Noratis AG · FWB:NUVA
Noratis — Investor Presentation (June 2022)
30 slides from Noratis's investor presentation, June 2022
Slide 1: Noratis Company Presentation June 2022
Ww NORATIS
Slide 2: Disclaimer
Disclaimer This document is not a securities prospectus, and the to be correct. In particular, any statements on acquisitions information contained therein does not constitute an offer to presuppose the actual signing of the necessary contracts or the sell, or a solicitation of an offer to buy, secu
Slide 3: Agenda
Agenda 1. Company overview 04 2. Projects 11 3. Market 18 4. Financials 21 5. Outlook 26
Slide 4: 1. Company overview
1. Company overview Location Krefeld
Slide 5: Portfolio developer of residential properties
1. COMPANY OVERVIEW Portfolio developer of residential properties Acquisition Development Focus on housing stocks with po- Increase in value through invest- tential for development in secon- ments and active asset manage- dary locations ment Reinvestment Sales / portfolio Reinvestment of disposal pr
Slide 6: Advantages of our strategic alignment and focus
1. COMPANY OVERVIEW Advantages of our strategic alignment and focus Our focus The reasons Advantages Lot sizes: Too small for institutional investors Better purchasing opportunities due to Preferred lot sizes from 20 to but too big for private investors less competition on the buyer side approx. 300
Slide 7: Our strengths along the value chain
1. COMPANY OVERVIEW Our strengths along the value chain(1) Acquisition Development Sales Established network Team with great expertise in planning Exit strategy with two distribution and managing development measures channels: block sales and sales of individual − Outstanding access to sellers
Slide 8: Business model with an attractive risk-return profile
1. COMPANY OVERVIEW Business model with an attractive risk-return profile combines ... + ... the advantages of a property developer with … Excess return: through realisation of developer margin upon disposal Project Potential: reduction of vacancy rates and increase of rents due to developer dev
Slide 9: Capital markets information
1. COMPANY OVERVIEW Capital markets information(1) Key facts stock Shareholder structure (in %) ISIN / WKN DE000A2E4MK4 / A2E4MK Igor C. Bugarski Ticker symbol NUVA 5.9 Type of shares 4,818,027 no-par value ordinary bearer shares Market capitalisation c. 94,2 m EUR Free float 45.0 Share capital 4,81
Slide 10: Merz Group as anchor investor with a fixed equity commitment
1. COMPANY OVERVIEW Merz Group as anchor investor with a fixed equity commitment Merz Group at a glance Merz as strong shareholder of Noratis Long-term-oriented shareholder Strategic motivation – Noratis Renowned family company with a tradition of over 110 years Accelerated and at the same time
Slide 11: 2. Projects
2. Projects Location Neu-Isenburg
Slide 12: Locations of sold projects and number of residential units
2. PROJECTS Locations of sold projects and number of residential units(1) 1 2 3 4 5 Neu-Isenburg l 197 Bad Homburg l 18 Heddesheim l 16 Ulm l 104 Krefeld l 36 17 21 6 7 8 9 16 Dormagen l 755 Großkrotzenburg l Riedstadt l 24 Zweibrücken l 58 52 5 6 22 14 20 12 11 13 15 2 18 19 8 7 3 10 1 10 11 12 13
Slide 13: Track record: all projects concluded successfully
2. PROJECTS Track record: all projects concluded successfully(1) Project Acquisition Sales completion Duration (months) Units(2) Rental area (in m²) Gross profit margin (in %) Neu-Isenburg May 13 Jan 15 20 12 800 16 Bad Homburg Jan 14 Jul 15 18 18 1,300 19 Heddesheim Jan 12 Dec 15 47 16 1,600 14 Ulm
Slide 14: Locations of current projects and number of residential units
2. PROJECTS Locations of current projects and number of residential units(1) 1 2 3 4 5 Rügen l 142 Gladbeck l 32 Ratzeburg l 229 Celle / Königslutter l Frankfurt / Nieder- 492 rodenbach l 425 1 23 14 3 22 13 20 6 7 8 9 10 9 12 10 18 17 4 Ratingen l 156 Freital l 93 Kassel l 36 Steinfurt / Münster /
Slide 15: Current stock of around 4,200 units
2. PROJECTS Current stock of around 4,200 units(1) Project Strategy Acquisition Units(2) Rental area (in m²) Project Strategy Acquisition Units(2) Rental area (in m²) Dranske (Rügen) Block Apr 17 67 4,600 Leipzig II Block Jun 20 32 2,000 Sagard (Rügen) Block Apr 17 75 4,300 Bensheim I / II Block Jul
Slide 16: Portfolio and book sheet information as of December 31, 2021
2. PROJECTS Portfolio and book sheet information as of December 31, 2021 Portfolio overview as of December 31, 2021 Distribution by region (in % based on m²) Number of assets (in units) 4,212 Bavaria thereof residential (in units) 4,156 4 5 9 Brandenburg thereof commercial (in units) 56 6 6 Bremen N
Slide 17: Outstanding market access with sustainable competitive advantages
2. PROJECTS Outstanding market access with sustainable competitive advantages Incoming offers(1) Competitive advantages Deep market penetration with know-how and network also for small and medium-sized portfolios as well as secondary locations Offers received Flexibility regarding portfolio size. lo
Slide 18: 3. Market
iN 3. Market Coe ay Va aT Dintnin — HIE on st "1 I ra | me nit } a ri Sud men er ae =e Location Leipzig
Slide 19: Residential property market driven by high demand and supply shortage
3. MARKET Residential property market driven by high demand and supply shortage Socio-economic development Completed and required construction activities (in '000 units) Growth in population and households due to immigration, 400 singularisation and rising demand for space per capita Price incre
Slide 20: Stable market segment with sustainable growth potential
3. MARKET Stable market segment with sustainable growth potential Market segment Number of residential units sold (in '000) Trading volume of smaller portfolios (100 to 800 residential units) with 30 400 significantly lower volatility compared to the overall market Relatively stable trading volu
Slide 21: 4. Financials
4. Financials Location Freital
Slide 22: Numbers reflect profitable strategy
4. FINANCIALS Numbers reflect profitable strategy(1) Total revenues (in m EUR) Gross sales profit (in m EUR) Gross rental profit (in m EUR) Rental revenues Sales margin (in %) 12.6 Sales revenues 75,9 Gross sales profit 73,6 41.5 68,0 35.9 12.9 28.6 10.0 6.1 56,1 23.0 22.9 22.5 7.9 7.2 61.9 63.0 28,
Slide 23: Development of NAV per share based on portfolio market values
4. FINANCIALS Development of NAV per share based on portfolio market values in EUR 2017 2018 2019 2020 2021 30.0 27.0 5.9 - 0.5 24.0 2.0 21.0 3.7 30.2 0.6 - 0.6 - 0.4 0.0 18.0 22.8 19.6 15.0 18.5 15.3 12.0 Result Revaluation Revaluation Other NAV Result Dividends Dividends CI NAV NAV NAV NAV (1) His
Slide 24: Accounting only partially takes into account hidden reserves of the properties
4. FINANCIALS Accounting only partially takes into account hidden reserves of the properties Assets Bilanzsumme Aktiva (in m EUR) IFRS IFRS IFRS IFRS IFRS IFRS Equity and liabilities (in m EUR) 2021 2020 2019 2019 2020 2021 Cash and other current short-term assets Shareholders' equity 8.7 Primarily
Slide 25: Loan portfolio and maturity profile as of December 31, 2021
4. FINANCIALS Loan portfolio and maturity profile as of December 31, 2021 Key Facts Financial liabilities (in m EUR) Average interest rate over the entire portfolio of 2.0 % 18.5 Sparkassen Average interest rate incl. hedging and processing fee of 2.4 % 40.0 Average remaining term of 4.3 years
Slide 26: 5. Outlook
5. Outlook Location Neuruppin
Slide 27: Current topics
5. OUTLOOK Current topics Should further increase demand for affordable housing Inflationary pressure increases the risk of a rise in interest rates Ukraine Higher interest rates increase the risk of an economic downturn Possible further impairment of supply chains Level of ancillary costs
Slide 28: Outlook for the 2022 business year
5. OUTLOOK Outlook for the 2022 business year Further growth also expected in 2022 Forecast Significant increase in EBIT and EBT planned Focus on portfolio growth, but careful selection of acquisitions (quality before quantity) Portfolio Further transfers from current to fixed assets planned
Slide 29: Noratis in numbers at a glance
5. OUTLOOK Noratis in numbers at a glance(1) Volume of more than 19.9 bn EUR 310 More than m 63 Acquisition volume received in 2021 m EUR EUR with c. 2,700 units success- 27 pre-tax profit gene- fully sold between 2014 The average project rated between 2014 duration since 2014 and 2021 from acquisit
Slide 30: Noratis AG
Noratis AG Hauptstraße 129 +49 (0)69 170 77 68 20 65760 Eschborn +49 (0)69 170 77 68 24 www.noratis.de info@noratis.de