Fairvest Limited Class A · JSE:FTA
Fairvest Limited Class A — H1 2025 Earnings Presentation
21 slides from Fairvest Limited Class A's earnings presentation, March 2025
Slide 1: Pre-Close Presentation for the six months ending 31 March 2025
2025 PRE-CLOSE PRESENTATION for the six months ending 31 March 2025
Slide 2: Agenda
Agenda Westgate Mall Operational update Fairvest portfolio Retail portfolio Office portfolio Industrial portfolio Financial update Q&A 1 Fairvest Limited Pre-Close Presentation for the six months ending 31 March 2025
Slide 3: Operational update to February 2025
Clubview Corner Operational update to February 2025 DARREN WILDER CEO
Slide 4: Fairvest at a glance
Fairvest at a glance at 28 February 2025 Diverse portfolio of R12.3 billion Market cap R9.2 billion (Sept ’24: R12.3 billion) (Sept ’24: R7.8 billion) Sectoral split Revenue Value GLA 69.8% 70.7% 52.9% Retail Sept ‘24: 69.0% Sept ‘24: 70.6% Sept ‘24: 52.9% Bara Precinct 18.4% 17.8% 20.8% Office Sept
Slide 5: Highlights to February 2025
Highlights to February 2025 Positive rental reversion of 4.2% (Sept ‘24: 3.6%) WALE 30.7 months (Sept ‘24: 28.6 months) New deal WALE 49.9 months (Sept ‘24: 36.7 months) Average gross rental per m2 R129.65 (Sept ‘24: R127.52) Upper end of guided distribution per B shares of between 45.00 and 46.00 c
Slide 6: Fairvest portfolio
The Ridge Fairvest portfolio DARREN WILDER CEO
Slide 7: Group portfolio highlights
Group portfolio highlights Number of properties 127 (Sept ‘24: 128) Sector breakdown based on revenue Total gross lettable area 1 033 891m² (Sept ‘24: 1 038 350m²) Retail 69.8% Vacancy 5.9% (Sept ‘24: 4.3%) 14 Office 18.4% Tenant retention 80.6% 60 (Sept ‘24: 85.7%) 2 Industrial 11.8% 6 Positive ren
Slide 8: Portfolio leasing activity
Portfolio leasing activity New deals Renewals February February February February 2025 2024 2025 2024 Number of leases 196 209 Number of leases 176 128 Total GLA (m2) 45 959 53 173 Total GLA (m2) 54 978 62 855 Average gross rental achieved (R/m2) 100.26 94.02 Average gross rental expiry (R/m2) 136.3
Slide 9: Retail portfolio
Clubview Corner Retail portfolio DARREN WILDER CEO
Slide 10: Retail portfolio highlights
Retail portfolio highlights Number of properties 72 (Sept ‘24: 72) WHERE WE ARE Total gross lettable area 547 324m² (Sept ‘24: 549 005m²) TOTAL 72 10 11 Vacancy 5.1% (Sept ‘24: 4.0%) 20 2 5 Tenant retention 86.4% (Sept ‘24: 86.0%) 10 5 4 Positive rental reversion 2.5% (Sept ‘24: 3.1%) 9 Average gros
Slide 11: Retail leasing activity
Retail leasing activity New deals Renewals February February February February 2025 2024 2025 2024 Number of leases 128 111 Number of leases 121 81 Total GLA (m2) 21 843 16 278 Total GLA (m2) 30 321 24 722 Average gross rental achieved (R/m2) 133.23 132.71 Average gross rental expiry (R/m2) 157.15 1
Slide 12: Office portfolio
Metalbox Office portfolio DARREN WILDER CEO
Slide 13: Office portfolio highlights
Office portfolio highlights Number of properties 29 (Sept ‘24: 29) WHERE WE ARE Total gross lettable area 214 595m² (Sept ‘24: 214 100m²) TOTAL 29 1 Vacancy 14.8% (Sept ‘24: 9.6%) 19 1 Tenant retention 67.6% (Sept ‘24: 75.9%) 3 Positive rental reversion 7.0% (Sept ‘24: 0.6%) 1 Average gross rental p
Slide 14: Office leasing activity
Office leasing activity New deals Renewals February February February February 2025 2024 2025 2024 Number of leases 37 56 Number of leases 33 22 Total GLA (m2) 9 312 16 160 Total GLA (m2) 14 799 8 295 Average gross rental achieved (R/m2) 107.22 113.87 Average gross rental expiry (R/m2) 145.45 132.77
Slide 15: Industrial portfolio
Germiston Route 24 Industrial portfolio DARREN WILDER CEO
Slide 16: Industrial portfolio highlights
Industrial portfolio highlights Number of properties 26 (Sept ‘24: 27) WHERE WE ARE Total gross lettable area 271 972m² (Sept ‘24: 275 245m²) TOTAL 26 3 Vacancy 0.5% (Sept ‘24: 0.9%) 21 Tenant retention 82.1% (Sept ‘24: 91.5%) 1 Positive rental reversion 7.5% (Sept ‘24: 9.7%) Average gross rental pe
Slide 17: Industrial leasing activity
Industrial leasing activity New deals Renewals February February February February 2025 2024 2025 2024 Number of leases 31 42 Number of leases 22 25 Total GLA (m2) 14 804 20 735 Total GLA (m2) 9 858 29 838 Average gross rental achieved (R/m2) 47.24 48.17 Average gross rental expiry (R/m2) 58.90 44.3
Slide 18: Financial update
Access Park Financial update JACQUES KRIEL CFO
Slide 19: Financial update
Financial update Expect LTV to be below 32% at 31 March 2025 Fixed debt at above 65% at 31 March 2025 All bank covenants expected to be comfortably met In final stages of concluding R1 billion refinance deal at highly competitive margins Increased shareholding in Dipula to 26.3% finalised, accretion
Slide 20: Q&A
Mala Plaza Q&A
Slide 21: www.fairvest.co.za
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