Varia Us Properties Ag · SIX:VARN
Varia Us Properties — H1 2023 Earnings Presentation
19 slides from Varia Us Properties's earnings presentation, Aug 31, 2023
Slide 1: Half-Year Results 2023
Half-Year Results 2023 31 August 2023
Slide 2: Important Notice
Important Notice This presentation includes forward-looking information and statements, including statements concerning the outlook for our business. These statements are based on current expectations, estimates and projections about the factors that may affect our future performance, including the
Slide 3: Agenda
Agenda 1. Key achievements 2. Financials HY 2023 3. Portfolio update 4. Outlook 3
Slide 4: Agenda
Agenda 1. Key achievements 2. Financials HY 2023 3. Portfolio update 4. Outlook 4
Slide 5: Achievements HY 2023
Achievements HY 2023 Key Figures • Rental income up 8.1% to USD 67.0 million (H1 2022: USD 62.0 million) • Total realized income at USD 85.3 million (H1 2022: USD 91.1 million) • Total income was USD 22.4 million (H1 2022: USD 248.9 million) • EBITDA was lower at USD 27.9 million (H1 2022: USD 45.5
Slide 6: Varia US Properties at a Glance
Varia US Properties at a Glance Geographic breakdown as of 30 June 2023 • Portfolio value of USD 1,460 billion (end of 2022: USD 1,704 billion) • 33 assets • 9,170 units • 13 different States in the US • Regionally balanced strategy • Well positioned in markets where population and job growth are ve
Slide 7: ESG Progress in HY 2023
ESG Progress in HY 2023 Certifications and pilot projects • “Green Globes“ sustainable building certifications as well as five „Energy Star” building performance certifications gathered in HY 2023 • Completion of the second annual submission to the “Global Real Estate Sustainability Benchmark” (GRES
Slide 8: Agenda
Agenda 1. Key achievements 2. Financials HY 2023 3. Portfolio update 4. Outlook 8
Slide 9: HY 2023 Key Figures (1/2)
HY 2023 Key Figures (1/2) Rental Income in Mio Total Income in Mio Rental Income Like for Like in Mio 1 Rental Income in Mio 1 Total Income in Mio 320.0 140 126.5 350 297.7 120 98.4 300 248.9 88.9 107.9 100 76.3 250 80 59.9 200 67.0 152.4 62.0 139.5 60 150 100.8 40 100 88.2 70.8 76.5 20 44.1 47.3 50
Slide 10: HY 2023 Key Figures (2/2)
HY 2023 Key Figures (2/2) Debt in Mio Portfolio Value (USD Mio) Mortages Balance of interest bearing loans and borrowings LTV Debt Ratio 1200 70% 1’043 Portfolio Value Like for Like Portfolio Value 1,704 65% 1’460 1000 944 898 869 60% 1,412 851 760 55% 1’509 800 601 50% 567 545 915 928 600 516 45% 7
Slide 11: Consolidated Statement of Profit and Loss
Consolidated Statement of Profit and Loss * Like for Like compares assets that were held for the full periods of HY 2023 and HY 2022 11
Slide 12: Consolidated Statement of Financial Position (1/2)
Consolidated Statement of Financial Position (1/2) 12
Slide 13: Consolidated Statement of Financial Position (2/2)
Consolidated Statement of Financial Position (2/2) * Include realized gain on disposal of properties 13
Slide 14: Agenda
Agenda 1. Key achievements 2. Financials HY 2023 3. Portfolio update 4. Outlook 14
Slide 15: Portfolio HY 2023
Portfolio HY 2023 Key Figures PORTFOLIO NUMBER OF NUMBER OF MARKET VALUE OCCUPANCY VALUE1 PROPERTIES UNITS PER UNIT RATE End of 2022: USD 1,704 billion End of 2022: 41 End of 2022: 11,042 End of 2022: USD 154,297 End of 2022: 93.1 % USD billion 1,460 33 9,170 USD 159,226 92.3% AVERAGE INTEREST- POTE
Slide 16: Portfolio Development – Dispositions
Portfolio Development – Dispositions • During HY 2023, the Company disposed of eight non-strategic assets: • As at 30 June 2023, the Company had three more dispositions pending, one in Memphis (TN) and two in St Louis (MO). Closings are expected to take place respectively in Q3 and Q4 2023 16
Slide 17: Agenda
Agenda 1. Key achievements 2. Financials HY 2023 3. Portfolio update 4. Outlook 17
Slide 18: Outlook 2023 (2nd half)
Outlook 2023 (2nd half) • The market is expected to be slow until the end of the year. As a result, valuations will likely continue to come down • At the same time,Varia US expects to continue seeing further operational progress like the increase in rental income that was achieved in HY 2023 • The f
Slide 19: Information
Information Investor Information Contact Information Listing: SIX Swiss Exchange Juerg Staehelin, IRF Currency: USD Investor Relations / Corporate Ticker symbol: VARN Communications ISIN: CH 030 528 529 5 Phone: +41 43 244 81 51 Listing date: December 8, 2016 E-mail: investors@variausproperties.com