Vgp Nv · EURONEXT:VGP
Vgp Nv — Investor Presentation (November 2021)
24 slides from Vgp Nv's investor presentation, November 2021
Slide 1: VGP Company Presentation November 2021
VGP Company Presentation November 2021 . | “A, www.vgpparks.eu j} \ .
Slide 2: Family-Owned, Listed & Pan-European
(click on the logo for our brand new corporate movie) Family-Owned, Listed & Pan-European. Today, VGP is a truly European family-owned company with a locally anchored presence in each country we operate in. Whilst the VGP family keeps growing, we adhere to our core house principles of trying hard to
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Slide 4: VGP key figures
◼ ◼ ◼ ◼ ◼ ◼ ◼ 1. Including France (office opening Dec 2021) 2. Gross Asset Value of VGP, including own portfolio and joint ventures at 100% as of 30 June 2021 3. Including JV portfolio at 100% 4. Refers to WAULT of JV and Own portfolio combined. 5. Started-up after 1 January 2020. 6. Operating EBITD
Slide 5: Overview of VGP Parks as of June 2021
5 Overview of VGP Parks as of 30 June 2021
Slide 6: Key ESG goals of VGP
Key ESG goals of VGP: BUILDING _ Net carbon neutrality by 2025 target introduced in 2021 VGP Topar TODAY income generating renewable energy assets BREEAM Very Good or equivalent it 2 TT ea I CDP and GR
Slide 7: VGP history and milestones
◼€309mm in 2 ABBs (€200mm Apr; €109mm Sep) ◼Launch of JVs for VGP Park München and for VGP Park Moerdijk (development JVs) ◼Further expansion throughout Western ◼Established and Southern- partnership with Europe Allianz Real Estate ◼Expansion to Germany ◼Expansion through CEE and Baltics ◼VGP founde
Slide 8: Fully integrated business model with in-house capabilities and competences
Fully integrated business model with in-house capabilities and competences Land Concept & Design FOR RENT Portfolio BUILDING TODAY Ancillary Services = Identification of prime locations in or close to large metropolitan areas ® Evaluate potential projects, technical due diligence = Obtain the zoning
Slide 9: Unique strategy enabling growth
Unique strategy enabling growth VGP feuerrow ® Acquisition of strategic land bank ®™ Focus on large business parks = In-house team with capabilities across the development value chain Sale to one of the Joint Ventures Hold on own balance sheet = Long term real estate investor = Sale of income-genera
Slide 10: Agreement in principle with Allianz Real Estate for fourth joint venture
▪ Agreement in principle with Allianz Real Estate has been reached in respect of setting up a fourth joint venture ▪ This new joint venture is replacing the investment capacity of the First Joint Venture ▪ First two JVs have a combined investment target of €3.7 billion gross asset ▪ First Joint Vent
Slide 11: Premium asset base comprising modern and well-located parks
Premium asset base comprising modern and well-located parks VGP Park Olomouc VGP Park Frankenthal Construction 2016 (started) Completed2018 Total Gross Lettable area: Total Gross Lettable area: 147,022 m? 210,478 m2 sf Okm =—4K70km 8 Okm oom BENTELERV rakes happen ofe0km = 4x82km §Okm amazon —7 ne E
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Slide 13: Portfolio growth and projects as of 30 October 2021
6,000 5,387 5,000 900 13.72 4,000 Under option 3,341 1,925 3.2 2,810 3,000 900 2,522 1,996 900 205 2,000 900 146 719 10.5 288 2,562 7.7 1,000 446 2,236 5.6 6.2 1,764 4.7 1,333 831 - 2017 2018 2019 2020 2021 10M 2021 2017 2018 2019 2020 20211 2021 10M Projects held by JVs Projects held directly by VG
Slide 14: Capital expenditure and net cash from divestments
3,843 4,000 Own portfolio JVs-related1 3,500 2,771 3,000 2,500 2,923 1,936 2,000 1,506 1,978 1,500 1,195 1,360 878 1,000 645 920 500 628 793 550 576 - 2016 2017 2018 2019 2020 Capital expenditure €337.0m €261.0m €352.7m €539.5m €479.8m €1,970m Net cash from divestments €236.1m €155.7m €438.4m €339.0
Slide 15: Portfolio as of June 2021 including 100% of JVs
◼ ◼ As of 30 June 2021 1 Including 100% of JVs assets 15
Slide 16: Weighted average lease term and blue-chip top tenants
Weighted average term of the portfolio Blue-chip top 10 Tenants (JVs at 100%) Combined 8.7 years Krauss Maffei 11.6% Amazon 6.4% JV 7.6 years Zalando 5.8% Own 10.6 years Rhenus Logistics 4.1% years 0 2 4 6 8 10 12 14 Drylock Technologies 2.7% BMW Group 2.0% First Break WALT MediaMarktSaturn 1.9% 4PX
Slide 17: Geographical breakdown of development potential of land bank
Land owned Deployed Acquired Committed Letters of Dec 2020 10M 2021 10M 2021 intent 1 Geographical breakdown of development potential (split by value) of the owned and committed land bank ◼ ◼ As of 30 October 2021 17
Slide 18: Operating performance
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Slide 19: Operating profit up €22.1mm to €240.0mm
◼ Operating profit up €22.1mm to €240.0mm ◼ Driven by higher share of net profits of joint ventures and associates (up €65.8mm) partially offset by lower net valuation gains on investment properties (down €41.4mm) ◼ On a “look-through”- basis 1 net rental is up by € 5.1mm YoY to € 32.0mm ◼ Net valua
Slide 20: 1H 2021 segment reporting and operating EBITDA
◼ ◼ ◼ ◼ ◼ Please note the segment reporting disclosure in the notes of our 1H 2021 condensed consolidated interim financial statements press release for overview of adjustments to operating EBITDA 1 Capital expenditure directly incurred for the own portfolio amounts to € 216.9 million and amounts to
Slide 21: Investment properties and joint ventures
◼ Investment Properties of €1,264 mm ◼ Completed portfolio €195mm ◼ Under construction €709mm ◼ Development land €359mm ◼ Investment in Joint Ventures and associates increased to €752 mm: ◼ JV1: €532mm (D, CZ, SK, HU) ◼ JV2: €80mm (ES, RO, IT, NL, AT, PT) ◼ JV3: €128mm (München) ◼ JV4: €13mm (Moerdi
Slide 22: Shareholders' equity, liabilities and gearing
◼ Shareholders’ equity of €1,434mm ◼ Up €129mm since Dec ’20, despite €75mm dividend paid in 1H 2021 ◼ Total liabilities of €1,553 mm (2020: €922 mm) ◼ Financial debt of €1,379 mm (2020: €783 mm), increased due to issuance of a debut benchmark green bond1 ◼ Gearing at Jun ‘21 stood at 30.4%2 ◼ Well
Slide 23: Track record of the joint ventures
Lo BUILDING Track record of the joint ventures VGP Bisow First JV: VGP European Logistics Second JV: VGP European Logistics 2 Third JV: VGP Park Miinchen Austria Czech Italy Republic Netherlands Hungary Portugal Slovakia Romania Spain Seedc’ing JRC A c.€187mm (Jun ‘20) Net cash: €87mm Closing IV (Ma
Slide 24: Disclaimer
Disclaimer ABOUT VGP VGP is a pan-European developer, manager and owner of high-quality logistics and semi-industrial real estate. VGP operates a fully integrated business model with capabilities and longstanding expertise across the value chain. The company has a development land bank (owned or com