Patrizia Se · XETR:PAT
Patrizia — 9M 2021 Earnings Presentation
20 slides from Patrizia's earnings presentation, Nov 11, 2021
Slide 1: Results Presentation 9M 2021
Company Presentation Results Presentation PATRIZIA | © 2021 March 2021 9M 2021 | 11 November 2021
Slide 2: Video presentation
Video presentation PATRIZIA 9M 2021 Financial Results | Video presentation Let our CFO Karim Bohn guide you through the most important points of our 9M 2021 Financial Results Access via QR code Access via weblink https://youtu.be/bDi_yDGIH7M PATRIZIA | © 2021 2
Slide 3: PATRIZIA beyond financials – 9M 2021 milestones
Financials 9M 2021 PATRIZIA beyond financials – 9M 2021 milestones Strategic steps taken in a continued structural growth market Resilient business Structural growth M&A New model and platform market Whitehelm Capital Supervisory Board EUR 3.7bn of transactions signed Client demand, ECB policy and A
Slide 4: PATRIZIA's new Supervisory Board
PATRIZIA’s new Supervisory Board Further improved governance with an enlarged international, diverse and tech-savvy Supervisory Board As part of the planned transformation of PATRIZIA from an AG to a European Stock Corporation SE, the composition of our Supervisory Board changed in October 2021 in p
Slide 5: Financials & Guidance 9M 2021
Financials & Guidance 9M 2021 PATRIZIA | © 2021 5
Slide 6: PATRIZIA financials – 9M 2021 key messages
Financials 9M 2021 PATRIZIA financials – 9M 2021 key messages A forward-thinking partner who invests responsibly to deliver real value 1 2 3 4 Continued Rock-solid Increased Guidance for FY growth balance sheet business 2021 specified activity Operating income Growth in AUM to Net equity ratio of Tr
Slide 7: Operating income
Financials 9M 2021 Operating income Solid 9M 2021 results on track to reach the specified FY 2021 guidance • Operating income of EUR 90.8m in 9M 2021 compares to EUR 100.2m in 9M 2020, Composition 9M 2021 | EUR m difference mainly due to net operating expenses which were positively impacted by
Slide 8: Management fees
Financials 9M 2021 Management fees Continued growth in AUM and recurring management fees • Management fees of EUR Management fees | EUR m Assets under management | EUR bn 154.8m (+6.8% y-o-y) prove the stability and resilience of 50.0 – 53.0 the business model 208.0 – 210.0 +3.6% 48.7 • Level of m
Slide 9: Transaction fees
Financials 9M 2021 Transaction fees Accelerating business activity expected to continue during Q4 2021 • During 9M 2021 PATRIZIA signed transactions worth EUR 3.7bn for its global clients, an increase of 40.0% y-o-y Transaction fees | EUR m Transaction volume (signed) | EUR bn • Ongoing transaction
Slide 10: Performance fees
Financials 9M 2021 Performance fees Continued strong investment performance realised for clients • Performance fees of EUR 70.2m down 5.3% y-o-y Performance fees | EUR m • As a reminder – the majority of performance fees are generated on realisation of asset or fund disposals above pre-agreed IRR hu
Slide 11: Guidance for FY 2021 specified
Financials 9M 2021 Guidance for FY 2021 specified Profitable growth to continue – FY 2021 guidance at mid-point implies y-o-y growth in operating income Specified assumptions for FY 2021 Income composition FY 2021e | EUR m 68% 75% • Higher recurring management fees expected for FY 2021 with EUR 208.
Slide 12: PATRIZIA's balance sheet is stronger than ever
Financials 9M 2021 PATRIZIA’s balance sheet is stronger than ever PATRIZIA has the financial flexibility to invest in inorganic growth, its platform and technology to offer its clients best in class products Strong balance sheet Significant liquidity • Strong balance sheet ratios and capital structu
Slide 13: Appendix
Appendix PATRIZIA | © 2021 13
Slide 14: Capital allocation
Capital allocation PATRIZIA's capital allocation as at 30 September 2021 Assets under Invested capital Invested Management (fair value) capital (at cost) Participations EUR m EUR m EUR m in % Third-party business 42,559.5 0.0 Co-Investments 6,073.0 530.7 86.4 Residential 5,476.1 515.8 74.4 Dawonia G
Slide 15: Reconciliation of operating income
Appendix Reconciliation of operating income Reconciliation of operating income EUR k 9M 2021 9M 2020 Change EBITDA 95,219 101,837 -6.5% Appreciation/amortisation of other intangible assets¹, software and rights of use, depreciation of property, plant and equipment as well as financial investments -2
Slide 16: Consolidated income statement
Appendix Consolidated income statement EUR k Q3 2021 Q3 2020 9M 2021 9M 2020 Change Revenues 88,774 75,004 228,958 223,157 2.6% Changes in inventories 25 1,027 1,771 -650 -372.3% Other operating income 1,666 5,250 3,681 11,501 -68.0% Income from the deconsolidation of subsidiaries 0 0 63 116 -45.5%
Slide 17: Consolidated balance sheet | Assets
Appendix Consolidated balance sheet | Assets Assets EUR k 30.09.2021 31.12.2020 A. Non-current assets Goodwill 214,947 212,353 Other intangible assets 94,955 106,137 Software 14,259 16,603 Rights of use 33,646 25,906 Investment property 1,838 1,838 Equipment 9,463 7,305 Associated companies accounte
Slide 18: Consolidated balance sheet | Equity and liabilities
Appendix Consolidated balance sheet | Equity and liabilities Equity and liabilities EUR k 30.09.2021 31.12.2020 A. Equity Share capital 88,977 89,683 Capital reserves 114,641 129,751 Retained earnings Legal reserves 505 505 Currency translation difference -966 -7,944 Remeasurements of defined benefi
Slide 19: Financial calendar
Appendix Financial calendar 2022 February 24 ➢ Preliminary results FY 2021 March 17 ➢ FY 2021 Annual Report with investor and analyst conference call May 12 ➢ 3M 2022 Interim Statement with investor and analyst conference call June 1 ➢ Annual General Meeting, Augsburg August 4 ➢ H1 2022 Financial Re
Slide 20: Contact
Appendix Contact KARIM BOHN MARTIN PRAUM Member of the Senior Managing Director Management Board | CFO Head of Investor Relations & Group Reporting PATRIZIA AG T +49 69 643505-1114 Fuggerstrasse 26 F +49 821 50910-399 86150 Augsburg M +49 151 19685445 Germany investor.relations@patrizia.ag VERENA SC