Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España Real Estate SOCIMI — Investor Presentation (August 2020)
34 slides from Helios Re Socimi's investor presentation, August 2020
Slide 1: Corporate Presentation August 2020
Corporate Presentation _ August 2020 www.larespana.com
Slide 2: Index
August 2020 Corporate Presentation | The Spanish Retail Specialist Index 1. 2. 3. 4. COVID-19 Company Financial ESG Update Overview Results Summary
Slide 3: COVID-19 Update
Pe lar Real Estate laselg- Bd 01 COVID-19 UPDATE
Slide 4: Safety and winner asset model to overcome current situation
August 2020 Safety and winner asset model to overcome current situation DIFFERENTIATED AND DOMINANT ASSETS IN EACH LOCATION RETAIL MULTIPRODUCT • 14 dominant and prime assets in its catchment areas. 96% occupation. PLAYER • High exposure to food retailers: 22 retail units anchored by supermarkets. 2
Slide 5: Strong financial structure, transparency and governance
August 2020 Strong financial structure, transparency and governance DEBT AND LIQUIDITY FINANCIAL PRUDENCE • Net LTV: 41%. • Principle of austerity and adapted • Avg. cost of debt: 2.1%. expenditure to the new situation. • 84% fixed rate and no relevant maturities in the next 2 • Minimization of cost
Slide 6: Positive pickup in GLA opened and visitor numbers
August 2020 Positive pickup in GLA opened and visitor numbers GLA opened Footfall recovery 100% 98% 92% 95% 48% 32% 10% Jan Feb Mar Apr May Jun Jul 14 State of Alarm 21 Mar Jun 6
Slide 7: How are we taking care of our employees and customers?
August 2020 How are we taking care of our employees and customers? A really safe portfolio of assets Capacity control in real time using Shopper Trak technology. Constant cleaning and disinfection of common areas. Access lanes and queue management in stores to guarantee physical distance. Multiple d
Slide 8: Well positioned for the new times with new assets
August 2020 Well positioned for the new times with new assets Safe and integrated spaces SECTOR NEEDS LAR ESPAÑA’S OFFERING 1 Get clients to go to shopping centres Dominant and prime assets in each of its catchment areas 2 Assets that guarantee all health and hygiene safety measures and social dista
Slide 9: Company Overview
Pe lar Real Estate Lge Bd 02 COMPANY OVERVIEW
Slide 10: Lar España
August 2020 Lar España Real retail value First Spanish REIT to IPO on the Spanish Stock Exchange with an 15 +27.2% outstanding quality, dominant and 100% owned portfolio. Assets NOI vs H1 2019 Resilient operating Focused on creating both sustainable income and strong capital growth for shareholders.
Slide 11: Diversified, multiproduct and dominant portfolio
August 2020 Diversified, multiproduct and dominant portfolio To be the retail leaders in Spain Lagoh Gran Vía de Vigo Megapark 69,720 sqm Size: 41,453 m2 81,561 sqm Visits: 2.6 Mn1 Visits: 7.3 Mn Visits: 11.8 Mn Sales: €44.5 Mn1 Sales: €109.6 Mn Sales: €115 Mn Dominant SC Dominant SC Dominant SC RP
Slide 12: Company structure & shareholder overview
August 2020 Company structure & shareholder overview INDEPENDENT AND EXPERIENCED BOARD: SHAREHOLDER OVERVIEW 5 INDEPENDENT DIRECTORS (OUT OF 7) José Luis del Valle Roger Cooke Leticia Iglesias PIMCO Chairman and Independent Independent Independent Other investors 20.7% Director Director Director 50.
Slide 13: Retail leadership in Spain
August 2020 Retail leadership in Spain Lar España has consolidated its position among the top retail operators in Spain Main shopping centres and retail parks market players RETAIL LEADERS IN SPAIN Avg. GLA #1 IN SPAIN #1 IN SPAIN #1 IN SPAIN Owned GLA (est.) # Shopping Centres ownership per asset s
Slide 14: Strong management capacity
August 2020 Strong management capacity External manager: Grupo Lar, real estate reference with 50y track-record Family-owned Company +50Y of 1 experience 2 Strong Management Team Investment Management Agreement International Experience with Tier 1 3 New IMA signed in 2018 investors 4 Geographical Di
Slide 15: Spanish retail market
August 2020 Spanish retail market Differences vs UK/US OMNICHANNEL CHALLENGE DIFFERENT RETAIL MARKETS Vs. Retailers are having fewer stores but more spaced to provide customer experience but at the same time an online product RENTS COMMERCIAL DENSITY collection point. Rents in shopping centres and m
Slide 16: The results of our strategy
August 2020 The results of our strategy: A different company for a changing market STRONG BALANCE SHEET PREPARED FOR THESE TECHNOLOGICAL FOCUS ON FINAL ESG AS ANOTHER ESSENTIAL & OPERATING RESULTS NEW TIMES DEVELOPMENT CUSTOMER & RETAILERS BUSINESS METRIC Leaders in Spain with Assets c.100% owned, T
Slide 17: Investment highlights: Assets in Action
August 2020 Investment highlights “Assets in Action” ASSETS IN ACTION • Large areas to avoid crowding • Grupo Lar +50y track-record OPTIMAL 1 SAFE • • Technology to control flows Best practices in accessibility 1 MANAGEMENT • • Retail experience in past crisis Active management • Optimal mix of stor
Slide 18: Financial Results
03 FINANCIAL RESULTS Q1 2020 _
Slide 19: Operational results in H1 2020
August 2020 Operational results in H1 2020 +27.2% 1,506 NOI vs H1 2019 +60% +82% GAV2 €10.64 EBITDA Adj. EPRA Earnings p.s. EPRA NAV RESULTS +3.5% vs H1 2019 vs H1 2019 (2.9%) +3.7% p.s.3 LfL1 NOI vs H1 2019 vs Dec 2019 vs Jun 2019 Resilient operating +8% 95% performance Rent uplift Occupancy4 3.3 y
Slide 20: Corporate results in H1 2020
August 2020 Corporate results in H1 2020 3rd SBB Net LTV €55 Mn dividend 1 c.€140 Mn liquidity 41% Programme €0.63 p.s. Expenses covered CORPORATE maintained Avg. cost of debt Dividend paid over the next 4 years 5% share capital 2.1% 100% AENOR Univesal 100% 100% Recommendations of the Accesibility
Slide 21: Financial key figures
August 2020 Financial key figures delivered in H1 2020 15 €47.9 Mn +24.4% Assets GRI vs H1 2019 €1,506 Mn €37.2 Mn +60.5% €905.3 Mn €26.9 Mn GAV EBITDA vs H1 2019 EPRA NAV EPRA Earnings 578,460 €754.2 Mn 2.1% €10.64 €0.31 GLA sqm Financial debt Cost of Debt EPRA NAV per share1 EPRA Earnings per shar
Slide 22: Retail performance
August 2020 Retail performance delivered in H1 2020 Operating results Commercial activity +23.6% +27.2% +4.1% (15.1%) €2.7 Mn 10,758 sqm Minimum Non-recoverable GRI NOI Negotiated rent Rotated area guaranteed rent1 costs1 +1.1% +3.5% 95% 46 +8% LfL GRI1 LfL NOI1 % Occupancy2 Operations Rent uplift 1
Slide 23: Solid asset valuation with a minimum impact of COVID
August 2020 Solid asset valuation with a minimum impact of COVID Our assets make the difference in each of their locations H1 2020 Valuation ▪ A resilient portfolio of dominant shopping €1,506 Mn centres in attractive catchment areas ▪ Cherry-picked portfolio, assets carefully % Increase analysed an
Slide 24: Consolidated Income Statement (€ Millions)
August 2020 Consolidated Income Statement (€ Millions) Chg% H1 2020 H1 2019 Recurring H1 20/19 Recurring Non-Recurring Total Recurring Non-Recurring Total Rental Income 47.9 - 47.9 38.5 - 38.5 +24.4% Other Income 1.1 - 1.1 1.2 - 1.2 Personnel expenses (0.2) - (0.2) (0.2) - (0.2) Other expenses (10.9
Slide 25: Financial pillars and liquidity
August 2020 Financial pillars and liquidity No significant maturities in the next two years Expenses covered over Debt Structure and As at 30.06.2020 the next 4 years Amortization Profile € Mn € Mn Gross Net €140 Mn €614.2 Mn financial debt financial debt Senior Bank €754.2 Mn €620.9 Mn c.140 Secure
Slide 26: 2019 dividend paid on April 16th, 2020
August 2020 2019 dividend paid on April 16th, 2020 Following a detailed liquidity analysis +€5 Mn vs 2018 Among the leading Spanish listed +111% companies in terms of direct €0.63 ps 2 CAGR1 Cash dividend shareholder remuneration €0.54 ps €0.49 ps €55.0 Mn 2 €50.0 Mn 5.5% 8.9% €0.33 ps €45.0 Mn Divi
Slide 27: Resilient operating performance
August 2020 Resilient operating performance Fast recovery of footfall and sales since the reopening Sales1 Footfall Jun 2020 Jun 2020 Vs June 2019 Vs June 2019 +1.3% (3.5%) (8.9%) (8.1%) (36.9%)3 LfL2 Total LfL2 Total 1. Declared sales 2. Like for Like (excluding Lagoh and Ànec Blau shopping centres
Slide 28: ESG Summary
Pe lar Real Estate on action! 04 ESG SUMMARY
Slide 29: Lar España's approach to ESG
August 2020 Lar España´s approach to ESG E S G Environment Corporate Governance Lar España promotes Lar España’s portfolio Lar España continues Sustainability assets generate social to make great strides Creating shared certification measures. In impacts that transform forward in terms of value for
Slide 30: Environmental
August 2020 Environmental Responsible management Sustainable Management Energy 100% of shopping centres are BREEAM® certified, rated “good” or PV solar panels in retail assets. “very good” Home automation systems to maximise energy efficiency in residential properties. New developments are designed
Slide 31: Social
August 2020 Social Society-based initiatives in our communities AACESIBILITY SGS 100% AENOR 67% €834,000 Accessibility of SCs & RPs have Universal Accessibility of assets are in the COVID-19 protocol undergone process of obtaining invested diagnosis verification of certification in 13% of in improvi
Slide 32: Governance
August 2020 Governance Structure BoD Composition (7 members, 5 independent) Board & Committees General Shareholders Meeting Jose Luis del Valle Chairman Board of Directors Alec Emmott Leticia Iglesias 17 Meetings in 2019 Audit & Control Appointments & Remuneration Miguel Pereda Roger Maxwell Cooke C
Slide 33: Disclaimer
August 2020 DISCLAIMER This document has been prepared by Lar España Real Estate SOCIMI, S.A. (the “Company”) for information purposes only and it is not a regulated information or information which has been subject to prior registration with, or control by, the Spanish National Securities Market Co
Slide 34: Follow us
Follow us www.larespana.com info@laespana.com Lar España Real Estate SOCIMI Lar España App
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