Sirius Real Estate Limited · LSE:SRE
Sirius Real Estate — Presentation at JSE, 23 January 2025
13 slides from Sirius Real Estate's conference presentation, Jan 23, 2025
Slide 1: Presentation at JSE, 23rd January 2025
PRESENTATION AT JSE 23RD JANUARY 2025
Slide 2: The first fast-track listing of a London-listed company onto the JSE
THE FIRST FAST-TRACK 5th December 2014 PSG Capital LISTING OF A LONDON-LISTED Sirius Real Estate listed on AltX of Johannesburg The company’s sponsor in COMPANY ONTO THE JSE Stock Exchange at R6 South Africa £32m raised at 30p Acquisitions in Jan'15 €70m of value placing over 100 million Funded by £
Slide 3: Purchase of Mahlsdorf & Potsdam 2014: +€70m value creation
PURCHASE OF MAHLSDORF & POTSDAM 2014: +€70M VALUE CREATION Berlin Mahlsdorf Potsdam Acquisition Sep 24 Achievement Acquisition Sep 24 Achievement Total Cost / Valuation €25.9 m* €67.2 m €41.3 m Total Cost / Valuation €30.3 m €59 m €28.7 m Rent Roll €1.8 m €4.3 m €2.5 m Rent Roll €2.3m €3.8 m €1.5 m
Slide 4: Since listing on the JSE: total annual return of 17.8% in ZAR
SINCE LISTING ON THE JSE: TOTAL ANNUAL RETURN OF 17.8% in ZAR 4
Slide 5: Today we pay our 22nd consecutive dividend of 58.85 ZARc
TODAY WE PAY OUR 22 CONSEQUENTLY DIVIDEND OF 58.85 (ZARc) 5
Slide 6: Despite the global pandemic the business continued to deliver rent roll and FFO growth
DESPITE THE GLOBAL PANDEMIC THE BUSINESS CONTINUED TO DELIVER RENT ROLL AND FFO GROWTH DURING THE COVID YEARS SRE Share Price Jan 2020 – Dec 21 Covid Years 1,625 144p 2019* 2020 2021 1,5 18 Nov 2021 1,375 Rent Roll €77 m €90 m €97 m 1,25 FFO €38 m €56 m €61 m 1,125 93.4p 1, 31 Dec 2020 0,875 Locked
Slide 7: SA investors contributed 56% of the capital raised in the 5 years prior to Covid
SA INVESTORS CONTRIBUTED 56% OF THE CAPITAL RAISED DURING THE 5 YEARS PRIOR TO COVID £38m (68% SA) £24m (80% SA) £22m (51% SA) £35m (32% SA) June 2015 June 2016 July 2017 March 2018 Invested into Acquisition Sep 24 Achievement % Total Cost / Valuation €492 m €806 m €314 m 64% 38 Assets Rent Roll €41
Slide 8: Acquisition of BizSpace in Nov 2021
ACQUISTION FUNDED VIA £137M CAPITAL OF BIZSPACE RAISE (15% SA INVESTORS) +64% IN NOV 2021 AND CORPORATE BOND Rent Roll increase to Dec 2024 4 reasons why BizSpace was attractive 01 Introduction of a secondary market 14% 15% 12% 02 Added scale to the business +90% Midlands North North East 03 Underde
Slide 9: Acquisitive growth re-ignited from H2 2023
ACQUISITIVE GROWTH RE-IGNITED FROM H2 2023 After a pause, by September 2023 our €165m equity raise in November 2023 gave acquisition pipeline had grown to include us the firepower to execute on that pipeline: multiple compelling opportunities in the UK and Germany. 3x oversubscribed 30% of the raise
Slide 10: €185m invested into acquisitions in 2024
€185M INVESTED INTO ACQUISITIONS IN 2024 November 2023 May 2024 July 2024 Capital raise proceeds fully invested €60m bond ‘tap’ to Shareholder support for a €180m second equity raise, driven by a positive by April 2024, achieving 7 acquisitions support continued UK election backdrop. Strong support
Slide 11: €350m+ firepower to drive growth in 2025 and beyond
€350M+ FIREPOWER TO DRIVE GROWTH IN 2025 AND BEYOND 2025 IS ALREADY BUSY! 30.5% LTV WHAT’S NEXT? €350m €150m+ Organic and Corporate bond issued Balance sheet acquisitive growth with €1.8bn demand headroom will drive double digit 4% coupon €350m revenue growth in 7-year financing term Total firepower
Slide 12: Catalysts for growth. Clear direction
CATALYSTS FOR GROWTH. CLEAR DIRECTION German election UK economic €100m of acquisitions likely by the end of Q1 Business friendly Backdrop challenging, Area Purchase Price Occupancy Income Gross yield backdrop to come but structural shortage of UK 16,500 6,840,000 92% 1,140,000 16.7% industrial spac
Slide 13: Disclaimer
DISCLAIMER This presentation may contain forward-looking statements with respect to the financial condition, This presentation does not purport to be comprehensive. The recipient of this presentation must make its performance and position, strategy, results of operations and businesses of Sirius Rea
Sirius Real Estate — Presentation at JSE, 23 January 2025 on 6ix