Care Property Invest Sa · EURONEXT:CPINV
Care Property Invest Sa — IPO Roadshow (June 2015)
32 slides from Care Property Invest Sa's IPO roadshow presentation, June 2015
Slide 1: Towards the future
Towards the future Roadshow Presentation June 2015
Slide 2: Disclaimer
Disclaimer “This presentation has been prepared by the management of Care Property Invest (or the “Company” ) solely for use by you at the investor presentations. “Presentation” means this document, any oral presentation, the question and answer session and any written or oral material discussed or
Slide 3: Today’s presenter
Today’s presenter Peter Van Heukelom • CEO of Care Property Invest since September 2009 • Director of Serviceflats Invest since June 2003 • General Manager Public Finance at KBC Bank from 1996 to 2009 • Manager Marketing and Sales at Dexia from 1988 to 1996 • Sales Manager at Mercator Verzekeringen
Slide 4: Agenda
Agenda 1 Serviceflats Invest, the core business 2 Care Property Invest, the new business model 3 Corporate governance and management structure 4 Financials 5 Care Property Invest share 6 Investment highlights 7 Overview of key offering terms Page 4
Slide 5: Serviceflats Invest, the core business
Serviceflats Invest, the core business 5
Slide 6: 20 years of experience
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering 20 years of experience • Serviceflats Invest: first BEVAK founded 30/10/1995 • Initiative of the Flemish government • Building and financing of 2,000 qualitative and affordable service flats target
Slide 7: Advantageous for both investors and partners
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering Advantageous for both investors and partners • For the retail investors in the IPO(1) • Exemption of succession rights • Priority living right (until 2020) • WHT exemption (15% from 2013, while nor
Slide 8: Similar low-risk investment structure across all 76 projects
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering Similar low-risk investment structure across all 76 projects Design-Build-Finance (DBF) structure • Local PCSW grants building right on their grounds to General contractor and architect Serviceflat
Slide 9: Triple net leasehold contracts provide low risk and high visibility
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering Triple net leasehold contracts provide low risk and high visibility • Annual adjustment of the canon to consumer price index increases • 100% leasehold remuneration / canon • De facto occupancy of
Slide 10: Counterparties and matched debt maturities provide low risk and high visibility
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering Counterparties and matched debt maturities provide low risk and high visibility • Solvency profile of tenants(1): • Subsidy stream on blocked account used to partially reimburse Serviceflats Invest
Slide 11: 76 projects well spread across Flanders
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering 76 projects well spread across Flanders Occupancy rate Tenants(1) Geographical overview(2) Non-Profit Limburg Organizations 15% Antwerp (NPOs or 29% Occupancy rate caritatieve Flemish- 100% Public
Slide 12: Successful development track record
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering Successful development track record • Supervision and monitoring of the entire project from start to delivery with turnkey contract • Serviceflats Invest coordinates every aspect during the entire
Slide 13: Care Property Invest, the new business model
Care Property Invest, the new business model 13
Slide 14: Clear vision of growth for the future (1/2)
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering Clear vision of growth for the future (1/2) • Keep and monetize know-how of Care Property Invest • Increasing demand from the care sector • B-REIT status and corporate purpose offer interesting pla
Slide 15: Clear vision of growth for the future (2/2)
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering Clear vision of growth for the future (2/2) • The interests of the residents are put first • Care Property Invest stands for residential care tailored to the public • Affordable for the middle clas
Slide 16: Favourable demographics push increasing need for residential care
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering Favourable demographics push increasing need for residential care Demographic vision 2013-2030-2060 of Projected prevalence and number of older persons in Belgium’s High Council Of Finance (July 20
Slide 17: Business model
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering Business model Design-Build-Finance Joint DBFMO efforts Own developments Purchase existing sites (Maintain) ≈ Serviceflats Invest model(1) • Land with building right of ≥ 30y • Joint DBFMO efforts
Slide 18: Building the pipeline
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering Building the pipeline Lanaken Moerbeke Gullegem • 122 licensed nursing home beds • 22 assisted living units • 15 assisted living units • Expected investment of EUR 19m upon • Investment of EUR 3.6m
Slide 19: Corporate governance and management structure
Corporate governance and management structure 19
Slide 20: Executive management involved since inception
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering Executive management involved since inception Dirk Van den Peter Van Willy Pintens Broeck Heukelom Managing Managing CEO Executive Director Executive Director 12 Years 20 Years 29 Years experience
Slide 21: Board of directors and shareholding structure
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering Board of directors and shareholding structure Name Executive / Independent Representing Category Amount % % Non-Executive (31/12/2014) (# of shares) (pref. shares) (total shares) Mark Suykens Chair
Slide 22: Financials
ss] 5 pouaity Invest Financials
Slide 23: Key Figures: P&L statement
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering Key Figures: P&L statement Full-year Q1 Canon payments EUR 2012 2013 2014 2014 2015 are indexed yearly Net rental income 9,557,992 12,304,395 12,786,087 3,130,400 3,279,180 and are due Corporate ma
Slide 24: Key Figures: Balance sheet
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering Key Figures: Balance sheet Full-year Q1 EUR 2012 2013 2014 2015 Nominal investment cost of the projects is booked as a receivable financial lease Receivables financial lease 147,601,128 149,353,144
Slide 25: Care Property Invest share
Care Property Invest share 25
Slide 26: An appealing track record
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering An appealing track record Since 2000 Since 2010 20 200 18 16 180 14 160 12 10 140 8 6 120 4 100 2 0 80 2000 2003 2006 2009 2012 2015 2010 2011 2012 2013 2014 2015 Care Property Invest Aedifica Care
Slide 27: A dividend growth story
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering A dividend growth story Gross dividend (EUR per share) since IPO 0.63 0.63 0.63 0.55 0.49 0.49 0.51 0.51 0.51 0.51 0.46 0.47 0.48 0.39 0.41 0.34 0.34 0.35 0.30 0.30 1996 1997 1998 1999 2000 2001 20
Slide 28: Investment highlights
ssi 5 pouaity Invest Investment highlights
Slide 29: Investment highlights
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering Investment highlights 5 1 Experienced management High visibility / certainty on existing cash flows Executive management involved since inception of CPI in 1995 Long duration of leasehold contr
Slide 30: Offering Structure & Modalities
Offering Structure & Modalities 30
Slide 31: Offering Structure & Modalities
Serviceflats Invest Care Property Invest Corp. governance Financials The CPI share Highlights Offering Offering Structure & Modalities The offering consists of a transaction with annulment of statutory preferential rights but with the allowance of an irreducible priority allocation right cfr Article
Slide 32: Peter Van Heukelom, CEO
Peter Van Heukelom CEO peter.vanheukelom@carepropertyinvest.be +32 3 222 94 94 Care Property Invest NV Horstebaan 3 2900 Schoten 32