Castellana Properties Socimi Sa · BME:YCPS
Castellana Properties Socimi Sa — H1 FY2020 Earnings Presentation
26 slides from Castellana Properties Socimi Sa's earnings presentation, November 2019
Slide 1: H1FY20 Financial Results Presentation
H1FY20 April 2019 - September 2019 FINANCIAL RESULTS PRESENTATION
Slide 2: Contents
RESULTS PRESENTATION CONTENTS KEY HIGHLIGHTS Highlights 4 Timeline performance last 6 months 5 Main KPI’s performance 6 H1FY20 FINANCIAL RESULTS Consolidated income statement 8 Financial Debt position 9 GAV Bridge and breakdown 10 GRI Bridge and breakdown 11 BUSINESS PERFORMANCE & ACQUISITIONS Acqui
Slide 3: Key Highlights
KEY HIGHLIGHTS HIGHLIGHTS TIMELINE PERFORMANCE LAST 6 MONTHS MAIN KPI’S PERFORMANCE
Slide 4: Highlights
KEY HIGHLIGHTS / RESULTS PRESENTATION HIGHLIGHTS FINANCIAL PERFORMANCE GAV of €1,028 million as of 30/09/19 GRI of €28 million and NOI €26.9 million (NOI margin of 95%) EPRA NAV of €594 million or €6.89 per share (+3.14% in the last 6 months) Net LTV of 42.88% at an all-in cost of 2.46% and an avera
Slide 5: Timeline performance last 6 months
KEY HIGHLIGHTS / RESULTS PRESENTATION TIMELINE PERFORMANCE LAST 6 MONTHS Repositioning Projects starting in Los Arcos, Bahía Sur and El Faro SCs Acquisition of the units EPRA Silver Award 2019 in owned by El Corte Acquisition of Castellana´s first participation Inglés in Los Arcos and Acquisition of
Slide 6: Main KPI's performance
KEY HIGHLIGHTS / RESULTS PRESENTATION MAIN KPI’s PERFORMANCE 18 373,022 sqm 98.63 % 14.1 years OPERATIONAL ASSETS GLA OCCUPANCY WAULT €28m €24m €34m €441m 2.46 % 42.88 % FINANCIAL GRI(1) EBITDA(1) NET PROFIT(2) NET DEBT ALL-IN COST NET LTV (3) €1,028m €594m 6.89 €/share GAV EPRA NAV EPRA NAV CORPORA
Slide 7: H1FY20 Financial Results
H1FY20 FINANCIAL RESULTS CONSOLIDATED INCOME STATEMENT FINANCIAL DEBT POSITION GAV BRIDGE AND BREAKDOWN GRI BRIDGE AND BREAKDOWN
Slide 8: Consolidated income statement
H1FY20 FINANCIAL RESULTS / RESULTS PRESENTATION CONSOLIDATED INCOME STATEMENT € thousands H1FY20(1) H1FY19 FINANCIAL PERFORMANCE Gross rental income (GRI) 28,348 11,120 Property operating expenses (1,447) (489) Total recorded Group GRI, excluding income related to the portfolio operating expenses Ne
Slide 9: Financial debt position
H1FY20 FINANCIAL RESULTS / RESULTS PRESENTATION FINANCIAL DEBT POSITION € million 30/09/2019 31/03/2019 Two new loans signed for a total nominal debt Gross Asset Value (GAV) 1,028.40 916.47 drawdown of €41.5m (Liberbank + Banco Pichincha Gross Debt 493.83 450.35 €23m and Aareal €18.5m) during H1FY20
Slide 10: GAV bridge and breakdown
H1FY20 FINANCIAL RESULTS / RESULTS PRESENTATION GAV BRIDGE AND BREAKDOWN Strong portfolio revaluation of €7.5m in 6 months from 31th March 2019 (1) Portfolio Gross Asset Value over €1bn with acquisitions value of c. €100m during H1FY20 LfL Acquisitions GROWTH GROWTH +0.32% +9.77% €m 104.3 4.7 1,028.
Slide 11: GRI bridge and breakdown
H1FY20 FINANCIAL RESULTS / RESULTS PRESENTATION GRI BRIDGE AND BREAKDOWN Life-for-Like Growth of more than 13% for H1FY20 Potential Portfolio GRI Annualised over €65m SHOPPING CENTRES €52m 80% RETAIL PARKS €11.4m 17% OFFICES €1.9m 3% €m 65.3 SHOPPING CENTRES +8.4% LfL RETAIL PARKS +4.6% GROWTH OFFIC
Slide 12: Business Performance & Acquisitions
BUSINESS PERFORMANCE & ACQUISITIONS ACQUISITIONS SALES SHOPPING CENTRES FOOTFALL SHOPPING CENTRES LEASING ACTIVITY
Slide 13: Acquisitions
BUSINESS PERFORMANCE & ACQUISITIONS / RESULTS PRESENTATION ACQUISITIONS 1 2 3 PUERTA EUROPA SC - ALGECIRAS Units owned by El Corte Ingles in LOS ARCOS ACQUISITION DATE 31/07/2019 PINATAR PARK PHASE II - MURCIA and BAHIA SUR SC’s - SEVILLE & CADIZ PRICE (1) €56.8m ACQUISITION DATE 27/05/2019 ACQUISIT
Slide 14: Footfall Shopping Centres
BUSINESS PERFORMANCE & ACQUISITIONS / RESULTS PRESENTATION FOOTFALL SHOPPING CENTRES FOOTFALL YTD 2019 Nat. Index Castellana Portfolio 5.2% 5.5% 5.3% 3.8% Strong positive trend across the portfolio (+ 5,3% YTD Sept’2019). Excluding 3.5% 2.2% Bahia Sur and Los Arcos, currently undergoing works, the g
Slide 15: Sales Shopping Centres
BUSINESS PERFORMANCE & ACQUISITIONS / RESULTS PRESENTATION SALES SHOPPING CENTRES SALES YTD 2019 Nat. Index Castellana Portfolio 5.6% Although negative in April, the sector index has reversed course. The Retail Trade Index from April to September ends positive at + 1.4% 4.7% 3.5% 3.2% 3.2% 2.5% Cast
Slide 16: Leasing Activity
BUSINESS PERFORMANCE & ACQUISITIONS / RESULTS PRESENTATION LEASING ACTIVITY COMMERCIAL PERFORMANCE H1FY20 MAIN BUSINESS KPI´S DURING H1FY20 OCCUPANCY INCREASED c. 99% 74 €5.1m 30TH SEPT. 2019 98.61% OPERATION SIGNED NEW RENT SIGNED 31ST MARCH 2019 97.86% 29 45 €2.96m €2.22m RENEWALS NEW CONTRACTS RE
Slide 17: Value Creation
VALUE CREATION MAIN GROWTH DRIVERS BAHIA SUR LOS ARCOS EL FARO
Slide 18: Main growth drivers
VALUE CREATION / RESULTS PRESENTATION MAIN GROWTH DRIVERS LEROY MERLIN ENHANCED TENANCY MIX IN HABANERAS INDITEX GROUP CONSOLIDATION 5 units agreed to be converted from Aki to Leroy New F&B area reconfiguration in upper floor (2 Total GLA renovated/resized of 5,549 m2 Merlin with total GLA of 18.832
Slide 19: Repositioning Project - Bahia Sur
VALUE CREATION / RESULTS PRESENTATION REPOSITIONING PROJECT - BAHIA SUR 1 / 2 19
Slide 20: Repositioning Project - Bahia Sur
VALUE CREATION / RESULTS PRESENTATION REPOSITIONING PROJECT - BAHIA SUR 2 / 2 ACQUISITION OF EL CORTE INGLES UNIT TO REINFORCE THE DOMINANCE OF THE CENTRE, BRINGING NEW AND EXCITING TENANTS TO THE CADIZ REGION CURRENT LAY OUT FUTURE LAY OUT RETURN METRICS Acquisition Cost €19.5m Capex Budget €17.8m
Slide 21: Repositioning Project - Los Arcos
VALUE CREATION / RESULTS PRESENTATION REPOSITIONING PROJECT - LOS ARCOS 1 / 2 21
Slide 22: Repositioning Project - Los Arcos
VALUE CREATION / RESULTS PRESENTATION REPOSITIONING PROJECT - LOS ARCOS 2 / 2 ACQUISITION OF HIPERCOR UNIT ENABLING IMPROVED TENANT MIX ALONG WITH STREET LEVEL RECONFIGURATION CURRENT LAY OUT FUTURE LAY OUT RETURN METRICS Acquisition Cost €17.3m Capex Budget €6.3m 14 11,000 sqm 86.1 % Additional NOI
Slide 23: Repositioning Project - El Faro
VALUE CREATION / RESULTS PRESENTATION REPOSITIONING PROJECT - EL FARO 1 / 2 23
Slide 24: Repositioning Project - El Faro
VALUE CREATION / RESULTS PRESENTATION REPOSITIONING PROJECT – EL FARO 2 / 2 UNLOCKING VALUE BY TRANSFORMING FORMER DIY BOX INTO ATTRACTIVE F&B PLAZA FUTURE LAY OUT RETURN METRICS Capex Budget €4.5m Additional NOI created €0.25k 14 11,000 sqm 39.6 % NEW BRANDS GLA AFFECTED OF GLA SIGNED 1st PREMIUM C
Slide 25: Disclaimer
RESULTS PRESENTATION DISCLAIMER PURPOSE OF THIS PRESENTATION AND LIABILITY ACCOUNTING STANDARDS APPLIED This document has been prepared by Castellana Properties SOCIMI, S.A. ("Castellana Properties") This document and the information presented herein was prepared by Castellana Properties solely with
Slide 26: www.castellanasocimi.es
www.castellanasocimi.es 26
Castellana Properties SOCIMI — H1 FY2020 Earnings Presentation on 6ix