Corestate Capital Holding Sa · XETR:CCAP

Corestate Capital Holding Sa — Q1 2018 Earnings Presentation

15 slides from Corestate Capital Holding Sa's earnings presentation, May 15, 2018

  1. Slide 1: CORESTATE Capital Q1-2018 Results

    CORESTATE Capital Q1-2018 Results Dr. Michael Bütter (CEO) – Lars Schnidrig (CFO) 15 May 2018

  2. 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

  3. Slide 3: Highlights

    Highlights Corporate Governance  Management Board realignment completed  Successful AGM and distribution of € 42m to shareholders (€ 2 per share) Operational Performance  Decent start in the year with promising Q1 results Corporate Structure  Rebranding ATOS, fully integrated in CORESTATE  Furt

  4. Slide 4: Development of Assets under Management

    Development of Assets under Management Increasing Real Estate AuMs Strong Sourcing Pipeline  Compensation of decrease in run-down portfolio  Slight seasonal impact from typical deal by strong organic growth in RE AuMs restraint in the first quarter € 21.9bn € 21.6bn Run-down € 4.8bn € -0.9bn decre

  5. Slide 5: Update on Mezzanine Financing of HFS

    Update on Mezzanine Financing of HFS Profile of HFS Funds end of March 2018  Total fund volume ~ € 1,2bn Retail  # of financed projects 58 Residential 16% 79%  Ø size of mezzanine financing € 15.4m Office  Since Q4-2017 share on German residential increased 5% Regional break down of current fina

  6. Slide 6: Examples of New Product Offerings

    Examples of New Product Offerings High Street VIII  Sizeable and well-diversified portfolio of prime retail properties throughout Germany Garbsen Rostock  5 retail assets in prime locations of mid-sized cities (112k sqm, 95% occupied, Ø-lease length 8.8Y)  Annual cash distribution of around c. 6.

  7. Slide 7: Fee & Earnings Performance Fully on Track

    Fee & Earnings Performance Fully on Track Q1-2018 Revenuee Stream in m€  Driven by favourable organic growth 18,2 Acquisition related fees (i.a. BVK/micro apartments transaction)  Stable fee income from and equity 14,2* 31,8 Asset & property mgt. and debt funds 0,3 Promote & sales fee  Will incre

  8. Slide 8: Financial Performance of First Quarter 2018

    Financial Performance of First Quarter 2018 Key P&L Figures Q1-2018 Also decent quarter in terms of in m€ expenses and earnings Aggr. Revenues 61.9 100%  Operational management expenses mainly Management expenses -17.3 27.9% fixed cost driven Alignm. Capital/Warehousing Exp. -2.9 4.7%  G&A incl. €

  9. Slide 9: Successful Debut Bond Issuance

    Successful Debut Bond Issuance Terms of Senior Unsecured Bond Placement as of March 2018  Issuance volume € 300m  Coupon 3.5%  Date of issuance 23 March 2018  Maturity April 2023  Rating BB+, Outlook “stable” (S&P)  First coupon date 15 October 2018 Rationale and Maturity Profile Potential  C

  10. Slide 10: Key Debt Figures and Leverage

    Key Debt Figures and Leverage Debt overview as of 31.03.2018 889 Stadttor Kronberg Danone  Leverage reduced to 3.3x (Q4-2017: 4.2x) mainly due to onward consolidation effects Bank 382 of strategic acquisitions & other 409 Warehousing assets in placement process debt  In H2-2018 planned deconsolida

  11. Slide 11: Outlook 2018

    Outlook 2018 More to come in 2018 on operations  Execution of deal pipeline and client growth − More new business projects at Hannover Leasing (Club Deals) − Expansion of student housing activities in Europe  Strengthen branches in London and Madrid  Ongoing structured market screening on M&A tar

  12. Slide 12: Appendix – Research and Shareholder Information

    Appendix – Research and Shareholder Information Average target price € 69.0 (100% Buy) +46% +41% +65% +54% +39% +41% Upside to price target (€ 46,65 share price €77 as of 11 May 2018) €68 €66 €72 €66 €65 Buy Hold Sell 15 Mar 2018 30 Apr 2018 9 May 2018 19 Mar 2018 13 Mar 2018 9 May 2018 Shareholder

  13. Slide 13: Appendix – Q1-2018 Profit & Loss Statement

    Appendix – Q1-2018 Profit & Loss Statement (€ m) Q1/2018 Q1/2017 Revenue from Acquisition Related Fees 18.2 1.3 Revenue from Asset and Property Management 31.8 6.1 Revenue from Promote and Sales Fees realized 0.3 - Revenue from Real Estate Investment Management 50.4 7.4 Management expenses (18.8) (7

  14. Slide 14: Appendix – Balance Sheet as of March 2018

    Appendix – Balance Sheet as of 31 March 2018 (€ m) 31.03.2018 31.12.2017 Non-Current Assets Goodwill 556.9 556.9 Intangible Assets 135.4 141 Investment in Associates and Joint Ventures 64.9 59.9 Total Non-Current Assets 921.3 915.8 Current Assets Inventories 252.9 268.3 Receivables 60.2 52.6 Cash an

  15. Slide 15: Financial Calendar 2018 Investor Contact

    Financial Calendar 2018 20 Feb 2018 Preliminary results of FY 2017 13 Mar 2018 Publication annual financial report 2017 27 Apr 2018 Annual General Meeting 15 May 2018 Publication Q1 financial report 14 Aug 2018 Publication H1 financial report 06 Sep 2018 Capital Markets Day 13 Nov 2018 Publication Q

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