Castellana Properties Socimi Sa · BME:YCPS

Castellana Properties Socimi Sa — FY2020 Earnings Presentation

38 slides from Castellana Properties Socimi Sa's earnings presentation, June 2020

  1. Slide 1: FY2020 Financial Results Presentation

    CASTELLANA PROPERTIES OVERVIEW / RESULTS PRESENTATION FY2020 April 2019 - March 2020 FINANCIAL RESULTS PRESENTATION

  2. Slide 2: Key Highlights

    KEY HIGHLIGHTS / RESULTS PRESENTATION HIGHLIGHTS COVID – 19 OPERATIONAL PERFORMANCE  Portfolio´s health and liquidity status  Investments of c. €110 million(1) in FY2020 together with an experienced Management allows Castellana to manage the situation  Occupancy of 98.30% by 31st March, and be fl

  3. Slide 3: COVID-19

    CASTELLANA PROPERTIES OVERVIEW / RESULTS PRESENTATION COVID-19  OUR RESPONSE TO COVID  REOPENING STRATEGY  CUSTOMERS FEEDBACK  FOOTFALL SHOPPING CENTRES  RETAILER SOUNDING

  4. Slide 4: Our Response to Covid

    COVID - 19 / RESULTS PRESENTATION OUR RESPONSE TO COVID ACTION PLAN HIGHLIGHTS OVER PAST 3 MONTHS – APRIL to JUNE 2020 STRONG TENANT BUSINESS IS PARTNERING WITH VALUATION & INDUSTRY ROBUST DEBT PROVIDERS ASSUMPTIONS RELATIONSHIPS  Extensive scenario modelling  100% Rental discounts for April have

  5. Slide 5: Reopening Strategy 1/2

    COVID - 19 / RESULTS PRESENTATION REOPENING STRATEGY 1 / 2 CASTELLANA PROPERTIES IMPLEMENTED MORE THAN 200 HEALTH AND HYGIENE MEASURES IN EACH SHOPPING CENTRE TO MAKE CENTRES A SAFE PLACE FOR CUSTOMERS, TENANTS AND STAKEHOLDERS 3 MAIN OBJECTIVES Vehicle accesses Pedestrian Travellators & Elevators &

  6. Slide 6: Reopening Strategy 2/2

    COVID - 19 / RESULTS PRESENTATION REOPENING STRATEGY 2 / 2 360º REOPENING STRATEGY FOR A SAFE AND WARM WELCOME TO OUR RETAILERS AND CUSTOMERS INDOOR SIGNAE GIFTS TO CUSTOMERS SOCIAL MEDIA During this time, the Centres The mall provides customers We have delivered small gifts been securing customers

  7. Slide 7: Customers Feedback

    COVID - 19 / RESULTS PRESENTATION CUSTOMERS FEEDBACK GREAT WELCOME BY CUSTOMERS, THANKING THE MEASURES IMPLEMENTED AND WANTING TO RETURN TO NORMALITY Finally, Los Arcos, my gosh. I know you Thanks to you for remember us, we’ve Finally open!!! I went this afternoon and all was have been working hard

  8. Slide 8: Footfall Shopping Centres

    COVID - 19 / RESULTS PRESENTATION FOOTFALL SHOPPING CENTRES RESILIENT PORTFOLIO SHOWING GOOD RECOVERY POST-COVID-19 TOTAL RETAIL TRAFFIC INDEX PERFORMACE SINCE THE REOPENING (2) CASTELLANA PROPERTIES PORTFOLIO FOOTFALL JAN-JUN 2020 (1) W.E. 1 W.E. 2 W.E. 3 0% JAN FEB MAR APR MAY JUN (4) -20% Spain I

  9. Slide 9: Retailers' Soundings: Sales Could Drop up to c. 35% for 2020

    COVID - 19 / RESULTS PRESENTATION RETAILERS’ SOUNDINGS SALES COULD DROP UP TO C. 35% FOR THE FULL YEAR 2020 BUT EXPECTED TO RECOVER EARLY 2021 SALES FORECAST - END OF YEAR 2020 RENT BY TENANT CATEGORY (%) 95% Average all categories Beaty & Health 7% Culture & Gifts 70% DIY 66% 65% 64% 70% 65% 68% 64

  10. Slide 10: Key Highlights

    CASTELLANA PROPERTIES OVERVIEW / RESULTS PRESENTATION KEY HIGHLIGHTS  TIMELINE PERFORMANCE LAST YEAR  MAIN KPI’S PERFORMANCE

  11. Slide 11: Timeline Performance Last Year

    KEY HIGHLIGHTS / RESULTS PRESENTATION TIMELINE PERFORMANCE LAST YEAR Repositioning Projects starting in Los Arcos, Bahía Sur and El Faro SCs Acquisition of the units EPRA Silver Award 2019 in owned by El Corte Acquisition of Castellana´s first participation Inglés in Los Arcos and Acquisition of Pue

  12. Slide 12: Main KPI's Performance

    KEY HIGHLIGHTS / RESULTS PRESENTATION MAIN KPI’s PERFORMANCE 18 373,419 sqm 98.30 % 13.5 years 98.94 % OPERATIONAL ASSETS GLA OCCUPANCY WAULT RENT COLLECTION €56m €44m €17.1m €448m 2.47 % 44.68 % FINANCIAL GRI EBITDA NET PROFIT(1) NET DEBT(2) ALL-IN COST NET LTV (3) €1.003b (2.38 %) €559m 6.48 €/sha

  13. Slide 13: FY20 Financial Results

    CASTELLANA PROPERTIES OVERVIEW / RESULTS PRESENTATION FY20 FINANCIAL RESULTS  CONSOLIDATED INCOME STATEMENT  FINANCIAL DEBT POSITION  GAV BRIDGE AND BREAKDOWN  GRI BRIDGE AND BREAKDOWN  FY20 DIVIDEND DISTRIBUTION

  14. Slide 14: Consolidated Income Statement

    FY2020 FINANCIAL RESULTS / RESULTS PRESENTATION CONSOLIDATED INCOME STATEMENT € thousands FY2020(1) FY2019 Gross rental income (GRI) 55,902 34,279 FINANCIAL PERFORMANCE Property operating expenses (4,429) (1,607) Net operating Income (NOI) 51,473 32,672 Total recorded Group GRI, excluding income rel

  15. Slide 15: Financial Debt Position

    FY2020 FINANCIAL RESULTS / RESULTS PRESENTATION FINANCIAL DEBT POSITION € million 31/03/2020 31/03/2019 Two new loans signed for a total nominal debt Gross Asset Value (GAV) 1,003.49 916.47 drawdown of €41.5m (Liberbank + Banco Pichincha Gross Debt 493.83 450.35 €23m and Aareal €18.5m) during FY2020

  16. Slide 16: GAV Bridge and Breakdown

    FY2020 FINANCIAL RESULTS / RESULTS PRESENTATION GAV BRIDGE AND BREAKDOWN Strong portfolio revaluation of €7.6m in 6 months from 31st March 2019 to 30 September 2019 Portfolio Gross Asset Value over €1bn with investments of c. €110m during FY2020 LfL Acquisitions GROWTH GROWTH +0.32% +7.58% €m 110.3

  17. Slide 17: GRI Bridge and Breakdown

    FY2020 FINANCIAL RESULTS / RESULTS PRESENTATION GRI BRIDGE AND BREAKDOWN Life-for-Like Growth of 2.78% Potential Portfolio GRI Annualised over €66m SHOPPING CENTRES €45.5m 68.5% RETAIL PARKS +2.75% LfL GROWTH(2) RETAIL PARKS €18.9m 28.4% OFFICES +3.00% +2.78% OFFICES €2.0m 3.1% €m 66.4 3.2 55.9 17.9

  18. Slide 18: FY20 Dividend Distribution

    FY2020 FINANCIAL RESULTS / RESULTS PRESENTATION FY20 DIVIDEND DISTRIBUTION Total dividend of the year represents 99.7% of the FFO generated according to Castellana’s dividend policy Dividend FY20 distribution performing a detailed forecast liquidity analysis +20.6% Dividend growth ,6000 €/sh. ,5000

  19. Slide 19: Business Performance & Acquisitions

    CASTELLANA PROPERTIES OVERVIEW / RESULTS PRESENTATION BUSINESS PERFORMANCE & ACQUISITIONS  ESG  ACQUISITIONS  FOOTFALL & SALES SHOPPING CENTRES  LEASING ACTIVITY

  20. Slide 20: ESG

    ESG/ RESULTS PRESENTATION ESG Castellana Properties is stablishing an ambitious ESG (Environment, Social and Governance) strategy and aspires to give a step forward to be a reference in the sector creating stronger relationships with customers and communities GOVERNANCE ENVIRONMENTAL SOCIAL We intro

  21. Slide 21: Acquisitions

    BUSINESS PERFORMANCE & ACQUISITIONS / RESULTS PRESENTATION ACQUISITIONS 1 2 3 PUERTA EUROPA SC - ALGECIRAS Units owned by El Corte Ingles in LOS ARCOS ACQUISITION DATE 31/07/2019 PINATAR PARK PHASE II - MURCIA and BAHIA SUR SC’s - SEVILLE & CADIZ PRICE (1) €56.8m ACQUISITION DATE 27/05/2019 ACQUISIT

  22. Slide 22: Footfall & Sales Shopping Centres

    BUSINESS PERFORMANCE & ACQUISITIONS / RESULTS PRESENTATION FOOTFALL&SALES SHOPPING CENTRES CASTELLANA PROPERTIES PORTFOLIO KEEPS GROWING AND FOOTFALL OUTPERFORMING IN 2019 Strong positive trend across the portfolio (+ 3.9% YTD 2019) vs national index (- 1.9%). FOOTFALL JAN – DEC 2019 (1) SALES JAN –

  23. Slide 23: Leasing Activity

    BUSINESS PERFORMANCE & ACQUISITIONS / RESULTS PRESENTATION LEASING ACTIVITY COMMERCIAL PERFORMANCE FY2020 MAIN BUSINESS KPI´S DURING FY2020 OCCUPANCY ALMOST FULLY LET 165 €12.2m 31ST MARCH 2020 98.30% OPERATION SIGNED NEW RENT SIGNED 31ST MARCH 2019 97.86% 64 101 €4.71m €7.51m RENEWALS NEW CONTRACTS

  24. Slide 24: Value Creation

    CASTELLANA PROPERTIES OVERVIEW / RESULTS PRESENTATION VALUE CREATION  MAIN GROWTH DRIVERS  BAHIA SUR  LOS ARCOS  EL FARO

  25. Slide 25: Main Growth Drivers FY2020

    VALUE CREATION / RESULTS PRESENTATION MAIN GROWTH DRIVERS FY2020 ENHANCED TENANCY MIX IN INTRODUCING DEALZ IN THE UPGRADING COMMERCIAL HABANERAS RETAIL PARK PORTFOLIO MIX IN PUERTA EUROPA NEW ACCESS TO F&B AREA DEALZ OPENING IN LA SERENA EXPANSION PULL&BEAR STORE  New F&B area reconfiguration in up

  26. Slide 26: Repositioning Project - Bahía Sur

    VALUE CREATION / RESULTS PRESENTATION REPOSITIONING PROJECT - BAHIA SUR 1 / 2 CURRENT LAY OUT FUTURE LAY OUT (1) ACQUISITION OF EL CORTE INGLES UNIT TO REINFORCE THE DOMINANCE OF THE CENTRE, BRINGING NEW AND EXCITING TENANTS TO THE CADIZ REGION Unit signed Unit committed. Advanced negotiations Unit

  27. Slide 27: Repositioning Project - Bahía Sur 2/2

    VALUE CREATION / RESULTS PRESENTATION REPOSITIONING PROJECT - BAHIA SUR 2 / 2 MAY 2020 JUL 2020 DEC 2020 Inditex units Indoor Yelmo Cines ready to redesigned opening deliver finished Q1 Q2 Q3 Q4 JUN 2020 SEPT 2020 Reconfiguration units Zara, Lefties, Yelmo unit in ECI’s area highly KIko…. ready to d

  28. Slide 28: Repositioning Project - Los Arcos

    VALUE CREATION / RESULTS PRESENTATION REPOSITIONING PROJECT - LOS ARCOS 1 / 2 CURRENT LAY OUT FUTURE LAY OUT (1) ACQUISITION OF HIPERCOR UNIT ENABLING IMPROVED TENANT MIX ALONG WITH STREET LEVEL RECONFIGURATION Unit signed Unit committed. Advanced negotiations Unit under negotiations RETURN METRICS

  29. Slide 29: Repositioning Project - Los Arcos 2/2

    VALUE CREATION / RESULTS PRESENTATION REPOSITIONING PROJECT - LOS ARCOS 2 / 2 MAY 2020 JUL 2020 SEPT-NOV 2020 Complete Mercadona’s Other unit’s reconfiguration opening opening Hipercor’s units Q1 Q2 Q3 Q4 Q2 – Q3 Relocation some units located in central mall Works inside the mall have been progressi

  30. Slide 30: Repositioning Project - El Faro

    VALUE CREATION / RESULTS PRESENTATION REPOSITIONING PROJECT – EL FARO 1 / 2 FUTURE LAY OUT (1) UNLOCKING VALUE BY TRANSFORMING FORMER DIY BOX INTO ATTRACTIVE F&B PLAZA Unit signed Unit committed. Advanced negotiations Unit under negotiations RETURN METRICS Capex Budget €4.5m Additional NOI created €

  31. Slide 31: Repositioning Project - El Faro 2/2

    VALUE CREATION / RESULTS PRESENTATION REPOSITIONING PROJECT - EL FARO 2 / 2 JUN 2020 SEPT-OCT 2020 DEC 2019 Castellana works Yelmo Opening Yelmo unit finished and units - delivered ready to deliver Other unit’s opening Q1 Q2 Q3 Q4 Hard push in the project in the last 6M (+25% GLA signed and committe

  32. Slide 32: Appendix B: Spanish Portfolio

    CASTELLANA PROPERTIES OVERVIEW / RESULTS PRESENTATION APPENDIX B  SPANISH PORTFOLIO

  33. Slide 33: Our Portfolio

    CASTELLANA PROPERTIES OVERVIEW / RESULTS PRESENTATION OUR PORTFOLIO 9 3% 1 El Faro 10 Marismas de Polvorín 9% 2 Bahía Sur 11 Alcobendas Building 5 3 Los Arcos 12 La Heredad 11 4 Granaita 13 La Serena 8 7% 17 5 Vallsur 14 Pinatar Park 16 20% 6 Habaneras 15 Motril Retail Park 12 10% 7 Puerta Europa 16

  34. Slide 34: Spanish Portfolio Overview: Top 10 Assets

    CASTELLANA PROPERTIES OVERVIEW / RESULTS PRESENTATION SPANISH PORTFOLIO OVERVIEW TOP 10 ASSETS EL FARO BAHÍA SUR LOS ARCOS GRANAITA (I) VALLSUR GAV €162.0m €140.7m €135.8m €111.1m €91.4m Province Badajoz Cádiz Seville Granada Valladolid Catchment Area (Inhabitants) 517,491 674,250 1,499,884 628,002

  35. Slide 35: Spanish Portfolio Overview: Top 10 Assets

    CASTELLANA PROPERTIES OVERVIEW / RESULTS PRESENTATION SPANISH PORTFOLIO OVERVIEW TOP 10 ASSETS PARQUE OESTE (I) MARISMAS DEL HABANERAS PUERTA EUROPA PARQUE PRINCIPADO POLVORÍN GAV €88.9m €62.9m €50.2m €33.1m €27.3m Province Alicante Cádiz Madrid Oviedo Huelva Catchment Area (Inhabitants) 531,670 311

  36. Slide 36: Solidarity Fund

    ESG/ RESULTS PRESENTATION SOLIDARITY FUND CASTELLANA PROPERTIES HAS DONATED MORE THAN €100K FROM ITS SOLIDARITY FUND TO SUPPORT THE COMMUNITIES WHERE THE COMPANY IS PRESENT AND COLLABORATE WITH THOSE DISADVANTAGED GROUPS AFFECTED DIRECTLY BY COVID-19 FOOD BANK SCHOOLING SUPPORT HEALTHCARE MATERIAL +

  37. Slide 37: Disclaimer

    RESULTS PRESENTATION DISCLAIMER PURPOSE OF THIS PRESENTATION AND LIABILITY ACCOUNTING STANDARDS APPLIED This document has been prepared by Castellana Properties SOCIMI, S.A. ("Castellana Properties") This document and the information presented herein was prepared by Castellana Properties solely with

  38. Slide 38: Rubén Darío, 3 28010 Madrid www.castellanaproperties.es

    Rubén Darío, 3 28010 Madrid (+34) 91 426 86 86 www.castellanaproperties.es 38

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