Corestate Capital Holding Sa · XETR:CCAP
Corestate Capital Holding Sa — H1 2022 Earnings Presentation
11 slides from Corestate Capital Holding Sa's earnings presentation, Aug 9, 2022
Slide 1: Results H1-2021 Presentation – Conference Call for Analysts & Investors
RESULTS H1-2021 PRESENTATION – CONFERENCE CALL FOR ANALYSTS & INVESTORS 9 AUGUST 2022 Stavros Efremidis, CEO | Udo Giegerich, CFO | Dr. Kai Gregor Klinger, CMO
Slide 2: Disclaimer
DISCLAIMER This presentation contains forward-looking statements that are Glossary subject to various risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or € = Euro; (F)Y = (financial) plans that are inherently subject to significant risks, as well
Slide 3: Business Summary H1-2022
BUSINESS SUMMARY H1-2022 The European RE industry is facing a challenging macro environment with rising interest rates, inflationary pressure and a strong degree of uncertainty among all market participants Corestate Development Operational Financial ▪ Management strengthens ▪ AuM decrease driven by
Slide 4: The RE Equity Segment
THE RE EQUITY SEGMENT AuMs declined – further outflows scheduled in H2 ▪ RE Equity AuM at € 11.7bn (2021: € 12.4bn) with regular outflows of some commercial assets ▪ Uncertainties on corporate side hamper operating business in terms of new commitments and existing portfolios ▪ Further AuM reduction
Slide 5: The RE Debt Segment
THE RE DEBT SEGMENT The situation at the largest of the Stratos funds will have a significant negative impact on future top-line and profitability of HFS ▪ Total debt AuM dropped from € 4.8bn at the end of 2021 to € 4.1bn1), mainly resulting from lower valuations due to HFS - Debt Fund Structure det
Slide 6: Income Lines Show a Subdued Course in 2022
INCOME LINES SHOW A SUBDUED COURSE IN 2022 Revenue Split 1) in m€ (previous year) H1-2022 H1-2021 Acquisition & Sales Fees 2.7 6.5 ▪ Significant lower transaction volume RE Equity Asset and Property Mgt Fees 21.4 20.2 ▪ Stable, with fees on the prior year level Underwriting & Structuring Fees 1.6 27
Slide 7: Earnings Markedly Impacted by Non-Recurring Items for Risk Provisioning and Impairments
EARNINGS MARKEDLY IMPACTED BY NON-RECURRING ITEMS FOR RISK PROVISIONING AND IMPAIRMENTS Key P&L Figures 1) in m€ ▪ OpEx increased significantly to € 141.4m H1-2022 H1-2021 (€ 42.9m), mainly due to € 106.7m one- Aggregate Revenues & Gains 22.9 98.3 off items from risk provisioning & value Expenses fr
Slide 8: Non-Cash Valuation Adjustments to Reflect the New Reality
NON-CASH VALUATION ADJUSTMENTS TO REFLECT THE NEW REALITY Mandatory accounting measures led to a significant balance sheet cut ▪ Major goodwill impairment on HFS and C-Bank, position dropped from € 487.2m (FY-2021 ) to € 162.1m and intangible assets decreased to € 29.6m from € 84.8m (FY-2021) ▪ Due
Slide 9: Outlook FY-2022
OUTLOOK FY-2022 CURRENT STATUS OF FINANCIAL RESTRUCTURING ▪ Constructive and continuous dialogue with noteholders' representatives of the 2022 and 2023 bonds with the aim to prepare a proposal of resolutions to be agreed at a noteholders' meeting A set of coherent structuring measures paves the way
Slide 10: Financial Calendar
FINANCIAL CALENDAR 9 August 2022 Publication results for H1-2022 8 November 2022 Publication results for 9M-2022 www.corestate-capital.com/share © Copyright Corestate Capital. All rights reserved. 10
Slide 11: Investor Contact
INVESTOR CONTACT Dr. Kai G. Klinger Chief Markets Officer ir@corestate-capital.com
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