Slide 1: PATRIZIA H1 2018 Results Presentation
PATRIZIA Leading global partner for pan-European real estate investment H1 2018 Results Presentation 7 August 2018 PATRIZIA Immobilien AG PATRIZIA Bürohaus | Fuggerstrasse 26 | 86150 Augsburg | T +49 821 50910-000 | F +49 821 50910-999 | immobilien@patrizia.ag | www.patrizia.ag
Slide 2: H1 2018 results reflect strong growth in AUM and operating income
H1 2018 results reflect strong growth in AUM and operating income HIGHLIGHTS ASSETS UNDER MANAGEMENT (in EUR billion) ASSETS UNDER MANAGEMENT (AUM) AUM increased by 81% to EUR 39.6bn Slightly >40.0 47 39.6 | TRIUVA (EUR 9.6bn) 1.1 0.1 37 +81% Principal investments | Rockspring (EUR 7.0bn) | Tran
Slide 3: Operating income up 107% to EUR 72.5m
Operating income up 107% to EUR 72.5m INCOME BRIDGE H1 2018 INCOME BRIDGE | H1 2018 (in EUR million) Management fees of EUR 81.1m (H1 2017: EUR 45.0m; +80%) due to the inclusion of TRIUVA and Rockspring 32.8 -90.4 Transaction fees of EUR 17.5m -230.0 (H1 2017: EUR 18.7m; -6%) below previous — ye
Slide 4: Stronger pan-European platform drives diversified income streams
Stronger pan-European platform drives diversified income streams STRONG INCREASE OF SERVICE FEE INCOME TOTAL SERVICE FEE INCOME (in EUR million) 267.5 - 302.5 Total service fee income up 54% to EUR 135.8m driven by outstanding investment performance and 250 acquisition of TRIUVA and Rockspring 50.
Slide 5: Transaction volume outperforming overall market activity in H1 2018
Transaction volume outperforming overall market activity in H1 2018 TRANSACTION FEES OF EUR 17.5M TRANSACTION VOLUME (in EUR billion) Strong increase in transactions y-o-y despite 5 4.5 - 6.5 overall lower market activity; EUR 2.1bn in 4 6.5 H1 2018 vs. EUR 1.2bn in H1 2017 (+70%) — 3 EUR 0.8bn
Slide 6: Outstanding performance drives performance fee generation
Outstanding performance drives performance fee generation SUPERIOR RETURNS FOR INVESTORS TRANSLATE INTO ATTRACTIVE PERFORMANCE FEES Performance fees of EUR 37.2m in H1 2018 emphasise PATRIZIA’s active asset management capabilities and investment track record (weighted average IRR of 12.2%) Inves
Slide 7: Continued efficiency improvements propel profitability & cost ratios
Continued efficiency improvements propel profitability & cost ratios AUM VS. TOTAL COST RATIO EBITDAR MARGIN (+/- PRINCIPAL INVESTMENTS) (in EUR billion) vs. (in %) (in EUR million, LHS) vs. (in %) 45 1% Slightly >40.0 140 50% 1.21% 45.2% 40 1.14% 130 1% 45% 39.6 120 38.7% 35 40% 0.97% 0.98% 110 34.
Slide 8: Ample cash position to drive further growth & strategic development
Ample cash position to drive further growth & strategic development SOLID FINANCIAL POSITION Strong balance sheet ratios and capital structure to facilitate further profitable growth Total available liquidity amounts to EUR 530.8m as at 30.06.2018: | for M&A‘s in the investment management area (
Slide 9: Operating income guidance 2018e increased to EUR 100.0-110.0m
Operating income guidance 2018e increased to EUR 100.0-110.0m ASSUMPTIONS | 2018E INCOME BRIDGE | FY 2018 (in EUR million) 1 44% Guidance for total service fee income 84% 2018e: unchanged 62% -200.0 39.0 Net operating expenses are expected to — be lower in the amount of EUR 200.0m-210.0m 70.0
Slide 10: PATRIZIA – Investment Highlights
PATRIZIA – Investment Highlights 1 Leading listed European real estate investment firm 2 Broad institutional client base and strong fundraising momentum – globally 3 High quality services across the entire property value chain 4 Excellent track record in sought after European property investment mar
Slide 11: Appendix
Appendix PATRIZIA Immobilien AG| © 2018 11
Slide 12: Capital allocation
Capital allocation Assets under Invested capital Invested capital Management (fair value) (at cost) Participations Highlights 30.06.2018 in EUR million in EUR million in EUR million in % Invested capital Third-party business 33,262.0 in co-investments Co-investments 6,312.2 478.0 180.5 increased com
Slide 13: Reconciliation of Operating Income
Reconciliation of Operating Income EUR k H1 2018 H1 2017 EBITDA 69,015 37,012 Amortisation of other intangible assets1 and software, depreciation of -4,478 -2,769 property, plant and equipment EBIT 64,537 34,243 Financial income / expenses -2,345 -1,309 Result from currency translation 1,262 -1,844
Slide 14: Consolidated Income Statement
Consolidated Income Statement EUR k H1 2018 H1 2017 Revenues 160,105 105,903 Income from the sale of investment property 591 227 Changes in inventories -21,703 -7,367 Other operating income 8,396 11,343 Income from the deconsolidation of subsidiaries 179 0 Total operating performance 147,568 110,106
Slide 15: Consolidated Statement of Financial Position | Assets
Consolidated Statement of Financial Position | Assets ASSETS EUR k 30.06.2018 31.12.2017 A. Non-current assets Difference amount before purchase price allocation 118,784 0 Goodwill 144,388 7,366 Other intangible assets 131,718 35,224 Software 11,559 11,207 Investment property 6,417 15,979 Equipment
Slide 16: Consolidated Statement of Financial Position | Equity and Liabilities
Consolidated Statement of Financial Position | Equity and Liabilities EQUITY AND LIABILITIES EUR k 30.06.2018 31.12.2017 A. Equity Share capital 90,918 89,555 Capital reserves 153,100 129,545 Retained earnings Legal reserves 505 505 Currency translation difference -11,917 -11,586 Revaluation reserve
Slide 17: Financial Calendar
Financial Calendar 2018 August 7 Interim Report for the first half of 2018 November 14 Quarterly Statement for the first nine months of 2018 2019 March 21 Annual Report 2018 May 16 Quarterly Statement for the first quarter of 2019 May 22 Annual General Meeting, Augsburg August 7 Interim
Slide 18: Contact
Contact KARIM BOHN MARTIN PRAUM CFO GROUP HEAD OF IR PATRIZIA Immobilien AG T +49 821 50910-402 PATRIZIA Bürohaus F +49 821 50910-399 Fuggerstrasse 26 M +49 151 19685445 86150 Augsburg martin.praum@patrizia.ag Germany VERENA SCHOPP DE LAURA WANZL ALVARENGA MANAGER IR MANAGER IR T +49 821 50910-347 T