Ca Immobilien Anlagen Ag · VIE:CAI

Ca Immobilien Anlagen — Investor Presentation (September 2022)

55 slides from Ca Immobilien Anlagen's investor presentation, September 2022

  1. Slide 1: CA IMMO Company Presentation September 2022

    CA IMMO Company Presentation September 2022 All figures (€) as at 30 June 2022, unless otherwise stated

  2. Slide 2: We create and manage places where people love to work

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix We create and manage places where people love to work. Clear focus Commitment to sustainability Specialist in high-quality office In balance with environment, properties in Germany, Austria and CEE people a

  3. Slide 3: Value Creation is Based on Three Pillars

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Value Creation is Based on Three Pillars Entire Value Chain of Commercial Real Estate High Quality Sustainable Robust Real Estate Portfolio Development Pipeline Financial Position €5.6 bn €0.8 bn 48.3% Inve

  4. Slide 4: High-Quality Real Estate Portfolio

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix High-Quality Real Estate Portfolio First Class Office Infrastructure in Premium Locations ▪ Focus on tier-1 markets and “Future Office” Class A office portfolio diversified across attractive European gatewa

  5. Slide 5: Development Pipeline Drives Organic Growth

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Development Pipeline Drives Organic Growth Experienced In-house Capabilities and Valuable Land Reserves ▪ Continuous access to class A office buildings further strengthens portfolio quality ▪ Focus on Germa

  6. Slide 6: Robust Financial Position

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Robust Financial Position Solid Balance Sheet and Well-balanced Financing Structure ▪ Positive Rental Income and FFO I development amid strategic capital rotation program and profitable portfolio sales. ▪ S

  7. Slide 7: In a Nutshell: Four Reasons Why to Invest

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix In a Nutshell: Four Reasons Why to Invest We Focus on a Sustainable and Long-term Business Model ▪ We serve a high demand for first class office buildings in strategic tier-1 cities. ▪ We create value along

  8. Slide 8: H1 2022 Highlights

    H1 2022 HIGHLIGHTS CA IMMO URBAN BENCHMARKS;

  9. Slide 9: H1 22 at a Glance

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix H1 2022 AT A GLANCE Strong Operational Performance and Increased Business Resilience FFO I Rental EBITDA Portfolio Income quality further €73.9 m €121.1 m €93.2 m increased +7.9% yoy +1.0% yoy -18.9% yoy Re

  10. Slide 10: H1 22: Portfolio

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix H1 2022: PORTFOLIO Increased Business Resilience Driven By Higher Quality Portfolio ▪ Stable Rental Income and FFO I development amid strategic capital rotation programme and profitable portfolio sales. ▪ S

  11. Slide 11: H1 22: Development

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix H1 2022: DEVELOPMENT ONE Frankfurt Successfully Handed Over to First Tenants ▪ Successful handover to first tenants in high-quality development project ONE marking important milestone. ▪ Total investment vo

  12. Slide 12: H1 22: Financial Performance

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix H1 2022: FINANCIAL PERFORMANCE Value-Accretive Business Translates Into Strong Financial Performance Substantial NAV Uplift Driven By Organic Growth €m ▪ Strong NAV growth with CA Immo’s development 4,000 1

  13. Slide 13: H1 22: Financial Profile

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix H1 2022: FINANCIAL PROFILE High Balance Sheet Resilience Gross Asset Value Growth with Stable Equity Base €m ▪ Robust capital structure with strong equity 7,000 100% 90% base and defensive leverage. 6,000 8

  14. Slide 14: Outlook for 2022

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix OUTLOOK FOR 2022 Excellent Position Despite Challenging Environment ▪ CA Immo targets recurring earnings (FFO I) for 2022 of more than €125 m (2021: €128.3 m). ▪ The continued disposal of non-strategic prop

  15. Slide 15: H1 2022 Results

    NW NG as) “Steg wm WwW Ie

  16. Slide 16: H1 22 Results: Profit and Loss

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix H1 2022 Results Positive Development Despite Challenging Environment Profit and Loss (€m) H1 ’22 H1 ’21 +/(-) Q2 ’22 Q2 ’21 +/(-) Major Earnings Drivers H1 2022 1 Rental income 121.1 119.9 1.0% 58.9 56.3 4.

  17. Slide 17: Rental Income Slightly Up

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix H1 2022 Results Rental Income Slightly Up Key Drivers H1 2022 Rental Income Bridge (€m) ▪ Rental income growth driven by completion of project developments and the purchase of Kasernenstrasse 67 asset in Dü

  18. Slide 18: FFO Growth Despite Challenging Environment

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix H1 2022 Results FFO Growth Despite Challenging Environment Funds from Operations (€m) Major Drivers H1 ’22 H1 ’21 +/(-) Q2 ’22 Q2 ’21 +/(-) 1 Net rental income 102.9 101.6 1.3% 54.3 51.1 6.3% 1 Income from

  19. Slide 19: FFO Growth Representing Resilient Operational Business

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix H1 2022 Results FFO Growth Representing Resilient Operational Business H1 2022 FFO I Bridge (€m) 1 2 5 1 3 4 Key Drivers 1 Positive contribution by the acquisition of the Kasernenstraße property in Duesseld

  20. Slide 20: Balance Sheet as at June 30, 2022

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix H1 2022 Results Balance Sheet as at June 30, 2022 Balance Sheet (€m) H1 ’22 Q4 ’21 +/(-) Comments 1 Investment properties 5,601.6 4,984.3 12.4% 1 2 Properties under development 787.2 1,097.1 (28.3%) ▪ Mainl

  21. Slide 21: Balance Sheet Metrics as at June 30, 2022

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix H1 2022 Results Balance Sheet Metrics as at June 30, 2022 Balance Sheet (€m) H1 ’22 Q4 ’21 +/(-) Total assets 7,281.8 7,114.4 2.4% Property assets 6,495.3 6,254.2 3.9% Cash and cash equivalents 472.1 633.1

  22. Slide 22: EPRA Net Asset Value (NRV, NTA, NDV)

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix H1 2022 Results EPRA Net Asset Value (NRV, NTA, NDV) H1 ‘22 Q4 ‘21 (€m) EPRA NRV EPRA NTA EPRA NDV EPRA NRV EPRA NTA EPRA NDV IFRS Equity attributable to shareholders 3,516.1 3,516.1 3,516.1 3,290.9 3,290.9

  23. Slide 23: EPRA Net Asset Value (NDV, NTA, NRV)

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix H1 2022 Results EPRA Net Asset Value (NDV, NTA, NRV) H1 2022 EPRA NDV/NTA/NRV Bridge (€ per share) 3 2 1 EPRA Net Disposal Value: reflects a scenario where deferred tax, financial instruments, and certain o

  24. Slide 24: Key Metrics

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix H1 2022 Results Key Metrics Key Metrics (€m) H1 2022 H1 2021 +/(-) Rental income 121.1 119.9 1.0% Net rental income 102.9 101.6 1.3% EBITDA 93.2 114.9 (18.9%) EBIT 269.2 310.8 (13.4%) Earnings before tax (E

  25. Slide 25: Financing

    BENCHMARKS. URBAN — _a ma" \ | | ee (US ee oe == es ws

  26. Slide 26: Well-Balanced Maturity Profile and Diversified Debt Structure

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Financing Well-Balanced Maturity Profile and Diversified Debt Structure Debt Structure Debt Maturity Profile 1 (€m) 800 ▪ Follow-up financings have been secured for construction loans (secured debt developm

  27. Slide 27: Stable Debt Maturities and Record Low Financing Costs

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Financing Stable Debt Maturities and Record Low Financing Costs Key Financing Metrics 1 Average Debt Maturity (years) 1 ▪ Repayment of corporate bond in February 2022. 7.0 6.0 ▪ New sustainability-linked re

  28. Slide 28: Robust Financial Profile with Strong Equity Base

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Financing Robust Financial Profile with Strong Equity Base Leverage (%) Interest Coverage (x) 55% 6.0x 5.0x 50% 48.3% 3.9x 4.0x 4.1x 45% 3.0x 3.7x 41.6% 40% 2.0x 35% 1.0x 34.2% 30% 0.0x 2016 2017 2018 2019

  29. Slide 29: Portfolio

    PORTFOLIO

  30. Slide 30: Property Portfolio: Key Metrics

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Property Portfolio Key Metrics Property Portfolio Q2 ‘22 Q4 ‘21 +/(-) Gross Asset Value (GAV) €m 6,495.3 6,254.2 3.9% thereof Investment Properties 1 €m 5,619.6 4,995.5 12.5% thereof Active Development Proj

  31. Slide 31: Property Portfolio Overview

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Property Portfolio Overview Property Portfolio (GAV) by Region by City by Structure 1% 7% Berlin Investment 5% 9% 6% properties Munich 3% 8% 30% Frankfurt Germany Land 2 31% Warsaw reserves €6.5 bn CEE 7% €

  32. Slide 32: Investment Properties: KPI Overview (I)

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Investment Properties KPI Overview (I) Investment Properties (GAV) Over Time (€m) 6,000 5,620 4,996 5,000 4,729 4,299 4,000 3,703 3,760 3,271 3,000 2,000 1,000 0 2016 2017 2018 2019 2020 2021 Q2 2022 Invest

  33. Slide 33: Investment Properties: KPI Overview (II)

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Investment Properties KPI Overview (II) GLA Over Time (ksqm) Economic Occupancy Over Time (%) 1,600 100.0% 98.0% 96.1% 1,500 1,458 95.2% 94.8% 1,443 96.0% 94.4% 1,404 1,374 94.0% 92.3% 1,400 1,356 1,368 1,3

  34. Slide 34: Investment Properties: KPI Overview (III)

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Investment Properties KPI Overview (III) Gross Annualized Rent Over Time (€m) Gross Initial Yield Over Time (%) 250 241.5 7.0% 240.1 6.0% 6.1% 5.8% 226.4 225.7 6.0% 5.4% 223.7 5.1% 225 214.2 5.0% 4.6% 4.7%

  35. Slide 35: Tenant and Lease Structure

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Investment Properties Tenant and Lease Structure Weighted Average Unexpired Lease Term (years) Tenant Industry Mix (Annualized Rent) 14.0 12.7 Business & 12.0 9% Professional Services 10.0 1% Technology 27%

  36. Slide 36: Like-for-Like Performance

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Investment Properties Like-for-Like Performance Balance Sheet Value Annualized In Place GRI Yield Occupancy Market (€m) (€m) (%) 1 (%) 2 H1 ‘22 H1 ‘21 +/(-) H1 ‘22 H1 ‘21 +/(-) H1 ‘22 H1 ‘21 +/(-) H1 ‘22 H1

  37. Slide 37: Leasing H1 2022

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Property Portfolio Leasing H1 2022 Market Pre-leasing New Leasing Renewal (sqm) Total Leasing Annualized GRI Average Office + / (-) to ERV (sqm) (sqm) (sqm) (€m) Rent (€ psqm) (%) Austria - 3,537 6,295 9,83

  38. Slide 38: Capital Rotation

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Property Portfolio Capital Rotation Covid Transaction Activity (€m, #) 1 €m 1 3 3 1 3 1 1 Total Acquisitions: 300 Headline volume:  €850 m 200 # of properties: 14 Total GLA:  280,000 sqm 100 Total GRI: 

  39. Slide 39: Closed Disposals 2022 YTD

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Property Portfolio Closed Disposals 2022 YTD Property Sales CAI Country City Property Sector GLA GRI at Proceeds Premium / date Share Status (sqm) Sale (€m) Discount (%) (€m) to BV (%) 1 R70 Q1 ‘22 100% HU

  40. Slide 40: Selected Disposal Pipeline 2022

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Property Portfolio Selected Disposal Pipeline 2022 Romanian Portfolio Rennweg/Mechelgasse, Vienna Bodenseestr. / Gleisdreieck, Munich Country Romania Country Austria Country Germany Status Investment Status

  41. Slide 41: Development

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  42. Slide 42: Outstanding Market Position in Germany

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Development Outstanding market position in Germany Key facts Cube, Berlin Tower 185, Frankfurt ▪ CA Immo owns prime land reserves in sought-after locations primarily in Berlin, Frankfurt and Munich. ▪ Succe

  43. Slide 43: Commercial Value Chain

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Development Commercial Value Chain Zoning & Planning Under Construction Completion Millennium, Frankfurt Upbeat, Berlin Hochhaus am Europaplatz, Berlin MY.B, Berlin ▪ Potential mixed use (commercial/ Techni

  44. Slide 44: Development Projects Under Construction: Project Overview

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Development Projects Under Construction Project Overview For Own Portfolio CAI Investment Outstanding Planned Expected City Main Usage Pre-let Scheduled share Volume Investment Rentable Yield on Ratio GLA F

  45. Slide 45: Grasblau, Berlin

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Development Projects Under Construction Grasblau, Berlin Key Metrics Total investment volume €69.7 m Outstanding investment €21.5 m Rental area 13,350 sqm Expected yield on cost 8.0% Scheduled first tenant

  46. Slide 46: Hochhaus am Europaplatz, Berlin

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Development Projects Under Construction Hochhaus am Europaplatz, Berlin Key Metrics Total investment volume €140.6 m Outstanding investment €33.1 m Rental area 22,948 sqm Expected yield on cost 6.2% Schedul

  47. Slide 47: Upbeat, Berlin

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Development Projects Under Construction Upbeat, Berlin Key Metrics Total investment volume €328.1 m Outstanding investment €271.7 m Rental area 34,911 sqm Expected yield on cost 5.0% Scheduled first tenant

  48. Slide 48: Environmental, Social & Governance

    ENVIRONMENTAL, SOCIAL & GOVERNANCE

  49. Slide 49: 6 ESG Focus Areas

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Environmental, Social & Governance 6 ESG Focus Areas Reduction of energy consumption and carbon footprint throughout the building life cycle. Climate & Energy Resource Reduce resource consumption Creating a

  50. Slide 50: CO2 Reduction Target & Measures

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Environmental, Social & Governance CO2 Reduction Target & Measures Certified Assets (Book Value, €m) CO2 Reduction Target 4,500 3,964 ▪ Reduction of the average CO2 emission intensity (Scope 1+2) of the 4,0

  51. Slide 51: ESG Governance

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Environmental, Social & Governance ESG Governance Organizational Integration and Management ▪ Integration into the corporate ESG Committee of the Supervisory Board Semiannual strategy. Strategy, meetings ▪

  52. Slide 52: Appendix

    APPENDIX APPENDIX

  53. Slide 53: CA Immo Share and Shareholder Structure

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Capital Markets CA Immo Share and Shareholder Structure Share-related Key Figures Largest Shareholders (by Total Shares) 1 Largest shareholders (by Voting Rights) 1 30.06.2022 31.12.2021 # of shares 106,496

  54. Slide 54: Analyst Coverage & Conference Attendance

    Strategy / BM H1 2022 Highlights H1 2022 Results Financing Portfolio Development ESG Appendix Capital Markets Analyst Coverage & Conference Attendance Equity Analyst Coverage Analyst Date Target Price (€) Recommendation ▪ CA Immo was assessed by eight financial Wood & Company 08.08.2022 €41.00 Hold

  55. Slide 55: Capital Markets/Investor Relations Contact Details

    Capital Markets/Investor Relations Contact Details Christoph Thurnberger Julian Wöhrle Group Head of Capital Markets & Corporate Office Deputy Head of Capital Markets Co-Head of Corporate Development Committee Tel.: +43 (1) 532 59 07 504 Tel.: +43 (1) 532 59 07 654 E-Mail: christoph.thurnberger@caim

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