Irish Residential Properties Reit Plc · EURONEXT:IRES
Irish Residential Properties Reit — FY2019 Earnings Presentation
23 slides from Irish Residential Properties Reit's earnings presentation, May 2020
Slide 1: 2019 Year End Results – Conference Call
Irish Residential Properties REIT plc May 2020 2019 YEAR END RESULTS – CONFERENCE CALL 1
Slide 2: Cautionary Statements
D I S C L AI M E R Cautionary Statements This presentation has been prepared by Irish Residential Properties REIT PLC (the “Company” or “I-RES”) for information purposes only. This presentation has been prepared in good faith but the information contained in it has not been independently verified an
Slide 3: Highlights
Highlights Trading 2019May 2020 Update 2019 Financial Results Assets Portfolio and Growth Strategy ESG Strategy 3
Slide 4: Trading Update May 2020
IRISH RESIDENTIAL PROPERTIES REIT plc Trading Update May 2020 6 4
Slide 5: I-RES REIT - Key Investment Attractions
I•RES REIT - Key Investment Attractions Attractive Market Backdrop Modern Asset Base with Robust Balance Sheet Established Operating Effective Capital & Growth Opportunities strong growth potential with Strong Liquidity Platform Allocation • Ireland - c. 20% projected • Portfolio of 3,7391 high- • A
Slide 6: Current macro environment challenging and uncertain as a result of Covid-19
Current macro environment challenging and uncertain as a result of Covid-19 • Significant Government income supports in place for workers and employers experiencing job disruption due to Covid-19, which provides some assistance to tenants during these challenging times to maintain their rental payme
Slide 7: Managing through Covid-19 uncertainty
Managing through Covid-19 uncertainty Net Rental Income Margin % Operational Highlights • Trading to April 2020 in line with expectations, however, Covid-19 uncertainty continues, particularly surrounding governmental measures taken and economic impacts • Net rental income margin remained strong at
Slide 8: Strong balance sheet with laddered maturity of debt and diverse funding mix
Strong balance sheet with laddered maturity of debt and diverse funding mix • Continue to execute on our funding strategy to: Funding Strategy RCF Notes • Diversify sources of funding • Extend and ladder the maturity of debt Facility €600m €200m note2 • Maintain a low cost of debt Syndicate of Diver
Slide 9: Ireland’s structural drivers of growth expected to reassert in time
Ireland’s structural drivers of growth expected to reassert in time Eurozone GDP forecasts in 20211 Population growth forecast2 Strong economic fundamentals Estimated demand c.2x supply levels3 Available rental stock in Dublin 4 Significant demand/ supply Imbalance persists 2020 Annual General Meeti
Slide 10: 2019 Financial Results
IRISH RESIDENTIAL PROPERTIES REIT plc 2019 Financial Results 6 10
Slide 11: 2019 Highlights
2019 Highlights Revenue from Investment Properties Net Rental Income Strong Financial Performance in 2019 €62.1m • c. 22.8% increase in Net Rental Income and Earnings €50.5m • EPRA EPS up 6.2% to 6.9 cents (2018: 6.5 cents) €50.6m €41.2m €44.7m €36.3m • €56.2m increase in portfolio valuation – 5.6%
Slide 12: Financial Results 2019
Financial Results 2019 Operating Performance Period ended 31 December 2019 2018 Revenue from Investment Properties (€m) 62.1 50.6 Net Rental Income (€m) 50.5 41.2 EPRA Earnings (€m) 33.1 27.8 EPRA Earnings per share(cents) 6.9 6.5 Profit (€m) 86.3 119.8 Basic EPS (cents) 18.0 28.0 Portfolio Performa
Slide 13: Financial Results 2019
Financial Results 2019 Strong Financial Position As at 31 December 2019 2018 Total Property Value € 1,359.2m € 921.3m Net Assets € 810.2m € 618.7m EPRA NetAssets € 811.0m € 619.6m Basic NAV per share (cents per share) 155.3 142.5 EPRA NAV per share (cents per share) 154.6 142.0 Group Total Gearing 4
Slide 14: Assets Portfolio and Growth Strategy
IRISH RESIDENTIAL PROPERTIES REIT plc Assets Portfolio and Growth Strategy 14
Slide 15: Large Asset Base Located Across Dublin
Large Asset Base Located Across Dublin Key Highlights Portfolio Overview (including all committed forward purchases) Units 36 37 39 South Dublin 01 Beacon South Quarter 225 38 02 Grande Central 65 30 31 33 03 Rockbrook Grande Central 81 Portfolio to reach 3,964(1) units 04 Rockbrook South Central 18
Slide 16: Market leading Portfolio of Assets with Strong Pipeline for Growth
Market leading Portfolio of Assets with Strong Pipeline for Growth Property Location Units Committed pipeline South Dublin 1,074 Assets under City Centre 455 Location construction* West City 409 Bakers Yard 61 West Dublin 807 Hansfield Wood 95 North Dublin 871 Merrion 69 Cork 50 Total at 31 December
Slide 17: Modern asset base, with strong occupancy levels, supported by competitive rental levels
Modern asset base, with strong occupancy levels, supported by competitive rental levels Distribution by Split of Distribution by Average Properties by Distribution by Age Bedrooms(1) Monthly Rent(1) Location(1)(2) (Years) (1) 5% 1% 1% 6% 1% 5% 12% 10% 3% 23% 21% 33% 5% 15% 40% 54% 64% 42% 59% €1,000
Slide 18: I-RES REIT Growth Strategy remains intact and continues to provide optionality
I•RES REIT Growth Strategy remains intact and continues to provide optionality Multi-Channel Growth Strategy to Deliver Sustainable Long-Term Growth 1 2 3 Acquisition of Development Development Completed Assets Partnerships of Existing I•RES Properties • Continued evaluation of new • Forward purchas
Slide 19: Strong Execution on Growth Strategy 2018 and 2019
Strong Execution on Growth Strategy 2018 and 2019 Hampton Wood Hansfield Wood II The Coast Waterside Marathon XVI Portfolio Key: 128 units 95 units 52 units 55 units 815 units Completed acquisition • Acquisition in May 2018 for • Development agreement in • Acquisition in May ‘19 for c. • Acquisition
Slide 20: ESG Strategy
IRISH RESIDENTIAL PROPERTIES REIT plc ESG Strategy 20
Slide 21: ESG is Central to IRES’ Strategy
ESG is Central to IRES’ Strategy Key Highlights ESG Framework Overview • Sustainability is central to IRES’ mission and strategy • ESG objectives focus on the sustainability of building development and management practices, community engagement, and tenant comfort and safety IRES Built Environmen
Slide 22: A Place to Call Home
A Place to Call Home 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc 17 22
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