Helios Re Socimi, S.a. · BME:SCHLR

Helios Re Socimi — Lar España Real Estate SOCIMI — FY2015 Earnings Presentation

26 slides from Helios Re Socimi's earnings presentation, Feb 29, 2016

1. Slide 1: FY 2015 Financial Results

   FY 2015 Financial Results 29th February, 2016 www.larespana.com Lar España Real Estate SOCIMI, S.A. (LRE) – November, 2015

2. Slide 2: Disclaimer

   Disclaimer • This document has been prepared by Lar España Real Estate SOCIMI, S.A. (the “Company”) for information purposes only and it is not a regulated information or information which has been subject to prior registration or control by the Spanish Securities Market Commission. This document ne

3. Slide 3: Lar España's presenting team

   FY 2015 Financial Results - Lar España Real Estate Lar España’s presenting team MIGUEL PEREDA Board Member of Lar España and Co-CEO of Grupo Lar SERGIO CRIADO CFO of Lar España LAR ESPAÑA TEAM JON ARMENTIA Corporate Manager of Lar España HERNÁN SAN PEDRO Head of Investor Relations of Lar España JORG

4. Slide 4: Agenda

   Agenda 1 Highlights 2 Business Performance 3 Financials 4 Lar España at a glance 5 Future & Vision 6 Conclusions Lar Lar España España Real Real Estate Estate SOCIMI, SOCIMI, S.A. (LRE) –– November, S.A. (LRE) February, 2016 2015 4

5. Slide 5: Lar España has delivered on its key announced objectives

   Q3 2015 Financial Results - Lar España Real Estate Lar España has delivered on its key announced objectives Positive operating performance through active management Results 2015 Strong net rent generation, though still in ramp-up phase Enhanced balance sheet and profitability Dividend Objectives Del

6. Slide 6: Delivering strong results

   FY 2015 Financial Results - Lar España Real Estate Delivering strong results Dividend 2.64% €12 Dividends based on 90% €0.201 Dividend per share1 Million EPRA Earnings Yield Recurrent Net Profit vs Gross Rental 40% Total Net Profit € 43.6m €35.7 Income €50.9m EPRA Annualised EPRA NAV +5% vs Net Rent

7. Slide 7: Agenda

   Agenda 1 Highlights 2 Business Performance 3 Financials 4 Lar España at a glance 5 Future & Vision 6 Conclusions Lar Lar España España Real Real Estate Estate SOCIMI, SOCIMI, S.A. (LRE) –– November, S.A. (LRE) February, 2016 2015 7

8. Slide 8: Strong performance through active asset management

   FY 2015 Financial Results - Lar España Real Estate Strong performance through active asset management  Net Profit of €43.6m / Dividend1 of 0.201 per share / 2.64% dividend yield DELIVERY OF  Gross Rental Income of €35.7m, +315% over last year / EPRA Annualized Net Rent2 of €50.9m on STRONG RESULTS

9. Slide 9: Agenda

   Agenda 1 Highlights 2 Business Performance 3 Financials 4 Lar España at a glance 5 Future & Vision 6 Conclusions Lar Lar España España Real Real Estate Estate SOCIMI, SOCIMI, S.A. (LRE) –– November, S.A. (LRE) February, 2016 2015 9

10. Slide 10: Positive operating performance, but still expecting ramp-up phase

    FY 2015 Financial Results - Lar España Real Estate Positive operating performance, but still expecting ramp-up phase BUSINESS PERFORMANCE Consolidated Income Statement (Thousands of Euros)  STRONG PERFORMANCE TROUGH ACTIVE 2015 2014 MANAGEMENT / REVENUES IN RAMPING UP PHASE / (1) Revenues 35,734 8,

11. Slide 11: Balance Sheet transformation due to Investment and Financing activity

    FY 2015 Financial Results - Lar España Real Estate Balance Sheet transformation due to Investment and Financing activity ASSETS INVESTED Consolidated Balance Sheet (Thousands of Euros) Assets 2015 2014  +€454m INVESTED IN 2015, GROWING 2.1x THE Investment properties 776,375 357,994 PORTFOLIO AT THE

12. Slide 12: Megapark finance €97m raises leverages the portfolio to a target LTV49%

    FY 2015 Financial Results - Lar España Real Estate Megapark finance €97m raises leverages the portfolio to a target LTV49%1 Backloaded amortization of debt aligned with Diversification of funding sources Spread reduction on variable debt Lar España’s asset strategy and prudent financial management D

13. Slide 13: Agenda

    Agenda 1 Highlights 2 Business Performance 3 Financials 4 Lar España at a glance 5 Future & Vision 6 Conclusions Lar Lar España España Real Real Estate Estate SOCIMI, SOCIMI, S.A. (LRE) –– November, S.A. (LRE) February, 2016 2015 13

14. Slide 14: Lar España at a glance

    FY 2015 Financial Results - Lar España Real Estate Lar España at a glance Key figures as at December 2015 EPRA Annualized EPRA Occupancy1 EPRA Net Initial EPRA Net Initial €50.9m 93.0% 6.2% 6.6% Net Rent1,2 rate Yield1 Yield on Acq. Cost EPRA NAV per share €9.65 GAV €899m GLA Owned 556,163 sqm Net P

15. Slide 15: Lar España's portfolio at a glance (FY 2015)

    FY 2015 Financial Results - Lar España Real Estate Lar España’s portfolio at a glance (FY 2015) Residential Logistic 4% 10% Offices GLA Logistics 12% 29% Rental Income breakdown by Retail 58% by asset class asset class Retail Offices 78% 9% EPRA Net Initial Yield breakdown by asset class EPRA Occupa

16. Slide 16: Lar España has outperformed the market in 2015 backed on an intense letting activity

    FY 2015 Financial Results - Lar España Real Estate Retail Lar España has outperformed the market in 2015 backed on an intense letting activity aimed at improving shopping experience +9% of Total Sales and +5% Comparable Sales vs 4.1% of Spanish Retail Index 1  +9% of total GLA of letting activity a

17. Slide 17: Lar España is present in key geographies with positive macro dynamics

    Retail FY 2015 Financial Results - Lar España Real Estate Lar España is present in key geographies with positive macro dynamics Unemployment: Lar España’s outperforms in its regions 1 Average Lar España 16.9%  -4 p.p Outperformance in unemployment rate1 of Lar -4 p.p. España’s geographical sources

18. Slide 18: Office and logistics assets actively managed

    FY 2015 Financial Results - Lar España Real Estate Offices and logistics Office and logistics assets actively managed Full Refurbishment Improvements in the Assets Marcelo Spínola Building Egeo Building Refurbishment works started on 2Q INECO has extended its contract until 2021 14,065 sqm 77% bui

19. Slide 19: Residential starts construction works and confirms high latent demand

    Residential FY 2015 Financial Results - Lar España Real Estate starts construction works and confirms high latent demand Construction contract signed and underground works starting in Q1-2016 Off market commercialization  >30% reservations  12 residential units & 1 commercial unit Done  VIP sales

20. Slide 20: Strong Valuation Performance

    FY 2015 Financial Results - Lar España Real Estate Strong Valuation Performance +€46m of revaluation in a holding period of 10.9 months Like for like1 Valuation growth 2015/2014 Valuation Bridge Since Acquisition Holding €million period: Total 6.1% 10.9 months 39 46 8992 Logistic 11.0% 454 7 Retail

21. Slide 21: Agenda

    Agenda 1 Highlights 2 Business Performance 3 Financials 4 Lar España at a glance 5 Future & Vision 6 Conclusions Lar Lar España España Real Real Estate Estate SOCIMI, SOCIMI, S.A. (LRE) –– November, S.A. (LRE) February, 2016 2015 21

22. Slide 22: Priorities 2016

    FY 2015 Financial Results - Lar España Real Estate Priorities 2016 Retail Property Management Capex & Repositioning Refurbishment of Las Huertas Shopping Centre during 2016 Target of +5-7% Increase of Sales and ~96% Occupancy rate for the end of 2016. Aggressive letting plan for 50 new leases Capex

23. Slide 23: Visible and sizable pipeline with over 80% envisaged off-market transactions

    FY 2015 Financial Results - Lar España Real Estate Visible and sizable pipeline with over 80% envisaged off-market transactions Dec 2015 Pipeline under Pipeline2 under negotiation breakdown based on expected €2.5Bn 2,500 negotiation + estimated Investment Capex: €1.1Bn €2.0Bn 2,000 Residential devel

24. Slide 24: Agenda

    Agenda 1 Highlights 2 Business Performance 3 Financials 4 Lar España at a glance 5 Future & Vision 6 Conclusions Lar Lar España España Real Real Estate Estate SOCIMI, SOCIMI, S.A. (LRE) –– November, S.A. (LRE) February, 2016 2015 24

25. Slide 25: Delivering strong results through active management and new assets

    FY 2015 Financial Results - Lar España Real Estate Delivering strong results through active management and new assets Dividend 2.64% €12 Dividends based on 90% €0.201 Dividend per share1 Million EPRA Earnings Yield Recurrent Net Profit vs Gross Rental 40% Total Net Profit € 43.6m €35.7 Income €50.9m

26. Slide 26: Lar España Real Estate SOCIMI, S.A. (LRE) – November, 2015

    Lar España Real Estate SOCIMI, S.A. (LRE) – November, 2015

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