Irish Residential Properties Reit Plc · EURONEXT:IRES
Irish Residential Properties Reit — FY2020 Earnings Presentation
21 slides from Irish Residential Properties Reit's earnings presentation, Feb 19, 2021
Slide 1: Irish Residential Properties REIT plc Preliminary Results
Irish Residential Properties REIT plc Preliminary Results 19 February 2021 0 Beechwood Court, Stillorgan, Co Dublin
Slide 2: Cautionary Statements
D I S C L AI M E R Cautionary Statements This presentation has been prepared by Irish Residential Properties REIT PLC (the “Company” or “I-RES”) for information purposes only. This presentation has been prepared in good faith but the information contained in it has not been independently verified an
Slide 3: Agenda
Agenda • Highlights • 2020 Financial Results • Portfolio Update • Market Update • ESG • Outlook 2 Phoenix Park Racecourse, Castleknock, Dublin 15
Slide 4: Highlights
IRISH RESIDENTIAL PROPERTIES REIT plc Highlights 3 Lansdowne Gate, Drimnagh, Dublin 12
Slide 5: Response to Covid-19 Pandemic
Response to Covid-19 Pandemic Our priority has always been ensuring the health and wellbeing of our employees, residents, partners and suppliers People Our Residents • ‘Working from home' for staff other than • Active program of communications and frontline site-staff engagement • Transitioned effic
Slide 6: 2020 Year End Highlights
2020 Year End Highlights EPRA Basic NAV Net Rental Occupancy Interim & Income Earnings Additional DPS 160.3c €59.8m €34.0m 98.4% 5.97 +3.2% +18.3% +10bps +2.7% +3.0% Resilient Operating Robust Balance Sheet Disciplined Capital Allocation Driving Sustainable Business Performance 31 December 2020 Supp
Slide 7: Execution on Growth Strategy
Execution on Growth Strategy Investment Activity Continued through 2020 95 5 151 146 55 18 # Units 3,834 3,739 3,688 3,666 FY 2019 Waterside FY 2020 Hansfield Phoenix Tallaght Cross Jan-21 conversion Priorsgate Disposal Wood II West Current Portfolio (Jan 2021) 3,834 Under construction (Bakers Yard)
Slide 8: 2020 Financial Results
IRISH RESIDENTIAL PROPERTIES REIT plc 2020 Financial Results 7 Tyrone Court, Inchicore, Dublin 8
Slide 9: Financial Results Year End 2020
Financial Results Year End 2020 Resilient Operating Performance Commentary Income Statement (€m) FY20 FY19 Change • Strong NRI growth of c.18.3% driven by acquisitions over the Revenue from Investment Properties 74.7 62.1 +20.4% last 12 months Net Rental Income 59.8 50.5 18.3% • NRI margin strong at
Slide 10: Financial Results Year End 2020
Financial Results Year End 2020 Strong balance sheet and liquidity (31 December 202.) Commentary Strong Balance Sheet FY20 FY19 Change • Portfolio value +1.6% to €1,380m due to € 45.5m of Total Property Value €1,380.4m €1,359.2m +1.6% acquisitions and developments and capex, revaluation gain of €19.
Slide 11: Portfolio Update
IRISH RESIDENTIAL PROPERTIES REIT plc Portfolio Update 10 Beacon South Quarter, Sandyford, Dublin 18
Slide 12: Strong Execution on a Sustainable Growth Strategy
Strong Execution on a Sustainable Growth Strategy Future Pipeline 50% Portfolio Growth over last 3 years Pre-purchase Transactions Merrion Road 69 Under construction by IRES # Units Bakers Yard 61 Planning Permission Granted Priorsgate (Bruce House) 31 Beacon Sq South (B4) 84 Rockbrook 428 Total 543
Slide 13: Modern and Resilient Asset Base Supporting Strong Performance
Modern and Resilient Asset Base Supporting Strong Performance Distribution by Split Distribution by Properties by Distribution by of Bedrooms1 Average Monthly Rent1 Location1 Age (Years)1 14% 8% 25% 1% 29% 3% 1% 2% 1% 2%7% 36% 35% 29% 40% 5% 8% 23% 6% 3% 11% 56% 40% 5% 14% 45% 11% 24% 30% 57% 23% 62
Slide 14: Market Update
IRISH RESIDENTIAL PROPERTIES REIT plc Market Update 13 Elmpark Green, Merrion Road, Dublin 4
Slide 15: Demand and Supply Drivers Underpinning Investment Case
Demand and Supply Drivers Underpinning Investment Case Composition of Annual Demand1 Irish Population growth forecast1 40 6,000 30 5 5 5,500 11 5 Units (000s) 11 5,000 20 (000s) 11 4,500 10 18 17 11 4,000 0 2020-2029 2030-2039 2040-2051 3,500 19962000 2005 2010 2015 2020 2025 2030 2035 Natural incre
Slide 16: Economic outlook
Economic outlook Irish ‘Covid-19 adjusted’ unemployment rate 25% in Feb 2021 vs 30% peak in April 20201 Economic Indicators1 35% 700 30% 600 2019 2020 2021f 2022f 25% 500 20% 400 GDP1 5.6% 2.5% 3.8% 4.6% 15% 300 10% 200 Modified Domestic Demand 3.3% -7.1% 2.9% 3.6% 5% 100 0% 0 Feb Mar Apr May Jun Ju
Slide 17: ESG
IRISH RESIDENTIAL PROPERTIES REIT plc ESG 16 South Central, Rockbrook, Sandyford, Dublin 18
Slide 18: ESG is Central to I-RES' Strategy
ESG is Central to I-RES’ Strategy Environment Social Governance • Car parking spaces and 55 units made available, to Formalisation of the ESG Steering Committee and Switched all directly managed electricity contracts frontline health workers in support of COVID-19 the Green Ambassadors for commo
Slide 19: Outlook
IRISH RESIDENTIAL PROPERTIES REIT plc Outlook 18
Slide 20: Conclusion and Outlook
Conclusion and Outlook Irish Multifamily Sector remains attractive… …though risks exist in the near term Favourable population demographics and trend towards Economic uncertainty due to Covd-19 and continued high smaller households unemployment Structural housing supply / demand imbalance Cu
Slide 21: Thank you for your time
Better living made simple Thank you for your time For more information please visit https://investorrelations.iresreit.ie/ 20
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