Varia Us Properties Ag · SIX:VARN
Varia Us Properties — H1 2024 Earnings Presentation
20 slides from Varia Us Properties's earnings presentation, Aug 28, 2024
Slide 1: Half-Year Results 2024
Half-Year Results 2024 28 August 2024
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: Today's Speakers
Today’s Speakers PATRICK RICHARD KAREN WELLER ■ Executive Member of the ■ Executive Vice Board of Directors,Varia President and Chief US Properties AG Financial Officer, ■ Founder and CEO of Stoneweg US, LLC Stoneweg US, LLC 3
Slide 4: Agenda
Agenda 1. Key achievements 2. Financials H1 2024 3. Portfolio update 4. Outlook 4
Slide 5: Agenda
Agenda 1. Key achievements 2. Financials H1 2024 3. Portfolio update 4. Outlook 5
Slide 6: Achievements H1 2024
Achievements H1 2024 Key Figures • Rental income like for like: USD 55.6 million (H1 2023: USD 53.3 million) • Total income: USD 34.6 million (H1 2023: USD 22.4 million) • EBITDA: USD 30.7 million (H1 2027: USD 27.9 million) • Net loss on revaluation of properties: USD: 32.7 million (H1 2023: net lo
Slide 7: Varia US Properties at a Glance
Varia US Properties at a Glance Geographic breakdown as of 30 June 2024 • Portfolio value of USD 1,257 billion (end of 2023: USD 1,300 billion) • 30 assets • 8,336 units • 13 different States in the US • Regionally balanced strategy • Well positioned in markets where population and job growth are ve
Slide 8: ESG Progress in H1 2024
ESG Progress in H1 2024 Achievemets on various fronts • Varia US has now achieved over 80% coverage of asset-level building performance data • The Company started two Fitwel and two BREEAM certifications and successfully secured two ENERGY STAR® Performance Certifications, with three additional cert
Slide 9: Agenda
Agenda 1. Key achievements 2. Financials H1 2024 3. Portfolio update 4. Outlook 9
Slide 10: H1 2024 Key Figures (1/2)
H1 2024 Key Figures (1/2) Rental Income in Mio Total Income in Mio Rental Income Like for Like in Mio 1 Rental Income in Mio 1 320.0 140 350 297.7 126.5 124.0 120 107.9 300 100 98.4 250 88.9 80 200 67.0 56.3 139.5 152.4 150 60 89.0 100 40 83.8 34.6 53.3 55.6 50 22.4 20 0 -23.3 0 -50 2019 2020 2021 2
Slide 11: H1 2024 Key Figures (2/2)
H1 2024 Key Figures (2/2) Debt in Mio Portfolio Value (USD Mio) Mortages Balance of interest bearing loans and borrowings LTV Debt Ratio Portfolio Value Like for Like Portfolio Value 1200 70% 1’043 944 1,704 1000 869 877 863 60% 818 808 1,412 760 800 1,230 1’257 601 50% 567 545 928 600 516 915 40% 4
Slide 12: Consolidated Statement of Profit and Loss
Consolidated Statement of Profit and Loss * Like for Like compares assets that were held for the full periods of H1 2024 and H1 2023 12
Slide 13: Consolidated Statement of Financial Position (1/2)
Consolidated Statement of Financial Position (1/2) 13
Slide 14: Consolidated Statement of Financial Position (2/2)
Consolidated Statement of Financial Position (2/2) 14
Slide 15: Agenda
Agenda 1. Key achievements 2. Financials H1 2024 3. Portfolio update 4. Outlook 15
Slide 16: Portfolio H1 2024
Portfolio H1 2024 Key Figures * According to Colliers International 16
Slide 17: Portfolio Development – Dispositions
Portfolio Development – Dispositions • During H1 2024, the Company disposed one non-strategic asset: • As per 30 June 2024, there were four additional dispositions pending, one in Cleveland (OH), one close to Louisville (IN), one in Kansas City (MO), and one in Cummings (GA). The Cleveland and Louis
Slide 18: Agenda
Agenda 1. Key achievements 2. Financials H1 2024 3. Portfolio update 4. Outlook 18
Slide 19: Outlook
Outlook • Until the end of 2024, the US real estate market should continue to warm up despite the presidential election in November • More and more transaction opportunities are expected to appear on the market and valuations should start to level up at a gradual pace • Operations should remain stro
Slide 20: Information
Information Investor Information Contact Information Listing: SIX Swiss Exchange Juerg Staehelin, IRF Currency: USD Investor Relations / Corporate Communications Ticker symbol: VARN Phone: +41 43 244 81 51 ISIN: CH 030 528 529 5 E-mail: investors@variausproperties.com Listing date: December 8, 2016