Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España — Investor Presentation (April 2021)
31 slides from Helios Re Socimi's investor presentation, April 2021
Slide 1: Corporate Presentation Lar España April 2021
Corporate Presentation Lar España APRIL 20 21 www.larespana.com
Slide 2: Index
Lar España > Index Index 01. 02. 03. 04. 05. Company Overview Equity Story FY 2020 Results Covid-19 Update Reasons to invest 2
Slide 3: Company Overview
Lar España > Company Overview 01. Company Overview 3
Slide 4: Lar España at a Glance
Lar España > Company Overview LAR ESPAÑA AT A GLANCE Our mission: Optimize the profitability of our shareholders through responsible and efficient management of our retail assets, which incorporates technology as a key element in a relationship that generates 14 100% value for our retailers and cust
Slide 5: Company Overview: Shareholders, Board and Management
Lar España > Company Overview COMPANY OVERVIEW Shareholder Overview Board of Directors Management Jose Luis del Valle, Chairman of Lar España Board of Directors Other investors PIMCO 52.0% 20.0% Jose Luis del Valle Chairman Miguel Pereda, Lar España Board Director & Chairman of Grupo Lar Manager Ale
Slide 6: Company Overview. A Resilient Portfolio.
Lar España > Company Overview COMPANY OVERVIEW. A RESILIENT PORTFOLIO. Lagoh Gran Vía de Vigo Megapark 69,734 sqm 41,447 sqm 81,577 sqm Visits: 5.4 Mn Visits: 4.8 Mn Visits: 9.5 Mn Sales: €94.7 Mn Sales: €81.3 Mn Sales: €92.7 Mn Dominant SC Dominant SC Dominant SC RP Ànec Blau P. Marina CC: El Rosal
Slide 7: Financials Overview
Lar España > Company Overview FINANCIALS OVERVIEW €93.3 Mn GRI Outperforming the European market +14.8% vs FY 2019 €69.7 Mn EBITDA €10.42 EPRA NTA ps +18% vs FY 2019 €49.9 Mn €27.5 Mn EPRA Earnings 2020 Proposed Dividend +29% 6.7% vs FY 2019 Over Market Cap +12.4% 39.4% NOI Net vs FY 2019 LTV 7 7
Slide 8: The Retail Leader in Spain
Lar España > Company Overview THE RETAIL LEADER IN SPAIN. Main shopping centres and retail parks market players RETAIL LEADERS IN SPAIN Avg. GLA #1 IN SPAIN #1 IN SPAIN #1 IN SPAIN Owned GLA (est.) # Assets ownership per asset sqm GLA1 Asset stake owned retail parks owned Lar España 579,286 14 41,37
Slide 9: Equity Story
02. Equity Story 9
Slide 10: Our Business Model
Lar España > Equity Story OUR BUSINESS MODEL Our business model is based on six pillars: DOMINANT SHOPPING CENTRES IN CATCHMENT COMBINATION OF ASSETS MIX OF TENANTS AREAS Differentiated asset typology that combines Commercialization based in a solvent and Our assets are located in relevant but low t
Slide 11: The Results of Our Strategy: A Different Company for a Changing Market
Lar España > Equity Story THE RESULTS OF OUR STRATEGY: A DIFFERENT COMPANY FOR A CHANGING MARKET ASSETS & MANAGEMENT CLIENTS & INNOVATION High exposure Highly protected Multiproduct retail offer Optimal and comfortable to resilient activities with and resilient portfolio SSCC (65%), RRPP (35%) activ
Slide 12: Grupo Lar: Strong Management Capacity
Lar España > Equity Story GRUPO LAR: STRONG MANAGEMENT CAPACITY Family-owned Company 1 +50Y of experience 2 Strong Management Team Investment Management Agreement International Experience with Tier 1 3 investors 4 Geographical Diversification Grupo Lar now owns a 11.5% stake 5 Product Diversificatio
Slide 13: ESG Integrated Throughout the Company
Lar España > Equity Story ESG INTEGRATED THROUGHOUT THE COMPANY What does ESG mean at Lar España? The company ensures it actively listens to its stakeholders, responsibly manages its assets and creates wealth in the communities that it operates in. In parallel, the Company safeguards the economic vi
Slide 14: Environmental Milestones in 2020
Lar España > Equity Story ENVIRONMENTAL MILESTONES IN 2020 Lar España has completed the development of its automated platform for the analysis and dynamic visualization of data related to the use of all resources in its assets and the mitigation of its environmental impact. Lar España has registered
Slide 15: Social Milestones in 2020
Lar España > Equity Story SOCIAL MILESTONES IN 2020 Lagoh, As Termas and El Rosal shopping centres have obtained AENOR’s universal accessibility seal according to UNE 170001 standards, adding to those previously obtained in Vistahermosa and Vidanova Parc. In response to the COVID-19 health crisis an
Slide 16: Governance Milestones in 2020
Lar España > Equity Story GOVERNANCE MILESTONES IN 2020 E The creation of the ESG committee, a cross-functional senior management team responsible for supporting S Lar España commitment to matters related to; environmental initiatives, health and safety in all assets, ESG G actions, sustainability m
Slide 17: FY 2020 Results
03. FY 2020 Results 17
Slide 18: Operational Results in FY 2020
Lar España > Financial Results FY 2020 OPERATIONAL RESULTS IN FY 2020 +29% +14.8% +12.4% € 1,475 Mn EPRA Earnings GRI NOI vs FY 2019 +18% GAV p.s. vs FY 2019 +0.8% EBITDA RESULTS +2% vs FY 2019 (4.9%) €10.42 LfL GRI LfL1 NOI vs FY 2019 vs Dec 2019 EPRA NTA p.s.2 Outperforming the 5.9% 95.5% 3.2 year
Slide 19: Corporate Results in FY 2020
Lar España > Financial Results FY 2020 CORPORATE RESULTS IN FY 2020 €27.5 Mn dividend1 c.€140 Mn liquidity Net LTV €0.31 p.s. 3rd SBB Expenses covered 41.9% closing 2020 Proposed dividend Programme over the next 4 years CORPORATE extended Net LTV 6.7% Dividend Yield 5% share capital €59 Mn extra liq
Slide 20: Financial Key Figures FY 2020
Lar España > Financial Results FY 2020 FINANCIAL KEY FIGURES FY 2020 15 €93.3 Mn +14.8% Assets GRI vs FY 2019 €1,475 Mn €69.7 Mn +18% €881.4 Mn €49.9 Mn GAV1 EBITDA vs FY 2019 EPRA NTA EPRA Earnings 578,370 €757.1 Mn 2.2% €10.42 €0.58 GLA sqm Financial debt Cost of Debt EPRA NTA per share2 EPRA Earn
Slide 21: Financial Key Figures FY 2020
Lar España > Financial Results FY 2020 FINANCIAL KEY FIGURES FY 2020 Expenses covered over the next 4 years Gross Net financial debt financial debt €757.1Mn €617.8 Mn Fixed rate Avg. debt maturity 96% 3y Avg. cost of debt 2.2% Net LTV Covenants 100% 39.4% complied Cash position c.€200 Mn 21
Slide 22: Asset Appraisal December 2020
Lar España > Financial Results FY 2020 ASSET APPRAISAL DECEMBER 2020 31st December 2020 Valuation > A resilient portfolio of dominant shopping centres in €1,475.5 Mn attractive catchment areas. 46.9% Including Capex Invested > Cherry-picked portfolio, assets carefully analysed and selected without b
Slide 23: Attractive Dividend Maintained
Lar España > Financial Results FY 2020 ATTRACTIVE DIVIDEND MAINTAINED Committed to profitability: € 0.63 ps > Prudent cash position control with a € 0.54 ps detailed liquidity analysis. €55.0 Mn € 0.49 ps > >90% cashflow generated in 2020 . €50.0 Mn € 0.33 ps €45.0 Mn > 3.1% dividend yield on NAV. €
Slide 24: Covid-19 Update
Lar España > Covid-19 Update 04. Covid-19 Update 24
Slide 25: Footfall and Sales Numbers Recovery
Lar España > Covid-19 Update FOOTFALL AND SALES NUMBERS RECOVERY GLA opened Footfall recovery Sales recovery 136% 105% 95% 86% 109% 99% 104% 92% 94% 96% 93% 91% 84% 100% 74% 68% 64% 49% 33% 11% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar 14 21 25 6 Mar Jun Oct May 1st state of alarm
Slide 26: Capacity to Assume This Scenario
Lar España > Covid-19 Update CAPACITY TO ASSUME THIS SCENARIO RESILIENT PORTFOLIO FINANCIAL STRENTGH MULTIPRODUCT OFFER Net LTV >20% Food & Health Balanced portfolio that has been key to High percentage 41.9% react better and sooner than others of food & health tenants closing 2020 2.2% 96% Net LTV
Slide 27: Pandemic Evolution and Vaccine Programme: Will Improve the Situation
Lar España > Covid-19 Update PANDEMY EVOLUTION AND VACCINE PROGRAMME: WILL IMPROVE THE SITUATION In process In process Dec. 2020 Feb. 2021 June 2021 Although it is still progressing very slowly, the Stage 0 Stage 1 Stage 2 Stage 3 vaccination process in Spain is moving forward and its penetration am
Slide 28: Reasons to Invest in Lar España
Lar España > Reasons to invest 05. Reasons to invest in Lar España 28
Slide 29: 10 Reasons to Invest in Lar España
Lar España > Reasons to invest 10 REASONS TO INVEST IN LAR ESPAÑA 1 Retail sector, an opportunity to enter at 2 Strong value creation over the years not 3 Lar España owns assets in dominant areas with right mix of 4 The company has a high exposure to resilient activities with attractive yields. refl
Slide 30: Disclaimer
Lar España > Disclaimer DISCLAIMER This document has been prepared by Lar España Real Estate SOCIMI, S.A. (the “Company”) for information purposes only and the information included in this document is not regulated information or information which has been subject to prior registration with, or cont
Slide 31: www.larespana.com
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