX:VARN
Varia Us Properties — H1 2022 Earnings Presentation
20 slides from Varia Us Properties's earnings presentation, Aug 29, 2022
Slide 1: Half-Year Results 2022
Half-Year Results 2022 August 29th, 2022 Strictly Confidential
Slide 2: Important Notice
Important Notice This presentation includes forward-looking information and statements, including statements concerning the outlook for our business. These statements are based on current expectations, estimates and projections about the factors that may affect our future performance, including the
Slide 3: Agenda
Agenda 1. Key achievements 2. Financials HY 2022 3. Portfolio and growth strategy 4. Outlook Strictly Confidential 3
Slide 4: Agenda
Agenda 1. Key achievements 2. Financials HY 2022 3. Portfolio and growth strategy 4. Outlook Strictly Confidential 4
Slide 5: Key Achievements HY 2022 (1/2)
Key Achievements HY 2022 (1/2) Key Outcomes • Total income of USD 248.9 million (June 30, 2021: USD 113.2 million) • Of which USD 91.1 million are realized gains and USD 157.9 million are fair value market adjustments • EBITDA of USD 45.5 million (June 30, 2021: USD 33.5 million) • EBITDA margin of
Slide 6: Key Achievements HY 2022 (1/2)
Key Achievements HY 2022 (1/2) ESG Progress • Whole portfolio submitted to GRESB (results expected in October 2022) • Portfolio Affordability analysis. - Considering the specific location of each asset and the applicable Average Median Income (AMI) of the household of each unit, the goal was to meas
Slide 7: Varia US Properties at a Glance
Varia US Properties at a Glance Geographic breakdown of Varia Properties as of June 30, 2022 • Portfolio value of USD 1.602 billion (end of 2021: USD 1.412 billion ) • 42 assets • 11,323 units • 15 different States in the US • Geographical diversification: • Regionally balanced strategy • 15% of the
Slide 8: Agenda
Agenda 1. Key achievements 2. Financials HY 2022 3. Portfolio and growth strategy 4. Outlook Strictly Confidential 8
Slide 9: HY 2022 Key Figures (1/2)
HY 2022 Key Figures (1/2) Rental Income (in Mio) Total Income (in Mio) 300 Rental Income Like for Like Rental Income 248.94 Millionen 250 70 61.98 Millionen 60 200 48.79 52.04 50 42.38 150 40 35.34 113.19 30 26.24 100 66.07 20 43.28 46.39 52.37 50 10 0 0 HY 2017 HY 2018 HY 2019 HY 2020 HY 2021 HY 20
Slide 10: HY 2022 Key Figures (2/2)
HY 2022 Key Figures (2/2) Debt (in Mio) Portfolio Value Mortages Balance of interest bearing debt and Borrowings LTV Debt Ratio 1’800 1’602 Millionen 1’600 1’412 1’000 930 64.0% 835 1’400 Millionen 62.0% 1’200 800 647 60.0% 915 928 567 597 1’000 600 505 518 768 460 58.0% 800 430430 618 400 313313 56
Slide 11: Consolidated Statement of Profit and Loss
Consolidated Statement of Profit and Loss In USD million (For the six months ended) June 30, 2022 June 30, 2021 Rental income 62.0 52.0 Other income and insurance proceeds 8.5 6.4 Realized Gain on disposal of properties 20.6 12.7 Total Realized Income (total income less unrealized valuation) 91.1 71
Slide 12: Consolidated Statement of Financial Position (1/2)
Consolidated Statement of Financial Position (1/2) Strictly Confidential 12
Slide 13: Consolidated Statement of Financial Position (2/2)
Consolidated Statement of Financial Position (2/2) * Include realized gain on disposal of properties Strictly Confidential 13
Slide 14: Agenda
Agenda 1. Key achievements 2. Financials HY 2022 3. Portfolio and growth strategy 4. Outlook Strictly Confidential 14
Slide 15: Portfolio HY 2022 Key Figures
Portfolio Hy 2022 Key Figures PORTFOLIO NUMBER OF NUMBER OF AVERAGE OCCUPANCY VALUE1 PROPERTIES UNITS MARKET VALUE RATE End of 2021: USD 1.412 billion End of 2021: 43 End of 2021: 11,887 PER UNIT End of 2021: 94.6% End of 2021: USD 118,786 USD billion 1.602 42 11,323 USD 141,500 94.3% AVERAGE INTERE
Slide 16: Portfolio Development - Dispositions
Portfolio Development - Dispositions • During the period, the Company disposed of two properties located in Kansas City. • The Company intends to sell a few more properties in the second half of the year, in order to continue improving the quality of the portfolio. Strictly Confidential 16
Slide 17: Portfolio Development - Acquisitions
Portfolio Development - Acqusitions • During the period, the Company acquired a new asset in the neighborhood of Charlotte, NC. This addition to the portfolio is in line with the strategy put in place over the last 18-24 months. • The Company will purchase a few more, newer and better located proper
Slide 18: Agenda
Agenda 1. Key achievements 2. Financials HY 2022 3. Portfolio and growth strategy 4. Outlook Strictly Confidential 18
Slide 19: Outlook 2022 (2nd half)
OUTLOOK 2022 (2nd half) • Our basic scenario is that the economy will slow down in the next few months, that inflation will come down by the end of the year and that the economy will slowly rebound in 2023 • We anticipate a moderate impact on our valuations and a slight one on our operational result
Slide 20: Information
Information Investor Information Contact Information Listing: SIX Swiss Exchange Juerg Staehelin, IRF Currency: USD Investor Relations / Corporate Ticker symbol: VARN Communications ISIN: CH 030 528 529 5 Phone: +41 43 244 81 51 Listing date: December 8, 2016 E-mail: investors@variausproperties.com