Corestate Capital Holding Sa · XETR:CCAP
Corestate Capital Holding Sa — H1 2017 Earnings Presentation
24 slides from Corestate Capital Holding Sa's earnings presentation, Aug 16, 2017
Slide 1: CORESTATE Capital Group H1 2017 Earnings Presentation
CORESTATE Capital Group A Leading Real Estate Investment Manager H1 2017 Earnings Presentation 16 August 2017 Page 1 | CORESTATE Capital Holding S.A.
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significant risks, as well as uncertainties and contingencies that a
Slide 3: Executive Management Team
Executive Management Team Sascha Lars Thomas Wilhelm Schnidrig Landschreiber CEO CFO CIO & Co-Founder Key Responsibilities: Key Responsibilities: Key Responsibilities: • Strategy • Financing • Deal sourcing • Equity raising and client relations • Investor Relations • Acquisition structuring • Organi
Slide 4: CORESTATE at a Glance
CORESTATE at a Glance Total assets under management Comprehensive local and international footprint (AuM) of c. € 20 bn(1) Mainoffices Total transaction volume of more than € 30 bn(2) Secondary offices Attractive and diversified offering across many Hamburg asset classes, matching needs of different
Slide 5: Agenda
Agenda 1 H1 2017 Highlights 2 Update on Acquisitions 3 Outlook 4 Appendix Page 5 | CORESTATE Capital Holding S.A.
Slide 6: H1 2017 Highlights
1 H1 2017 Highlights Page 6 | CORESTATE Capital Holding S.A.
Slide 7: H1 2017 – Key Highlights (1/3)
H1 2017 – Key Highlights (1/3) Reported figures do not include the HL and HFS acquisitions, unless indicated otherwise Company Development: Pro Forma Assets Under Management Sourcing Pipeline € billion € billion • Increased AuM to c. €20 bn(1,2) through transformational acquisitions of Hannover 4,9
Slide 8: H1 2017 – Key Highlights (2/3)
H1 2017 – Key Highlights (2/3) Reported figures do not include the HL and HFS acquisitions, unless indicated otherwise Financials: Aggregate Revenues(1) Recurring Fee Revenues(2) • Aggregate revenues grew by 116% € million € million organically to €48.6 m 48,6 • Strong growth of recurring fee revenu
Slide 9: H1 2017 – Key Highlights (3/3)
H1 2017 – Key Highlights (3/3) Continued Share Price Outperformance in 2017(1) Pro Forma Shareholder Structure(2) % 1 Jul. 2017: • Announcement HFS 300 acquisition • Increase of 2017E earnings guidance to €85-90 m Other +151% 9,0% 8 May 2017: 250 Flygon Holding Increase of 2017E M. Graf zu LLC earni
Slide 10: Update on Acquisitions
2 Update on Acquisitions Page 10 | CORESTATE Capital Holding S.A.
Slide 11: Strong Strategic Rationale – HL and HFS Complement CORESTATE
Strong Strategic Rationale – HL and HFS Complement CORESTATE Broad Range of Assets Retail Residential Microliving Office Hotels Aviation Broad Range of Investment Products Real estate equity Real estate mezzanine / debt Managed accounts Closed-ended funds Real estate special-AIF Open-ended funds Rea
Slide 12: Achievement of Substantial Size Through HL and HFS Acquisition
Achievement of Substantial Size Through HL and HFS Acquisition Pro Forma AuM(1,2) Post acquisition of HL and HFS, CORESTATE will reach an AuM base of c. Non-Strategic Strategic 20% 80% €20 bn(1,2) Non-strategic 20% Achievement of critical scale will help drive further synergy potential Aviation
Slide 13: HL and HFS Will Be Fully Consolidated From Q3 2017 Onwards
HL and HFS Will Be Fully Consolidated From Q3 2017 Onwards IPO Hannover Leasing Acquisition BaFin approves Hannover Leasing Acquisition 1st-Time Consolidation of HL and HFS(2) Oct-16 Dec-16 Feb-17 Jun-17 Jul-17 Aug-17 Capital Increase Helvetic Financial Services Acquisition H1 Earnings Announcement
Slide 14: Tangible Asset Pipeline Will Lead to Further Organic Growth
Tangible Asset Pipeline Will Lead to Further Organic Growth Large and Visible Pipeline Pipeline CORESTATE Pre HL / HFS Acquisition(1) Pipeline CORESTATE Post HL / HFS Acquisition HFS seed assets 6% Exclusive Exclusive 16% 21% Under review / € 3.2 bn LOI status / In Under review / € 4.9 bn LOI status
Slide 15: Pro Forma Balance Sheet Structure Post HL and HFS Acquisition
Pro Forma Balance Sheet Structure Post HL and HFS Acquisition Preliminary Pro Forma Consolidated Balance Sheet as of Closing: c. € 1,200 m(1,2,3) 287 Other Liabilities(5) Goodwill(4) 571 Non-Strategic Assets 215 Financing (Non-Recourse)(5) 62 RCF (Non-Recourse) Alignment Capital Investments 60 19 Ac
Slide 16: Outlook
3 Outlook Page 16 | CORESTATE Capital Holding S.A.
Slide 17: Strategy Outlook
Strategy Outlook CORESTATE aims to become the leading European real estate investment manager Product Introduction of additional mid- and long-term investment products tailored towards Offering our expanding institutional and retail client base CORESTATE’s scalable business platform is well-posi
Slide 18: Confirmation of the 2017 Management Guidance
Confirmation of the 2017 Management Guidance Aggregate Revenues Adj. EBITDA Adj. Net Income € million € million € million 170-180(2) 85-90(1,2) 115-120(1,2) 80-82 36-37(1) 42-43(1) 2017E 2017E 2017E 2017E 2017E 2017E Latest Guidance Latest Guidance Latest Guidance Latest Guidance Latest Guidance Lat
Slide 19: Appendix
4 Appendix Page 19 | CORESTATE Capital Holding S.A.
Slide 20: Balance Sheet (1/2)
Balance Sheet (1/2) Assets Comments unaudited audited (k€) 30.06.2017 31.12.2016 • Net increase in Investment in Associates and Joint Ventures by 13.3% due to: Non-Current Assets • Project Highstreet: Real estate portfolio Property, Plant and Equipment 1,358 1,235 comprising retail properties in mid
Slide 21: Balance Sheet (2/2)
Balance Sheet (2/2) Liabilities & Equity Comments unaudited audited (k€) 30.06.2017 31.12.2016 • Issuance of 996,318 new shares (c.8% of share capital) Equity through placement by way of an accelerated book 1 building process in February 2017. Share count as of 30 1 Share Capital 1,021 946 June 2017
Slide 22: Income Statement
Income Statement Comments unaudited unaudited (k€) 01.01.2017– 01.01.2016– • Strong increase in acquisition related fees due to 30.06.2017 30.06.2016 successful placement of Highstreet retail as well as Revenue from Acquisition Related Fees 9,073 3,129 1 1 residential asset based investment products
Slide 23: Cash Flow Statement
Cash Flow Statement Comments unaudited unaudited (k€) 01.01.2017– 01.01.2016– • Issuance of 996,318 new shares (c.8% of share capital) 30.06.2017 30.06.2016 Earnings before Taxes (EBT) 20,275 4,759 1 through placement by way of an accelerated book building process in February 2017 Adjustments: Depre
Slide 24: Investor Contact
Investor Contact CORESTATE Capital Holding S.A. CORESTATE Capital Group 4, rue Jean Monnet | L-2180 Luxembourg corestate-capital.com IR Contact Alexander Groschke Phone: 0049 69 3535630106 Alexander.Groschke@corestate-capital.com Page 24 | CORESTATE Capital Holding S.A.
CORESTATE Capital Holding — H1 2017 Earnings Presentation on 6ix