Corestate Capital Holding Sa · XETR:CCAP
Corestate Capital Holding Sa — 9M 2020 Earnings Presentation
11 slides from Corestate Capital Holding Sa's earnings presentation, Nov 11, 2020
Slide 1: 9M-2020 Results
9M-2020 Results Presentation – Conference Call for Analysts & Investors, 11 November 2020 Lars Schnidrig, CEO & Dr. Kai Klinger, CMO
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements that are Glossary subject to various risks and uncertainties. Such statements are based € = Euro on a number of assumptions, estimates, projections or $ = (US)Dollar plans that are inherently subject to significant risks, as well as %
Slide 3: Highlights of Q3-2020
Highlights of Q3-2020 Operations Recovering Based on an Improved Transaction Environment ▪ Deal appetite focusing on lower risk/return profiles – market uncertainty and investment pressure aspiring to new equilibriums ▪ Organic growth in Q3 of +1.2% is mainly backed by Core/Core+ transactions ▪ € 30
Slide 4: Management Board Strengthened & New CEO
Management Board Strengthened & New CEO Enlargement of Management Board to Four Members Klaus Schmitt (aged 55) will join the Management Board as new CEO on 1 January 2021 for an initial term of three years − More than 25 years of experience in real estate industry, 14 years as Member of the Managem
Slide 5: Assets under Management on Record High
Assets under Management on Record High Assets under Management Sourcing pipeline ▪ +4.1% net organic growth in RE AuM in 2020 so far ▪ Deal pipeline impacted by COVID-19 ▪ Planned decrease in non-Real Estate AuM of ▪ Typical seasonality in RE with strong € 0.3bn since 2019 focus on Q4 is considerabl
Slide 6: Real Estate Debt with Robust Performance
Real Estate Debt with Robust Performance Uses of Mezzanine Funds at the End of Sept 2020 ▪ Total committed fund volume: c € 1.3bn Retail Residential ▪ # of financed projects: 57 68% 16% ▪ Ø size of mezzanine financing: c € 23m 57 projects ▪ Pipeline of potential financings on record high Office 16%
Slide 7: COVID-19 Leads to Significant Shifts in Fee Pattern
COVID-19 Leads to Significant Shifts in Fee Pattern 9M-2020 Revenue Split-Up in m€ (9M-2019) 23.3 (24.0) Acquisition rel. fees ▪ Gradual transaction market´s recovery 70.3 (64.7) Asset & property mgt. ▪ Continuous stable performance 35.5 (39.0) Coupon particip. fee ▪ HFS very solid also in the crisi
Slide 8: Changing Market Conditions Burdening Cost Structure
Changing Market Conditions Burdening Cost Structure Key P&L Figures 9M-2020 in m€ Aggr. revenues & gains 142.7 100% ▪ OpEx ratio (>50%) driven by inelasticity of Expenses from RE investment mgt. -64.7 45.3% cost base and declining revenues - especially in segments warehousing and Alignment capital e
Slide 9: Key Balance Sheet Figures
Key Balance Sheet Figures Debt Overview at the End of September 2020 in m€ ▪ Proceeds from capital increase and positive operational 597 1) 148 cash flow in Q3 lowered net debt position by € 81m Bank & other debt 107 to € 449m (incl. € 33m in warehousing ▪ Reiteration of net debt reduction plans deb
Slide 10: Outlook
Outlook Financial Guidance 2020 Confirmed Assumptions ▪ Transaction volume in 2020 approx. Aggr. Revenues EBITDA Adj. Net Profit € 1.5bn predominantly in Core/Core+ € 185-210m € 55-80m € 25-50m ▪ EBITDA burdened by € 5-10m one-off costs from efficiency program and ▪ Several transactions in advanced
Slide 11: IR Contact and Financial Calendar 2021
IR Contact and Financial Calendar 2021 Investor Contact Financial Calendar 2021 Dr. Kai G. Klinger 24 February Publication preliminary results for FY 2020 Chief Markets Officer Phone: +49 69 3535630-106 24 March Annual financial report 2020 ir@corestate-capital.com 28 April Annual General Meeting 19
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