Warehouses De Pauw Sa · EURONEXT:WDP
Warehouses De Pauw Sa — Investor Day (September 2023)
8 slides from Warehouses De Pauw Sa's investor day presentation, Sep 13, 2023
Slide 1: Capital Markets Day: Financial Management
CAPITAL MARKETS DAY 13-14 SEPTEMBER FINANCIAL MANAGEMENT
Slide 2: Financing policy
Financing policy Prudent, pro-active and disciplined financial management Key objectives WDP’s financing policy is Proactive management of geared towards optimal mix the capital structure of debt and equity with a Synchronized debt and Diversified sources of funding & focus on adequate liquidity equ
Slide 3: Financing management: Ensuring consistency of financial strategy
Financing management: Ensuring consistency of financial strategy Capital discipline key to sustainable growth As of 30 June 2023 Leverage Download Net debt / EBITDA (adj.)(1) Cost of debt Baa1 BBB+ Loan-to-value 7.3 x 1.9 % Moody’s Fitch(1) 38.3 % Coverage 6.4 Interest Coverage Ratio Hedge ratio Inv
Slide 4: Debt maturity: Solid debt metrics and active liquidity management
01 Solid debt metrics and active liquidity management Debt maturity Capital discipline key to sustainable growth DEBT MATURITIES 71% Green Well-spread debt financing maturities with 6-year debt duration on average Limited long-term debt maturities till end-2024 (ca. 330m euros) Continued solid acces
Slide 5: Hedging profile: Solid debt metrics and active liquidity management
02 Solid debt metrics and active liquidity management Hedging profile EVOLUTION COST OF DEBT Limiting earnings volatility Cost of debt at 1.9% and expected at ~2% end-2023 Fully hedged debt profile limits exposure to EVOLUTION HEDGE RATIO(2) 6y Average further fluctuations in hedge interest rates du
Slide 6: Leverage: Prudent financial policy throughout the cycle
03 Prudent financial policy throughout the cycle Leverage Strict capital discipline and well- balanced capital structure based on Historic policy of not adding leverage against revaluations 38% 5.2% Loan-to-value EPRA NIY ✓ No leverage on historic revaluations ✓ No impact on Net debt / EBITDA ✓ Soli
Slide 7: Financial management driven by cash-flow leverage
03 Financial management driven by cash-flow leverage Leverage Strong track record of issuing equity to calibrate leverage 7.3x 8.2x Net debt / 10-year EBITDA (adj.) average ✓ Real measure of leverage on the business ✓ Within control of management ✓ Not impacted by property valuations ▪ Policy: Net d
Slide 8: Disclaimer
Disclaimer Warehouses De Pauw NV/SA, abbreviated WDP, having its registered office at Blakebergen 15, 1861 Wolvertem (Belgium), is a public regulated real estate company, incorporated under Belgian law and listed on Euronext. This presentation contains forward-looking information, forecasts, beliefs