Castellana Properties Socimi Sa · BME:YCPS
Castellana Properties Socimi Sa — FY2024 Earnings Presentation
30 slides from Castellana Properties Socimi Sa's earnings presentation, May 22, 2024
Slide 1: FY24 Financial Results Presentation
FY24 April 2023 - March 2024 Financial Results Presentation
Slide 2: Key Highlights
1 KEY HIGHLIGHTS 1.1 Highlights 1.2 Main KPIs performance FY24
Slide 3: 1.1 Highlights
FINANCIAL RESULTS PRESENTATION FY24 1.1 HIGHLIGHTS Operational Performance Financial Performance Value Operation Like-for-Like GRI growth of +8.9% and NOI LAR España dividend yield of c.15% on our Acquisition of former Hipercor site in El Faro growth of +11.0% compared to FY23 investment 28.7%
Slide 4: 1.2 Main KPIs Performance FY24
FINANCIAL RESULTS PRESENTATION FY24 1.2 MAIN KPIS PERFORMANCE FY24 16 373,815sqm 11% 98.9% 12.6 years 99.3% ASSETS GLA NOI LIKE-FOR-LIKE OCCUPANCY(i) WAULT RENT COLLECTION GROWTH Operational €70.5m €50.3m €466m 4.74% 38.8% GRI EPRA EARNINGS NET DEBT(ii) ALL-IN COST NET LTV(iii) ADJSUTED Financial 7.
Slide 5: Operational Highlights
2 OPERATIONAL HIGHLIGHTS 2.1 Footfall & Sales Index 2.2 Sales performance per tenant category 2.3 Investment in LAR España Real Estate
Slide 6: 2.1 Footfall and Sales Index
FINANCIAL RESULTS PRESENTATION FY24 2.1 FOOTFALL AND SALES INDEX FOOTFALL AND SALES ACHIEVE RECORD LEVELS AGAIN Footfall RECOVERY INDEX BASE 2019=100 With more than 45 million visits, our portfolio finally closed our FY24 (April’23-March’24) with a new record, surpassing the last achieved in 140%
Slide 7: 2.2 Sales Performance per Tenant Category
FINANCIAL RESULTS PRESENTATION FY24 2.2 SALES PERFORMANCE PER TENANT CATEGORY Third year of record sales growth since FY22 € MILLION 4.0% 6.1% 200 180 160 140 120 FY24 100 FY23 80 60 11.7% 10.1% 40 5.9% 8.6% 4.2% 20 9.2% 16.9% 3.6% 0 HOMEWARE FASHION HEALTH & FOOD & FOOD LEISURE & SPORTS & OTHER RET
Slide 8: 2.3 Investment in Lar España Real Estate
FINANCIAL RESULTS PRESENTATION FY24 2.3 INVESTMENT IN LAR ESPAÑA REAL ESTATE IN FY23 INVESTMENT DELIVERED C. 15% DIVIDEND YIELD ON OUR AVERAGE IN-PRICE IN FY24, CASTELLANA CONTINUED TO TAKE ADVANTAGE OF THE SIGNIFICANT DISCOUNT TO NTA REFLECTED IN LAR ESPAÑA’S SHARE PRICE, INCREASING ITS STAKE TO 28
Slide 9: FY24 Financial Results
3 FY24 FINANCIAL RESULTS 3.1 Group Funds From Operations (FFO) 3.2 Financial Debt position 3.3 GRI Bridge and breakdown 3.4 GAV Bridge and breakdown 3.5 EPRA BPR Metrics
Slide 10: 3.1 Group Funds From Operations (FFO)
FINANCIAL RESULTS PRESENTATION FY24 3.1 GROUP FUNDS FROM OPERATIONS (FFO) CASTELLANA PROPERTIES CONTINUES TO DELIVER MARKET- LEADING OPERATIONAL RESULTS € thousand FY23 FY24 Gross rental income (GRI) 64,710 70,456 NOI amounted €64.4 million for FY24. On a Like-for-Like basis and comparing with FY2
Slide 11: 3.2 Financial Debt Position
FINANCIAL RESULTS PRESENTATION FY24 3.2 FINANCIAL DEBT POSITION € million 31/03/2023 31/03/2024 € million Gross Asset Value (GAV)(i) 1,118 1,201 497.7 (4.0) 6.7 500.4 Gross Debt(ii) 498 500 Cash 31 35 Net Debt(ii)(iv) 467 465 Metrics Gross LTV(iii) 44.50% 41.68% Net LTV(iv) 41.73% 38.81% NOMINAL DEB
Slide 12: 3.3 GRI Bridge and Breakdown
FINANCIAL RESULTS PRESENTATION FY24 3.3 GRI BRIDGE AND BREAKDOWN GRI INCREASED TO OVER €70 MILLION LIKE-FOR-LIKE GROWTH OF 8.9% NOI LIKE-FOR-LIKE GROWTH OF 11% VERSUS FY23 SHOPPING CENTRES € million €55M 71% RETAIL PARKS €22M 29% LfL GROWTH 77 8.9% 64.7 5.8 70.5 GRI LIKE-FOR-LIKE GRI ANNUALISED FY23
Slide 13: 3.4 GAV Bridge and Breakdown
FINANCIAL RESULTS PRESENTATION FY24 3.4 GAV BRIDGE AND BREAKDOWN TOTAL GAV INCREASE 7.4% VERSUS MARCH 2023 STRONG NOI GROWTH AND ACTIVE ASSET MANAGEMENT, WERE KEY DRIVERS OF +1.4% GROWTH IN DIRECT PORTFOLIO VALUE DESPITE ANOTHER ROUND OF HIKES IN DISCOUNT RATES AND EXIT YIELDS € million Direct Portf
Slide 14: 3.5 EPRA BPR Metrics
FINANCIAL RESULTS PRESENTATION FY24 3.5 EPRA BPR METRICS 2019 2020 2021 2022 2023 €687m €50.3m 6.58% 2.16% EPRA NTA EPRA Earnings EPRA NIY EPRA adjusted Vacancy rate €6.80 €0.50 6.94% 19.98% EPRA NTA EPRA EPRA EPRA per share Earnings per share “topped-up” NIY Cost ratio(i) adjusted i. Ratio calculat
Slide 15: Value Creation
4 VALUE CREATION 4.1 Operating metrics & Leasing Activity 4.2 Value Added Project - El Faro Hipercor 4.3 Value Added Project - Vallsur Repositioning 4.4 Customer centricity 4.5 Digital Path 4.6 ESG
Slide 16: 4.1 Operating Metrics & Leasing Activity
FINANCIAL RESULTS PRESENTATION FY24 4.1 OPERATING METRICS & LEASING ACTIVITY HIGHEST OCCUPANCY AND COLLECTION RATE IN THE MARKET Key KPI’S March 2024 182 €9.1m OCCUPANCY(iii) LEASES SIGNED NEW RENT SIGNED 31 MARCH 2024 98.9% 71 111 €4.1m €5.0m 31 MARCH RENEWALS NEW CONTRACTS RENEWALS NEW CONTRACTS 2
Slide 17: 4.2 Value Added Project - El Faro Hipercor
FINANCIAL RESULTS PRESENTATION FY24 4.2 VALUE ADDED PROJECT - EL FARO HIPERCOR HIGHLYACCRETIVE PROJECTREINFORCING ITS REGIONAL DOMINANCE €2.5m ADDITIONAL NOI GENERATED €22.3m CAPEX 17 800m2 GLA AFFECTED START CURRENT MAY 2024 JULY 2024 END OF 2024 WORKS LICENCE WORKS LICENCE HANDOVER OF UNITS TO OPE
Slide 18: 4.3 Value Added Project - Vallsur Repositioning
FINANCIAL RESULTS PRESENTATION FY24 4.3 VALUE ADDED PROJECT - VALLSUR REPOSITIONING RE-ENVISIONING THE FIRST FLOOR TO POSITION VALLSUR AS THE MAIN F&B AND LEISURE DESTINATION IN THE REGION €16.7m CAPEX INVESTMENT €1.0m ADDITIONAL NOI GENERATED 10,557sqm GLA AFFECTED START H1 2023 NOV 2023 DEC 2023 Q
Slide 19: 4.3 Vallsur Repositioning Performance
FINANCIAL RESULTS PRESENTATION FY24 4.3 VALUE ADDED PROJECT - VALLSUR REPOSITIONING TRANSFORMATIVEPROJECT EXCEEDING INITIAL EXPECTATIONS, POSITIONING VALLSUR AS AN F&B AND LEISURE REFERENCE IN TOWN Impressive performanceof La Chismería after three months of its opening last December. The new food
Slide 20: 4.2 Value Added Project - Los Arcos Phase II Office Building
FINANCIAL RESULTS PRESENTATION FY24 4.2 VALUE ADDED PROJECT – LOS ARCOS PHASE II OFFICE BUILDING RESTORATION AND REINFORCEMENT PROJECT TO MAINTAIN AND IMPROVE THE PRIVILEGED LOCATION OF THE SHOPPING CENTRE CURRENT AFTER €23.8m CAPEX INVESTMENT €1.3m ADDITIONAL NOI GENERATED 5,845sqm GLA AFFECTED Wor
Slide 21: 4.4 Customer Centricity
FINANCIAL RESULTS PRESENTATION FY24 4.4 CUSTOMER CENTRICITY Consistently bringing new events and experiences to our shopping centers, continuously improving footfall and dwell time Different shows, games and parades full of history, magic and fun toured 8.5/10 81.7% A unique exhibition in the world,
Slide 22: 4.5 Digital Path
FINANCIAL RESULTS PRESENTATION FY24 4.5 DIGITAL PATH STRENGTHENING THE PORTFOLIO WITH A POWERFUL AND UNIFIED DIGITAL CUSTOMER JOURNEY OUR APPS NOW: pioneers in the sector. The tool is 100% designed for REWARDS PROGRAM: with unique functionalities such as saving purchase the user, focused on the loya
Slide 23: 4.6 ESG Road Map
FINANCIAL RESULTS PRESENTATION FY24 4.6 ESG CASTELLANA SUCCESSFULLY CONTINUES WITH ITS ESG ROAD MAP At Corporate Level At Asset Level EPRA sBPR 100% OF CASTELLANA PROPERTIES PORTFOLIO IS CURRENTLY Castellana Properties obtained the top award (Gold) for the second CERTIFIED. Shopping Centers certific
Slide 24: 4.6 ESG - Investing in Our Communities
FINANCIAL RESULTS PRESENTATION FY24 4.6 ESG - INVESTING IN OUR COMMUNITIES ADDING VALUE TO OUR COMMUNITIES, AT THE SAME TIME WE IMPROVE FOOTFALL AND SALES Castellana Properties continues to build on its pledge to spotlight social issues through innovative initiatives, creating new spaces of interact
Slide 25: Appendix
5 APENDIX 5.1 Portfolio 5.2 Top Assets Overview 5.3 ESG Strategic plan 5.4 ESG Assessment Landscape
Slide 26: 5.1 Portfolio
FINANCIAL RESULTS PRESENTATION FY24 5.1 PORTFOLIO Andalucía 6 activos Asturias 1 activo Castilla y León 1 activo C. Valenciana 2 activos Extremadura 4 activos Madrid 1 activo Murcia 1 activo 19
Slide 27: 5.2 Top Assets Overview
FINANCIAL RESULTS PRESENTATION FY24 5.2 TOP ASSETS OVERVIEW EL FARO BAHÍA SUR LOS ARCOS GRANAITA HABANERAS PUERTA EUROPA VALLSUR PARQUE OESTE PROVINCE BADAJOZ SAN FERNANDO SEVILLA GRANADA TORREVIEJA ALGECIRAS VALLADOLID MADRID AREA 62,160 sqm 35,420 sqm 26,774 sqm 55,588 sqm 24,892 sqm 29,783 sqm 35
Slide 28: 5.3 ESG Assessment Landscape
FINANCIAL RESULTS PRESENTATION FY24 5.3 ESG ASSESMENT LANDSCAPE ESG European Sustainability Reporting Standards ENVIRONMENTAL SOCIAL GOVERNANCE CORPORATE LEVEL ASSET LEVEL 21
Slide 29: Disclaimer
FINANCIAL RESULTS PRESENTATION FY24 DISCLAIMER PURPOSE OF THIS PRESENTATION AND LIABILITY ACCOUNTING STANDARDS APPLIED This document has been prepared by Castellana Properties SOCIMI, S.A. ("Castellana Properties") This document and the information presented herein was prepared by Castellana Propert
Slide 30: Rubén Darío, 3 28010 Madrid castellanaproperties.es
Rubén Darío, 3 28010 Madrid (+34) 91 426 86 86 castellanaproperties.es
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