Premia Real Estate Investment Company Societe Anomyme · ATHEX:PREMIA
Premia Real Estate Investment Company Societe Anomyme — Premia Real Estate Investment Company — Investor Presentation (October 2022)
36 slides from Premia Real Estate Investment Company Societe Anomyme's investor presentation, October 2022
Slide 1: Investor presentation October 2022
Investor presentation| October 2022
Slide 2: Presentation team
Presentation team Kostas Markazos Pantelis Voutirakis Nikolaos Baziotis Financial Planning Manager CEO CFO/CIO 2
Slide 3: PREMIA at a glance
PREMIA at a glance ▪ Founded in 1991 and listed on Athens Stock Exchange since 2008 ▪ Property investment and management company ▪ REIC status obtained in April 2022 ▪ Primarily active in logistics, big-boxes, serviced-residential and social real estate 30 288,950 sqm €217.4 m €313.2 m Gross bulding
Slide 4: Fast-growing and dynamic company
Fast-growing and dynamic company 304.8 76.3 Cash 228.2 29.3 228.5 Investments * 198.9 110.6 106.3 31.5 in € mn 31.1 December 2019 December 2020 December 2021 June 2022 August 2019 July 2020 December 2020 June 2021 December 2021 January 2022 June 2022 Entry into the 1st Share Capital 2nd Share Capita
Slide 5: Listed company with strong shareholders, trading in line with European REITs
Listed company with strong shareholders, trading in line with European REITs Shareholding structure Share price vs indices Share data 400% 600,000 Share capital € 43,563,581.00 350% Fastighets AB 500,000 Shares outstanding 87,127,162 Balder Sterner Stenhus 300% 17.2% Type of share Common registered
Slide 6: Public bond issued in January 2022 secured significant funds at attractive terms
Public bond issued in January 2022 secured significant funds at attractive terms Bond price evolution vs Greek corporate bonds Key bond terms * Investor relations activities 100 1400 Bonds outstanding 100,000 Premia is proactively approaching existing and Type Unsecured, bullet at maturity public bo
Slide 7: Clear strategy & vision to reach €1bn GAV in 5 years
Clear strategy & vision to reach € 1bn GAV in 5 years Growth strategy Asset management Financing Acquiring well, targeting properties with solid Creating value through a well-curated and actively Effective capital raising through equity/debt capital fundamentals and attractive yields managed portfol
Slide 8: Important transactions completed in the last 12 months
Important transactions completed in the last 12 months Serviced Apartments Student Residences School Piraeus-Athens Athens, Thessaloniki, Patras Marousi-Athens Transaction completed in December 2021 Transactions completed by July Transaction completed in May 2022 2022 Leased to Teleperformance and G
Slide 9: New projects in progress & access to a significant pool of opportunities
New projects in progress & access to a significant pool of opportunities A c. € 150m identified pipeline currently at various maturity phases, Partial development of one of PREMIA’s assets mainly sourced off-market Acquisition of the real estate assets of one of the leading wineries in Greece and le
Slide 10: Greek economy on the recovery path despite challenges
Greek economy on the recovery path despite challenges Real GDP growth (%) Unemployment rate 8.3% Greece EU average 21.7% 5.4% 19.6% 4.6% 17.6% 17.0% 3.0% 3.0% 2.2% 2.1% 2.2% 2.2% 14.9% 1.7% 1.8% 2.0% 2.1% 1.8% 1.1% 1.1% 12.6% 12.2% 11.4% 11.0% -5.8% -9.0% 2017 2018 2019 2020 2021 2022 2023 2024 2025
Slide 11: Favorable Greek real estate market fundamentals
Favorable Greek real estate market fundamentals Despite the apparent yield compression in the past 10 years, the spread vs European prime yields, both in logistics and office markets, remains attractive. Transaction volumes continue a recovery trend in H1 2022, following the pandemic disruption of 2
Slide 12: Key investment highlights
Key investment highlights 1 Public company with strong key shareholders bringing know-how and experience from the Swedish and European real estate markets Differentiated proposition vs other Greek REICs, with a clear strategy and a proven track record in delivering growth through effective 2 deal so
Slide 13: High-quality asset portfolio with strong KPIs, currently focusing on logistics
High-quality asset portfolio with strong KPIs, currently focusing on logistics #9 Logistics 3 1 Thessaloniki #3 Katerini 7.2% Big-box retail Gross rental yield* #3 1 Chalkida 6.9 years Serviced apartments WALT* 24 (weighted average lease term) Athens 1 #11 100% Schools Kalamata Occupancy* (10 under
Slide 14: 16 yielding properties with 100% occupancy, long term contracts & diversified tenant mix
16 yielding properties with 100% occupancy, long term contracts & diversified tenant mix Income producing properties by sector GAV Revenue # of properties 12% 8% 1 11% 10% 3 7% 6% 9 72% 3 74% Rental Income expiring (as % of annualized rent2) Creditworthy tenants (as % of annualized rent2) 65% High q
Slide 15: 4 properties with development potential
4 properties with development potential Elaionas - Votanikos Nea Lampsakos-Chalkida Acquisition date: 2007 Acquisition date: 2008 Plot area: 10,799 sqm Total surface: 81,362 sqm GBA: 10,857 sqm Potential use: Initial lease as warehouse. Its exploitation will be re-evaluated in line Potential use: Co
Slide 16: 10 state-of-the-art schools under management through a PPP agreement
10 state-of-the-art schools under management through a PPP agreement A unique exposure to social real estate through a Public Private Partnership (PPP) agreement with KTYP c.20 yrs 10 Assets 35.9k sqm GBA remaining duration Selected Schools €39.2 m Partnership Right (PPP Financial Asset, as per FS 3
Slide 17: Robust financials (H1 2022 snapshot)
Robust financials (H1 2022 snapshot) Strong asset base & healthy capital structure Capital discipline & conservative debt profile Top-line growth & increased profitability Total investments (investments + cash) Gross debt / Net debt Total revenue € 304.8m € 171.3 m / € 95.0 m €6.6 m June 2022 (+€ 76
Slide 18: Active management of the capital structure maintaining a conservative debt profile
Active management of the capital structure maintaining a conservative debt profile Balance sheet management Leverage (as of 30.6.2022) Debt profile (as of 30.6.2022) Lease obligations, 3% ▪ €100m public bond issued in January 2022 41.6% ▪ Significant cash position (€ 76.3m as of 30.6.2022) Bank debt
Slide 19: Strong & consistently improving financial performance
Strong & consistently improving financial performance Revenue Adjusted EBITDA* € mn € mn +459% +697% yoy 9.5 3.7 yoy +206% yoy 3.0 +93% yoy 6.6 3.4 1.0 1.7 0.5 FY 2020 FY 2021 H1 2021 H1 2022 FY 2020 FY 2021 H1 2021 H1 2022 FFO* NAV € mn € mn +87% vs 133.3 +188% prev. 125.9 2.1 yoy semester 1.6 +78%
Slide 20: Revenue capacity from the existing investment portfolio
Revenue capacity from the existing investment portfolio PREMIA’s H1 2022 income does not reflect the full annual revenue potential of its existing investment portfolio PREMIA’s revenue capacity from the existing investment portfolio (as of 2.4 14.3 30.6.2022) is based on: ▪ Rental income from the ex
Slide 21: Commitment to best-in-class corporate governance practices
Commitment to best-in-class corporate governance practices BoD Management Organizational chart ▪ 3 Executive Members ▪ Executive BoD members and C-level executives GeneralBoD Assembly ▪ 5 Non-Executive Members (including 3 with extensive professional experience Independent Non-Executive Members supp
Slide 22: Embedding sustainability initiatives in everything we do
Embedding sustainability initiatives in everything we do PREMIA aspires to be among the Sustainability leaders in Greece. Being a listed REIC, we are committed to the sustainability journey, as an employer, a business partner, a community and an environmental member creating value for our shareholde
Slide 23: Solid foundations to deliver long-term performance
Solid foundations to deliver long-term performance Experienced management Strong shareholder base team & solid corporate governance Investment portfolio Clear investment strategy Robust financials and healthy & proven track record in with sound capital structure delivering growth fundamentals 23
Slide 24: Appendix
Appendix PREMIA
Slide 25: Greek REIC framework main characteristics
Greek REIC framework main characteristics Société Anonyme REIC REIC main characteristics ▪ Société anonyme with min share capital of € 25mn Average property portfolio ▪ REIC license from the Hellenic Capital Markets Corporate tax 22% on taxable profit value plus liquid assets taxed Commission at 10%
Slide 26: Income producing properties in the existing portfolio (1/4)
Income producing properties in the existing portfolio (1/4) Aspropirgos “Kyrillos” Mandra, “Xiropigado/Kapsala” Acquisition date: 2020 Acquisition date: 2021 GBA: 53,781 sqm (5 independent GBA: 15,664 sqm buildings) GAV: €34.7 mn GAV: €7.1 mn Logistics Centre Tenants: Logistics Centre Tenant: Elefsi
Slide 27: Income producing properties in the existing portfolio (2/4)
Income producing properties in the existing portfolio (2/4) Thessaloniki Elefsina, “Stryfi” Acquisition date: 2021 Acquisition date: 2021 GBA: 24,703 sqm GBA: 10,149 sqm GAV: €15.6 mn GAV: €7.5 mn Logistics Centre Tenant: Logistics Centre Tenant: Aspropirgos, “Lakka” Aspropirgos, “Rykia” Acquisition
Slide 28: Income producing properties in the existing portfolio (3/4)
Income producing properties in the existing portfolio (3/4) Aspropirgos “Psari” Katerini Acquisition date: 2020 Acquisition date: 2021 GBA: 4,795 sqm GBA: 1,485 sqm GAV: €5.4 mn GAV: €2.3 mn Logistics Centre Tenant: Big-box Tenant: Kalamata Paiania-Athens Acquisition date: 2021 Acquisition date: 202
Slide 29: Income producing properties in the existing portfolio (4/4)
Income producing properties in the existing portfolio (4/4) Ag. Dionisios - Piraeus Thessaloniki Acquisition date: 2021 Acquisition date: 2022 GBA: 3,598 sqm GBA: 4,666 sqm GAV: €11.2 mn GAV: €4.9 mn Serviced Apartments Tenant: Student residence Tenant: Kipseli, Athens Marousi, Athens Acquisition da
Slide 30: Consolidated statement of financial position - IFRS
Consolidated statement of financial position - IFRS Consolidated SOFP amounts in € FY 2020 FY 2021 H1 2022 Assets Investment property 65,920,000 146,776,000 178,626,000 Advances related to investment property 0 12,934,390 11,274,323 Service Concession (IFRS 12) 34,304,655 32,961,005 32,352,662 Goodw
Slide 31: Consolidated income statement - IFRS
Consolidated income statement - IFRS Consolidated Income Statement amounts in € FY 2020 FY 2021 H1 2022 Total revenue 1,704,726 9,521,481 6,615,078 Direct Property expenses -237,856 -1,227,315 -1,035,893 PPP expenses -137,600 -2,237,944 -905,797 Personnel costs and expenses -339,953 -1,088,298 -779,
Slide 32: P/NAV – European REITs
P/NAV – European REITs Country P/NAV (30.9.2022) Premia Greece 0.72x Diversified REITs Hamborner Germany 0.59x Land Securities Group UK 0.48x Shaftesbury UK 0.54x Mobimo Holding Switzerland 0.78x Wihlborgs Fastigheter Sweden 0.42x Covivio France 0.44x Allreal Holding Switzerland 0.79x Intershop Hold
Slide 33: Active & very experienced Board
Active & very experienced Board Elias Georgiadis Frank Roseen Vasileios Andrikopoulos Panagiotis Vroustouris Rebecca Pitsika Dimitrios Tsiklos President Vice President - Non-Exec. Independent Non-Exec. Member Independent Non-Exec. Member Independent Non-Exec. Member Non-Exec. Member Member Professio
Slide 34: Highly skilled team with strong track record
Highly skilled team with strong track record Kostas Markazos Nikolaos Baziotis Konstantinos Pechlivanidis Georgios Bakos Kalliopi Kalogera CEO CFO / CIO Chief Property Investment COO / Asset Management Chief Legal Counsel Officer Director Professional Experience: Professional Experience: Professiona
Slide 35: Important Notice and Disclaimer of Liability
Important Notice and Disclaimer of Liability THIS DOCUMENT MAY ONLY BE USED IN CONJUNCTION WITH AND SUBJECT TO THE TERMS OF THIS NOTICE & DISCLAIMER OF LIABILITY THIS PRESENTATION DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER FOR SALE OR SOLICITATION OF ANY OFFER TO BUY OR SUBSCRIBE FOR ANY SECURITI
Slide 36: PREMIA Properties
PREMIA Properties
Premia Real Estate Investment Company — Investor Presentation (October 2022) on 6ix