Deutsche Konsum Real Estate Ag · XETR:DKG
Deutsche Konsum Real Estate — Deutsche Konsum REIT-AG — 9M 2023/2024 Earnings Presentation
34 slides from Deutsche Konsum Real Estate's earnings presentation, Aug 14, 2024
Slide 1: 9M 2023/2024 Financial Results
1 9M 2023/2024 FINANCIAL RESULTS 1 October 2023 – 30 June 2024 14 August 2024 9M 2023/2024 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 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 in
Slide 3: Highlights
3 HIGHLIGHTS 9M 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 4: Highlights 9M 2023/2024
HIGHLIGHTS 9M 2023/2024 4 Operative business remains stable – refinancing of corporate bonds completed Stable operational business / FFO impacted by higher debt costs ➢ Rental income almost flat at 59.2 MEUR (up 0.9% y-o-y) – portfolio almost unchanged in both periods ➢ Net rental income slightly in
Slide 5: Financial Key Figures
FINANCIAL KEY FIGURES 5 Rental Income almost flat; FFO affected by rising financing costs Rental income FFO FFO per share (KEUR) (KEUR) (EUR) 58,718 59,239 27,044 0.77 24,060 0.68 9M 2022/2023 9M 2023/2024 9M 2022/2023 9M 2023/2024 9M 2022/2023 9M 2023/2024 aFFO per share Investment properties EPRA
Slide 6: Property Portfolio
6 PROPERTY PORTFOLIO 9M 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 7: Property Portfolio
PROPERTY PORTFOLIO 7 Property portfolio consists of 183 properties with approx. 1,070,000 sqm >> Portfolio development: Schleswig- Mecklenburg Holstein - Pommerania 30/09/2022 30/09/2023 30/06/2024 Pro Forma (incl. notarized disposals and acquisitions) Lower Saxony Number of 175 184 183 164 properti
Slide 8: Annualized rent and vacancy affected by insolvency of warehouse group real
PROPERTY PORTFOLIO 8 Annualized rent and vacancy negatively affected by the insolvency of warehouse group “real” Annualized rent (MEUR) Vacancy (%) 79.2 75.9 72.9 73.2 13.6 63.1 11.7 11.7 10.7 9.9 30.09.2020 30.09.2021 30.09.2022 30.09.2023 30.06.2024 30.09.2020 30.09.2021 30.09.2022 30.09.2023 30.0
Slide 9: Tenant Structure
TENANT STRUCTURE 9 68% Rent contribution from non-cyclical tenants (80% including DIY) >> Rent contribution by tenant classification (MEUR)1: >> Rent contribution by major tenants1 : Rent WALT Tenant group Brands (MEUR) in years Other cyclical Non- Edeka Group 8.9 4.3 uses cyclical Schwarz Group 11.
Slide 10: Tenant Structure: No large single-tenant exposure
TENANT STRUCTURE 10 No large single-tenant exposure >> Number of leases with the same tenant group1: >> Annualized rents allocated to years of lease contract maturities1: 80 35 70 1 30 1 6 60 6 25 No. of lease contracts 50 Rent p.a. MEUR 20 23 40 15 2 11 30 6 10 20 10 3 30 4 26 5 10 15 17 12 12 12 1
Slide 11: Valuation Potential of the Portfolio
VALUATION POTENTIAL OF THE PORTFOLIO 11 Share currently trades around 11% 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 12: Financing
12 FINANCING 9M 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 13: Financing: Debt structure
FINANCING 13 Debt structure >> Financial KPIs: Debt allocation (MEUR, outstanding debt as of 31/07/2024) Corporate bond 2021/2031 (unsecured) 30/06/2024 30/09/2023 V. % 12.1 8.2 30.0 Promissory notes Total financial debt (loans + bonds), MEUR 629.6 638.1 -1.3 67.5 Ø Senior secured debt cost, % p.a.
Slide 14: Financials 9M 2023/2024
14 FINANCIALS 9M 2023/2024 9M 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 15: IFRS Balance Sheet
FINANCIALS 9M 2023/2024 15 IFRS balance sheet KEUR 30/06/2024 30/09/2023 KEUR 30/06/2024 30/09/2023 Assets Equity and liabilities Reduction due to Investment properties 905,461.8 989,013.9 Subscribed capital 35,155.9 35,155.9 notarized sales Other non-current assets 934.3 954.1 Capital reserves 197,
Slide 16: LTV and NAV / EPRA NTA
FINANCIALS 9M 2023/2024 16 LTV and NAV / EPRA NTA >> Net LTV (loan-to-value): >> NAV / EPRA NTA per share: KEUR 30/06/2024 30/09/2023 NAV Conversion EPRA NTA (undiluted) effects of (diluted) KEUR Bank loans 406,345.5 423,416.1 convertible 30/06/2024 bonds 30/06/2024 Convertible bonds 46,902.5 36,763
Slide 17: IFRS Income Statement
FINANCIALS 9M 2023/2024 17 IFRS income statement Split of net operating costs: 01/10/2023 – 01/10/2022 – KEUR % 30/06/2024 30/06/2023 thereof 9M 9M (KEUR) 2023/2024 2022/2023 Rental income 59,239.4 58,717.8 0.9 Non-recs -7,126 -7,058 Income from recharged operating costs 14,549.9 12,240.7 18.9 Maint
Slide 18: FFO Reconciliation
FINANCIALS 9M 2023/2024 18 FFO reconciliation >> FFO/aFFO: 01/10/2023 01/10/2022 % KEUR – – 30/06/2024 30/06/2023 Total period income 15,682.1 19,670.6 -20.3 Deferred taxes +/- Income taxes 4,348.6 0.0 - + Depreciation of other assets 97.3 25.6 >100 Contains non-cash items due to IFRS valuation of d
Slide 19: Headline Earnings per Share (HEPS) Reconciliation
FINANCIALS 9M 2023/2024 19 Headline Earnings per share (HEPS) reconciliation according to JSE rules >> HEPS: 01/10/2023 01/10/2022 % KEUR – – 30/06/2024 30/06/2023 Total period income (undiluted) 15,682.1 19,670.6 -20.3 -/+ Revaluation gains / losses, IAS 40 0.0 0.0 0.0 -/+ Revaluation gains / losse
Slide 20: Share Information
20 Share information 9M 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 21: Share Information
SHARE INFORMATION 21 >> Basic Share Information >> Shareholder Structure as of 30 June 2024 As at 12/08/2024 Paladin Asset Management / ISIN DE000A14KRD3 Marcel Maschmeyer Share price (Xetra, 12 August 2024) EUR 2.64 5.09% MFS Investment Management Symbol DKG 5.24% Shares outstanding 35,155,938 Zere
Slide 22: Financial calendar and IR contact
22 Financial calendar and IR contact 9M 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 23: Financial Calendar and IR Contact
FINANCIAL CALENDAR AND IR CONTACT 23 >> Financial calendar >> Conferences Date Date 14/08/2024 Publication of the quarterly statement 26/11/2024 Deutsches Eigenkapitalforum, for the third quarter of 2023/2024 Frankfurt am Main financial year 19/12/2024 Publication of the final annual statements/annu
Slide 24: ESG
24 ESG 9M 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 25: ESG at DKR I
ESG at DKR I 25 Building Tomorrow: DKR's ESG Vision and Strategic Blueprint ➢ At Deutsche Konsum REIT-AG, we are committed to fostering sustainable urban development by integrating ecological, social, and governance principles into our business operations. We strive to minimize our environmental foo
Slide 26: ESG at DKR II
ESG at DKR II 26 DKR has set up the following measures to enhance ESG conformity Environmental Social Governance • EV Charging Stations: 148 DKR locations • Diverse Workforce: Commitment to • Corporate Governance: Adherence to the equipped with state-of-the-art electric vehicle maintaining an intern
Slide 27: ESG at DKR III
ESG at DKR III 27 Achievements Driving Our Sustainability Journey ➢ Expansion of DGNB Gold-Certified Assets in 2023: This year, DKR proudly expanded its portfolio of DGNB Gold-certified properties, with flagship projects like the PENNY Markt in Stralsund and the REWE Market in Bitterfeld. These cert
Slide 28: ESG at DKR IV
ESG at DKR IV 28 Achievements Driving Our Sustainability Journey ➢ Advancing Carbon-Free Gas Initiatives: DKR has taken a significant step toward reducing its carbon footprint by purchasing carbon-free gas certificates. These certificates, valid from 2021 to 2025, offset the gas consumption across o
Slide 29: ESG at DKR V
ESG at DKR V 29 DKRs Sustainability Report published >> ESG reporting ➢ Sustainability Report for the calendar year 2023 published and available on DKR’s website ➢ DKR‘s Sustainability Reports for the calendar years 2019, 2020, 2021 and 2022 have been awarded with the EPRA sBPR Silver Award ➢ DKR wa
Slide 30: Appendix
30 APPENDIX 9M 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 31: Historical KPI Development
HISTORICAL KPI DEVELOPMENT 31 Continuously high growth since inception Financial year 2022/2023 2021/2022 2020/2021 2019/2020 2018/2019 2017/2018 2016/2017 2015/2016 Income statement Rental income (KEUR) 79,722 74,390 69,667 56,231 41,978 28,601 19,249 11,437 FFO (KEUR) 33,131 41,115 34,991 25,041 1
Slide 32: Management
MANAGEMENT 32 Experienced and committed management Alexander Kroth (CIO) Kyrill Turchaninov (CFO) Alexander joined DKR in January 2017 and Kyrill joined DKR in June 2024 and is initially set up the Company together with Rolf responsible for Finance, Accounting and IR. Elgeti. He is in charge of DKRs
Slide 33: Partners
PARTNERS 33 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 9M 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 34: Portfolio Details
PORTFOLIO DETAILS 34 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 30 June 2024 (Excel file) Interactive Map 9M 2023/2024 financial results | Deutsche Konsum REIT-AG
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