Corestate Capital Holding Sa · XETR:CCAP
Corestate Capital Holding Sa — H1 2021 Earnings Presentation
17 slides from Corestate Capital Holding Sa's earnings presentation, Aug 11, 2021
Slide 1: Results H1-2021
Results H1-2021 Presentation – Conference Call for Analysts & Investors, 11 August 2021 René Parmantier, CEO | Udo Giegerich, CFO | 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 € = Euro; based 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 Q2-2021
Highlights of Q2-2021 General Operations Outlook Strong performance with Real Estate Debt Company very well dynamic revenue and ▪ Tailwind from CORESTATE on track to deliver earnings growth Bank and booming market on financial outlook in Q2 ▪ Well-filled pipeline for H2 2021 Real Estate Equity
Slide 4: AuMs – Stable with More Focus on Residential and City Quarters
AuMs – Stable with More Focus on Residential and City Quarters Assets under Management Sourcing Pipeline ▪ Slight reduction of RE AuMs to € 24.3bn mainly due to ▪ RE Debt with mezzanine financing pipeline termination of a large micro-living development projects of c € 500m (project volume > € 2bn) ▪
Slide 5: CORESTATE Bank – High Profitability in a Dynamic Environment
CORESTATE Bank – High Profitability in a Dynamic Environment A very ▪ Closing in May efficient deal ▪ Rebranding and integration completed Bank execution .. .. backed by a ▪ Private debt market shows strong fundamentals prosperous ▪ CORESTATE Bank hit the ground running: closing of environment .. re
Slide 6: RE Mezzanine – Strong First Half Driven by Unchanged Demand
RE Mezzanine – Strong First Half Driven by Unchanged Demand Uses of HFS/Mezz Funds at the End of H1-2021 ▪ Total fund volume: c € 1.3bn ▪ Focus on Germany´s large cities ▪ # of financed projects: 45 ▪ 26 different borrowers ▪ Ø size of mezzanine financing: c € 28m (largest single exposure ≤ 20%) ▪ c
Slide 7: New CFO Joined Realigned Management Board
New CFO Joined Realigned Management Board Udo Giegerich, CFO and Member of the Management Board since 1 August 2021 Responsibilities within CORESTATE ▪ IR, Accounting, Tax, Controlling, Treasury, Risk Management Long-standing Experience in Finance and IR ▪ Last position: EVP Group Finance & IR at Un
Slide 8: Income Lines Shows Strong Recovery from Pandemic
Income Lines Shows Strong Recovery from Pandemic Revenue Split-up for H1-2021 in m€ (H1-2020) RE Equity ▪ Steady business in Core/Core+ products with 7 (5) Acquisition & Sales Fees seasonal pick-up through the year ▪ Reduced fee income from micro-living 35 (37) Asset and Property Mgt Fees developmen
Slide 9: Profitability Partially Affected By Seasonality and Extraordinary Items
Profitability Partially Affected By Seasonality and Extraordinary Items Key P&L Figures H1-2021 in m€ H1-2021 H1-2020 Aggr. revenues 112.6 95.6 ▪ OpEx ratio of c 52% (€ 58.9m) driven by Expenses from RE Equity -46.8 -41.8 seasonality and underlying fix cost base as well as extraordinary transformati
Slide 10: Key Balance Sheet Figures
Key Balance Sheet Figures Debt Overview at the End of H1-2021 in m€ ▪ Strong focus on net debt reduction in H2 Bank & 620 63 − Q3-2021: > € 50m (repayments from Debt Reduction bridge lending, cash conversion) other debt 127 Sources (incl. € 58m in 557 − Q4-2021: > € 180m (deconsolidation of warehous
Slide 11: CORESTATE on Very Good Path to Deliver on Guidance
CORESTATE on Very Good Path to Deliver on Guidance Positive Outlook in H2-2021 ▪ Already vibrant signs of a recovering transaction market with catch-up effects ▪ Positive impact from advanced product range, pipeline and new sales set-up ▪ Continuously strong contribution of HFS and CORESTATE Bank Re
Slide 12: Appendix
Appendix Results H1-2021 Conference Call for Analysts & Investors, 11 August 2021 Presentation – Conference Call for Analysts & Investors, 11 August 2021
Slide 13: Products Examples
RE Debt Segment Covers the Entire Investment Life Cycle and Enables a Unique Eco System in Combination with the RE Equity Segment Integrated Value Chain Approach Secures Strong Synergies Between Products and Clients Acquisition (Plot/Project) Building Permission Pre/Forward Sale Completion/AM/PM & R
Slide 14: Profit & Loss Statement H1-2021
Profit & Loss Statement H1-2021 (€ m) H1 2021 H1 2020 Revenue from Acquisition Related Fees 4.7 5.6 Revenue from Asset Management Fees 18.5 22.1 Revenue from Property Management Fees 16.0 15.2 Revenue from Sales and Promote Fees realised 2.0 (0.2) Total Revenue from Real Estate Equity 41.2 42.8 Tota
Slide 15: Balance Sheet as of 30 June 2021
Balance Sheet as of 30 June 2021 (€ m) 30 June 2021 31 Dec 2020 Non-Current Assets Goodwill 642.9 577.7 Other Financial Instruments 159.1 153.9 Intangible Assets 154.5 87.8 Investment in Associates and Joint Ventures 123.2 120.8 Other Non-Current Assets 113.2 116.3 Total Non-Current Assets 1,192.9 1
Slide 16: Cash Flow Statement as of 30 June 2021
Cash Flow Statement as of 30 June 2021 (€ m) H1 2021 H1 2020 Depreciation/write-ups of non-current assets 17.1 16.3 Changes in receivables and other assets that are not attributable to (26.8) (17.4) investing activities Changes in liabilities that are not attributable to financing activities (13.8)
Slide 17: IR Contact and Financial Calendar
IR Contact and Financial Calendar 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 19 May Publication results for Q1 28 Ju
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