Immobel Sa · EURONEXT:IMMO
Immobel Sa — Debt Investor Presentation (May 2017)
52 slides from Immobel Sa's debt investor presentation, May 2017
Slide 1: Investors Presentation - Roadshow May 2017
IMMOBEL INVESTORS PRESENTATION Roadshow - May 2017
Slide 2: Disclaimer
DISCLAIMER By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations: Investors and prospective investors in the Securities of the Company are required to make their own independent investigation and appraisal
Slide 3: Agenda
AGENDA 1. COMPANY OVERVIEW 2. REFERENCES & PORTFOLIO OVERVIEW 3. SHAREHOLDING & KEY FINANCIALS 2016 4. BOND INVESTMENT CONSIDERATIONS 5. Q&A 3
Slide 4: In a Nutshell
1. IN A NUTSHELL 850.000 M² >550 MEUR RESIDENTIAL IN DEVELOPMENT MARKET CAPITALIZATION 100 TALENTS 3 COUNTRIES OFFICES LANDBANKING 3 SECTORS 4
Slide 5: History
1. HISTORY Adoption of the stock exchange IMMOBEL becomes an indisputable Belgian reference point, the denomination largest listed Merger with Birth of the Immobilier and deployment in Belgian property Merger with the Grand-Duchy ALLFIN developer Compagnie Consortium Entreprises becomes the Immobili
Slide 6: Mission & Values
1. MISSION & VALUES OUR MISSION & SPIRIT OUR VALUES All of them passionate, the talented IMMOBEL ◦ Know How & Experience personnel share the same demanding spirit and ◦ Seeking Excellence ◦ Transparency & Financial Strenghts vision: to bring ambitious projects into being. ◦ Agility & Flexibility The
Slide 7: 360° Property Development
1. 360° PROPERTY DEVELOPMENT PROSPECTING MARKETING MARKETING ACQUISITION LEGAL E FINANCE DEVELOPMENT CONCEPTION PERMITS 7
Slide 8: Strategy
1. STRATEGY FOCUS ON MATURE MARKETS FOCUS ON TOP LOCATIONS REMAIN AGILE ALL THE TIME Currently: Belgium, Luxembourg and Poland We are convinced that the best locations In a world and a business in perpetual These markets are stable and we have a deep always outperform the market and better movement
Slide 9: Corporate Governance – Board of Directors
1. CORPORATE GOVERNANCE – BOARD OF DIRECTORS • Founder and CEO of Allfin Group • Previously Chief Commercial • Group HR Director at Ontex and • Mermber of the Supervisory • CEO at Home Invest (2001-2016) Officer at Home Invest (2013- Independent Director at Colruyt Board of NSI • Previous positions
Slide 10: Corporate Governance – Executive Committee
1. CORPORATE GOVERNANCE – EXECUTIVE COMMITTEE Marnix Galle Alexander Hodac Valery Autin Nicolas Billen Chairman of the Board Managing Director Chief Financial Officer Head of Development Hilde De Valck Karim Zouaoui Rudi op ‘t Roodt Head of Project Head of Business Head of Technical Structuring & Fi
Slide 11: Agenda
AGENDA 1. COMPANY OVERVIEW 2. REFERENCES & PORTFOLIO OVERVIEW 3. SHAREHOLDING & KEY FINANCIALS 2016 4. BOND INVESTMENT CONSIDERATIONS 5. Q&A 11
Slide 12: Chambon
CHAMBON BRUSSELS 42,452 m² Characteristics of the project In the very heart of historic Brussels, the rehabilitation of a U-shaped building which is part of this history, accommodates very top of the range apartments and penthouses, with a complete range of residential services. The project also inc
Slide 13: Chambon
CHAMBON ADDRESS Rue Fossé aux Loups, rue d’Argent, rue des Boiteux, rue Montagne aux Herbes Potagères – 1000 Brussels ARCHITECTS Jaspers –Eyers & Partners + A2RC Architects TECHNICAL DATA N/A Characteristics of the project STATUS Under delivery In the very heart of historic Brussels, the rehabilitat
Slide 14: The Black Pearl
THE BLACK PEARL BRUSSELS 11,000 m² Characteristics of the project Located in the Leopold District in the immediate vicinity of the European Institutions, Black Pearl is an elegant office complex and is, additionally, a building with the highest environmental standards (awarded ‘Exemplary Building’ s
Slide 15: The Black Pearl
THE BLACK PEARL ADDRESS Rue Montoyer 15, 1000 Brussels ARCHITECTS Art & Build Characteristics of the project Passive building / Excellent thermal and acoustic insulation / Geothermal wells and pumps / Double flow ventilation / Gas Located in the Leopold District in the immediate vicinity of the TECH
Slide 16: Vesalius
VESALIUS LEUVEN 30,000 m² Characteristics of the project In the very heart of the historic centre of Louvain and a short distance from its very prestigious university (KUL), this mixed- use complex comprises some superb apartments and studios and some commercial premises. It also has 2 cinemas and a
Slide 17: Vesalius
VESALIUS ADDRESS Andreas Vesaliusstraat 1 and Tiensestraat – 3000 Leuven ARCHITECTS Jaspers-Eyers Architects TECHNICAL DATA N/A Characteristics of the project STATUS Under construction In the very heart of the historic centre of Louvain and a short CONTRACTING AUTHORITY VESALIUS CONSTRUCT NV distanc
Slide 18: Belair - RAC 2
BELAIR - RAC 2 BRUSSELS 9,500 m² Characteristics of the project Half way between the European District and the centre of Brussels, and just a short way from the Royal Park, this project to redevelop a 1958 building responds to the most exacting energy standards (BREEAM ‘very good ‘). It offers well
Slide 19: Belair - RAC 2
BELAIR - RAC 2 ADDRESS Rue de Ligne 40, 1000 Brussels ARCHITECTS Jaspers-Eyers Architects Excellent thermal and acoustic insulation / Double flow ventilation / Gas heaters / Gas cogeneration / Solar panels / Characteristics of the project TECHNICAL DATA Green roof / BREEAM “Very Good” / Recovery of
Slide 20: Galerie Kons
GALERIE KONS CITY OF LUXEMBOURG 22,700 m2 Characteristics of the project Ideally located opposite the station, the ground floor of the Kons project has almost 4,000 m² of space for retailers and local services, adding to the comfort of the building occupants and the liveliness of the district. 20
Slide 21: Galerie Kons
GALERIE KONS ADDRESS Place de la Gare 26, L-1616 Luxembourg ARCHITECTS M3 Architects TECHNICAL DATA Excellent thermal and acoustic insulation / Green roof / BREEAM “Very Good” on the office building, with reversible ceilings and triple glazing « Certificat de performance énergétique » (CPE) B-B-A cl
Slide 22: Agenda
AGENDA 1. COMPANY OVERVIEW 2. REFERENCES & PORTFOLIO OVERVIEW 3. SHAREHOLDING & KEY FINANCIALS 2016 4. BOND INVESTMENT CONSIDERATIONS 5. Q&A 22
Slide 23: Overview of Portfolio (Limited Selection)
2. OVERVIEW OF PORTFOLIO (LIMITED SELECTION) PROJECT COUNTRY / CITY M² PROJECT COUNTRY / CITY M² Universalis Park Brussels 110.000 M1 Livingstone Luxembourg 36.000 O'sea Oostende 88.500 Infinity Luxembourg 33.300 Mobius Brussels 59.400 Polvermillen Luxembourg 26.600 RAC 4 Brussels 55.600 M7 Fuussban
Slide 24: Universalis Park
UNIVERSALIS PARK BRUSSELS 110,000 m² Characteristics of the project The Universalis Park project is a large-scale development, mainly residential, situated on the la Plaine site (ULB/VUB - Delta) and which will be completed in several phases. This project will be made up of a great residential mix,
Slide 25: Universalis Park
UNIVERSALIS PARK ADDRESS Boulevard du Triomphe, 1050 Brussels ARCHITECTS Art & Build Excellent thermal and acoustic insulation / Double flow TECHNICAL DATA ventilation / Gas heaters / Green roof / Recovery of rainwater / Use of recyclable materials STATUS Scheme being worked up CONTRACTING AUTHORITY
Slide 26: O'Sea
O’SEA OOSTENDE 88,500 m² Characteristics of the project In a well located district of Ostend – close to the seafront – this sustainable residential complex project is being developed in several phases. Creating a new perfectly integrated district, it will offer a choice of made to measure living spa
Slide 27: O'Sea
O’SEA ADDRESS Troonstraat (N34) between Elisabethlaan and Leopold van Tyghemlaan - 8400 Ostende ARCHITECTS Conix RDBM TECHNICAL DATA Phase 1 – O’sea Charme will start after permit procurement (Q3 2016) - Phase 2 / 3 / 4 : N/A STATUS Works of Phase 1 started Phase 1 - O’sea Charme: 10 houses - 18 sma
Slide 28: Ernest
ERNEST BRUSSELS 50,000 m² Characteristics of the project Between the Avenue Louise and the European District, in a trendy area, this prestigious urban rehabilitation project (former Solvay headquarters), is a mixed use complex in several phases. It is made up of high class apartments and several oth
Slide 29: Ernest
ERNEST ADDRESS Chaussée d’Ixelles, Rue Keyenveld, Rue de l’Arbre Bénit, Rue du Prince Albert, Rue du Prince Royal – 1050 Brussels ARCHITECTS Jaspers –Eyers & Partners + A2RC Architects TECHNICAL DATA Valideo certificate for the senior housing STATUS Phase 1: delivery ongoing. Phase 2: dwellings part
Slide 30: Greenhill Park
GREENHILL PARK BRUSSELS 6,000 m2 Characteristics of the project Set in the heart of a tree-lined site alongside the Woluwe Park, this luxury complex comprises two elegant buildings featuring timeless architecture. The top of the range residences offer an open view over the garden, and benefit from a
Slide 31: Greenhill Park
GREENHILL PARK ADDRESS Avenue du Val d’Or, Rue Julien Vermeersch, Avenue de Tervueren 1150 Brussels ARCHITECTS ARCHI2000 TECHNICAL DATA N/A STATUS Waiting for permit CONTRACTING AUTHORITY IMMOBEL SA UNITS 31 apartments or penthouses PROGRAM 6,000 m² of residential space Characteristics of the projec
Slide 32: Lake Front
LAKE FRONT KNOKKE-HEIST 12,200 m² Characteristics of the project Just a few minutes’ walk from the magnificent urban centre of Knokke, this residential complex overlooks the Duinenwater lake. It offers exclusive apartments with a view over the water, a stone’s throw from the new golf course, the swi
Slide 33: Lake Front
LAKE FRONT ADDRESS Duinenwaterstraat 92-120 – 8300 Knokke-Heist ARCHITECTS Project Architects N/A TECHNICAL DATA STATUS Phase 1 & 2 - Under construction & commercialization CONTRACTING AUTHORITY Lake Front nv Phase 1: 70 apartments. Phase 2: 50 apartments. PROGRAM 12,000 m² of residential space Char
Slide 34: Cedet
CEDET WARSAW 22,400 m2 Characteristics of the project CEDET is a unique project of restoration and expansion of a historic building located at 50 Krucza Street – a modernistic pearl of Polish post-war architecture. The CEDET building that combines retail functions and highest class of office space w
Slide 35: Cedet
CEDET ADDRESS Krucza 50 Street, Warsaw ARCHITECTS AMC Andrzej Chołdzyński, RKW Rhode Kellermann Wawrowsky TECHNICAL DATA Excellent thermal and acoustic insulation / BREEAM “Excellent” / Recovery of rainwater / Use of recyclable materials / Urban heating / Low energy lighting / Very high quality fini
Slide 36: Granary Island
GRANARY ISLAND GDANSK 60,000 m2 Characteristics of the project The project involves maintaining the historical remains of granaries, enriching them with modern, functional housing with public space. During the first phase of the project building of the footbridge over the Motława River, reconstructi
Slide 37: Granary Island
GRANARY ISLAND ADDRESS Motławska / Pożarnicza Street, Gdańsk RKW Rhode Kellerman Wawrowsky, KWADRAT archtectural studio, EUROPROJEKT Stągiewny bridge and footbridge ARCHITECTS designers TECHNICAL DATA Excellent thermal and acoustic insulation / Urban heating / Low energy lighting / Presence and abse
Slide 38: Polvermillen
POLVERMILLEN CITY OF LUXEMBOURG 26,600 m2 Characteristics of the project This complex on the banks of the Alzette offers a totally new working framework between the city and nature. Located in the immediate vicinity of the Kirchberg plateau, it will comprise a very mixed use ensemble : offices along
Slide 39: Polvermillen
Rue Du Fort Dumoulin, ADDRESS POLVERMILLEN 1425 Luxembourg ASSAR Architects, Brussels ARCHITECTS BalliniPitt, Luxembourg TECHNICAL DATA « Certificat de performance énergétique » (CPE) classe A-A-A Under permitting procedure STATUS Depollution and demolition works started CONTRACTING AUTHORITY Polver
Slide 40: Infinity
INFINITY CITY OF LUXEMBOURG 33,300 m2 Characteristics of the project Located at the entrance to Kirchberg, ideally served by transport modes and in the immediate proximity of the European Institutions, the INFINITY buildings complex offers a prestigious address with unique visibility in Luxembourg.
Slide 41: Infinity
INFINITY ADDRESS Avenue JF Kennedy, Rue du Fort Niedergrünewald L-2226 Luxembourg ARCHITECTS Arquitectonica architects, Miami M3 architectes, Luxembourg TECHNICAL DATA BREAM Excellent on the office building Characteristics of the project Green roof terraces, thermic panels and perfect thermic and ac
Slide 42: Agenda
AGENDA 1. COMPANY OVERVIEW 2. REFERENCES & PORTFOLIO OVERVIEW 3. SHAREHOLDING & KEY FINANCIALS 2016 4. BOND INVESTMENT CONSIDERATIONS 5. Q&A 42
Slide 43: Shareholding – Key Financials 2016
3. SHAREHOLDING – KEY FINANCIALS 2016 4.12 % 58.77 % CAPFI DELEN ASSET A³ CAPITAL NV + VEMACO NV MANAGEMENT NV + A³ MANAGEMENT BVBA 24.81 % FREE FLOAT 12.30 % IMMOBEL SA A³ Capital, A³ Management and Vemaco are companies held directly or indirectly by Marnix Galle At 31/12/2016 43
Slide 44: Shareholding – Key Financials 2016
3. SHAREHOLDING – KEY FINANCIALS 2016 44
Slide 45: Shareholding – Key Financials 2016
3. SHAREHOLDING – KEY FINANCIALS 2016 45
Slide 46: Shareholding – Key Financials 2016
3. SHAREHOLDING – KEY FINANCIALS 2016 46
Slide 47: Shareholding – Key Financials 2016
3. SHAREHOLDING – KEY FINANCIALS 2016 Equity/Assets : 40% Loan to Cost* : 66% Net Financial debt / Equity : 82% Net Financial Debt / (Net Financial Debt + Equity) : 58% * Loan to Costs = Total debts / Inventories valued at historical cost 47
Slide 48: Agenda
AGENDA 1. COMPANY OVERVIEW 2. REFERENCES & PORTFOLIO OVERVIEW 3. SHAREHOLDING & KEY FINANCIALS 2016 4. BOND INVESTMENT CONSIDERATIONS 5. Q&A 48
Slide 49: Bond Investment Considerations – Why Immobel?
4. BOND INVESTMENT CONSIDERATIONS – WHY IMMOBEL? • Experienced company listed since 1863 with proven track record in • Strong pipeline of diversified projects ensuring future revenues developing high quality assets in top locations • Sound financial performance with permanent view and monitoring • E
Slide 50: Bond Investment Considerations – Key Terms
4. BOND INVESTMENT CONSIDERATIONS – KEY TERMS ISSUER Compagnie Immobilière de Belgique SA/NV DENOMINATION Eur 100k GUARANTOR N/A USE OF PROCEEDS General corporate purposes ISSUANCE AMOUNT Up to 100 millions EUR LISTING Alternext Brussels TENOR 5 to 7 years bullet FORM Dematerialized RANKING Senior,
Slide 51: Agenda
AGENDA 1. COMPANY OVERVIEW 2. REFERENCES & PORTFOLIO OVERVIEW 3. GROUP STRUCTURE & KEY FINANCIALS 2016 4. BOND INVESTMENT CONSIDERATIONS 5. Q&A 51
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