Castellana Properties Socimi Sa · BME:YCPS
Castellana Properties Socimi Sa — H1 FY2025 Earnings Presentation
31 slides from Castellana Properties Socimi Sa's earnings presentation, November 2024
Slide 1: H1FY25 Financial Results Presentation
H1FY25 April 2024 - September 2024 Financial Results Presentation
Slide 2: Key Highlights
1 KEY HIGHLIGHTS 1.1 Highlights 1.2 Main KPIs performance H1FY25 2
Slide 3: 1.1 Highlights
FINANCIAL RESULTS PRESENTATION H1FY25 1.1 HIGHLIGHTS OPERATIONAL PERFORMANCE ▪ Like-for-Like GRI growth of +2.3% and NOI growth of +2.1% compared to H1FY24 ▪ GAV of €1,223 million at September 2024, Like-for-Like +2.6% versus March 2024 ▪ EPRA NTA of €816 million (+ c.19% vs March 2024) or €7.07 per
Slide 4: 1.2 Main KPIs Performance H1FY25
FINANCIAL RESULTS PRESENTATION H1FY25 1.2 MAIN KPIs PERFORMANCE H1FY25 15 365,543sqm 2.1% 98.6% 10.3 years 99% ASSETS GLA NOI LIKE-FOR-LIKE OCCUPANCY(i) WAULT (ii) RENT COLLECTION GROWTH Operational €29 million €36 million €403 million 5.30% 33.0% FFO/EPRA GRI NET DEBT(iii) ALL-IN COST NET LTV(iv) E
Slide 5: Operational Highlights
2 OPERATIONAL HIGHLIGHTS 2.1 Footfall & Sales Index 2.2 Sales performance per tenant category 2.3 Investment in LAR España 2.4 Sale of Mejostilla Retail Park 5
Slide 6: 2.1 Footfall and Sales Index
FINANCIAL RESULTS PRESENTATION H1FY25 2.1 FOOTFALL AND SALES INDEX STEADY GROWTH IN FOOTFALL AND SALES FOOTFALL & SALES RECOVERY INDEX 2019=100 FOOTFALL ▪ The accumulated number of visits for the portfolio increased by +3.2% YTD SEP‘23 vs YTD SEP’24. ▪ All assets are performing well. Worth highlight
Slide 7: 2.2 Sales Performance per Tenant Category
FINANCIAL RESULTS PRESENTATION H1FY25 2.2 SALES PERFORMANCE PER TENANT CATEGORY ANOTHER YEAR WITH POSITIVE GROWTH RATES € The Homeware category has experienced substantial growth in the last six months, outperforming the Fashion category. This increase is primarily attributed to a notable +15% rise
Slide 8: 2.3 Investment in Lar España
FINANCIAL RESULTS PRESENTATION H1FY25 2.3 INVESTMENT IN LAR ESPAÑA Z € Ñ ▪ After analysing different alternatives, Castellana has accepted to sell its 28.8% stake in Lar España for an improved cash offer of €8.3 per share through an irrevocable undertaking with Helios, the consortium formed by Hines
Slide 9: 2.4 Sale of Mejostilla Retail Park
FINANCIAL RESULTS PRESENTATION H1FY25 2.4 SALE OF MEJOSTILLA RETAIL PARK CASTELLANA PROPERTIES SELLS MEJOSTILLA RETAIL PARK, IN CÁCERES, TO K Z € KEY DIVESTMENT HIGHLIGHTS ▪ Mejostilla is a grocery-anchored retail park that has demonstrated a solid and stable evolution in performance since acquisiti
Slide 10: H1FY25 Financial Results
3 H1FY25 FINANCIAL RESULTS 3.1 Group Funds From Operations (FFO) 3.2 Financial Debt position 3.3 GRI Bridge and breakdown 3.4 GAV Bridge and breakdown 3.5 EPRA BPR Metrics 10
Slide 11: 3.1 Group Funds From Operations (FFO)
FINANCIAL RESULTS PRESENTATION H1FY25 3.1 GROUP FUNDS FROM OPERATIONS (FFO) CASTELLANA PROPERTIES CONTINUES TO DELIVER MARKET- LEADING OPERATIONAL RESULTS € h sa H1FY24 H1FY25 Gross rental income (GRI) 35,255 35,861 ▪ NOI amounted €32.8 million for H1FY25. On a Like-for- Like(i) basis and comparing
Slide 12: 3.2 Financial Debt Position
FINANCIAL RESULTS PRESENTATION H1FY25 3.2 FINANCIAL DEBT POSITION € 31/03/2024 30/09/2024 Gross Asset Value (GAV)(i) 1,201 1,223 € million Gross Debt(ii) 500 444 500.4 (56.8) 444.6 Cash 35 41 Net Debt(ii)(iv) 465 403 Metrics Gross LTV(iii) 41.7% 36.3% Net LTV(iv) 38.8% 33.0% Fixed rate debt 43.4% 93
Slide 13: 3.3 GRI Bridge and Breakdown
FINANCIAL RESULTS PRESENTATION H1FY25 3.3 GRI BRIDGE AND BREAKDOWN € K -FOR-LIKE GROWTH OF 2.3% NOI LIKE-FOR-LIKE GROWTH OF 2.1% VERSUS H1FY24 SHOPPING CENTRES € million € million 72% RETAIL PARKS € 28% LfL GROWTH 76 2.3%(ii) 35.3 0.8 35.9 (0.2) GRI ASSET LIKE-FOR-LIKE GRI ANNUALISED H1FY24 DIVESTME
Slide 14: 3.4 GAV Bridge and Breakdown
FINANCIAL RESULTS PRESENTATION H1FY25 3.4 GAV BRIDGE AND BREAKDOWN TOTAL GAV INCREASE 2.6% COMPARED TO MARCH 2024 STRONG NOI GROWTH AND ACTIVE ASSET MANAGEMENT WERE KEY DRIVERS OF 1.1% GROWTH IN DIRECT PORTFOLIO VALUE WITH NO CHANGE IN CAP RATES € million Direct Portfolio Value Total GAV like-for-li
Slide 15: 3.5 EPRA BPR Metrics
FINANCIAL RESULTS PRESENTATION H1FY25 3.5 EPRA BPR METRICS 2019 2020 2021 2022 2023 2024 € 816 million € 29 million 6.78% 1.97% EPRA EPRA EPRA NTA EPRA NIY Vacancy rate Earnings adjusted € 7.07 € 0.27 7.09% 19.76% EPRA NTA EPRA EPRA EPRA per share Earnings adjusted “ e - ” Cost ratio(i) per share i.
Slide 16: Value Creation
4 VALUE CREATION 4.1 Operating metrics & Leasing Activity 4.2 Value Added Project - El Faro Hipercor 4.3 Value Added Project - Vallsur Repositioning 4.4 Project Trio 4.5 Customer centricity 4.6 ESG 16
Slide 17: 4.1 Operating Metrics & Leasing Activity
FINANCIAL RESULTS PRESENTATION H1FY25 4.1 OPERATING METRICS & LEASING ACTIVITY HIGHEST OCCUPANCY AND COLLECTION RATE IN THE MARKET KEY KPIs SEPTEMBER 2024 OCCUPANCY(iii) 30 SEPTEMBER 2024 98.6% 83 € 6.9 million 31 MARCH 98.9% LEASES SIGNED NEW RENT SIGNED 2024 16 67 € € RENEWALS NEW CONTRACTS RENEWA
Slide 18: 4.2 Value Added Project - El Faro Hipercor
FINANCIAL RESULTS PRESENTATION H1FY25 4.2 VALUE ADDED PROJECT - EL FARO HIPERCOR HIGH DEMAND FROM THE MAJOR BRANDS TAKES PRE-LETTING TO 80% ▪ Contract signed with LEFTIES (6,742 m2), FITNESS PARK (2,828 m2), MANGO ( 1,260 m2 ), PRIMOR (2,076 m2), ALVARO MORENO (1,356 m2), and LOTTERY (30 m2), ▪ Adva
Slide 19: 4.3 Value Added Project - Vallsur Repositioning
FINANCIAL RESULTS PRESENTATION H1FY25 4.3 VALUE ADDED PROJECT - VALLSUR REPOSITIONING PHASE I IN NUMBERS ▪ 14.8% increase in number of visits YTD SEP 24 vs YTD SEP 23. ▪ Sales grew by 5.8% in the F&B category since La Chismería opened in December 2023. ▪ Feedback on top brands’ performance: Higher s
Slide 20: 4.4 Project Trio
FINANCIAL RESULTS PRESENTATION H1FY25 4.4 PROJECT TRIO Q € RIO SUL 8 AVENIDA LOURES ▪ Castellana has entered the Portuguese market by acquiring a high-quality and diversified portfolio of 3 shopping centers located in Lisbon and Porto for a total net purchase price of €176.5 million. 8 AVENIDA ▪ The
Slide 21: 4.5 Customer Centricity
FINANCIAL RESULTS PRESENTATION H1FY25 4.5 CUSTOMER CENTRICITY CREATING MORE EXPERIENTIAL AND COMMITTED SPACES IN OUR MALLS REWARDS PROGRAM NEW SERVICES ASSOCIATED WITH THE CLUB NEW RESTING AREAS After six months of activation of the rewards program Bookcrossing Service Gradually improving our custom
Slide 22: 4.5 Customer Centricity: The Chocolate Factory
FINANCIAL RESULTS PRESENTATION H1FY25 4.5 CUSTOMER CENTRICITY BRINGING NEW UNIQUE AND DIFFERENTIAL EVENTS: “THE CHOCOLATE FACTORY” Over 350,000 visitors came to our shopping centers to experience our 2024 magical roadshow, The Chocolate Factory From February to August, "The Chocolate Factory" was pr
Slide 23: 4.6 ESG Road Map (1/2)
FINANCIAL RESULTS PRESENTATION H1FY25 4.6 ESG CASTELLANA PROPERTIES SUCCESSFULLY CONTINUES WITH ITS ESG ROAD MAP (1/2) AT CORPORATE LEVEL We have completed the implementation of our first ESG strategy, launched in 2021, which has enabled us to achieve, in just three years, the highest recognitions i
Slide 24: 4.6 ESG Road Map (2/2)
FINANCIAL RESULTS PRESENTATION H1FY25 4.6 ESG CASTELLANA SUCCESSFULLY CONTINUES WITH ITS ESG ROAD MAP (2/2) OTHER ACHIEVEMENTS NEXT STEPS NEW ESG STRATEGY “BEYOND ESG BOUNDARIES” BREEAM The successful implementation of all actions in our first strategy 100% of portfolio is currently certified. has d
Slide 25: 4.6 Investing and Encouraging Entrepreneurship
FINANCIAL RESULTS PRESENTATION H1FY25 4.6 ESG INVESTING AND ENCOURAGING ENTREPRENEURSHIP HAND IN HAND WITH OUR COMMUNITIES We are developing new initiatives to promote local talent and entrepreneurship. We turn our shopping centers into small business hubs, helping new brands to have a space where t
Slide 26: Appendix
5 APENDIX 5.1 Portfolio 5.2 Top Assets Overview 5.3 ESG Assessment Landscape 26
Slide 27: 5.1 Portfolio
FINANCIAL RESULTS PRESENTATION H1FY25 5.1 PORTFOLIO PARQUE PRINCIPADO VALLSUR PARQUE OESTE CIUDAD DEL TRANSPORTE EL FARO LA SERENA Andalucía 6 activos Asturias 1 activo LA HEREDAD HABANERAS Castilla y León 1 activo C. Valenciana 2 activos GRANAITA MARISMAS DEL POLVORÍN LOS ARCOS PINATAR Extremadura
Slide 28: 5.2 Top Assets Overview
FINANCIAL RESULTS PRESENTATION H1FY25 5.2 TOP ASSETS OVERVIEW EL FARO BAHÍA SUR LOS ARCOS GRANAITA HABANERAS PUERTA EUROPA VALLSUR PARQUE OESTE PROVINCE BADAJOZ SAN FERNANDO SEVILLA GRANADA TORREVIEJA ALGECIRAS VALLADOLID MADRID AREA 60,945 sqm 35,420 sqm 26,774 sqm 55,861 sqm 24,892 sqm 29,894 sqm
Slide 29: 5.3 ESG Assessment Landscape
FINANCIAL RESULTS PRESENTATION H1FY25 5.3 ESG ASSESMENT LANDSCAPE ESG European Sustainability Reporting Standards ENVIRONMENTAL SOCIAL GOVERNANCE CORPORATE LEVEL ASSET LEVEL 29
Slide 30: Disclaimer
FINANCIAL RESULTS PRESENTATION H1FY25 DISCLAIMER PURPOSE OF THIS PRESENTATION AND LIABILITY ACCOUNTING STANDARDS APPLIED This document has been prepared by Castellana Properties SOCIMI, S.A. ("Castellana Properties") This document and the information presented herein was prepared by Castellana Prope
Slide 31: Rubén Darío, 3 28010 Madrid castellanaproperties.es
Rubén Darío, 3 28010 Madrid (+34) 91 426 86 86 castellanaproperties.es
Castellana Properties SOCIMI — H1 FY2025 Earnings Presentation on 6ix