Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España Real Estate SOCIMI — H1 2015 Earnings Presentation
22 slides from Helios Re Socimi's earnings presentation, Aug 31, 2015
Slide 1: 1H 2015 Financial Results
1H 2015 Financial Results 31st August, 2015 www.larespana.com Lar España Real Estate SOCIMI, S.A. (LRE) – May, 2015 1
Slide 2: Lar España's presenting team
1H 2015 Financial Results - Lar España Real Estate Lar España’s presenting team MIGUEL PEREDA Co-CEO of Grupo Lar and Board Member of Lar España JON ARMENTIA Corporate Manager of Lar España JORGE PEREZ DE LEZA Head of European Operations of Grupo Lar JOSE MANUEL LLOVET Head of Retail Operations of G
Slide 3: Financial Highlights
Financial Highlights Lar España Real Estate SOCIMI, S.A. (LRE) – May, 2015
Slide 4: Speeding up business performance and portfolio growth
1H 2015 Financial Results - Lar España Real Estate Financial Highlights Speeding up business performance and portfolio growth Strong business performance during 1H 2015 Positive business performance: 1H 2015 EBITDA of €8.3m; EBIT of €20.8m; Net Profit of €19.3m +6% EPRA NAV growth in the 1H2015, on
Slide 5: Positive financial performance, but still expecting ramp-up phase
1H 2015 Financial Results - Lar España Real Estate Consolidated P&L (IFRS) and Consolidated Balance Sheet (IFRS) Positive financial performance, but still expecting ramp-up phase Consolidated Income Statement Consolidated Balance Sheet (1) (2) 1H 2015 1H 2014 Assets Jun 30, 2015 Dec 31, 2014 (3) Rev
Slide 6: +6% of NAV growth since the end of 2014
1H 2015 Financial Results - Lar España Real Estate Financial Indicators as of June 30th, 2015 + 6% of NAV growth since the end of 2014 Relative growth figures by segment 8% GAV EPRA valuation growth: 6% 4% 3% in the 1H (1) 2% 0% Logistics Offices Retail Financial Indicators 30/06/2015 31/12/2014 %Ch
Slide 7: Lar España's portfolio at a glance (1H'15)
1H 2015 Financial Results - Lar España Real Estate 1H 2015 Portfolio Breakdown and EPRA KPI’s Lar España’s portfolio at a glance (1H’15) Residential Logistics 6% 17% Retail GLA 40% Rental Income Retail breakdown by Logistics 41% by asset class Offices 61% asset class 22% Offices 13% EPRA Net Initial
Slide 8: Flexible Balance Sheet structure provides stability to our strategy
1H 2015 Financial Results - Lar España Real Estate Debt overview Flexible Balance Sheet structure provides stability to our strategy – Cost of Bank Debt Euribor + 1.86%,while >70% of the debt is fixed Prudent Financial Management: 72% exposure to fixed debt and Back-loaded amortization of the debt d
Slide 9: Capital Increase
Capital Increase Lar España Real Estate SOCIMI, S.A. (LRE) – May, 2015
Slide 10: €135m Capital increase enabling for accretive deals after mid 2015
1H 2015 Financial Results - Lar España Real Estate July 2015 Capital Increase €135m Capital increase enabling for accretive deals after mid 2015 The capital increase transaction was met with strong support from existing and new investors. Initial take-up of the rights offering was 99.48% and the New
Slide 11: Portfolio construction after capital increase
1H 2015 Financial Results - Lar España Real Estate Portfolio construction after capital increase Lar España has accelerated its portfolio construction by signing off-market deals, pushing total portfolio+committed capex to c.€1000m Pipeline under negotiation + capex: 2.000 Pipeline under €867m negot
Slide 12: Portfolio overview as of August 31st
1H 2015 Financial Results - Lar España Real Estate Portfolio overview as of August 31st Lar España consolidates a diversified and stable rent generating portfolio All figures stated at the acquisition date Weighted Avg. W.A.U.L.T as Avg. Initial Annual Net Rent Asset Class Units Price Gross Lettable
Slide 13: Overview of recent acquisitions
Overview of recent acquisitions Lar España Real Estate SOCIMI, S.A. (LRE) – May, 2015
Slide 14: €170m - Megapark Retail Complex & Factory Outlet in Bilbao
1H 2015 Financial Results - Lar España Real Estate New Acquisition €170m - Megapark Retail Complex & Factory Outlet in Bilbao • The property is located in Barakaldo, which is considered part of the metropolitan area of Bilbao, in the autonomous community of the Basque Country in the North West of Sp
Slide 15: €170m - Megapark Retail Complex & Factory Outlet in Bilbao
1H 2015 Financial Results - Lar España Real Estate New Acquisition €170m - Megapark Retail Complex & Factory Outlet in Bilbao Retail Complex: 44,512 sqm Factory Outlet Centre 19,210 sqm Lar Lar España España Real Real Estate Estate SOCIMI, SOCIMI, S.A. (LRE) –– May, S.A. (LRE) August, 2015 2015 15
Slide 16: €87.5m - El Rosal Shopping Centre in Ponferrada
1H 2015 Financial Results - Lar España Real Estate New Acquisition €87.5m - El Rosal Shopping Centre in Ponferrada • Shopping Centre located in Ponferrada (North-West Spain). • 136 Retail units and 2,436 parking spaces. • Opened in 2007 and its main anchors are the Carrefour hypermarket, a Location
Slide 17: €53m – Cruce de Caminos Retail Park and Gallery in Sagunto
1H 2015 Financial Results - Lar España Real Estate New Development €53m – Cruce de Caminos Retail Park and Gallery in Sagunto (Valencia) • Located in Sagunto 25 Km north of Valencia, in the east coast o Spain. • Cruce de Caminos is divided in a Retail Park (60% GLA), a hypermarket (23% GLA), a Retai
Slide 18: €8.4m - Galaria Retail Complex in Pamplona
1H 2015 Financial Results - Lar España Real Estate New Acquisition €8.4m - Galaria Retail Complex in Pamplona • Located in Pamplona (Navarra) in the north of Spain. • Galaria is the most consolidated retail area in Pamplona. The asset is composed by three units in the retail park with a current occu
Slide 19: Conclusion
Conclusion Lar España Real Estate SOCIMI, S.A. (LRE) – May, 2015
Slide 20: Solid performance and NAV Evolution, while Real Estate Portfolio grows by c.50%
1H 2015 Financial Results - Lar España Real Estate Conclusions Solid performance and NAV Evolution, while Real Estate Portfolio grows by c.50% with mostly off-market and value add deals +6% NAV Growth in 1H2015 & 19.3 Net profit generated, on the back of a solid evolution of the Business Strong supp
Slide 21: Disclaimer
Disclaimer DISCLAIMER. RISKS AND FORWARD-LOOKING STATEMENTS • This document has been prepared by Lar España Real Estate SOCIMI, S.A. (the “Company”) for information purposes only and it is not a regulated information or information which has been subject to prior registration or control by the Spani
Slide 22: Lar España Real Estate SOCIMI, S.A. (LRE) – May, 2015
Lar España Real Estate SOCIMI, S.A. (LRE) – May, 2015 22
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