Slide 1: Annual Results 2024
2024 ANNUAL RESULTS 2024 February 27, 2025 Strictly confidential & non-contractual document 1 The Medelan | Milan
Slide 2: Leadership
Leadership Antoine Castro Anne Schwartz J ia Wa ng Chairman & CEO PAREF Deputy CEO PAREF CFO PAREF antoine.castro@paref.com anne.schwartz@paref.com jia.wang@paref.com p.2 |
Slide 3: Highlights
2024 HIGHLIGHTS 3 The GO | Levallois
Slide 4: European expansion supported by track record over 30 years
2024 Highlights European expansion supported by track record over 30 years We are an integrated platform with a 360° vision. We serve our partners and investors needs across the whole investment spectrum. 2% Assets under Management Dec 31 Change vs 34% in €m 2024 2023 2% Owned Assets 173 +2% Third-p
Slide 5: Towards sustainable operational and financial performance
2024 Highlights Towards sustainable operational and financial performance Strategic growth with institutional mandate and strong capabilities in asset, property, project and fund management MANDATE WITH NEW FUND LAUNCH OF TEMPO RESTRUCTURING LEASE RENEWAL SOLID PERFORMANCE PARKWAY LIFE REIT MANAGEME
Slide 6: Retail Fund Management: new fund range with consolidated performance
2024 Highlights Retail Fund Management: new fund range with consolidated performance Repositioned traditional business as foundation for future revenue growth Distribution rate 2020 – 2024 6.00 CASH DISTRIBUTION INCREASE 5.80 5.60 5.40 5.51 5.37 5.20 5.10 5.00 4.84 4.80 4.80 4.80 PRICE PER SHARE STA
Slide 7: Third-party Mandate: strategic development
2024 Highlights Third-party Mandate: strategic development Milestone engagement with institutional investors based on our 360-degree service offering PAREF, key partner for Parkway Life REIT's European expansion: SOLIA Paref, excellence in property management: A strategic collaboration with one of A
Slide 8: Financial Results
2024 FINANCIAL RESULTS 8 TEMPO | Paris
Slide 9: KPIs in a nutshell
2024 Highlights KPIs in a nutshell REIT Operating Profile Operating Performance Financial Structure 5.5% €30m 31% Gross initial yield (-2pts vs. Dec 31, 2023) Gross revenue (-12% vs. FY23) LTV (vs. 28% in FY23) +4.85Years €4.4m 3.5Years Average firm lease term (+0.35yrs vs. FY23) Current operating r
Slide 10: Recurring revenue benefits from diversified activities
2024 Full-Year Results Recurring revenue benefits from diversified activities In €m 2023 2024 Change Net rental income: impacted by temporary vacancies in the % portfolio Net rental income 8.8 7.8 -11% Management commissions: Management commissions 15.5 18.1 +17% • Fund related: driven by new fund m
Slide 11: Net asset value remains impacted by value depreciation
2024 Full-Year Results Net asset value remains impacted by value depreciation PAREF Portfolio Evolution Valuation: yield rate trends over 12 months 9 960 172 710 168 870 -5 380 - 740 • Office: +25 – 50 bps • Logistics: +5 bps • Hotel: stable Dec 31, 2023 Disposal CAPEX Change in Fair Value Dec 31, 2
Slide 12: REIT Financial Structure
2024 Full-Year Results REIT Financial Structure 3.5-year 31% 1.87x 4.32% Average maturity LTV(1) ICR(2) Cost of debt of debt Rigorous management on financial resources: • Gross debt: €77m as of December 31st 2024, of which €50m mortgaged • Average cost of debt in 2024: 4.32% • Average debt maturity:
Slide 13: Dividend
2024 Full-Year Results Dividend Proposed distribution of €1.5 per share for 2024 financial year • Payable in cash (total amount: €2.0m), to be approved by Annual Shareholders’ meeting in May 2025 • Stable vs. dividend distribution for 2023 exercise • Obligation of distribution for 2024 exercise of €
Slide 14: 2025 Outlook
2025 OUTLOOK 14 NAU! | Frankfurt
Slide 15: Progressive diversification of revenue sources
PAREF Strategy Outlook Progressive diversification of revenue sources Moving towards a balanced revenue mix with increasing share of resilient asset management fees Group Gross Revenue Evolution Group Gross Revenue Evolution 2018 2024 €k +18% -26% 21% Gross Rental Income 18% 25,000 28% Management Fe
Slide 16: Positioning as local operating partner for investors
PAREF Strategy Outlook Positioning as local operating partner for investors Navigating challenges of high interest rates and low liquidity, PAREF emerges with a strategic vision for long-term value creation Living Assets Healthcare Sustainable Real Estate 01 Expanding senior living, hospitals, and c
Slide 17: Solid foundations for sustainable growth and shareholders' value
PAREF Strategy Outlook Solid foundations for sustainable growth and shareholders’ value PAREF refining itself as the preferred choice for value-creating real asset solutions, focused on five key growth areas: Vision AuM Growth ESG Integration • Expand AUM, drive recurring management fees • Brown-to-
Slide 18: BP..REF
BP..REF
Slide 19: Disclaimer
Disclaimer This document is solely for the use of the recipient who has received it directly from PAREF for information and discussion purposes only. It is to be treated strictly confidential. Furthermore, this document and any information contained herein should not be copied and circulated in whol
Slide 20: More than real estate
MORE THAN REAL ESTATE | BPAREF