Hamborner Reit Ag · XETR:HABA
Hamborner Reit — Investor Presentation (May 2023)
36 slides from Hamborner Reit's investor presentation, May 2023
Slide 1: Company presentation May 2023
Company presentation May 2023 Office property Ingolstadt
Slide 2: Agenda
Agenda 1. HAMBORNER at a glance 2. Portfolio Overview 3. Asset Management 4. Financials 5. Sustainability / ESG 6. Appendix Agenda |2
Slide 3: 1. HAMBORNER at a glance
1. HAMBORNER at a glance Office property ‚Nu-Office‘ Munich
Slide 4: Company profile
Company profile History Company profile ▪ Public commercial property company 1953 Foundation of HAMBORNER ▪ Profitable and diversified German-wide property portfolio Listing on stock exchange ▪ Two-pillar portfolio structure with focus on food-anchored retail and 1954 office properties Clear focus o
Slide 5: The HAMBORNER Share
The HAMBORNER Share The HAMBORNER Share Shareholder structure Current share price €7.15 (as of 30 April 2023) Market capitalisation €581.6m (as of 30 April 2023) 12.20% RAG Foundation WKN/ISIN A3H233 / DE000A3H2333 Ticker symbol HABA 81,343,348 5.37% BlackRock shares Class of shares Registered Share
Slide 6: 2. Portfolio Overview
2. Portfolio Overview Office property Münster
Slide 7: Portfolio Strategy – Target Structure
Portfolio Strategy – Target Structure Retail Portfolio Office Portfolio Manage-to-Core properties Manage-to-Core properties 10-20% 10-20% with value-add potential with value-add potential Maintaining/extension of 80-90 % Maintaining/extension of 80-90% core retail portfolio with 80-90% core office p
Slide 8: Portfolio Management Approach
Portfolio Management Approach ▪ Retail Asset classes ▪ Office ▪ Core Risk profile ▪ Manage-to-Core ▪ > €10m (retail) Lot size ▪ > €20m (office) ▪ Focus on core investments ▪ Addition of selected Manage-to-Core properties with larger asset management need (refurbishment, reletting, repositioning etc.
Slide 9: Geographical Portfolio Structure
Geographical Portfolio Structure Geographical Focus (Metropolitan Regions in Germany) Portfolio by Metropolitan Regions Metropolitan Region Share of portfolio volume 1 Rhine-Ruhr 21.4% 8 2 Frankfurt Rhine-Main 12.2% 10 9 3 Berlin-Brandenburg 10.1% 3 4 Nuremberg 8.5% 5 Stuttgart 5.8% 1 11 6 Munich 5.
Slide 10: Portfolio development
Portfolio development 2.000 50 Portfolio value and average property value Comments 1,625 ▪ Continuous value-adding portfolio growth since 1,589 1,604 1,609 1,609 40 conversion into a G-REIT in 2010 1,517 1.500 1.363 ▪ Average annual growth rate of 10.7% over the last 10 years 1.115 30 ▪ Average prop
Slide 11: Transactions 2022
Transactions 2022 Acquisitions Disposals Freiburg Kempten Lemgo Asset type High-Street EH Selling price €3.0m Latest fair value €3.0m WALT 2.4 years(1) Gütersloh Asset type High-Street EH Selling price €2.1m Latest fair value €2.0m WALT 3.3 years(1) Asset type Retail Retail Herford Investment approa
Slide 12: Portfolio revaluation
Portfolio revaluation Portfolio development 2022 Comments ▪ Increase in portfolio value (+€49.3) due to Acquisitions 2022 Disposals 2022 Like-for-like Portfolio acquisition of two DIY properties in Freiburg and Kempten (incl. year-end revaluation gain of €0.6m) Portfolio value Portfolio value €1,608
Slide 13: Portfolio key metrics as of March 2023
Portfolio key metrics as of 31 March 2023 Asset class Total portfolio Investment approach Retail Office Split Core % Manage-to-Core % Number of properties 38 28 66 63 95.5% 3 4.5% Fair Value €881.7m €727.5m €1,609.2m €1,537.6m 95.5% €71.6m 4.5% Leased area 381,729 m² 229,609 m² 611,339 m² 584,139 m²
Slide 14: Rent development year on year
Rent development year on year Development of annualized rents year on year €3.9m -€0.7m -€1.5m €86.5m €1.6m -0.8% €83.2m -1.8% +4.7% +1.9% Annualized rents Acquisitions Indexation Re-lettings/ Disposals Annualized rents 31 March 2022 Vacancy change 31 March 2023 Rent development like-for-like/year-o
Slide 15: 3. Asset Management
3. Asset Management Retail property ‚Rondo Steinheim‘ Hanau
Slide 16: Manage-to-Core property Mainz
Manage-to-Core property Mainz Purchase 2021 New lease 2023 Leased area 7,748 m2 Accomodation Asset type Office for refugees WALT approx. 3.0 years approx. 4.8 years Tenant Professional association City of Mainz Fair value +21.5%(1) (1) Compared to original purchase price; based on year-end revaluati
Slide 17: Tenant base
Tenant base Top-10 tenants (as of 31 March 2023) Sector distribution (as of 31 March 2023) Tenant Sector Rent(1) Sector Rent(1) EDEKA Food retail 11.6% Food 31.6% Kaufland Food retail 7.5% DIY 11.9% REWE Food retail / DIY 7.1% IT/Communication 10.8% OBI DIY 6.9% Finance/Insurance 7.5% Globus Food re
Slide 18: Leasing situation
Leasing situation Weighted average lease expiry (as of 31 March 2023) Letting result Q1 2023 23,217 m² 14,386 m² 75% 8,831 m² 59% 99.9% 0.1% 7.5 years 41% 25% 5.2 years 6.5 years New lettings Contract extensions Total Retail Office Total Retail Office 30,0% Lease expiry schedule (as of 31 March 2023
Slide 19: 4. Financials
4. Financials Office property/Medical center Regensburg
Slide 20: Key figures Q1 2023
Key figures Q1 2023 Key figures 31 March 2023 31 March 2022 Change Profit and loss statement Income from rents and leases €22.2m €20.8m +6.7% Operating result €8.2m €5.3m +54.7% Profit for the period €5.0m €2.1m n/a Key KPIs Funds from Operations (FFO) €13.6m €11.0m +23.6% Funds from Operations (FFO
Slide 21: Funds from operations (FFO)
Funds from operations (FFO) in k€ Q1 2023 Q1 2022 Change Comments 1 Income from rents and leases 22,160 20,849 +6.3% ▪1 Income from rents and leases positively affected Income from passed on costs 3,694 3,421 by rent increases from property additions as +8.0% well as by indexation effects Operating
Slide 22: EPRA NAV & NTA
EPRA NAV & NTA NAV development 2023 €13.6m €0.6m €979.0m -€0.3m €978.7m €964.8m NAV FFO Like-for-like NAV Intangible NTA 31 Dec 2022 Revaluation 31 March 2023 Assets 31 March 2023 NAV p/s NAV p/s NTA p/s +1.4% €11.86 €12.03 €12.03 Positive NAV development mainly driven by stable earnings situation
Slide 23: Financial situation
Financial situation Expiration of financial liabilities (as (asofof3131March December 2023) 2021) 60.4% REIT equity ratio 38.2% LTV 1.7% 9.7x Net debt/EBITDA(1) 4.4x 20.2% EBITDA/Interest coverage 16.2% 13.2% 12.7% 12.2% €715.8m 8.2% 7.3% Financial liabilities(2) 2.5% 2.8% 3.0% 1.8% 2023 2024 2025 2
Slide 24: Guidance 2023
Guidance 2023 €88.0 – 89.5m Rental income €50.0m – €52.0m FFO Slightly below previous year‘s level NAV per share Financials | 24
Slide 25: 5. Sustainability / ESG
5. Sustainability / ESG Office property Neu-Isenburg
Slide 26: ESG organization
ESG organization Supervisory Board Internal Sustainability Committee ▪ Sustainability Committee consisting Supervisory Management of Management Board members and Management ESG Board Board the ESG Officers from individual Board ▪ Advising and monitoring ESG Committee of Management Board business are
Slide 27: ESG strategy
ESG strategy Strategic development and guidelines Key Action Areas ▪ Integration of sustainability/ESG criteria into overall strategy ▪ Implementation of strategic sustainability programme ▪ Planning and controlling of sustainability activities by internal Corporate Environmental Governance Manageme
Slide 28: ESG management | Progress in key action areas
ESG management | Progress in key action areas Key Action Area Progress 2022 ▪ Ongoing data management optimisation and database expansion ▪ Set up of full carbon footprint for entire property portfolio Environmental Management as a basis for long-term decarbonisation strategy/targets & Climate Prote
Slide 29: ESG KPIs
ESG KPIs Key environmental KPIs 2021(1) Emission data 2021 (Scope 1-3)(1) Total energy intensity Water Waste Emission intensity (Heating & Electricity) intensity intensity Total portfolio 174.9 kWh/m² 295.4 l/m² 28.0 kg/m² 57.0 kg CO2e/m² +8.5% +5.9% +0.5% +14.5% like-for-like like-for-like like-for
Slide 30: 6. Appendix
6. Appendix Retail Lengerich
Slide 31: Portfolio Rotation
Portfolio Rotation Transactions since strategy update in July 2020(1) Implementation of adjusted strategy 23 disposals since strategy update in 2020 Portfolio as of 30 June 2020 Portfolio as of 31 March 2023 Total sales volume of €199.1 with 3.4% Assets 83 Assets 66 premium to latest fair values Por
Slide 32: Top-10 properties (1/2)
Top-10 properties (1/2) Munich Mannheim Berlin Cologne Karlsruhe Asset type Office Retail Office Office Retail Year of acquisition 2013 2016 2013 2017 2012 Purchase price €40.2m €80.0m €33.0m €49.0m €37.0m Fair value(1) €76.4m €79.6m €73.4m €73.1m €55.6m Annual rents €2.8m €4.2m €2.8m €3.1m €2.8m WA
Slide 33: Top-10 properties (2/2)
Top-10 properties (2/2) Hanau Hallstadt Aachen Celle Erlangen Asset type Retail Retail Office Retail Office Year of acquisition 2017 2017 2020 2015 2011 Purchase price €37.5m €40.4m €37.4m €35.2m €27.9m Fair value(1) €46.3m €43.7m €41.8m €41.2m €36.3m Annual rents €2.1m €2.6m €2.1m €2.0m €2.3m WALT(
Slide 34: Financial Calendar
Financial Calendar Half-yearly financial report 2023 10 August 2023 Provisional figures for 2023 8 February 2024 Quarterly financial statement Q3 2023 9 November 2023 Annual Report 2023 14 March 2024 Appendix | 34
Slide 35: Contact
Contact Niclas Karoff Sarah Verheyen CEO/CFO COO/CIO E-Mail: n.karoff@hamborner.de E-Mail: s.verheyen@hamborner.de Christoph Heitmann HAMBORNER REIT AG Head of IR & PR www.hamborner.de info@ir.hamborner.de E-Mail: c.heitmann@hamborner.de +49 (0)203/54405-32 Appendix | 35
Slide 36: Disclaimer
This presentation has been prepared and/or issued by HAMBORNER REIT AG (hereinafter "HAMBORNER") solely for information purposes. This presentation may contain statements, assumptions, opinions and predictions about the anticipated future development of HAMBORNER ("forward-looking statements") that