Patrizia Se · XETR:PAT

Patrizia — PATRIZIA Immobilien — 9M 2017 Earnings Presentation

21 slides from Patrizia's earnings presentation, Nov 13, 2017

  1. Slide 1: PATRIZIA 9M 2017 Results Presentation

    PATRIZIA The European Real Estate Investment Company 9M 2017 Results Presentation 13 November 2017 PATRIZIA Immobilien AG PATRIZIA Bürohaus | Fuggerstrasse 26 | 86150 Augsburg | T +49 821 50910-000 | F +49 821 50910-999 | immobilien@patrizia.ag | www.patrizia.ag

  2. Slide 2: PATRIZIA – The European Real Estate Investment Company

    PATRIZIA – The European Real Estate Investment Company HIGHLIGHTS ASSETS UNDER MANAGEMENT (in EUR billion)  Strong results in the first nine months of 2017 20.6 confirm strategic growth path 20.5   Assets under management increased by 18.6 16.6 EUR 1.9bn to EUR 20.5bn 14.6 11.8  Operating income

  3. Slide 3: 9M/17 results confirm sustainable earnings growth

    9M/17 results confirm sustainable earnings growth Third-party business Fees − Opex Management income +4.8% Regulated funds Single asset mandates 64.3 61.3  Institutional investors  Private investors  Co-investments 9M/16 9M/17 Return on Equity investments equity − Opex Investment income -12.6% Co

  4. Slide 4: Pan-European platform drives diversified income streams

    Pan-European platform drives diversified income streams DEVELOPMENT OF FEE STREAMS TOTAL SERVICE FEE INCOME  Increasing service fee income confirms scalability (in EUR million) +5.2% 128.8 122.4 of PATRIZIA’s platform 6.9 30.7 48.6 31.4  Total service fee income up 5.2% to EUR 128.8m 66.8 66.7  S

  5. Slide 5: AUM growth translates into recurring management fees…

    AUM growth translates into recurring management fees… STEADILY GROWING MANAGEMENT FEES ASSETS UNDER MANAGEMENT (in EUR billion)  PATRIZIA receives recurring service fees for managing real estate assets for more than 20.6 20.5  18.6 200 international investors 16.6 14.6  Fee income is steadily gro

  6. Slide 6: …with transaction fees remaining a consistent part of total income…

    …with transaction fees remaining a consistent part of total income… TRANSACTION FEES EXPECTED TO MAKE UP LEEWAY TRANSACTION VOLUME 7.2 IN Q4 2017 (in EUR billion) Ø EUR 4.8 3.0 5.1 4.9bn  Transactions worth EUR 3.0bn completed in the 0.5 4.1 1.9 first nine months of 2017 3.2 0.7 3.0 0.6 0.8  Promi

  7. Slide 7: …and performance fees emphasising PATRIZIA’s track record

    …and performance fees emphasising PATRIZIA’s track record PERFORMANCE FEES AS RELIABLE PART OF ANNUAL FEE STREAM PERFORMANCE FEES (in EUR million)  Third-party funds and co-investments generate performance fees upon exceeding pre-determined return hurdles 128.4  EUR 30.7m of performance fees in th

  8. Slide 8: Successful evolution to significant recurring fee based cash flow

    Successful evolution to significant recurring fee based cash flow  Recurring fee income from investment management services represents 87% of total income  Sales proceeds from own assets held on the balance sheet are phasing out  Co-investment income continues to deliver an attractive return on e

  9. Slide 9: Full-year operating income expected to slightly surpass EUR 75m

    Full-year operating income expected to slightly surpass EUR 75m INCREASED EARNINGS GUIDANCE FOR 2017 INCOME BRIDGE  Operating income of slightly above EUR 75m (in EUR million) expected, compared to previous range of EUR 60m to EUR 75m 39  Increase caused by higher than expected 38 performance fees

  10. Slide 10: Evolution to the global provider of European real estate

    Evolution to the global provider of European real estate ASSETS UNDER MANAGEMENT (in EUR billion)  Deploy cash Completed transformation  Realise M&A to a leading European Real Estate Investment Manager ~30 VISION 20.5  Continue European expansion  Broaden product portfolio  Expand international

  11. Slide 11: PATRIZIA is prudently pursuing M&A opportunities

    PATRIZIA is prudently pursuing M&A opportunities  Acquire and integrate complementary platforms sharing the same vision and business strategy GOALS  Add value and expertise through closing gaps in existing capabilities  Selective co-investments where strategically relevant and economically reason

  12. Slide 12: TRIUVA at a glance – Closing of acquisition expected in Q1 2018

    TRIUVA at a glance – Closing of acquisition expected in Q1 2018 KEY FACTS COMPANY EUROPEAN PLATFORM 15 200 11 More than 40 years of experience across Europe within real estate Offices Employees Countries INVESTORS POWERFUL INSTITUTIONAL INVESTOR BASE More than 80 German speaking institutional invest

  13. Slide 13: Appendix

    Appendix PATRIZIA Immobilien AG| © 2017 13

  14. Slide 14: Consolidated Income Statement for the first nine months of 2017

    Consolidated Income Statement for the first nine months of 2017 9 months 2017 9 months 2016* EURk 01.01.-30.09.2017 01.01.-30.09.2016 Revenues 163,006 163,935 Income from the sale of investment property 268 1,153 Changes in inventories -19,359 -20,617 Other operating income 13,152 6,330 Income from

  15. Slide 15: Consolidated Balance Sheet as of 30.09.17 – Assets

    Consolidated Balance Sheet as of 30.09.17 – Assets ASSETS in EURk 30.09.2017 31.12.2016 A. Non-current assets Goodwill 610 610 Other intangible assets 33,922 35,416 Software 10,769 10,772 Investment property 9,627 12,226 Equipment 4,768 4,460 Participations in associated companies 83,742 85,923 Part

  16. Slide 16: Consolidated Balance Sheet as of 30.09.17 – Equity and Liabilities

    Consolidated Balance Sheet as of 30.09.17 – Equity and Liabilities EQUITY AND LIABILITIES in EURk 30.09.2017 31.12.2016 A. Equity Share capital 90,142 83,956 Capital reserve 139,402 184,005 Retained earnings Legal reserves 505 505 Non-controlling shareholders 1,691 1,691 Currency translation differe

  17. Slide 17: Successful completion of share buy-backs

    Successful completion of share buy-backs  Key rationale: Use shares as additional M&A currency  Increase flexibility in purchase price consideration  Avoid dilution of existing shareholders RATIONALE  Align goals of target’s existing management team with PATRIZIA  Other options include cancella

  18. Slide 18: Sparinvest Property Investors (SPI) – Investment Rationale

    Sparinvest Property Investors (SPI) – Investment Rationale Through SPI PATRIZIA acquires not only a profitable business with solid performance track record but in addition secures three strategic advantages: Acquisition rationale New products New clients New profits • Fund of funds products for • Ac

  19. Slide 19: Sparinvest Property Investors (SPI) – Company Overview

    Sparinvest Property Investors (SPI) – Company Overview COMPANY KEY POINTS THE BUSINESS – GLOBAL FUND OF FUNDS OFFERING FUND OVERVIEW  SPI's business model is to provide portfolio management services Fund*** SPF SPF II SPF III SPF IV* within the fund of funds business (FoF)  One of the leading glob

  20. Slide 20: Financial calendar

    Financial calendar 2018 March 15  Financial statements 2017 May 9  Interim report for the first quarter of 2018 June 20  Annual General Meeting, Augsburg August 7  Interim report for the first half of 2018 November 14  Interim report for the first nine months of 2018 Conference calls about fina

  21. Slide 21: Contact details

    Contact details KARIM BOHN MARTIN PRAUM LAURA WANZL CFO GROUP HEAD OF IR MANAGER IR PATRIZIA Immobilien AG PATRIZIA Immobilien AG PATRIZIA Immobilien AG PATRIZIA Bürohaus PATRIZIA Bürohaus PATRIZIA Bürohaus Fuggerstrasse 26 Fuggerstrasse 26 Fuggerstrasse 26 86150 Augsburg 86150 Augsburg 86150 Augsbu

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