Varia Us Properties Ag · SIX:VARN
Varia Us Properties — H1 2017 Earnings Presentation
26 slides from Varia Us Properties's earnings presentation, Sep 4, 2017
Slide 1: Presentation Half-Year 2017 Results
PRESENTATION HALF-YEAR 2017 RESULTS 1 04/2017 Strictly confidential
Slide 2: Disclaimer
DISCLAIMER NEITHER THE INFORMATION IN THIS DOCUMENT NOR ANY RELATED MATERIALS be placed on, the accuracy, completeness or fairness of the information or opinions MAY BE TAKEN OR TRANSMITTED INTO THE UNITED STATES OR DISTRIBUTED contained herein. None of the Lead Manager, Company or Asset Manager or
Slide 3: Agenda
AGENDA SEPTEMBER 4, 2017 Key achievements Financials HY 2017 Portfolio and pipeline Outlook Q&A 3 Strictly confidential
Slide 4: Today's Speakers
TODAY’S SPEAKER MANUEL LEUTHOLD PATRICK RICHARD ■ Chairman, ■ Delegate of the Board of Varia US Properties AG Directors, Varia US Properties AG ■ Head of US Investments of Stoneweg SA, the Asset Manager of Varia US Properties AG 4 Strictly confidential
Slide 5: Key Achievements
KEY ACHIEVEMENTS 5 04/2017 Strictly confidential
Slide 6: Key Achievements Half-Year 2017
KEY ACHIEVEMENTS HALF-YEAR 2017 ■ Total income up 31.2% to USD 43.3 million – rental income up 50.4% to USD 26.2 million ■ Significant 50% rise in effective gross income to USD 28.4 million ■ Increasing portfolio: Value of property portfolio tops USD 500 million and consists of 47 properties ■ Gross
Slide 7: Varia US Properties at a Glance
VARIA US PROPERTIES AT A GLANCE Geographic breakdown of Varia Properties as of June 30, 2017 ■ Total value of property portfolio of USD 508.1 million ■ 47 assets comprising 7,289 units spread in 17 different States in the US ■ 28.4% of the properties are located in Florida – reduction by 13% compare
Slide 8: Financials HY 2017
FINANCIALS HY 2017 8 04/2017 Strictly confidential
Slide 9: HY 2017 Key Figures
HY 2017 KEY FIGURES 1 Equals HY 2017 EGI divided by 2016 EGI/2 2 Calculated on the weighted average number of ordinary shares outstanding. 9 Strictly confidential
Slide 10: Consolidated Statement of Profit and Loss
CONSOLIDATED STATEMENT OF PROFIT AND LOSS Period from Sept. 28, 2015 In USD million As of June 30, 2017 through Jun. 30, 2016 Rental income 26.2 17.4 Other income 2.1 1.4 Bargain on purchase of subsidiary - 4.2 Net gain from fair value adjustment on invest. property 14.9 10.0 Total income 43.3 33.0
Slide 11: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION Assets in USD million As of June 30, 2017 As of December 31, 2016 Total current assets 68.2 98.0 Total non-current assets 520.3 351.8 Total assets 588.6 449.8 Liabilities and equity in USD million As of June 30, 2017 As of December 31, 2016 Total current
Slide 12: Operating Results
OPERATING RESULTS In USD million As of June 30, 2017 Realized income 28.4 Total Operating expenses (14.9) Net Operating Income 13.5 Finance cost (4.7) Operating results before taxes and exceptional 8.7 Expensed capex (1.6) Exceptional expenses (1.6) Realized operating profit 5.5 Non realized profit
Slide 13: Portfolio and Pipeline
PORTFOLIO AND PIPELINE 13 04/2017 Strictly confidential
Slide 14: Portfolio Summary as of June 30, 2017
PORTFOLIO SUMMARY AS OF JUNE 30, 2017 14 Strictly confidential
Slide 15: 13 New Acquisitions Committed Over the Period
13 NEW ACQUISITIONS COMMITTED OVER THE PERIOD 15 Strictly confidential
Slide 16: Where the New Acquisitions Are Located
WHERE THE NEW ACQUISITIONS ARE LOCATED 16 Strictly confidential
Slide 17: Acquisitions Since Capital Increase (1/3)
ACQUISITIONS SINCE CAPITAL INCREASE (1/3) WOOD HOLLOW CROWN LAKE CITY STATE ACQUISITION DATE CITY STATE ACQUISITION DATE Dallas Texas December 2016 Columbia South Carolina February 2017 NUMBER OF NET LETTABLE GROSS NUMBER OF NET LETTABLE GROSS UNITS AREA POTENTIAL RENT UNITS AREA POTENTIAL RENT 346
Slide 18: Acquisitions Since Capital Increase (2/3)
ACQUISITIONS SINCE CAPITAL INCREASE (2/3) PINE RIDGE BRIDGE HOLLOW CITY STATE ACQUISITION DATE CITY STATE ACQUISITION DATE Bremerton Washington March 2017 Fort Worth (Dallas) Texas March 2017 NUMBER OF NET LETTABLE GROSS NUMBER OF NET LETTABLE GROSS UNITS AREA POTENTIAL RENT UNITS AREA POTENTIAL REN
Slide 19: Acquisitions Since Capital Increase (3/3)
ACQUISITIONS SINCE CAPITAL INCREASE (3/3) DEVONSHIRE ZONA VILLAGE GARDEN & PLACE CITY STATE ACQUISITION DATE CITY STATE ACQUISITION DATE Evansville Indiana April 2017 Tucson Arizona June 2017 NUMBER OF NET LETTABLE GROSS NUMBER OF NET LETTABLE GROSS UNITS AREA POTENTIAL RENT UNITS AREA POTENTIAL REN
Slide 20: Investment Strategy
INVESTMENT STRATEGY THREE INDIVIDUAL INVESTMENT STRATEGIES ■ Investment in US multifamily real estate properties situated in strong urban locations in supply- constrained markets ■ Mid- to long-term investment perspective through three individual investment strategies: A: Value-adding → Acquisition,
Slide 21: Outlook
OUTLOOK 21 04/2017 Strictly confidential
Slide 22: Outlook 2017
OUTLOOK 2017 INVESTMENT → Three additional deals in Kentucky and Arizona will be completed and closed in the third quarter 2017 for a total of USD 95.6 million → Finish launching all the capex investment programs and the value-add strategy in the second semester STRATEGY → Focus on the existing port
Slide 23: Q&A
Q&A 23 04/2017 Strictly confidential
Slide 24: Information
INFORMATION INVESTOR INFORMATION CONTACT INFORMATION Listing: SIX Swiss Exchange Michael Dueringer Currency: USD Investor Relations / Corporate Ticker symbol: VARN Communications ISIN: CH 030 528 529 5 Phone: +41 43 244 81 42 Listing date: December 8, 2016 E-mail: investors@variausproperties.com FIN
Slide 25: Varia on the SIX Swiss Exchange
VARIA ON THE SIX SWISS EXCHANGE STOCK DETAILS PERFORMANCE Listing SIX Swiss Exchange High 43.95 08.05.2017 Ticker symbol VARN Low 35.00 Swiss security number 30 528 529 22.02.2017 ISIN CH 030 528 529 5 Price change (1HY 2017) 15.57% Product type Mid & small caps Swiss shares Average volume 1,893 Sec
Slide 26: Thank You for Your Attention
THANK YOU FOR YOUR ATTENTION 26 04/2017 Strictly confidential