Patrizia Se · XETR:PAT

Patrizia — PATRIZIA Immobilien — Q1 2017 Earnings Presentation

19 slides from Patrizia's earnings presentation, May 10, 2017

  1. Slide 1: PATRIZIA Q1 2017 Results Presentation

    PATRIZIA The European Real Estate Investment Company Q1 2017 Results Presentation 10 May 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 HIGHLIGHTS ASSETS UNDER MANAGEMENT (in EUR billion)  Q1 2017 – fully on track to achieve 2017 guidance 20.6  Strong AuM growth of EUR 0.5bn achieved  Robust operating income of EUR 9.3m 18.6 19.1 16.6  Asset management fees increased 14.6 11

  3. Slide 3: PATRIZIA continues on its growth path

    PATRIZIA continues on its growth path ASSETS UNDER MANAGEMENT TOTAL RECURRING FEE INCOME (in EUR billion) (in EUR million) 20.6 174-195 188.6 18.6 19.1 165.2 16.6 140.0 14.6 117.5 11.8 72.8 6.9 31.0 2012 2013 2014 2015 2016 Q1/17 2012 2013 2014 2015* 2016 Q1/17 EQUITY RAISED ASSET MANAGEMENT FEE INC

  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 consistent and sustainable  Sales proceeds from own assets held on the balance sheet are steadily diminishing  Co-investment income continues to deliver attractive return on eq

  5. Slide 5: Q1 2017 results good progress to achieve full years financial goals

    Q1 2017 results good progress to achieve full years financial goals OPERATING INCOME (in EUR million) Third Party Business Fees − Opex Management Income Regulated Funds Single Asset Mandates 14.0  Institutional Investors 8.5  Private Investors  Co-Investments Q1/16 Q1/17 Return on Equity Investme

  6. Slide 6: Promising fee income confirms scalability of PATRIZIA's platform

    Promising fee income confirms scalability of PATRIZIA’s platform FEE INCOME DEVELOPMENT TOTAL FEE INCOME  Total fee income of EUR 31.0m in Q1 2017 (in EUR million) 37.3  Management fees increased in line with AuM growth 1.2 31.0 15.6 8.1  Guidance for performance fees of EUR 29m-38m +9.6% 22.9 20

  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 20.6 managing real estate assets from more than 18.6 19.1 200 international investors 16.6 14.6  Fee income i

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

    …with transaction fees remaining a consistent part of total income… TRANSACTION FEES OF EUR 8.1M IN Q1 2017 TRANSACTION VOLUME 7.2 (in EUR billion)  Transactions of EUR 0.9bn completed in Q1 2017, Ø EUR 4.8 3.0 5.1 4.9bn broadly in line with annual long term average 0.5 4.1 0.7 1.9 3.2  Promising

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

    …and performance fees emphasising PATRIZIA’s track record PERFORMANCE FEES AS 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  Return hurdles largely relate to realised

  10. Slide 10: Well positioned to capture opportunities via balance sheet strength

    Well positioned to capture opportunities via balance sheet strength  Strong balance sheet ratios and capital structure to facilitate further substantial profitable growth  Issuance of bonded loan of EUR 300m significantly increases financial flexibility and growth options  Total available cash no

  11. Slide 11: Bonded loan further strengthens PATRIZIA's growth options

    Bonded loan further strengthens PATRIZIA’s growth options RATIONALE Rationale Terms at a glance  Issuance is strengthening PATRIZIA’s in EURm 5yrs 7yrs 10yrs TOTAL financial firepower Volume 91.5m 124.0m 84.5m 300.0m fix  Including the company’s current liquidity, 76.0m 89.0m 69.0m 234.0m deployab

  12. Slide 12: Outlook for 2017 confirmed – Operating Income of EUR 60m - 75m

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

  13. Slide 13: 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 19.1  Continue European expansion European real  Broaden product

  14. Slide 14: Appendix

    Appendix PATRIZIA Immobilien AG| © 2017 14

  15. Slide 15: Consolidated Income Statement Q1 2017

    Consolidated Income Statement Q1 2017 1. Quarter 2017 1. Quarter 2016* in EUR k 01.01.-31.03.2017 01.01.-31.03.2016 Revenues 40,949 62,009 Income from the sale of investment property 164 333 Changes in inventories -4,798 -14,893 Other operating income 6,114 835 Income from the deconsolidation of sub

  16. Slide 16: Consolidated Balance Sheet 31 March 2017 – assets

    Consolidated Balance Sheet 31 March 2017 – assets ASSETS in EUR k 31.03.2017 31.12.2016 A. Non-current assets Goodwill 610 610 Other intangible assets 34,918 35,416 Software 10,712 10,772 Investment property 10,709 12,226 Equipment 4,477 4,460 Participations in associated companies 85,967 85,923 Par

  17. Slide 17: Consolidated Balance Sheet 31 March 2017 – equity/liabilities

    Consolidated Balance Sheet 31 March 2017 – equity/liabilities EQUITY AND LIABILITIES in EUR k 31.03.2017 31.12.2016 A. Equity Share capital 83,956 83,956 Capital reserve 184,005 184,005 Retained earnings Legal reserves 505 505 Non-controlling shareholders 1,691 1,691 Currency translation differences

  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 9  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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