Premia Real Estate Investment Company Societe Anomyme · ATHEX:PREMIA
Premia Real Estate Investment Company Societe Anomyme — Premia Properties — Investor Presentation (April 2024)
23 slides from Premia Real Estate Investment Company Societe Anomyme's investor presentation, Apr 15, 2024
Slide 1: Presentation to the Hellenic Fund & Asset Management Association | April 2024
Presentation to the Hellenic Fund & Asset Management Association | April 2024
Slide 2: Presentation team
Presentation team Kostas Markazos Nikolaos Baziotis Constantin Pechlivanidis Pantelis Voutirakis CEO CFO/CIO Chief Property Investment FP&A Manager Officer 2
Slide 3: Agenda
AGENDA 1 2023 review 2 Portfolio & projects 3 Prospects for 2024
Slide 4: Agenda: 2023 review
AGENDA 1 2023 review 2 Portfolio & projects 3 Prospects for 2024
Slide 5: At-a-glance
At-a-glance Properties under Gross buildable area Total Total management (GBA) Investments Assets 51 384K sqm €307 m €356 m (as of 31.12.2023) (as of 31.12.2023) (as of 31.12.2023) * (as of 31.12.2023) Net Asset Value Market Net Loan-to-Value Credit (NAV) Capitalization (Net LTV) Rating €147m €100 m
Slide 6: 2023: Key highlights
2023: Key highlights • 7 transactions/projects of which 6 in progress Investments • Focus on green office space, serviced apartments, logistics, industrial • Investments in 3 existing properties increasing value and revenues • Disposal of Votanikos property with significant profit Asset • 7.0 years
Slide 7: Robust financials (FY2023 snapshot)
Robust financials (FY2023 snapshot) Top-line growth & increased operating profitability Strong asset base & healthy capital structure Capital discipline & conservative debt profile Total revenue Total investments (investments + cash) Gross debt* / Net debt* €19.0 m € 352.2m € 199.6 m / € 154.6 m +26
Slide 8: Active management of the capital structure maintaining a conservative debt profile
Active management of the capital structure maintaining a conservative debt profile Balance sheet management Leverage (as of 31.12.2023) Debt profile (as of 31.12.2023) Lease obligations 2% RRF ▪ € 26.1m new loans issued of which € 9.1m fixed 50% 4% 47% cost RRF loans Bank debt 44% Public bond 37% 49
Slide 9: Strong & consistently improving financial performance
Strong & consistently improving financial performance Revenue Adjusted EBITDA* € mn € mn +61% 25.3 yoy 12.0 +26% yoy 19.0 +58% +100% yoy 15.1 7.5 yoy +459% yoy 9.5 +697% yoy 3.7 0.5 1.7 FY 2020 FY 2021 FY 2022 FY 2023 Revenue capacity ** FY 2020 FY 2021 FY 2022 FY 2023 FFO* NAV € mn € mn € 1.64 / sh
Slide 10: Agenda: Portfolio & Projects
AGENDA 1 2023 review 2 Portfolio & Projects 3 Prospects for 2024
Slide 11: High-quality asset portfolio with strong KPIs
High-quality asset portfolio with strong KPIs #9 Logistics & Warehouse 1 2 Xanthi Kilkis #3 4 2 1 Commercial Big-Boxes Thessaloniki Naousa Katerini 7.6% #5 Gross rental yield* Serviced apartments & Student Housing 1 Lamia #11 1 7.0 years 1 Chalkida Schools 1 Patra WALT* (10 under PPP agreement) 2 26
Slide 12: Yielding properties with 98.7% occupancy, long term contracts & diversified tenant mix
Yielding properties with 98.7% occupancy, long term contracts & diversified tenant mix Income producing properties by sector GAV Revenue GBA Logistics & Warehouses 12% 10% 22% 8% Commercial big-boxes 10% 11% Serviced apartments & 11% 8% Student housing 62% 6% 65% 4% 63% Schools 6% 3% Industrial & Wi
Slide 13: Significant transactions completed in 2023
Significant transactions completed in 2023 Oraiokastro Paiania (Attica) Dyo Pefka (Aspropyrgos) Ioli (Lamia) Elaionas (Votanikos) (Thessaloniki) Partial development the property and Construction and development of a Logistics property expansion Industrial property acquisition Industrial property sal
Slide 14: Piraeus 180 project to be delivered on time (June 2024)
Piraeus 180 project to be delivered on time (June 2024) Former shopping mall The existing building, Existing re-purposed along with a new building building (left) and new developed in an adjacent building connected by plot, is converted into a pedestrian bridge (right). 26,500 sqm, ground- breaking,
Slide 15: Development of student residencies in Xanthi reaching completion
Development of student residencies in Xanthi reaching completion The converted building consists of 102 furnished student apartments leased to Hamlet with a 20-year lease plus ground Former Building floor retail space lease. Strategically located in Xanthi’s town center with total area of 5,250 sqm,
Slide 16: Completion of key transactions expected in 2024
Completion of key transactions expected in 2024 Skyline Logistics (Aspropyrgos, Attica) One of the largest real estate portfolio transactions in Greece High quality warehouse facility P&E Investments (PREMIA 25% / Dimand 75%) will acquire 65%* of Premia has contracted to acquire a state-of-the-art,
Slide 17: Wineries: A niche market with significant synergies potential
Wineries: A niche market with significant synergies potential BOUTARIS NAVARINO VINEYARDS Scalarea estate is situated in the JV with TEMES for the construction prime winemaking region of Crete, of a modern winery, with respect for close to Heraklion and 4km from the wine tradition of the region and
Slide 18: Agenda: Prospects for 2024
AGENDA 1 2023 review 2 Portfolio & projects 3 Prospects for 2024
Slide 19: Greek economy on the recovery path despite challenges
Greek economy on the recovery path despite challenges Real GDP growth (%) Unemployment rate 8.4% Greece EU average 5.7% 5.7% 19.6% 17.6% 17.0% 3.6% 2.3% 2.4% 1.7% 1.9% 2.0% 2.2% 1.9% 1.9% 1.4% 2.0% 14.8% 0.6% 1.2% 12.3% 10.5% 10.4% 8.0% 7.2% -5.8% -9.0% 2018 2019 2020 2021 2022 2023 2024 2025 2026 2
Slide 20: Favorable Greek real estate market fundamentals
Favorable Greek real estate market fundamentals Despite the apparent yield compression in the past 10 years, the spread vs European prime yields, both in logistics and office markets, remains attractive. Transaction volumes continue a recovery trend in 2023, following the pandemic disruption of 2020
Slide 21: 2024: Priorities
2024: Priorities Focus on the timely execution of our investment plan (c. € 100m) & the identification of suitable investment opportunities • Completion of key investments in 2024 (Green office building for ΑΑΔΕ, Xanthi student residencies, new logistics in Aspropyrgos, Skyline) • Pipeline in variou
Slide 22: Important Notice and Disclaimer of Liability
Important Notice and Disclaimer of Liability THIS DOCUMENT MAY ONLY BE USED IN CONJUNCTION WITH AND SUBJECT TO THE TERMS OF THIS NOTICE & DISCLAIMER OF LIABILITY THIS PRESENTATION DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER FOR SALE OR SOLICITATION OF ANY OFFER TO BUY OR SUBSCRIBE FOR ANY SECURITI
Slide 23: PREMIA Properties
PREMIA Properties
Premia Properties — Investor Presentation (April 2024) on 6ix