Slide 1: Half Year Results 2022
Half Year Results 2022 18 Augustus 2022 www.nextensa.eu
Slide 2: Table of Contents
TABLE OF CONTENTS CHAPTER 01 CHAPTER 06 Nextensa at a Glance Conclusions CHAPTER 02 Investment portfolio & strategy CHAPTER 03 Development portfolio CHAPTER 04 Investment strategy & Future CHAPTER 05 Key financials & Funding
Slide 3: Chapter 01: Nextensa at a Glance
CHAPTER 01 NEXTENSA AT A GLANCE
Slide 4: Nextensa in a Nutshell
CHA. 01 – N E X T E N S A A T A G L A N C E NEXTENSA IN A NUTSHELL Nextensa is a leading Belgian Real Estate investor and developer whose mission is to create “Places YOU prefer” MISSION INVESTMENT HIGHLIGHTS Nextensa is an out-of-the-box real estate investor and - Developing Asset manager – control
Slide 5: Nextensa at a Glance: Key Figures
CHA. 01 – N E X T E N S A A T A G L A N C E INVESTMENTS PROJECT DEVELOPMENT PARTICIPATION Number of IN CONSTRUCTION PERMITS ACQUIRED IN STUDY Retail Estates 32 buildings 1 351 320 Residential m2 shares 476 000 Value 36 520 29 287 N/A 32 401 93 000 12 000 €92,0 mio Fair value €1,262 billion m2 m² m2
Slide 6: Investment Highlights
CHA. 01 – N E X T E N S A A T A G L A N C E A UNIQUE COMBINATION OF A REAL ESTATE INVESTOR AND AN INDUSTRY LEADING DEVELOPER. MARKET BUSINESS PROFILE Well-positioned for growth in Unique business profile combining an attractive and developped iconic high-return real estate portfolio INVESTEMENT HIGH
Slide 7: Nextensa as a Developing Real Estate Manager
CHA. 01 – N E X T E N S A A T A G L A N C E The real reasons of the merge of Leasinvest & Extensa • More Active as a developer to realize added value • Enlarging the Asset Classes to residential & event related • More flexibility in portfolio rotation • Mixed use developments and creating neighborho
Slide 8: Our Ambition: Leading by Example
CHA. 01 – N E X T E N S A A T A G L A N C E OUR AMBITION: LEADING BY EXAMPLE We aim to excell in sustainable urban real estate investments and developments by creating places our clients prefer to live, work, shop, relax. Preferred places : Are climate adaptive: by location and through technological
Slide 9: Chapter 02: Investment Portfolio & Strategy
CHAPTER 02 Investment Portfolio & Strategy Project Highlights
Slide 10: Investment Portfolio: Project Highlights
INVESTMENT PORTFOLIO PROJECT HIGHLIGHTS
Slide 11: KPIs of the Portfolio
CHA. 02 – I N V E S T M E N T P O R T F O L I O – P R O J E C T H I G H L I G H T S KPI ‘s of the portfolio The Estate Tour & Taxis Gare Maritime Gare Maritime – Food Market Sheds Maison de la Poste Moonar - Luxemburg Knauf Schmiede – Luxemburg Hangar 26/27 - Antwerpen 1 1 l N E X T E N S A B U S I
Slide 12: KPIs of Our Investment Portfolio
CHA. 02 – KPI’s of our investment portfolio 1 2 l N E X T E N S A B U S I N E S S S T R A T E G Y
Slide 13: Tour & Taxis
CHA. 02 – T h e E s t a t e TOUR & TAXIS 1 3 l N E X T E N S A B U S I N E S S S T R A T E G Y
Slide 14: Tour & Taxis
CHA. 02 – T h e E s t a t e TOUR & TAXIS RESIDENTIAL Hôtel des Douanes & OFFICES Gare Maritime Hôtel de la poste Herman Teirlinck BRUSSELS Residential ENVIRONMENT Sheds Park Entrepôt Royal 1 4 l N E X T E N S A B U S I N E S S S T R A T E G Y
Slide 15: Gare Maritime
CHA. 02 – P R O J E C T H I G H L I G H T S GARE MARITIME • Brussels (BE) • Mixed-use • 51.181 sqm • Current rental income 6.6 mio €/year • Expected additional rental income of 2.7 mio € • Multi tenants : Accenture, Spaces, Universal Music, BSH, Bruxelles Formation, Collibra, Publicis, Unicef • Attr
Slide 16: Gare Maritime Food Market
CHA. 02 – P R O J E C T H I G H L I G H T S GARE MARITIME FOOD MARKET The Gare Maritime Food Market is a showcase of the Belgian gastronomy around featuring the Belgian terroir with 10 new street food concepts by 10 top chefs. It is a playground for culinary experience and events that enhances a loc
Slide 17: Gare Maritime: Atrium, Events & Conference Room
CHA. 02 – P R O J E C T H I G H L I G H T S GARE MARITIME: Atrium & Events & Conference room • The Atrium in The Gare Maritime Food Market the attractive pool to get the site more alive. • Different events has happened as Bike Trade, Voka, FOT, and the World Tour Padel with an estimated revenue of 3
Slide 18: Sheds
CHA. 02 – P R O J E C T H I G H L I G H T S SHEDS • Event Venue • 17 275 sqm above ground + 11.420 sqm underground • Brafa left but aiming for leases with fixed terms • Expected rental income of 1,8 mio € by early 2024 • Extra investment of 2 mio € 100 000 € 80 000 € Evolution budget 60 000 € 40 000
Slide 19: Rental Situation Sheds
CHA. 02 – P R O J E C T H I G H L I G H T S RENTAL SITUATION SHEDS UNDER NEGOTIATION UNDER NEGOTIATION 1 9 l N E X T E N S A B U S I N E S S S T R A T E G Y
Slide 20: Moonar
CHA. 02 – P R O J E C T H I G H L I G H T S MOONAR Luxembourg Airport Office 22.000 sqm ( 5 buildings) New redevelopment. Rental income of 5.7 mio € Expected to rise to 8.5 mio € by early 2025 Investment of 34 mio € - Renovation Final delivery building Q4/ 2023 2 0 l N E X T E N S A B U S I N E S S
Slide 21: Schmiede
CHA. 02 – P R O J E C T H I G H L I G H T S SCHMIEDE Luxembourg (LU) Shopping center of 25,500 sqm 8.500 sqm of extension Investment of 28.4 mio € / cost spent 19 mio € Total rental income of 5.5 mio € Expected rental income 6.5 mio € by end of 2023 A part of the shopping under refurbishment End of
Slide 22: Hangar 26/27
CHA. 02 – P R O J E C T H I G H L I G H T S CHA. 02 – P R O J E C T H I G H L I G H T S HANGAR 26/27 Antwerp (BE) Heavy refurbishment of office building (+/-8,000 sqm) End of works estimated Q3 2022 Total rental income of 1.4 mio € Potential to extend the building to +/- 16,000 sqm, subject to RUP R
Slide 23: Sales Program: The Crescent and The Monnet
CHA. 02 – S A L E S P R O G R A M THE CRESCENT THE MONNET As it is our mandate to lower the debt of the portfolio, we started the sales program to reach a debt reduction between 250 and 300 mio €. The loss of rent linked to this sales program will have an impact of 7 mio €. However, we expect to com
Slide 24: Sales Program: Titanium
CHA. 02 – S A L E S P R O G R A M THE CRESCENT T H E M OCNFNME TT I T A N I U M A sales agreement has been reached with Codic to sell the Titanium building to Codic at the end of the year. Site of 2,5 ha, with 5,000 m² of office, logistics of 11,000 m² and retail of 1,600 m². Building was bought in
Slide 25: Timeline Belgium & Luxembourg Investment
CHA. 02 – T I M E L I N E B E L G I U M & L U X E M B O U R G I N V E S T M E N T 2022 2023 2024 2025 2026 ✓ Sales Monnet ✓ First lease ✓ Vacancy ✓ Gare ✓ Strassen start (Feb) Moonar Batiself Maritime construction ✓ Sales Titanium ✓ Montimmo ✓ Hotel des 100% let (dec) 100% let Douanes 100% let ✓ Sal
Slide 26: Chapter 03: Development Portfolio & Strategy
CHAPTER 03 Development Portfolio & Strategy
Slide 27: Development Portfolio: Project Highlights
DEVELOPMENT PORTFOLIO PROJECT HIGHLIGHTS
Slide 28: Development Portfolio Projects
CHA. 03 – D E V E L O P M E N T P O R T F O L I O – P R O J E C T H I G H L I G H T S Monteco (BE) Tour & Taxis – Park Lane I (BE) Tour & Taxis – Park Lane II (BE) Tour & Taxis – Lake Side (BE) Cloche d’Or - a mixed-use project (LU) 2 8 l N E X T E N S A B U S I N E S S S T R A T E G Y
Slide 29: Monteco
CHA. 03 – P R O J E C T H I G H L I G H T S MONTECO Brussels (BE) Office – First Wooden building in Quartier Leopold 3.674 sqm Budget of 28 mio € (including land) / cost spent 23 mio € Delivered in December Let to Bank Nagelmackers for a 12 years lease 2 9 l N E X T E N S A B U S I N E S S S T R A T
Slide 30: Monteco (BE)
CHA. 03 – P R O J E C T H I G H L I G H T S – M O N T E C O ( B E ) 3 0 l N E X T E N S A B U S I N E S S S T R A T E G Y
Slide 31: Development Portfolio: Park Lane Phase I
DEVELOPMENT PORTFOLIO PARK LANE PHASE I
Slide 32: Park Lane I
CHA. 03 – P R O J E C T H I G H L I G H T S PARK LANE I Brussels (BE) Residential Construction 2019-2022 434 apartments 921 parking spaces 6 commercial units All apartments have been delivered 3 2 l N E X T E N S A B U S I N E S S S T R A T E G Y
Slide 33: Park Lane Phase 1 Program
CHA. 03 – P R O J E C T H I G H L I G H T S – P A R K L A N E P H A S E 1 - P R O G R A M 3 3 l N E X T E N S A B U S I N E S S S T R A T E G Y
Slide 34: Development Portfolio: Park Lane Phase II
DEVELOPMENT PORTFOLIO PARK LANE PHASE II
Slide 35: Parklane II
CHA. 03 – P R O J E C T H I G H L I G H T S PARKLANE II Brussels (BE) Residential 352 units – 36,500 sqm - 11 buildings 252 underground private parking spaces : Ratio of 0,76 car/apartment 685 Bike Parking : Ratio of 1,94 bike/apartment Permit was obtained in 2021 Works have started in May 2022 3 5
Slide 36: 70 Apartments of Phase II A Are Sold
CHA. 03 – P R O J E C T H I G H L I G H T S – P A R K L A N E P H A S E I I 70 apartments of Phase II A (135 apt) are sold 3 6 l N E X T E N S A B U S I N E S S S T R A T E G Y
Slide 37: Park Lane Summary
CHA. 03 - PROJECT HIGHLIGHTS Park Lane | summary | 12.02.2020 gosegg ese * Dayton 3 Central Ze Admiral * *4 ad nee 3 3s ¥ 229399-23_ 3
Slide 38: T&T: Update Infrastructure, Construction Pond
CHA. 03 – P R O J E C T H I G H L I G H T S T&T : Update Infrastructure : construction pond – 08.08.2022 Playground children: finished End of the works phase 1 (pond – bridges – footpaths) : Sep 22 Filling 3.600 m3 drainage water from Park Lane 2 Start of works phase 2 (landscaping) : Dec 2022 3 8 l
Slide 39: T&T: Environmental Design and Signage
CHA. 03 – P R O J E C T H I G H L I G H T S T&T : Environmental design Admiral – Brooklyn – Central: finished Dayton – Easton : Oct 2022 Parkavenue and entrance parking Brooklyn : Oct 22 T&T : Signage Parkings – Buildings – Public space Oct – Nov 22 3 9 l N E X T E N S A B U S I N E S S S T R A T E
Slide 40: Development Portfolio: Lake Side
DEVELOPMENT PORTFOLIO LAKE SIDE
Slide 41: Lake Side Tour & Taxis: Master Plan
CHA. 03 – P R O J E C T H I G H L I G H T S – L A K E S I D E T O U R & T A X I S : M A S T E R P L A N 4 1 l N E X T E N S A B U S I N E S S S T R A T E G Y
Slide 42: Slide 42
Slide 43: Zone B - Program
CHA. 03 – P R O J E C T H I G H L I G H T S : L a k e S i d e - d e s i g n Zone B - Program Pre-approved Pre-design by authorities Q4 2021 Q2 2022 65.000 m² Residential 66.500 m² 1.500 m² Public facilities 1.500 m² 1.000 m² Retail 2.000 m² 67.500 m² Total 70.000 m² 15 Buildings 15 640 Apartments 51
Slide 44: Zone A - Program
CHA. 03 – P R O J E C T H I G H L I G H T S : L a k e S i d e - d e s i g n Zone A - Program Pre-approved by authorities Q4 2021 25.000 m² Residential 37.500 m² Offices 2.000 m² Public facilities 1.500 m² Retail 66.000 m² Total 2 Buildings 218 Apartments 1850 Working stations 4 4 l N E X T E N S A B
Slide 45: Timeline Belgium Development
CHA. 03 – T I M E L I N E B E L G I U M D E V E L O P M E N T 2022 2023 2024 2025 2026 2027 ✓ Start ✓ Delivery ✓ Start ✓ Work in ✓ Work in ✓ DeliveryPhase Construction Phase II T&T revenues progress progress II T&T Phase II T&T Lake Side Phase II Phase II T&T ✓ Work in A & B for (April) (36,520 ✓ Wo
Slide 46: Development Portfolio: Cloche d'Or
DEVELOPMENT PORTFOLIO CLOCHE D’OR
Slide 47: Cloche d'Or - A Mixed-Use Project
CHA. 03 – P R O J E C T H I G H L I G H T S – C L O C H E D ’ O R – A M I X E D - U S E P R O J E C T 4 7 l N E X T E N S A B U S I N E S S S T R A T E G Y
Slide 48: Cloche d'Or, a Mixed-Use Project
CHA. 03 – P R O J E C T H I G H L I G H T S CLOCHE D’OR, A MIXED-USE PROJECT Luxembourg In partnership with Promobe, Nextensa operates in the office and residential sectors By 2025: ✓ 25.000 persons on site (live,work,shop) ✓ 15% Commercial ✓ 30% Residential ✓ 5% Office Space ✓ More than 130 shops ✓
Slide 49: Realized Projects
CHA. 03 – P R O J E C T H I G H L I G H T S REALIZED PROJECTS 4 9 l N E X T E N S A B U S I N E S S S T R A T E G Y
Slide 50: Projects Under Construction or in Development
Projects under construction or in development 5 0 l N E X T E N S A B U S I N E S S S T R A T E G Y
Slide 51: Future Projects
Future projects 5 1 l N E X T E N S A B U S I N E S S S T R A T E G Y
Slide 52: Cloche d'Or - Situation on 30 June 2022
C l o c h e d ’ O r – s i t u a t i o n o n 3 0 th J u n e 2 0 2 2 5 2 l N E X T E N S A B U S I N E S S S T R A T E G Y
Slide 53: U S I N E S S
5 3 l N E X T E N S A B U S I N E S S S T R A T E G Y
Slide 54: Cloche d'Or - Offices Darwin I
Cloche D’Or - offices Darwin I • Delivery end September 2022 • Sale expected in October 2022 • Surface 5.022 m² • 100% let to 2 tenants • BREEAM excellent After delivery of this building, Ilôt B is fully constructed
Slide 55: Cloche d'Or - Offices Emerald
Cloche D’Or - Offices Emerald • First project on Ilôt E • Surface 7.000 m² • Works started in Q2 2022 • Delivery expected end Q3 2023 • 43% pre-let to a lawyer office • Discussions ongoing with several tenants for the remaining 57% of the surface • BREEAM excellent
Slide 56: Cloche d'Or - Offices Darwin II
Cloche D’Or – Offices Darwin II • Surface of 4.700 m² • Delivered end of March 2022 • 100% let to state of Luxembourg • Not yet sold since tenant has a purchase option until March 2025
Slide 57: Cloche d'Or - Offices White House
Cloche D’Or - Offices White House • Second building on Ilôt E • Surface of 7.000 m² • Negotiations with several candidates ongoing • Building permit obtained • Construction works will start once the first rent agreement is signed (expected in H2 2022)
Slide 58: Cloche d'Or - Residential Ilôt D Nord
Cloche D’Or - Residential Ilôt D Nord • 194 apartments on 14.139 m² • 177 units are already sold • Construction works ongoing, delivery expected mid 2023
Slide 59: Cloche d'Or - Residential Ilôt D5-D10
Cloche D’Or - Residential Ilôt D5-D10 • 185 apartments • 18 commercial units on the ground floor • Total surface 15.148 m² • 74 reservations made • Construction works are expected to start in the second half of 2022
Slide 60: Niederanven, Luxembourg Airport District
Niederanven, Luxembourg Airport district • Acquisition of a land with development potential of 35.000 m² • Mixed re-development possible (office/retail/residential) • Located close to Luxembourg Airport, next to exit Munsbach of the A1 Luxembourg – Germany • Studies / permit request ongoing New plot
Slide 61: Timeline Luxembourg Development
CHA. 03 – T I M E L I N E L U X E M B O U R G D E V E L O P M E N T 2022 2023 2024 2025 2027 ✓ Darwin I (5,052) 100% ✓ Darwin II ✓ Darwin I (5,052 ✓ D5 -10 150 units ✓ Residential lot let to CMS & At excecution of m²) delivered delivered E, 12,000 sqm Home in construction option delivered & sold ✓ E
Slide 62: Chapter 04: Investment Strategy & Future
CHAPTER 04 Investment Strategy & Future
Slide 63: Our Acquisitions & Investments Perspectives
CHA. 04 - W H E R E W E A R E G O I N G OUR ACQUISITIONS & INVESTMENTS PERSPECTIVES NEW OPPORTUNITIES TO BE ASSESSED AGAINST FOLLOWING CRITERIA • Focus on prime locations in established cities : Brussels - Antwerp - Ghent - Luxembourg – Vienna ? • Active search for large(r) scale sites and/or inner-
Slide 64: Our Developments & Project Management Criteria
CHA. 04 - W H E R E W E A R E G O I N G OUR DEVELOPMENTS & PROJECT MANAGEMENT CRITERIA A L L D E V E L O P M E N T S T O B E B R E E A M / D G N B / W E L L (*) C E R T I F I E D CO2 neutrality - life cycle approach as a base principle - following GRI guidelines Focused on wellbeing for all clients
Slide 65: Our Asset & Property Management Criteria
CHA. 04 - W H E R E W E A R E G O I N G OUR ASSET & PROPERTY MANAGEMENT CRITERIA ALL ASSETS TO BE BREEAM IN USE CERTIFIED TO SET UP RESPONSIBLE MANAGEMENT PLANS PREPARE GRI & TAXONOMY REPORTING TOOLS Interact & mutual fuel ESG plans with our clients (tenants) Set up partnerships with innovative busi
Slide 66: Chapter 05: Key Financials
CHAPTER 05 KEY FINANCIALS
Slide 67: Key Performance Indicators
CHA. 05 – K E Y F I N A N C I A L S KEY PERFORMANCE INDICATORS Key figures investment portfolio (1) 30/06/2022 31/12/2021 Fair value investment portfolio (€ 1.000) (2) 1 344 989 1 407 919 Fair value investment properties, incl. participation Retail Estates 1 437 014 1 504 404 (€ 1.000) (2) Investmen
Slide 68: KPIs of Our Investment Portfolio
CHA. 05 – KPI’s of our investment portfolio Fair value of portfolio decreased from 1,41 billion € to 1,34 billion € due to sale of the Crescent and Monnet Yield increases from 5,20% on 31st December 2021 to 5,25% on 30th June 2022 Occupation rate increased from 89,1% to 90,3% Rental income up by 3,0
Slide 69: Other KPIs: Development Results
CHA. 05 – Other KPI’s Result of development activities (+ € 11,9M) - Tour & Taxis (€ 2,0 M): profit recognized on Parklane Phase I. Although the commercialisation of Parklane Phase II started in April 2022 no margin was recognized yet on this sub project. - Cloche d’Or (€ 9,9 M) main sub projects co
Slide 70: Funding
CHA. 05 – K E Y F I N A N C I A L S FUNDING Consolidated debt of € 843,3 M on 30th June 2022 (decrease by 77,2 € M compared to 31/12/2021): - € 761 M debt related to the investment portfolio - € 82 M debt related to the development portfolio Financial debt ratio is 46,31% (48,56% per 31/12/2021) Loa
Slide 71: Consolidated Income Statement
CHA. 05 – K E Y F I N A N C I A L S CONSOLIDATED INCOME STATEMENT Consolidated statement of PRO FORMA(*) comprehensive income (in 1.000 €) 30/06/2022 30/06/2021 30/06/2021 Net rental income from investment properties 33 241 30 203 33 915 Real estate charges -6 636 -5 563 -7 085 Result on disposal of
Slide 72: Consolidated Balance Sheet
CHA. 05 – K E Y F I N A N C I A L S CONSOLIDATED BALANCE SHEET 30/06/2022 31/12/2021 LIABILITIES (in € 1 000) 30/06/2022 31/12/2021 TOTAL SHAREHOLDERS' EQUITY 803 626 790 473 ASSETS I. SHAREHOLDERS' EQUITY ATTRIBUTABLE TO THE 792 854 779 970 I. NON-CURRENT ASSETS 1 456 692 1 433 991 SHAREHOLDERS OF
Slide 73: Chapter 06: Conclusions
CHAPTER O06 Conclusions
Slide 74: To Summarize
TO SUMMARIZE Impressive pipeline on Cloche d’Or and T&T Concentration on letting program Success of the Gare Maritime Food market Residential Sales at T&T on track, but Luxembourg slowed down during the first 6 months Executing sales program towards lower debt degree to < 45% Titanium deal will impr
Slide 75: Nextensa: Places You Prefer
nextensa: PLACES YOU PREFER