Hamborner Reit Ag · XETR:HABA
Hamborner Reit — Investor Presentation (June 2024)
41 slides from Hamborner Reit's investor presentation, June 2024
Slide 1: Company Presentation June 2024
Company Presentation June 2024 Office property Ingolstadt
Slide 2: Agenda
1 HAMBORNER at a glance 2 Portfolio Overview 3 Asset/Property Management 4 Financials 5 Sustainability/ESG 6 Appendix Bürogebäude Ratingen
Slide 3: HAMBORNER at a glance
HAMBORNER at a glance Office property ‚Nu-Office‘ Munich
Slide 4: Company profile
Company profile History Company profile ▪ Public commercial property company 1953 Foundation of HAMBORNER ▪ Profitable and diversified German-wide property portfolio ▪ Two-pillar portfolio structure with focus on food-anchored retail and office Listing on stock exchange properties 1954 ▪ Stable and
Slide 5: The HAMBORNER Share
The HAMBORNER Share The HAMBORNER Share Shareholder structure Current share price €6.55 (as of 31 March 2024) Market capitalisation €532.8m (as of 31 March 2024) 12.20% RAG Foundation WKN/ISIN A3H233 / DE000A3H2333 Ticker symbol HABA 81,343,348 6.18% BlackRock shares Class of shares Registered Share
Slide 6: Portfolio Overview
Portfolio Overview Office property Münster
Slide 7: Portfolio Strategy – Target Structure
Portfolio Strategy – Target Structure Retail Portfolio Office Portfolio Manage-to-core properties Manage-to-core properties with 10-20% 10-20% with value-add potential value-add potential Maintaining/extension of core 80-90 % Maintaining/extension of core 80-90% retail portfolio with focus on 80-90%
Slide 8: Portfolio Management Approach
Portfolio Management Approach ▪ Retail Asset classes ▪ Office ▪ Core Risk profile ▪ Manage-to-core ▪ > €10m (retail) Lot size ▪ > €20m (office) ▪ Focus on core investments ▪ Addition of selected manage-to-core properties with larger asset management need (refurbishment, reletting, repositioning etc.
Slide 9: Geographical Portfolio Structure
Geographical Portfolio Structure Geographical Focus (Metropolitan Regions in Germany) Portfolio by Metropolitan Regions (as of 31 March 2024; in % of portfolio value) Metropolitan Region Share of portfolio volume 1 Rhine-Ruhr 21.4% 8 2 Frankfurt Rhine-Main 12.8% 10 9 3 Berlin-Brandenburg 9.4% 3 4 Nu
Slide 10: Portfolio development
Portfolio development 2.000 50 Portfolio value and average property value Comments ▪ Continuous value-adding portfolio growth 1,589 1,625 1,604 1,609 since conversion into a G-REIT in 2010 1,517 40 1.500 1,471 1,471 ▪ Average annual growth rate of 10.7% 1,363 over the last 10 years ▪ Average propert
Slide 11: Acquisitions 2023
Acquisitions 2023 Hanau Offenburg Hanau Offenburg Asset type Retail Retail Investment approach Core Core Year of construction 1997 (refurbished 2017) 2017 Leased area 4,100 m2 13,900 m2 WALT1 12.5 years 7.8 years Offenburg Occupancy rate1 100% 100% Annual rental income1 ~€0.4m ~€1.2m Purchase price
Slide 12: Portfolio revaluation
Portfolio revaluation Portfolio development full-year 2023 Comments ▪ Value development influenced by property Retail Portfolio Office Portfolio Transactions (Like-for-like) (Like-for-like) transactions (+€24.8m) and -10.5% decrease of like- Portfolio value for-like portfolio value (-€169.6m) €1,608
Slide 13: Portfolio key metrics as of 31 March 2024
Portfolio key metrics as of 31 March 2024 Asset class Total portfolio Investment approach Retail % Office % Split Core % Manage-to-Core1 % Number of properties 39 28 67 64 3 Fair Value €836.5m 56.9% €634.5m 43.1% €1,471.0m €1,425.8m 96.9% €45.2m 3.1% Leased area 393,250m² 54,5% 229,343 m² 45.5% 622,
Slide 14: Rent development
Rent development Development of annualized rents (year-on-year)1 +€1.7m -€0.01m €89.7m 0.0% +€1.6m €86.5m +1.9% +1.8% Annualized rents Acquisitions Indexation Re-lettings/ Annualized rents 31 March 2023 Vacancy change 31 March 2024 Rent development like-for-like (year-on-year)1 Asset class Total por
Slide 15: Asset/Property Management
Asset/Property Management Retail property ‚Rondo Steinheim‘ Hanau
Slide 16: Tenant base
Tenant base Top-10 tenants (as of 31 March 2024) Sector distribution (as of 31 March 2024) Tenant Sector Rent1 Sector Rent1 EDEKA Group Food retail 13.4% Food 33.2% Kaufland Group Food retail 7.2% DIY 11.4% REWE Group Food retail / DIY 7.0% IT / Communication 9.6% OBI DIY 6.7% Finance / Insurance 7.
Slide 17: Leasing situation
Leasing situation Weighted average lease expiry (as of 31 March 2024) Letting result Q1 2024 18,995m² 17,188 m² 26% 21% 7.6 years 79% 74% 6.3 years 1,767 m² 4.6 years 20% 80% New lettings Contract extensions Total Retail Office Total Retail Office 30,0% Lease expiry schedule (as of 31 March 2024; in
Slide 18: Letting success Q4 2023
Letting success Q4 2023 Lease renewals OBI DIY stores Aachen Leipzig Hilden Lease area ~11,400 m² Lease area ~11,100 m² Lease area ~10,800 m² Extension +10 years Extension +10 years Extension +5 years Duration 2037 Duration 2034 Duration 2034 Asset/Property Management | 18
Slide 19: Financials
Financials Office property/Medical center Regensburg
Slide 20: Key figures Q1 2024
Key figures Q1 2024 Key figures Q1 2024 Q1 2023 Change Profit and loss statement Income from rents and leases1 €23.4m €22.7m +3.1% Operating result €7.7m €7.7m -0.4% Profit for the period €4.7m €4.5m +4.5% Key operational KPIs Funds from Operations (FFO) €14.0m €13.6m +2.6% Funds from Operations (FF
Slide 21: Funds from operations (FFO)
Funds from operations (FFO) in k€ Q1 2024 Q1 2023 Change Comments 1 Income from rents and leases1 23,445 22,730 +3.1% ▪1 Increase in income from rents and leases Income from passed on costs1 2,804 3,124 -10.2% mainly due to property additions and indexation effects; Operating expenses -5,612 -5,926
Slide 22: EPRA NAV & NTA
EPRA NAV & NTA NAV & NTA development 2024 €14.0m -€0.4m €828.5m -€0.3m €828.2m €814.9m NAV FFO Other effects NAV Intangible NTA 31 Dec 2023 31 March 2024 Assets 31 March 2024 NAV p/s NAV p/s NTA p/s €10.02 +1.7% €10.19 €10.18 Financials | 22
Slide 23: Financial situation
Financial situation Expiration Expirationofoffinancial financialliabilities (as(as liabilities of 31 of March 2024) 2021) 31 December 56.1% REIT equity ratio 42.6% LTV 1.8 % 9.4x Net debt/EBITDA1 19.9% 5.7x 16.4% 15.6% EBITDA/Interest coverage 13.3% 12.4% 8.2% 7.3% €697.7m Financial liabilities 3.1%
Slide 24: Outlook 2024
Outlook 2024 Full-year guidance 2024 Main influencing factors + Stable and reliable cashflows - Uncertainties on letting markets €91.1m - €92.5m - Maintenance expenses (incl. cost shifting from 2023) Rental income + Property additions 2023 - Operating expenses (incl. implementation of strategic + Fu
Slide 25: Sustainability / ESG
Sustainability / ESG Office property Neu-Isenburg
Slide 26: ESG organization
ESG organization Supervisory Board Internal Sustainability Management ▪ Advising and monitoring ▪ Sustainability Committee Supervisory Management Board consisting of Management Board Management Sustainbility & of Management Board Board members and the ESG Officers Board ESG ESG Committee from indivi
Slide 27: ESG strategy
ESG strategy Strategic development and guidelines Key Action Areas ▪ Integration of sustainability/ESG criteria into overall strategy ▪ Implementation of strategic sustainability programme ▪ Planning and controlling of sustainability activities by internal sustainability Corporate Environmental comm
Slide 28: ESG management | Selected activities in key action areas
ESG management | Selected activities in key action areas Key Action Area Selected activities 2023 ▪ Ongoing data management optimisation and database expansion ▪ Extension of carbon footprinting on company and portfolio level Environmental Management ▪ Development of decarbonisation strategy includi
Slide 29: Decarbonisation strategy | CO2e-balance
Decarbonisation strategy | CO2e-balance CO2e-balance for base year 2021 Share of emission sources in the CO2e-balance in tCO2e 42,130 0.5% 28,747 11.0% 7,109 4,415 4,242 16.7% 2,867 4,484 1,820 71.8% 69 38 10 0 131 8 69 0 199 Direct Energy Services, Energy Mobility Tenant Total energy supply materia
Slide 30: Decarbonisation target and milestones
Decarbonisation strategy | Decarbonisation target and milestones Level Scope Target 2030 Target 2045 -50.0% to 28.2 kgCO2e/m2 Reduction of energy related emissions Portfolio Energy related1 Net Zero Greenhouse gas emissions Total Corporate balance The Net Zero targets are associated with a small a
Slide 31: Decarbonisation pathway
Decarbonisation strategy | Decarbonisation pathway Milestones along CRREM decarbonisation pathway1 70 Scope 1, 2, 3 energy related 60 Scope 3 other 50 CRREM V.2, 2°C (cross-portfolio) kgCO2e/m² 40 30 20 10 - BASE YEAR 56.4 TARGET 28.2 -50% 2021 kgCO2e/m² 2030 kgCO2 e/m² BASE YEAR 62.9 TARGET 1.8 -97
Slide 32: Decarbonisation areas of action and cost indication
Decarbonisation strategy | Areas of action and cost indication Cost indication for property and building maintenance Areas of action to reduce emissions Maintenance expenses Modernisation of technical building systems €0.0 – 0.1m €1.0m – €1.5m Ø €1.2m – €1.5m p.a.€1.0m 1 – €1.5m €1.5 – 1.8m Expansio
Slide 33: ESG Ratings
ESG Ratings Company Rating 2021 2022 2023 Sustainability Best Practice No Award No Award Recommondation DVFA Scorecard 58,43 % (sufficient) 75,73 % (good) for Corporate Governance Public Disclosure B B A (93%) Corporate Rating 28,23 (D+) 39,45 (C-) 39,44 (C-) QualityScore (E/S/G)1 5/5/2 5/6/1 6/6/1
Slide 34: Appendix
Appendix Retail Lengerich
Slide 35: Top-10 properties (1/2)
Top-10 properties (1/2) Mannheim Munich Cologne Berlin Karlsruhe Asset type Retail Office Office Office Retail Year of 2016 2013 2017 2013 2012 acquisition Purchase price €80.0m €40.2m €49.0m €33.0m €37.0m Fair value1 €76.0m €63.0m €59.3m €59.1m €52.8m Annual rents €4.0m €2.9m €2.9m €2.8m €2.9m WALT
Slide 36: Top-10 properties (2/2)
Top-10 properties (2/2) Hanau Celle Hallstadt Aachen Tübingen Asset type Retail Retail Retail Office Retail Year of 2017 2015 2017 2020 2012 acquisition Purchase price €37.5m €35.2m €40.4m €37.4m €22.2m Fair value1 €44.6m €40.1m €39.4m €39.3m €33.6m Annual rents €2.3m €2.0m €2.6m €2.3m €1.8m WALT(1)
Slide 37: Portfolio Rotation
Portfolio Rotation Transactions since strategy update in July 20201 Implementation of adjusted strategy 24 disposals since strategy update in Portfolio as of 30 June 2020 Portfolio as of 31 March 2024 2020 Assets 83 Assets 67 Total sales volume of €200.6 with 3.7% Portfolio Volume €1,631m Portfolio
Slide 38: Main requirements for G-REITs
Real Estate Investment Trust (REIT) Main requirements for G-REITs stock exchange > 15% < 10% > 45% > 75% > 75% > 90% listing Free float directly held Equity ratio of assets of earnings payout of profit shares per invested from (German GAAP) shareholder in properties property management Exemption fro
Slide 39: Financial Calendar
Financial Calendar Half-year financial report 2024 8 August 2024 Provisional figures 2024 25 February 2025 Quarterly financial statement Q3 2024 7 November 2024 Annual Report 2024 17 April 2025 Appendix | 39
Slide 40: Contact
Contact Niclas Karoff Sarah Verheyen CEO/CFO COO/CIO E-Mail: n.karoff@hamborner.de E-Mail: s.verheyen@hamborner.de Christoph Heitmann HAMBORNER REIT AG Head of Investor Relations, www.hamborner.de Financing & Corporate Communications info@ir.hamborner.de +49 (0)203/54405-32 E-Mail: c.heitmann@hambor
Slide 41: Disclaimer
This presentation has been prepared and/or issued by HAMBORNER REIT AG (hereinafter "HAMBORNER") solely for information purposes. This presentation may contain statements, assumptions, opinions and predictions about the anticipated future development of HAMBORNER ("forward-looking statements") that