Patrizia Se · XETR:PAT

Patrizia — PATRIZIA Immobilien — FY2016 Earnings Presentation

19 slides from Patrizia's earnings presentation, Mar 14, 2017

  1. Slide 1: FY 2016 Results Presentation

    PATRIZIA The European Real Estate Investment Company FY 2016 Results Presentation 14 March, 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 RESULTS HIGHLIGHTS ASSETS UNDER MANAGEMENT (in EUR billion)  2016 – promised and delivered  AuM growth target of EUR 2.0bn achieved 18.6 20.6  Operating income of EUR 283.2m outperformed 14.6 16.6 increased target of at least EUR 265m 11.8 

  3. Slide 3: PATRIZIA continues on its growth path

    PATRIZIA continues on its growth path ASSETS UNDER MANAGEMENT ASSET MANAGEMENT FEE INCOME (in EUR billion) (in EUR million) 18.6 89.1 16.6 81.5 14.6 68.1 11.8 50.1 6.9 35.6 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 EQUITY RAISED TOTAL RECURRING FEE INCOME (in EUR billion) (in EUR million) 8.

  4. Slide 4: Successful transformation of volatile investment to stable fee income

    Successful transformation of volatile investment to stable fee income  Fee income from investment management services is consistently and sustainably increasing  Sales proceeds from own assets held on the balance sheet, is steadily diminishing  Co-investment income continues to deliver attractive

  5. Slide 5: Strong operational FY 2016 reflected in financial results

    Strong operational FY 2016 reflected in financial results ADJUSTED OPERATING INCOME* (in EUR million) Third Party Business Fees Adjusted Management Income* +57.9% Regulated Funds Single Asset Mandates 78.5  Institutional Investors 49.7  Private Investors  Co-Investments 2015 2016 Equity Investmen

  6. Slide 6: Strong fee development shows scalability of PATRIZIA's platform

    Strong fee development shows scalability of PATRIZIA’s platform STEADY RISE OF FEE INCOME CONTINUES FEE INCOME  Total adjusted fee income up 14.2% to (in EUR million) EUR 188.6m 268.6 CAGR  5-year growth progress continues in 2016; 103.4 2012-2016 on average… +14.2% +26.9%  +25.8% p.a. fully recu

  7. Slide 7: Rise in AuM increases recurring asset management fee income…

    Rise in AuM increases recurring asset management fee income… ASSET MANAGEMENT FEES STEADILY IMPROVING ASSETS UNDER MANAGEMENT (in EUR billion)  PATRIZIA receives recurring service fees for managing real estate assets from more than 18.6 16.6 200 international investors 14.6 11.8  Fee income is ste

  8. Slide 8: …with transaction fees as a consistent part of total income…

    …with transaction fees as a consistent part of total income… TRANSACTION FEES UP 19.8% IN 2016 TRANSACTION VOLUME 7.2 (in EUR billion) Ø EUR  With transactions of EUR 5.1bn completed in 2016 4.8 3.0 5.1 4.9bn PATRIZIA stays above its long-term average 0.5 4.1 1.9 3.2 0.7  Thereof acquisitions of E

  9. Slide 9: …and performance fees confirming PATRIZIA's track record

    …and performance fees confirming PATRIZIA’s track record PERFORMANCE FEE IS BECOMING 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  Return hurdles largely relat

  10. Slide 10: Positioned to capture opportunities via balance sheet strength

    Positioned to capture opportunities via balance sheet strength  PATRIZIA is conscious that the company’s balance sheet is relatively underlevered  Available cash alone is approaching EUR 400m  PATRIZIA has only been in this position for less than one year and wants to keep its options open to res

  11. Slide 11: Outlook 2017 – Operating Income of EUR 60m to EUR 75m

    Outlook 2017 – Operating Income of EUR 60m to EUR 75m ASSUMPTIONS INCOME BRIDGE  Asset management fees based on average (in EUR million) AuM EUR 19.5bn — EUR 20.5bn  Transaction volume EUR 4.0bn — EUR 5.5bn -148  Investment income: remaining principal 39 — investments and income from participatio

  12. Slide 12: PATRIZIA's strategic bridge to the future

    PATRIZIA’s strategic bridge to the future ASSETS UNDER MANAGEMENT (in EUR billion) VISION  Deploy cash Completed transformation Realise M&A to a leading European Real Estate  PATRIZIA – Investment Manager ~30 the global provider of 18.6  Continue European expansion European real  Broaden product

  13. Slide 13: APPENDIX

    APPENDIX PATRIZIA Immobilien AG| © 2017 13

  14. Slide 14: Consolidated Income Statement FY 2016 – adjusted

    Consolidated Income Statement FY 2016 – adjusted* adjusted* adjusted* 12 months 2016 12 months 2015 EUR'000 01/01-12/31/2016 01/01-12/31/2015 Revenues 325,417 338,681 Income from the sale of investment property 1,542 10,075 Changes in inventories -115,133 -166,951 Other operating income 9,903 11,010

  15. Slide 15: Consolidated Balance Sheet FY 2016 – assets

    Consolidated Balance Sheet FY 2016 – assets ASSETS in EUR'000 12/31/2016 12/31/2015 A. Non-current assets Goodwill 610 610 Other intangible assets 35,416 37,417 Software 10,772 9,225 Investment property 12,226 20,802 Equipment 4,460 5,015 Participations in associated companies 85,923 88,179 Particip

  16. Slide 16: Balance sheet FY 2016 – equity/liabilities

    Balance sheet FY 2016 – equity/liabilities EQUITY AND LIABILITIES in EUR'000 12/31/2016 12/31/2015 A. Equity Share capital 83,956 76,324 Capital reserve 184,005 191,637 Retained earnings Legal reserves 505 505 Non-controlling shareholders 1,691 18,190 Currency translation differences -10,803 -869 Co

  17. Slide 17: Sale of Harald completed

    Sale of Harald completed HARALD EARNINGS CONTRIBUTION HARALD EARNINGS BRIDGE  Operating income of EUR 211.0m (in EUR million) As of 31 December 2016 excluding transaction related taxes and minorities  PATRIZIA will remain shareholder with a 5.1% stake and receive an annual dividend of EUR 0.8m -43

  18. Slide 18: Financial calendar

    Financial calendar 2017 March 14  Financial Statements 2016 May 10  Interim report for the first quarter of 2017 June 22  Annual General Meeting, Augsburg August 4  Interim report for the first half of 2017 November 7  Interim report for the first nine months of 2017 Conference calls about fina

  19. Slide 19: Contact details

    Contact details KARIM BOHN MICHAEL TEGEDER LAURA WANZL CFO 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 Augsburg

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