Slide 1: Nextensa Annual Results 2022
NEXTENSA ANNUAL RESULTS 2022 Presented by Michel Van Geyte, CEO & Tim Rens, CFO 16 February 2023
Slide 2: Table of Contents
TABLE OF CONTENTS CHAPTER 01 Highlights 2022 CHAPTER 02 Activity Report CHAPTER 03 Key financials & Funding CHAPTER 04 Conclusions
Slide 3: Chapter 01: Highlights 2022
CHAPTER O1 HIGHLIGHTS 2022 BY heals b=
Slide 4: Highlights: What Nextensa has achieved in 2022
CHA. 01 – HIGHLIGHTS 2022 HIGHLIGHTS : What Nextensa has achieved in 2022 1. Result: - Net income of €71.3M or €7.18 per share entitled to dividends - Result excl revaluation effects and deferred taxes : € 76.896 K 2. Solid investment portfolio: -Rental income increased by €2.2 M compared to last ye
Slide 5: Nextensa Stands For
N E X TE N SA STA N DS FO R • BUILDING THE FUTURE AND RESHAPING CITIES • UNLOCKING THE HIDDEN VALUES • LUXEMBOURG IS KEY • TOWARD A MORE SUSTAINABLE FUTURE • AUSTRIA RETAIL
Slide 6: Chapter 02: Activity Report
CHAPTER 02 ACTIVITY REPORT
Slide 7: I. Building the Future and Reshaping Cities
I. BUILDING THE FUTURE AND RESHAPING CITIES A ct i vi t y Repo rt
Slide 8: Tour & Taxis: The perfect example of a 5-minutes neighbourhood
TO U R & TA X I S The perfect example of a 5-minutes neighbourhood
Slide 9: T&T: The Living Neighbourhood
CHA. 02 – A C T I V I T Y R E P O R T T&T: THE LIVING NEIGHBOURHOOD • One of the most important event venues in Brussels in 2022 • A large number of visitors to temporary events such as the Realty real estate fair and the World Padel Tour, to long-term exhibitions at the Sheds or to conferences at M
Slide 10: T&T: The Living Neighbourhood
CHA. 02 – A C T I V I T Y R E P O R T T&T: THE LIVING NEIGHBOURHOOD 10
Slide 11: T&T: A place where we like working hard
CHA. 02 – A C T I V I T Y R E P O R T T&T: A place where we like working hard • The occupancy rate of offices on the Tour & Taxis site (Gare Maritime and Royal Depot) is now 90%. • In 2022, Unicef (900 sqm) and Polestar (610 sqm) established their offices in the Gare Maritime and CD&V signed a lease
Slide 12: T&T: A place for qualitative shopping
CHA. 02 – A C T I V I T Y R E P O R T T&T: A place for qualitative shopping • Retail occupancy rate on the Tour & Taxis site (Gare Maritime and Royal Depot) is moving forward to 56%. For the GM, the strategy is to achieve a qualitative interpretation, with a good balance between retail and events
Slide 13: T&T: A place for qualitative shopping
CHA. 02 – A C T I V I T Y R E P O R T T&T: A place for qualitative shopping
Slide 14: Gare Maritime: A shopping experience in progress
CHA. 02 – A C T I V I T Y R E P O R T Gare Maritime: A shopping experience in progress rest o Temporary events rest o
Slide 15: T&T: Jump into the office generation 2.0
CHA. 02 – A C T I V I T Y R E P O R T T&T: Jump into the office generation 2.0 • Hôtel des Douanes is being prepared for lease. • This multi-or single-tenant building will soon accommodate 6,500 sqm of offices and meeting rooms and will once again become a paragon of sustainability. • The individual
Slide 16: T&T: New residential neighbourhood Park Lane in full development
CHA. 02 – A C T I V I T Y R E P O R T T&T: New residential neighbourhood “Park Lane” in full development • PARKLANE I : - All 319 apartments in the 4 buildings were completed in 2022 - The Anima residential care center opened its doors - Only 5 apartments and 4 ground-level retail spaces are still a
Slide 17: Cloche d'Or: A new urban district in Luxembourg City
C L O C H E D ’O R A new urban district in Luxembourg City
Slide 18: The office world at Cloche d'Or in full transition
CHA. 02 – A C T I V I T Y R E P O R T The office world at Cloche d’Or in full transition • During January 2022, the • The Darwin II office building • In September 2022, the Darwin office Kockelscheuer office building, (approx. 4,700 sqm) was delivered. building - “Bronze Gate” - was provisionally de
Slide 19: The world of the Cloche d'Or office in full transition
CHA. 02 – A C T I V I T Y R E P O R T The world of the Cloche d'Or office in full transition • The Emerald (7,000 sqm) is already 43% • For the White House (7,000 sqm) office pre-let to a law firm. A binding LOI to building, a binding LOI to lease was also lease has been signed with a potential sign
Slide 20: Cloche d'Or: Spend a day and sleep there
CHA. 02 – A C T I V I T Y R E P O R T Cloche d’Or : Spend a day and sleep there • In mid-September, a 20-year fixed-term lease agreement was also signed with B&B HOTELS for the development of a 150-room hotel. • The permit process is currently ongoing, and works are expected to start in the first ha
Slide 21: Cloche d'Or: The residential developments
CHA. 02 – A C T I V I T Y R E P O R T Cloche d’Or : The residential developments • During 2022, all the apartments of the Ilôt D-Sud subproject (155 apartments) were delivered. This subproject has been completely sold except for 11 retail units on the ground floor. • The Ilôt D-Nord subproject is on
Slide 22: II. Unlocking the Hidden Values and Strengthening the Balance
II. UNLOCKING THE HIDDEN VALUES AND STRENGTHENING THE BALANCE A ct i vi t y Repo rt
Slide 23: Bringing forward latent capital gains and strengthening the balance sheet
CHA. 02 – A C T I V I T Y R E P O R T Bringing forward some of the latent capital gains within its portfolio and strengthening its balance sheet. • Titanium : Sold to Codic - Rental • Monnet : Sold to Edmond de • The Crescent :Sold to private income from the Titanium building Rothschild in early 202
Slide 24: III. Luxembourg is Key
III. LUXEMBOURG IS KEY A ct i vi t y Repo rt
Slide 25: Moonar: Work & Fly
CHA. 02 – A C T I V I T Y R E P O R T MOONAR : WORK & FLY • The Moonar site (LUX) is another example of how Nextensa aims to crystallize capital gains within its portfolio. • This site, which has been in the portfolio for many years, is currently being thoroughly redeveloped in order to create highe
Slide 26: Moonar: Work & Fly
CHA. 02 – A C T I V I T Y R E P O R T MOONAR : WORK & FLY • Moonar is a campus close to the airport with a full range of services for tenants and attention to landscaping that makes it possible to hold outdoor meetings. • The office park consists of 5 buildings, the first of which - “Building D” - w
Slide 27: Knauf: a non-stop shopping experience
CHA. 02 – A C T I V I T Y R E P O R T KNAUF: a non-stop shopping experience • The Knauf Pommerloch shopping center has • The expansion of the shopping center in welcomed a number of new retailers over Schmiede (approx. 8,500 sqm) was the past year, including Esprit, Arkades, completed. Rituals and T
Slide 28: Rentals in places you prefer
CHA. 02 – A C T I V I T Y R E P O R T Rentals in places you prefer • The lease with Hornbach for the retail • In October, a Colruyt store of 1,200 sqm site located in Bertrange was also has been opened in the Boomerang extended for 15 years (until Strassen shopping center. 30/06/2038).
Slide 29: IV. Toward a More Sustainable Future
IV. TOWARD A MORE SUSTAINABLE FUTURE A ct i vi t y Repo rt
Slide 30: Our Actions in 2022
OUR ACTIONS IN 2022
Slide 31: Nextensa's sustainability mission: places you prefer
CHA. 02 – A C T I V I T Y R E P O R T Nextensa’s sustainability mission is to create “places you prefer” by (re)developing climate-adaptive buildings, creating sustainable communities and investing in human capital. • EU-Taxonomy: In 2022, Nextensa launched a first ‘alignment assessment’ of six pilo
Slide 32: Renovations and Energy Community
CHA. 02 – A C T I V I T Y R E P O R T • Renovations: Nextensa is committed to minimizing energy use, using only renewable and green energy, and discontinuing the use of fossil fuels. During the renovation of the Hôtel des Douanes, special attention is being paid to the use of valuable materials and
Slide 33: V. Austria Retail
V. AUSTRIA RETAIL A ct i vi t y Repo rt
Slide 34: Austrian retail parks at 100% occupancy
CHA. 02 – A C T I V I T Y R E P O R T The Austrian investment portfolio includes 5 retail parks, whose occupancy rate remains consistently at 100%. • In the course of 2022, a major • At Vösendorf Nordring 2-10 : Lease in renovation of Vösendorf Nordring 16-18 the course of 2023. Far-reaching took pl
Slide 35: Chapter 03: Key Financials
CHAPTER 03 KEY FINANCIALS
Slide 36: Key Performance Indicators
CHA. 03 – K E Y F I N A N C I A L S KEY PERFORMANCE INDICATORS
Slide 37: Key Performance Indicators: NAV and share price
CHA. 03 – K E Y F I N A N C I A L S KEY PERFORMANCE INDICATORS The NAV per 31 December 2022 amounts to 83,86 EUR/share while the closing rate per 31 December 2022 amounts to 51,90 EUR/share. This means a discount of 38,11% compared to the NAV.
Slide 38: KPIs of our investment portfolio
CHA. 03 – KPI’s of our investment portfolio Fair value of portfolio decreased from € 1,41 billion to € 1,28 billion due to sale of the Crescent, Monnet and CFM. Rental income up by € 2,2 M: - + € 4,6 M added by business combination with Extensa - + € 1,2 M like for like rental growth - - € 4,4 M due
Slide 39: Other KPIs
CHA. 03 – Other KPI’s Result of development activities (+ € 11,9 M) • Tour & Taxis (€ 2,4 M): profit recognized on Parklane Phase I. Although the commercialization of Parklane Phase II started in April 2022 no margin was recognized yet on this sub project. • Cloche d'Or (€ 19,8 M) main sub projects
Slide 40: Funding
CHA. 03 – K E Y F I N A N C I A L S FUNDING Net financial position of € 721,5 M at the end of 2022 compared to € 874,0 M at the end of 2021. Financial debt ratio is 42,56% (48,56% per 31/12/2021) The hedge ratio amounts to 74%
Slide 41: Consolidated Income Statement
CHA. 03 – K E Y F I N A N C I A L S CONSOLIDATED INCOME STATEMENT
Slide 42: Consolidated Balance Sheet
CHA. 03 – K E Y F I N A N C I A L S CONSOLIDATED BALANCE SHEET
Slide 43: Dividend
DIVIDEND Press Release Selling Titanium Covid 1st wave Covid 2nd wave Announcement of Extensa merger Russian invasion of Ukraine ECB announces interest rate increases Volatile interest but also VFB meeting? 43
Slide 44: Where we are: the translation of our futuristic vision
CHA. 01 – HIGHLIGHTS 2022 Where we are : the translation of our futuristic vision INVESTMENTS PROJECT DEVELOPMENT PARTICIPATION Number of IN CONSTRUCTION PERMITS ACQUIRED IN STUDY Retail Estates 31 buildings 1 351 320 Residential m2 shares 455 824 Value 36 520 29 287 N/A 32 401 93 000 12 000 €83,8 m
Slide 45: Chapter 04: Conclusions
CHAPTER O04 Conclusions
Slide 46: To Summarize
TO SUMMARIZE Nextensa had been fully integrated over the last year. A year of big changes in the (real estate) world where interest rates starts to raise and sustainability takes the lead. Nextensa made the right decision to unleash its REIT status as flexibility is now the most valuable asset. This
Slide 47: Nextensa: Places You Prefer
nextensa: PLACES YOU PREFER