Noval Property Real Estate Investment Company · ATHEX:NOVAL
Noval Property Real Estate Investment — Noval Property — Investor Presentation (May 2023)
32 slides from Noval Property Real Estate Investment's investor presentation, May 2023
Slide 1: Corporate Presentation May 2023
Corporate Presentation May 2023
Slide 2: Overview
Overview Me NOVAL PROPERTY
Slide 3: NOVAL PROPERTY at a Glance
NOVAL PROPERTY at a Glance The 2nd largest Greek REIC with diversified Financials(1) Portfolio(1) and resilient portfolio comprising 62 properties €486.4mn €25.6mn GAV(2) Annualized Rental Income Footprint across Greece, selectively positioned in Bulgaria 62(3) Properties €12.8 mn Adj. EBITDA 20
Slide 4: Milestones
Milestones Megastore, Mare West K29 Apartment Athens Retail Park, Hotel, Athens Corinth 2011 2016 2018 2008 2015 2017 River West License to operate as a Shopping Centre, Real Estate 5* Hotel, Athens Investment Company Athens (REIC) and an internally managed Alternative Investment Fund (AIF) from the
Slide 5: Milestones (cont.)
Milestones (cont.) • The Butterfly office building, Athens • The Orbit office complex on Kifissias Ave., Athens • Start of the RIVER WEST expansion €21,35mn project (completion in Summer 2021) Green Bond Issuance, €120 mn Share Capital increase 15.10.2019 – Establishment of NOVAL listed in the cat
Slide 6: Real Estate Portfolio Overview
Real Estate Portfolio Overview Breakdown by GAV(1) Key Assets Other Top Five (5) % GAV % GLA Logistics / Warehouses 6,4% 17,6% The Orbit 17.5% 4.9% Hospitality Retail 9,9% €486.4mn 33,2% River West & River West Open 18.1% 11% IKEA Office 33,0% 10.8% 7.4% Wyndham Grand NOVAL PROPERTY manages, devel
Slide 7: Portfolio Highlights
Portfolio Highlights Me NOVAL PROPERTY
Slide 8: Well Diversified Portfolio
1 Well Diversified Portfolio NOVAL PROPERTY’s footprint 62 Properties(2) Bulgaria Rest of Greece 2% Bulgaria 1,3% 10,5% Thessaloniki 1,7% Rest of 1 Sofia Greece 34% Attica GAV(1) 58% Thessaloniki 6% €486.4mn 2 Kilkis Greece Attica 98,4% 86,6% 4 Thessaloniki 1 Corfu Portfolio breakdown by Annualized
Slide 9: Investment Portfolio - Selective Investment Properties (1/2)
1 Investment Portfolio - Selective Investment Properties (1/2) The Orbit, Butterfly, Wyndham Grand Hotel (5*), Athens Athens Athens LEED “Platinum” certifications LEED “Gold” certification €85mn €11,5mn €36mn GAV GAV GAV 16,675 sqm 2,286 sqm 23,525 sqm GLA GLA GLA 2019 2019 2016 Completion Compl
Slide 10: Investment Portfolio - Selective Investment Properties (2/2)
1 Investment Portfolio - Selective Investment Properties (2/2) River West & River West Open, IKEA, Mare West, Athens Athens Corinth €88,3mn €53mn €19mn GAV GAV GAV 36,408 sqm 25,170 sqm 13,051 sqm GLA GLA GLA 2021 2008 2015 Completion Completion Completion HOUSEMARKET Various tenants Various tenants
Slide 11: Significant Investments in "Green" Buildings
1 Significant Investments in “Green” Buildings Sustainable development Particular emphasis placed on environmentally friendly and sustainable development (LEED certified buildings, design respecting the adjoining landscape and the local communities’ needs) Compliance with all applicable local an
Slide 12: Strong Tenant Mix
1 Strong Tenant Mix Top 3 Tenants (as of 31.12.2022) Tenant Mix Annualized Rental In terms of 31.12.2022 annualized rental income Tenants Income Lease Expiration 19,6% 16,9% €5.1mn 2033 Total Annualized €4.3mn Various Rental Income 9,9% €25.6mn Other Key Tenants €2.5mn 2034 53,6% €11.9mn All data re
Slide 13: Portfolio Growth Strategy
2 Portfolio Growth Strategy Develop captive Acquire and develop Actively asset pipeline new properties manage existing portfolio • NOVAL PROPERTY owns a • NOVAL PROPERTY has • Lease any remainingvacancies of number of former industrial scanned the Greek market and the core income-producing propertie
Slide 14: Investment Pipeline
2 Investment Pipeline NOVAL PROPERTY has designed and is implementing a strategic and investment growth plan, with promising prospects aimed at enhancing and enriching the balanced mix of its real estate portfolio. Current investment pipeline amounts to €355mn (2023-2029) • Asset Class: 50% Mixe
Slide 15: Investment Pipeline (1/6)
2 Investment Pipeline (1/6) Description GBA Expected Certification 10-12, Chimarras Construction of an office str., Marousi – LEED / complex (through the JV c. 62.000 sqm Development of a “The Grid S.A.”) EU TAXONOMY aligned new office complex 14
Slide 16: Investment Pipeline (2/6)
2 Investment Pipeline (2/6) Description GBA Expected Certification 16, Chimarras str., Marousi – Construction of an additional, new LEED / Construction of office building 20.769 sqm EU TAXONOMY aligned new office building 15
Slide 17: Investment Pipeline (3/6)
2 Investment Pipeline (3/6) Description GBA Expected Certification Ardittou str., Mets Construction of residential & LEED / – Reconstruction office building 4.321 sqm EU TAXONOMY aligned of building 16
Slide 18: Investment Pipeline (4/6)
2 Investment Pipeline (4/6) Description GBA Expected Certification Reconstruction of Construction of sustainable LEED / former industrial logistics buildings 26.927 sqm EU TAXONOMY aligned buildings 17
Slide 19: Investment Pipeline (5/6)
2 Investment Pipeline (5/6) Description GBA Expected Certification 199, Kifissias Ave. LEED GOLD / Marousi – Renovation / refurbishment of an 6.673 sqm NET ZERO CARBON/ Reconstruction of existing office building EU TAXONOMY aligned new office building 18
Slide 20: Investment Pipeline (6/6)
2 Investment Pipeline (6/6) Description GBA Expected Certification 252, Pireos str. – Reconstruction of former LEED/LEED Neighborhood Urban industrial buildings into offices, 72,500(1) sqm Development or BREEAM Regeneration hotel, residences, sports Communities Project facilities and other (e.g., cu
Slide 21: A Strong and Supportive Shareholder
4 A Strong and Supportive Shareholder NOVAL PROPERTY’s Shareholder Other NOVAL PROPERTY’s main shareholder is VIOHALCO. 19,0% VIOHALCO, based in Belgium, is the holding company of various metal processing companies in Europe. VIOHALCO VIOHALCO companies specialize in the manufacture of alumini
Slide 22: Resilient Financials and Credit Profile even during Covid-19 Pandemic
5 Resilient Financials and Credit Profile even during Covid-19 Pandemic COVID-19 impact has led to a reduction in base rental income of €1.5mn for 2020 and €2.5mn for 2021. Key P&L figures (in €mn) Investment Property(1) (in €mn) Total Assets (in €mn) 597,3 484,0 568,0 24,9 416,3 377,0 18,6 398,7 31
Slide 23: Appendix - Financials
Appendix - Financials Me NOVAL PROPERTY
Slide 24: Statement of Financial Position – IFRS
Statement of Financial Position – IFRS Amounts in € ’000s 31.12.2019 31.12.2020 31.12.2021 31.12.2022 Assets Non-current assets Investment property 312,331 377,028 416,293 483,963 Property and equipment 433 539 663 746 Rights of use 1,411 2,596 2,825 2,586 Intangible assets 204 269 247 214 Participa
Slide 25: Income Statement – IFRS
Income Statement – IFRS Amounts in € ’000s 15.10 – 31.12.2019 01.01 – 31.12.2020 01.01 – 31.12.2021 01.01 – 31.12.2022 Continuing Operations Revenue 3,647 13,876 15,937 24,880 Net gain / (loss) from fair value adjustment of investment -290 -4,323 27,475 18,208 property RoU impairment -61 - Direct pr
Slide 26: Cash Flow Statement – IFRS (1/2)
Cash Flow Statement – IFRS (1/2) Amounts in € ’000s 15.10 – 01.01 – 31.12.2020 01.01 – 31.12.2021 01.01 – 31.12.2022 31.12.2019 Operating Activities Profit/(Loss) after tax 740 -1,565 35,204 24,479 Tax 61 324 429 830 Depreciation 32 126 199 204 (Profit)/Loss from derivatives valuation 172 853 -644 -
Slide 27: Cash Flow Statement – IFRS (2/2)
Cash Flow Statement – IFRS (2/2) Amounts in € ’000s 15.10 – 01.01 – 31.12.2020 01.01 – 31.12.2021 01.01 – 31.12.2022 31.12.2019 Investing Activities Acquisition of PP&E -120 -126 -201 -153 Acquisition of intangible assets - -4 -11 - Acquisition of investment property -4,003 -22,474 -12,838 -22,069 P
Slide 28: EBITDA & FFO calculations
EBITDA & FFO calculations EBITDA Amounts in € ’000s 15.10-31.12.2019 01.01-31.12.2020 01.01 – 31.12.2021 01.01 – 31.12.2022 Profit after tax 740 -1,565 35,204 24,479 Plus: Depreciation 32 126 199 204 Plus: Net Finance costs 797 3,945 3,429 5,305 Plus: Taxes 61 324 429 830 Plus: Loss / (profit) from
Slide 29: NAV break-down
NAV break-down Amounts in € ’000s 31.12.2019 31.12.2020 31.12.2021 31.12.2022 Shareholders’ Equity 253,688 281,822 314,904 365,854 Number of Shares 225,359 247,322 247,322 258,316 NAV per share in € 1.13 1.14 1.27 1.42 28 Source: Financial Statements, Prospectus
Slide 30: Glossary
Glossary Financials Earnings Before Interest, Tax, Depreciation and Amortization adjusted for (gain)/loss from fair value 1 Adj. EBITDA adjustment of investment property, gain/loss from impairment on financial assets, (gain)/loss from sale of investment property, non-recurring (income)/expense and (
Slide 31: Disclaimer
Disclaimer Important Notice of Confidentiality and Disclaimer of Liability THIS DOCUMENT MAY ONLY BE USED IN CONJUNCTION WITH AND SUBJECT TO THE TERMS OF THIS NOTICE TERMS OF USE The information contained in this corporate presentation (CP) has been prepared by NOVAL PROPERTY (the Company) for infor
Slide 32: Follow us …
Follow us … https://noval-property.com https://www.linkedin.com/mwlite/company/noval-property