Hamborner Reit Ag · XETR:HABA
Hamborner Reit — Investor Presentation (October 2023)
35 slides from Hamborner Reit's investor presentation, October 2023
Slide 1: Company Presentation October 2023
Company Presentation October 2023 Office property Ingolstadt
Slide 2: Agenda
Agenda 1. HAMBORNER at a glance 2. Portfolio Overview 3. Asset Management 4. Financials 5. Sustainability / ESG 6. Appendix Agenda |2
Slide 3: 1. HAMBORNER at a glance
1. HAMBORNER at a glance Office property ‚Nu-Office‘ Munich
Slide 4: Company profile
Company profile History Company profile ▪ Public commercial property company 1953 Foundation of HAMBORNER ▪ Profitable and diversified German-wide property portfolio Listing on stock exchange ▪ Two-pillar portfolio structure with focus on food-anchored retail and 1954 office properties Clear focus o
Slide 5: The HAMBORNER Share
The HAMBORNER Share The HAMBORNER Share Shareholder structure Current share price €6.45 (as of 29 September 2023) Market capitalisation €524.7m (as of 29 September 2023) 12.20% RAG Foundation WKN/ISIN A3H233 / DE000A3H2333 Ticker symbol HABA 81,343,348 5.37% BlackRock shares Class of shares Register
Slide 6: 2. Portfolio Overview
2. Portfolio Overview Office property Münster
Slide 7: Portfolio Strategy – Target Structure
Portfolio Strategy – Target Structure Retail Portfolio Office Portfolio Manage-to-Core properties Manage-to-Core properties 10-20% 10-20% with value-add potential with value-add potential Maintaining/extension of 80-90 % Maintaining/extension of 80-90% core retail portfolio with 80-90% core office p
Slide 8: Portfolio Management Approach
Portfolio Management Approach ▪ Retail Asset classes ▪ Office ▪ Core Risk profile ▪ Manage-to-Core ▪ > €10m (retail) Lot size ▪ > €20m (office) ▪ Focus on core investments ▪ Addition of selected Manage-to-Core properties with larger asset management need (refurbishment, reletting, repositioning etc.
Slide 9: Geographical Portfolio Structure
Geographical Portfolio Structure Geographical Focus (Metropolitan Regions in Germany) Portfolio by Metropolitan Regions Metropolitan Region Share of portfolio volume 1 Rhine-Ruhr 22.0% 8 2 Frankfurt Rhine-Main 12.4% 10 9 3 Berlin-Brandenburg 10.0% 3 4 Nuremberg 9.0% 5 Stuttgart 6.0% 1 11 6 Munich 5.
Slide 10: Portfolio development
Portfolio development 2.000 50 Portfolio value and average property value Comments ▪ Continuous value-adding portfolio growth since 1,589 1,625 1,604 1,609 conversion into a G-REIT in 2010 1,517 1,516 40 1.500 ▪ Average annual growth rate of 10.7% 1.363 over the last 10 years ▪ Average property valu
Slide 11: Portfolio key metrics as of 30 June 2023
Portfolio key metrics as of 30 June 2023 Asset class Total portfolio Investment approach Retail Office Split Core % Manage-to-Core % Number of properties 37 28 65 62 95.5% 3 4.5% Fair Value €833.0m €683.5m €1,516.4m €1,457.2m 96.1% €59.2m 3.9% Leased area 375,234 m² 229,703 m² 604,936 m² 577,737 m²
Slide 12: Rent development
Rent development Development of annualized rents year on year +€3.6m -€1.7m -€0.2m €86.3m €84.6m -1.9% -0.2% +4.3% Annualized rents Indexation Re-lettings/ Disposals Annualized rents 30 Jun 2022 Vacancy change 30 Jun 2023 Rent development like-for-like/year-on-year(1) Asset class Total portfolio Inv
Slide 13: Portfolio revaluation
Portfolio revaluation Portfolio development H1 2023 Comments ▪ Total value reduction resulting from property Disposal Retail Portfolio (LfL) Office Portfolio (LfL) disposal (-€1.0m) and -5.7% decrease of like-for- Portfolio value like portfolio value (-€91.2m) €1,608.6m ▪ Decline in total value due
Slide 14: Acquisitions H1 2023
Acquisitions H1 2023 Hanau Offenburg Hanau Offenburg Asset type Retail Retail Investment approach Core Core Year of construction 1997 (refurbished 2017) 2017 Leased area 4,100 m2 13,900 m2 WALT(1) 12.5 years 7.8 years Offenburg Occupancy rate(1) 100% 100% Annual rental income(1) ~€0.4m ~€1.2m Purcha
Slide 15: 3. Asset Management
3. Asset Management Retail property ‚Rondo Steinheim‘ Hanau
Slide 16: Tenant base
Tenant base Top-10 tenants (as of 30 June 2023) Sector distribution (as of 30 June 2023) Tenant Sector Rent(1) Sector Rent(1) EDEKA Food retail 11.8% Food 31.9% Kaufland Food retail 7.5% DIY 11.9% REWE Food retail 7.1% IT / Communication 10.6% OBI DIY 7.0% Finance / Insurance 7.5% Globus DIY / Food
Slide 17: Leasing situation
Leasing situation Weighted average lease expiry (as of 30 June 2023) Letting result H1 2023 25,871 m² 14,386 m² 70% 11,485 m² 59% 83% 7.3 years 41% 30% 5.0 years 6.3 years 17% New lettings Contract extensions Total Retail Office Total Retail Office 30,0% Lease expiry schedule (as of 30 June 2023; in
Slide 18: 4. Financials
4. Financials Office property/Medical center Regensburg
Slide 19: Key figures H1 2023
Key figures H1 2023 Key figures 30 June 2023 30 June 2022 Change Profit and loss statement Income from rents and leases €43.7m €41.9m +4.3% Operating result €4.0m €12.4m -67.7% Profit for the period -€2.2m €5.9m n/a Key KPIs Funds from Operations (FFO) €28.1m €24.2m +16.3% Funds from Operations (FFO
Slide 20: Funds from operations (FFO)
Funds from operations (FFO) in k€ H1 2023 H1 2022 Change Comments 1 Income from rents and leases 43,675 41,878 +4.3% ▪1 Income from rents and leases positively affected Income from passed on costs 7,672 7,005 +9.6% by rent increases from property additions as well as by indexation effects Operating
Slide 21: EPRA NAV & NTA
EPRA NAV & NTA NAV development H1 2023 €964.8m -€38.2m +€28.1m -€91.2m +€0.6m -€3.3m €860.7m -€0.3m €860.4m NAV Dividend FFO Like-for-like Disposals Other NAV Intangible NTA 31 Dec 2022 Revaluation effects 30 June 2023 Assets 30 June 2023 NAV/share NAV/share NTA/share -10.8% €11.86 €10.58 €10.58 Fin
Slide 22: Financial situation
Financial situation Expiration of financial liabilities (as of 30 June 2023) 56.4% REIT equity ratio 42.2% LTV 2.0% 9.6x Net debt/EBITDA(1) 5.6x 20.3% EBITDA/Interest coverage 16.5% 13.4% 12.9% 12.4% €701.0m 8.3% 7.4% Financial liabilities 2.8% 3.1% 1.2% 1.8% 2023 2024 2025 2026 2027 2028 2029 2030
Slide 23: Guidance update full-year 2023
Guidance update full-year 2023 €88.0 – 89.0m Rental income €51.0m – €53.0m FFO 7.0 – 12.0% below previous year‘s level NAV per share Financials | 23
Slide 24: 5. Sustainability / ESG
5. Sustainability / ESG Office property Neu-Isenburg
Slide 25: ESG organization
ESG organization Supervisory Board Internal Sustainability Management Management ▪ Sustainability Committee Supervisory consisting of Management Board ESG/ Management Board Board Sustainability Board ▪ Advising and monitoring members and the ESG Officers ESG Committee of Management Board from indivi
Slide 26: ESG strategy
ESG strategy Strategic development and guidelines Key Action Areas ▪ Integration of sustainability/ESG criteria into overall strategy ▪ Implementation of strategic sustainability programme ▪ Planning and controlling of sustainability activities by internal Corporate Environmental sustainability comm
Slide 27: ESG management | Selected activities in key action areas
ESG management | Selected activities in key action areas Key Action Area Activities 2023 ▪ Ongoing data management optimisation and database expansion ▪ Extension of carbon footprinting on company and portfolio level Environmental Management & Climate Protection ▪ Development of decarbonisation stra
Slide 28: ESG KPIs
ESG KPIs Key environmental KPIs 2022 (like for like) Emission data 2022 (Scope 1-3, like for like) Total energy intensity Water Waste Emission intensity (Heating & Electricity) intensity intensity Total portfolio 167.9 kWh/m² 360.4 l/m² 27.6 kg/m² 51.0 kg CO2e/m² -2.4% +23.6% +0.8% -10,3% like-for-l
Slide 29: 6. Appendix
6. Appendix Retail Lengerich
Slide 30: Portfolio Rotation
Portfolio Rotation Transactions since strategy update in July 2020(1) Implementation of adjusted strategy 24 disposals since strategy update in 2020 Portfolio as of 30 June 2020 Portfolio as of 30 June 2023 Total sales volume of €200.6 with 3.7% Assets 83 Assets 65 premium to latest fair values Port
Slide 31: Top-10 properties (1/2)
Top-10 properties (1/2) Mannheim Munich Cologne Berlin Karlsruhe Asset type Retail Office Office Office Retail Year of acquisition 2016 2013 2017 2013 2012 Purchase price €80.0m €40.2m €49.0m €33.0m €37.0m Fair value(1) €76.1m €69.7m €68.4m €68.4m €53.2m Annual rents €4.1m €2.8m €3.1m €2.8m €2.6m WA
Slide 32: Top-10 properties (2/2)
Top-10 properties (2/2) Hanau Aachen Celle Hallstadt Tübingen Asset type Retail Office Retail Retail Retail Year of acquisition 2017 2020 2015 2017 2012 Purchase price €37.5m €37.4m €35.2m €40.4m €22.2m Fair value(1) €45.9m €40.7m €40.6m €40.4m €35.6m Annual rents €2.1m €2.1m €2.0m €2.6m €1.8m WALT(
Slide 33: Financial Calendar
Financial Calendar Quarterly financial statement Q3 2023 9 November 2023 Annual Report 2023 14 March 2024 Provisional figures for 2023 8 February 2024 Quarterly financial statement Q1 2024 23 April 2024 Appendix | 33
Slide 34: Contact
Contact Niclas Karoff Sarah Verheyen CEO/CFO COO/CIO E-Mail: n.karoff@hamborner.de E-Mail: s.verheyen@hamborner.de Christoph Heitmann HAMBORNER REIT AG Head of IR & PR www.hamborner.de info@ir.hamborner.de E-Mail: c.heitmann@hamborner.de +49 (0)203/54405-32 Appendix | 34
Slide 35: Disclaimer
This presentation has been prepared and/or issued by HAMBORNER REIT AG (hereinafter "HAMBORNER") solely for information purposes. This presentation may contain statements, assumptions, opinions and predictions about the anticipated future development of HAMBORNER ("forward-looking statements") that
Hamborner REIT — Investor Presentation (October 2023) on 6ix