Trastor Real Estate Investment Company S.a. · ATHEX:TRASTOR
Trastor Real Estate Investment — Investor Presentation (December 2024)
31 slides from Trastor Real Estate Investment's investor presentation, December 2024
Slide 1: Company Presentation
Company Presentation December 2024
Slide 2: Contents
Contents Company Overview 03 Portfolio Overview 11 Sustainability / ESG Policy 17 Financial Statements 21 Corporate Governance 24
Slide 3: Company Overview
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Slide 4: TRASTOR at a Glance
Company Overview TRASTOR at a Glance Company Profile Portfolio Data (31.12.2024) ✓ Listed real estate investment company ✓ Positioned as a key player in the Greek REIC market, leveraging #62 €670.5mn 402.0k sqm local market expertise and a strong portfolio of prime assets Assets GAV GLA ✓ Focused po
Slide 5: The Transition from Passive to Active Management and Growth
Company Overview The Transition from Passive to Active Management and Growth Founded by Piraeus Bank (“PB”) under the 1999 name “Piraeus REIC” 2003 It was granted license to operate as a REIC by Hellenic Capital Market Commission It became the first REIC to be listed on Athens 2005 Stock Exchange 20
Slide 6: Focused Investment Platform
Company Overview Focused Investment Platform Portfolio Breakdown Portfolio Breakdown based on fair values based on annualized rental income 3.3% 0.9% 10.1% 11.3% 11.5% 9.9% €670.5mn €38.4mn 55.2% 54.8% 20.3% 22.7% Office Logistics Retail Mixed Use Other ✓ Strategic purchases of new properties per in
Slide 7: Investment Activity
Company Overview Investment Activity Portfolio GAV Development +43.1% GAV 0.2 6.1 154.4 23.3 2.3 20.1 670.5 468.7 GAV 31.12.2023 BV of assets sold CapEx on Existing Revaluation Gains on New Acquisitions CapEx on New Revaluation Gains on GAV 31.12.2024 Assets Existing Assets Acquisitions New Acquisit
Slide 8: Intense Investment Program
Company Overview Intense Investment Program GAV Evolution Acquisitions 11.2x €494.1m 670.5 Net Investments Legacy Assets New Assets GAV Growth* 468.7 392.4 324.9 301.6 615.6 154.1 200.7 417.0 339.4 113.3 246.0 273.3 100.4 79.5 142.1 75.0 (€ mn) 55.2 19.9 55.2 44.5 30.0 59.6 58.0 58.6 55.6 51.6 53.0
Slide 9: The Business Model
Company Overview The Business Model Investment Approach Our competitive advantages ✓ Understand deficiencies at market level by analyzing micro/macro fundamentals Superior ✓ Identify undervalued assets with strong rental growth potential and improving access in valuations Proprietory deal ✓ Select a
Slide 10: Asset Management Approach
Company Overview The Business Model Asset Management Approach ✓ Full potential of value creation by using in-house market, legal and technical expertise ✓ Conversion of assets to create flexible workspaces and maximize tenant alternatives ✓ Invest capex prudently to absorb spot rental demand ✓ Engag
Slide 11: Portfolio Overview
Portfolio Overview
Slide 12: Trophy REIC Platform
Portfolio Overview Trophy REIC Platform LABS Tower THE80 18-20 Sorou Str. VS 94 16 Am.-Chal. Str. Sector Mixed-Use Sector Office Sector Office Sector Office Sector Office Location Nicosia Location Athens CBD Location Athens North Location Athens CBD Location Athens North GLA 11,378 GLA 9,694 GLA 14,
Slide 13: Balanced Portfolio
Portfolio Overview Balanced Portfolio Largest properties Largest Tenants based on fair value based on annualized rental income 45.4% 45.5% of total GAV of total annualized rental income 7.3% 7.0% 6.0% 5.3% 5.3% 5.2% 5.1% 4.9% 5.7% 5.7% 4.3% 4.3% 3.1% 3.1% 3.1% 3.8% 3.4% 3.3% 2.6% 2.5% Labs Tower 18-
Slide 14: A Value-Add Strategy Example
Portfolio Overview A Value-Add Strategy Example Operational Timeline June 2022 Property Acquisition January 2023 Choice of Architect August 2023 Issue of building permit November 2023 Redevelopment work started June 2023 Tenant A moved out March 2024 Tenant B moved out June 2024 Fully leased Before
Slide 15: Redevelopment Project
Portfolio Overview Redevelopment Project Operational Timeline May 2019 Property Acquisition September 2022 Choice of Architect July 2023 Tenant Vacated February 2024 Issue of building permit March 2024 Redevelopment work started December 2024 Fully Leased Before After Q2 2025 Delivery Asset Class Of
Slide 16: Development Project
Portfolio Overview Development Project Operational Timeline September 2021 Land Plot Acquisition February 2022 Acq. of adjacent property January 2023 Architectural Designs May 2023 Issue of building permit July 2023 Start of Construction Q2 2025 Delivery Asset Class Prime Office building Amarousiou
Slide 17: Sustainability / ESG Policy
Sustainability / ESG Policy
Slide 18: Sustainable Growth, Responsible Investments
Sustainability / ESG Policy Sustainable Growth, Responsible Investments TRASTOR was one of the first real estate companies to recognize the significant impact of ESG factors on its investment portfolio’s sustainability and profitability. The Company has integrated the principles of Sustainable Devel
Slide 19: Organization
Sustainability / ESG Policy Organization The Company's Sustainability Policy - ESG is determined by the Board of Directors. Within this framework, specific ESG objectives are defined, and the Company's ESG business strategy is developed annually. To ensure the ESG business strategy is effectively su
Slide 20: Implementation
Sustainability / ESG Policy Implementation Action Areas Activities ✓ Construction projects aimed at achieving LEED certification ✓ Major renovations of existing buildings ✓ Energy exclusively from renewable sources in all properties Environmental Stewardship ✓ Improved monitoring and mapping by regu
Slide 21: Financial Statements
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Slide 22: Results
Financial Statements Results (€ ‘000) FY 2022 FY 2023 FY 2024 Δ% Rental Income from investment properties 21,689 25,542 30,551 19.6% Invoiced Maintenance & Common Charges 1,347 1,570 1,542 -1.8% Total Income 23,036 27,112 32,093 18.4% Gain / (Loss) from adjustment of investment properties to fair va
Slide 23: Robust consolidated statement of financial position
Financial Statements Robust consolidated statement of financial position (€ ‘000) 31.12.2022 31.12.2023 31.12.2024 Δ% ASSETS Non-current assets Tangible assets 57 48 31 -35.0% Right of Use Assets 210 1.100 1,015 -7.7% Intangible assets 140 313 335 7.0% Investment properties 387,848 465,080 670,502 4
Slide 24: Corporate Governance
Corporate Governance
Slide 25: Organizational Chart
Corporate Governance Organizational Chart Board of Directors Investment Committee Remuneration & Nomination Corporate Secretary Committee Audit Committee Chief Executive Officer Internal Audit Unit Human Resources Unit Risk Management Compliance Finance InvestmentManagement Asset & Portfolio Managem
Slide 26: Management Team
Corporate Governance Management Team Tassos Kazinos George Filopoulos George Theodoropoulos Dimitris Polychronopoulos Ioannis Letsios Chief Executive Officer Chief Investment Officer Asset & Portfolio Manager Head of Legal Finance Manager • 30 years professional experience • 21 years experience • 17
Slide 27: Pillars
Corporate Governance Pillars Board of Directors ▪ Responsible for the long-term success of the Group ▪ Provides leadership and direction to the Group on its culture, values, and ethics ▪ Sets strategy and oversees its implementation ▪ Agrees risk appetite and is responsible for risk oversight ▪ Resp
Slide 28: Directors and Committees’ Members
Corporate Governance Directors and Committees’ Members Board of Directors Committees ► Lambros Papadopoulos ► AUDIT COMMITTEE Chairman, Independent Non-Executive Member Susana Poyiadjis (Chairwoman) ► Tassos Kazinos Lambros Papadopoulos Vice Chairman, CEO, Executive Member Ioannis Vogiatzis ► Ioanni
Slide 29: Board of Directors
Corporate Governance Board of Directors LAMBROS PAPADOPOULOS TASSOS KAZINOS IOANNIS VOGIATZIS GEORGE KORMAS Chairman, Independent Non- Vice Chairman, CEO, Executive Member Non-Executive Member Non-Executive Member Executive Member ▪ 30 years of experience ▪ 30 years professional experience in the ▪
Slide 30: Disclaimer
Disclaimer This document has been prepared by TRASTOR Real The internal analysis has not been subject to Company is not providing any advisory, purchase or Estate Investment Company (hereinafter "TRASTOR'' independent verification. This presentation may sale recommendation, or any other instrument o
Slide 31: https://trastor.gr info@trastor.gr Trastor REIC
https://trastor.gr info@trastor.gr Trastor REIC
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