Slide 1: Results Presentation 9M 2020
FOR CLIENTS AND SHAREHOLDERS Results Presentation 9M 2020| 12 November 2020 PATRIZIA | © 2020
Slide 2: Video presentation
Video presentation PATRIZIA 9M 2020 Financial Results | Video presentation Let our CFO Karim Bohn guide you through the most important points of our 9M 2020 Financial Results Access via QR code Access via weblink https://www.youtube.com/watch?v=SFM8nRNyWuw&feature=youtu.be PATRIZIA | © 2020 2
Slide 3: Covid-19 Update: Stronger for clients and shareholders
Covid-19 Update Stronger for clients and shareholders Resilient business model with upside through structural growth opportunities 1 2 3 Strong and Rock-solid Structural reliable partner financial growth case position still intact PATRIZIA delivered Continued Lower for longer on its promise to gener
Slide 4: Financials & Guidance
Financials & Guidance 9M 2020 PATRIZIA | © 2020 4
Slide 5: Highlights
Financials 9M 2020 Highlights Solid financial results despite challenging market environment – FY 2020 guidance specified Assets under management1 | EUR bn 9M 2020 • Operating income of EUR 100.2m in 9M 2020, already reaching the +4.0% 46.2 46.5 – 48.0 lower end of the broadened FY 2020 guidance r
Slide 6: Operating income
Financials 9M 2020 Operating income Continued growth in management, transaction and performance fees Highlights Composition 9M 2020 | EUR m • Total service fee income increased by 6.2% y-o-y to EUR 248.1m (9M 2019: EUR 233.7m) driven by: +4.4% -24.4% • Increased Management fees of EUR 145.0m +
Slide 7: Management fees
Financials 9M 2020 Management fees Well diversified AUM-base and predictable management fees • Management fees up 2.4% to EUR 145.0m due to increased AUM 7% • Diversified and long-term oriented AUM-base forms solid basis 3% for predictable cash flows – resilience of AUM-base confirmed in 12% 35% cha
Slide 8: Transaction fees
Financials 9M 2020 Transaction fees PATRIZIA is still active for its global client base despite challenging Covid-19 market environment Highlights Transaction volume (signed/closed) | EUR bn • Ongoing transaction activity for PATRIZIA’s global client base drove transaction fee growth to EUR 29.1m in
Slide 9: Performance fees
Financials 9M 2020 Performance fees Superior returns for clients translate into attractive performance fees Performance fees | EUR m Performance fee pool1 – Illustrative example | EUR m 80.0 – 90.0 +8.0% 74.1 68.6 72.5 72.5 72.5 72.5 72.5 Ø 52.9 2 9M 2019 9M 2020 2020e 2013-2020e 2021e 2022e 2023e
Slide 10: Guidance for FY 2020
Financials 9M 2020 Guidance for FY 2020 Guidance for FY 2020 specified on the basis of increased visibility for Q4 2020 Assumptions for FY 2020 Income composition FY 2020e | EUR m • Specified operating income guidance for FY 2020e of EUR 110.0 to 130.0m reflects the already reached lower end of form
Slide 11: Solid financial position
Covid-19 Update Solid financial position Rock-solid balance sheet and strong cash position make PATRIZIA well prepared for the crisis • Strong balance sheet ratios and capital structure to facilitate further profitable growth Strong balance sheet Significant liquidity EUR m 30.09.2020 EUR m 30.09.20
Slide 12: Appendix
Appendix PATRIZIA | © 2020 12
Slide 13: Capital allocation
Appendix Capital allocation Assets under Invested capital Invested capital Participations As at 30.09.2020 management (fair value) (at cost) EUR m EUR m EUR m in % Third-party business 39,876.4 0.0 Co-Investments 6,315.8 496.5 91.4 Residential 5,435.6 479.8 77.3 Dawonia GmbH 4,828.0 158.91 51.7 5.1
Slide 14: Reconciliation of operating income
Appendix Reconciliation of operating income EUR k 9M 2020 9M 2019 Change EBITDA 101,837 95,104 7.1% Amortisation of other intangible assets¹, software and rights of use, depreciation of property, plant and equipment as well as financial investments -29,157 -31,473 -7.4% EBIT 72,680 63,631 14.2% Fina
Slide 15: Consolidated income statement
Appendix Consolidated income statement EUR k 9M 2020 9M 2019 Change Revenues 223,157 242,920 -8% Income from the sale of investment property 0 273 -100% Changes in inventories -650 -23,130 -97% Other operating income 11,501 9,514 21% Income from the deconsolidation of subsidiaries 116 585 -80% Total
Slide 16: Consolidated balance sheet | Assets
Appendix Consolidated balance sheet | Assets EUR k 30.09.2020 31.12.2019 A. Non-current assets Goodwill 211,323 210,292 Other intangible assets 115,671 131,895 Software 16,084 10,326 Rights of use 25,801 24,988 Investment property 1,835 1,835 Equipment 6,301 6,056 Associated companies accounted usin
Slide 17: Consolidated balance sheet | Equity and liabilities
Appendix Consolidated balance sheet | Equity and liabilities EUR k 30.09.2020 31.12.2019 A. Equity Share capital 89,683 91,060 Capital reserves 128,652 155,222 Retained earnings Legal reserves 505 505 Currency translation difference -10,099 -4,818 Remeasurements of defined benefit plans according to
Slide 18: Profitability and costs
Appendix Profitability and costs Continued efficiency improvements propel profitability and cost ratios AUM vs total cost ratio | EUR bn vs % EBITDAR margin (+/- principal investments) | EUR m, LHS vs %1 50 46.5 – 48.0 1% 180 50% 45 41% 34 1.21% 46.2 45% 1% 160 43% – 44.5 39% 39% 40 41% 41.0 140 35%
Slide 19: Financial calendar
Appendix Financial calendar 2021 February 25 ➢ Preliminary results 2020 March 18 ➢ Annual Report 2020 May 12 ➢ Quarterly Statement for the first quarter of 2021 June 23 ➢ Annual General Meeting, virtual August 5 ➢ Interim Report for the first half of 2021 November 11 ➢ Quarterly Statement for the fi
Slide 20: Contact
Appendix Contact KARIM BOHN MARTIN PRAUM Member of the Senior Managing Director Management Board | CFO Head of Investor Relations PATRIZIA AG T +49 821 50910-402 Fuggerstrasse 26 F +49 821 50910-399 86150 Augsburg M +49 151 19685445 Germany investor.relations@patrizia.ag VERENA SCHOPP DE ALVARENGA M