Deutsche Konsum Real Estate Ag · XETR:DKG
Deutsche Konsum Real Estate — Deutsche Konsum REIT-AG — Q1 2024/2025 Earnings Presentation
32 slides from Deutsche Konsum Real Estate's earnings presentation, Feb 14, 2025
Slide 1: Q1 2024/2025 Financial Results
1 Q1 2024/2025 FINANCIAL RESULTS 1 October 2024 – 31 December 2024 14 February 2025 Q1 2024/2025 financial results | Deutsche Konsum REIT-AG
Slide 2: Disclaimer
Disclaimer 2 The material in this presentation has been prepared by Deutsche Konsum REIT-AG (“DKR”) and is a general background information about DKR’s activities current as at the date of this presentation. This information is given in summary form and does not purport to be complete. Information i
Slide 3: Highlights
3 HIGHLIGHTS Q1 2024/2025 financial results | Deutsche Konsum REIT-AG
Slide 4: Highlights Q1 2024/2025
HIGHLIGHTS Q1 2024/2025 4 Highlights and results Stable operational business (Q1 2024/2025 vs. Q4 2023/2024) ➢ Rental income decreased by 0.5 TEUR to 17.7 MEUR (down 2.9%) – due to assets sales ➢ Net rental income increased by 0.3 TEUR to 10.6 MEUR (up 3.0%), mainly due to lower property costs ➢ FFO
Slide 5: Financial Key Figures
FINANCIAL KEY FIGURES 5 Solid business development Rental income FFO FFO per share (k EUR) (k EUR) (EUR) 19,913 17,675 0.23 8,020 4,701 0.13 Q1 2023/2024 Q1 2024/2025 Q1 2023/2024 Q1 2024/2025 Q1 2023/2024 Q1 2024/2025 aFFO per share Investment properties EPRA NTA per share (fully diluted) (EUR) (k
Slide 6: Property Portfolio
6 PROPERTY PORTFOLIO Q1 2024/2025 financial results | Deutsche Konsum REIT-AG
Slide 7: Property Portfolio
PROPERTY PORTFOLIO 7 Property portfolio consists of 165 properties with approx. 992,000 sqm >> Portfolio development: 30/09/2023 30/09/2024 31/12/2024 Schleswig- Mecklenbu Holstein rg- Pommeran Number of properties 184 167 165 ia Rental space (sqm) 1,083 994 992 Lower Total fair value (MEUR) 996.9 8
Slide 8: Property Portfolio: Annualized rent and vacancy
PROPERTY PORTFOLIO 8 Annualized rent and vacancy negatively effected by the insolvency of warehouse group “real”, property sales Annualized rent (m EUR) Vacancy (%) 79.2 14.5 72.9 73.2 14.0 69.7 69.0 11.7 11.7 10.7 30.09.2021 30.09.2022 30.09.2023 30.09.2024 31.12.2024 30.09.2021 30.09.2022 30.09.20
Slide 9: Tenant Structure
TENANT STRUCTURE 9 66% Rent contribution from non-cyclical tenants (79% including DIY) >> Rent contribution by tenant classification (m EUR)1: >> Rent contribution by major tenants1 : Non- Rent WALT Tenant group Brands Other cyclical cyclical (m EUR) in years uses rents Edeka Group 7.6 4.7 Schwarz G
Slide 10: Tenant Structure: Resilient rental income
TENANT STRUCTURE 10 Resilient rental income/ 48% in 5+ year leases 1 30 25 20 Rent p.a. MEUR 15 10 5 0 1 2 3 4 5 6+ without expiration • WALT as of 31 December 2024: 4.4 years 1 Based on current portfolio (165 properties) Q1 2024/2025 financial results | Deutsche Konsum REIT-AG
Slide 11: Tenant Structure: Strong tenant partnerships
TENANT STRUCTURE 11 DKR has strong tenant partnerships >> Number of leases with the same tenant group1: No. of lease contracts • Multiple leases with the same tenant strengthens DKRs position towards the tenants 1 Based on current portfolio (165 properties) Q1 2024/2025 financial results | Deutsche
Slide 12: Valuation Potential of the Portfolio
VALUATION POTENTIAL OF THE PORTFOLIO 12 Share currently trades around 10% yield (fully diluted) >> EPRA NTA impact from factor increases (c.p.) shows further upside potential: Hypothetical Annualized Hypothetical Portfolio Net debt EPRA NTA Number of EPRA NTA total portfolio valuation Yield value Ne
Slide 13: Financing
13 FINANCING Q1 2024/2025 financial results | Deutsche Konsum REIT-AG
Slide 14: Financing: Debt structure
FINANCING 14 Debt structure >> Financial KPIs: Debt allocation (MEUR, outstanding debt as of 31/12/2024) Corporate bond 31/12/2024 30/09/2024 V. % 2021/2031 (unsecured) Total financial debt (loans + bonds), MEUR 492.4 549.5 -10.4 12,1 7,9 30,0 Promissory notes Ø Senior secured debt cost, % p.a. 2.87
Slide 15: Financials Q1 2024/2025
15 FINANCIALS Q1 2024/2025 Q1 2024/2025 financial results | Deutsche Konsum REIT-AG
Slide 16: Condensed IFRS balance sheet
FINANCIALS Q1 2024/2025 16 Condensed IFRS balance sheet k EUR 31/12/2024 30/09/2024 k EUR 31/12/2024 30/09/2024 Assets Equity and liabilities Purchase of Weißwasser and Investment properties 865,412.4 860,963.5 Subscribed capital 40,728.6 35,155.9 capitalization of Bond conversion Other non-current
Slide 17: LTV and NAV / EPRA NTA
FINANCIALS Q1 2024/2025 17 LTV and NAV / EPRA NTA >> LTV (loan-to-value): >> NAV / EPRA NTA per share: k EUR 31/12/2024 30/09/2024 EPRA NAV Conversion EPRA NTA (undiluted) effects of (diluted) k EUR Bank loans 346,964.0 370,624.4 convertible 31/12/2024 bonds 31/12/2024 Convertible bonds 26,683.4 46,
Slide 18: Condensed IFRS income statement
FINANCIALS Q1 2024/2025 18 Condensed IFRS income statement Split of net operating costs: Q1 Q1 k EUR % 2024/2025 2023/2024 thereof Q1 Q1 (k EUR) 2024/2025 2023/2024 Rental income 17,675.0 19,912.8 -11.2 Portfolio reduction of 19 units Non-recs -2,931 -2,587 Income from recharged operating costs 3,83
Slide 19: FFO reconciliation
FINANCIALS Q1 2024/2025 19 FFO reconciliation >> FFO/aFFO: Q1 Q1 % k EUR 2024/2025 2023/2024 Total period income 1,739.8 6,510.5 -73.3 +/- Income taxes 1,197.1 345.5 >100 Deferred taxes for 2 sales + Depreciation of other assets 27.7 29.3 -5.3 Net result from property disposal 7.2 16.7 -56.9 Non-cas
Slide 20: HEPS reconciliation according to JSE rules
FINANCIALS Q1 2024/2025 20 Headline Earnings per share (HEPS) reconciliation according to JSE rules >> HEPS: Q1 Q1 % k EUR 2024/2025 2023/2024 Total period income (undiluted) 1,739.8 6,510.5 -73.3 -/+ Revaluation gains / losses, IAS 40 0.0 0.0 0.0 -/+ Revaluation gains / losses, IFRS 5 7.2 16.7 -56.
Slide 21: Share information
21 Share information Q1 2024/2025 financial results | Deutsche Konsum REIT-AG
Slide 22: Share Information
SHARE INFORMATION 22 >> Basic Share Information >> Shareholder Structure As at 12/02/2025 Paladin Asset Management / Versorgungsansta Marcel Maschmeyer ISIN DE000A14KRD3 lt des Bundes und 5.51% der Länder AöR Share price (Xetra, 12 February 2025) EUR 3.71 12.85% Symbol DKG Shares outstanding 43,351,
Slide 23: Financial calendar and IR contact
23 Financial calendar and IR contact Q1 2024/2025 financial results | Deutsche Konsum REIT-AG
Slide 24: Financial calendar and IR contact
FINANCIAL CALENDAR AND IR CONTACT 24 >> Financial calendar >> Conferences Date Date 14/02/2025 Publication of the quarterly statement March 2025 Solventis Aktienforum for the first quarter of 2024/2025 financial year 01/04/2025 Shareholders’ meeting 15/05/2025 Publication of the half-yearly financia
Slide 25: Appendix
25 APPENDIX Q1 2024/2025 financial results | Deutsche Konsum REIT-AG
Slide 26: Condensed IFRS income statement (QoQ)
FINANCIALS Q1 2024/2025 26 Condensed IFRS income statement Split of net operating costs: Q1 Q4 k EUR % 2024/2025 2023/2024 thereof Q1 Q4 (k EUR) 2024/2025 2023/2024 Rental income 17,675.0 18,198.2 -2.9 Non-recs -2,931 -2,686 Income from recharged operating costs 3,830.8 5,393.4 -29.0 Maintenance -2,
Slide 27: FFO reconciliation (QoQ)
FINANCIALS Q1 2024/2025 27 FFO reconciliation >> FFO/aFFO: Q1 Q4 % k EUR 2024/2025 2023/2024 Total period income 1,739.8 -13,386.7 >100 +/- Income taxes 1,197.1 10,082.1 -88.1 Higher deferred taxes in + Depreciation of other assets 27.7 34.0 -18.5 previous year Portfolio devaluation of 1.7% +/- Gain
Slide 28: HEPS reconciliation (QoQ)
FINANCIALS Q1 2024/2025 28 Headline Earnings per share (HEPS) reconciliation according to JSE rules >> HEPS: Q1 Q4 % k EUR 2024/2025 2023/2024 Total period income (undiluted) 1,739.8 -13,386.7 >100.0 -/+ Revaluation gains / losses, IAS 40 0.0 30,135.5 >100.0 -/+ Revaluation gains / losses, IFRS 5 7.
Slide 29: Historical KPI Development
HISTORICAL KPI DEVELOPMENT 29 Financial year 2023/2024 2022/2023 2021/2022 2020/2021 2019/2020 2018/2019 2017/2018 2016/2017 Income statement Rental income (k EUR) 77,438 79,722 74,390 69,667 56,231 41,978 28,601 19,249 FFO (k EUR) 27,963 33,131 41,115 34,991 25,041 16,647 10,260 41,168 FFO per shar
Slide 30: Management
MANAGEMENT 30 Experienced and committed management Lars Wittan (CIO) Kyrill Turchaninov (CFO) Lars joined DKR in February 2025 and is Kyrill joined DKR in June 2024 and is responsible for the operating business. He responsible for Finance, Accounting and IR. started his career in 2000 at Arthur Ande
Slide 31: Partners
PARTNERS 31 Strong external property partners >> DKRs main external management partners: Asset Manager Elgeti Brothers GmbH Property Manager Elgeti Brothers GmbH Appraiser Technical Property Developer IT and Management Software Providers Q1 2024/2025 financial results | Deutsche Konsum REIT-AG
Slide 32: Portfolio Details
PORTFOLIO DETAILS 32 DKRs detailed property portfolio Please find a detailed overview of DKR‘s property portfolio online under the following links: DKR property portfolio overview as at 31 December 2024 (Excel file) Interactive Map Q1 2024/2025 financial results | Deutsche Konsum REIT-AG
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