Vgp Nv · EURONEXT:VGP
Vgp Nv — Investor Presentation (September 2021)
23 slides from Vgp Nv's investor presentation, September 2021
Slide 1: VGP Company Presentation
VGP Company Presentation September 2021 www.vgpparks.eu
Slide 2: 1. Introduction to VGP
1. Introduction to VGP
Slide 3: Fully integrated pure-play logistics real-estate company
Fully integrated pure-play logistics real-estate company Company at a glance Portfolio KPI’s as of 30-Jun-21 n Pan-European operator, owner and developer of prime 130 logistics and light industrial parks €4.48bn1 85 324 Number of Total GAV Parks Tenants completed n Fully integrated business model wi
Slide 4: Overview of VGP Parks
Overview of VGP Parks Overview of VGP Parks by country Overview of VGP Parks as of 30 June 2021 4
Slide 5: Key ESG goals of VGP: Net carbon neutrality by 2025
Key ESG goals of VGP: Net carbon neutrality by 2025 target introduced in 2021 Invest in income generating renewable energy assets Green power generation capacity of 61.8 MWp; target increased to 200MWp 34.9% of the total portfolio has now been environmentally certified; All new buildings delivered a
Slide 6: Successful track record of geographic expansion and continued delivery across markets
Successful track record of geographic expansion and continued delivery across markets 2020 2018 n€309mm ABBs (€109mm in September and €200mm in April) 2016 nFurther expansion nLaunch of 3rd JV (first development JV) nLaunch of 4th JV (second throughout Western development JV) 2013 nEstablished and S
Slide 7: Fully integrated business model with in-house capabilities and competences
Fully integrated business model with in-house capabilities and competences Concept & Ancillary Land Construction Rent Portfolio Design Services n Identification of n In-house design n Acting as a n Mainly long term n Long term n Assisting clients top locations of buildings general lease agreements d
Slide 8: Unique strategy enabling growth
Unique strategy enabling growth Develop, hold and sell-to-jv strategy with an aim to maximise shareholder value and optimise capital allocation 8
Slide 9: Strategic partnership with Allianz Real Estate through three established joint ventures
Strategic partnership with Allianz Real Estate through three established joint ventures VGP European Logistics VGP European Logistics 2 3rd JV: VGP Park München 50% 50% 50% 50% 50% 50% 100% 5.1% 94.9% 100% Czech Austria Germany Republic 100% Italy 100% Slovakia 100% Netherlands 100% Hungary 100% Por
Slide 10: Premium asset base comprising modern and well located parks
Premium asset base comprising modern and well located parks VGP Park Frankenthal VGP Park Olomouc VGP Park Moerdijk VGP Park München VGP Park San Fernando Completed 2018 Construction 2016 (started) Infrastructure works started Construction 2019 (started) Construction 2017-2020 Total Gross Lettable a
Slide 11: 2. Operational performance
2. Operational performance
Slide 12: Proven ability to rapidly convert acquired land into fully-let and operational parks
Proven ability to rapidly convert acquired land into fully-let and operational parks Total land bank secured (Mio. m²) Completed1 gross leasable area (‘000 m²) 5,000 t e 4,547 4,500 Ra t h ow % l Gr : 27 a 1 900 4,000 n u H ’2 te An 7-1 Ra 12.58 d 1 th un ) ’ 3,341 ro w % 3,500 po A G R m al G 3 3 C
Slide 13: …driving resilient portfolio growth …
…driving resilient portfolio growth … Total portfolio – including 100% JV (€ million) 3,843 Own portfolio 4,000 e Rat JVs-related1 wth a l G ro .9 % 3,500 nnu : 33 2,771 u n d A 6-’ 20 1 mp o R) ’ C o (C A G 3,000 1,936 2,500 2,923 1,506 2,000 1,978 1,195 1,500 1,360 878 1,000 645 920 500 793 550 62
Slide 14: …which has resulted in a diversified investment portfolio
…which has resulted in a diversified investment portfolio Investment portfolio breakdown1 Country breakdown Completed vs Under Construction vs Land Bank Hungary Romania €116mm – 3% Development land €141mm €461mm 3% Other Slovakia 10% €178mm €147mm 4% 3% Netherlands Under €317mm – 7% Construction Spa
Slide 15: Portfolio leased on a long-term basis to a diversified and blue-chip customer base
Portfolio leased on a long-term basis to a diversified and blue-chip customer base Weighted average term of the portfolio Blue-chip top 10 Tenants (JVs at 100%) Combined 8.2 years Krauss Maffei 13.5% Amazon 6.2% JV 7.6 years Rhenus Logistics 3.9% Own 9.6 years Drylock Technologies 2.4% BMW Group 2.3
Slide 16: Well advanced land bank to support future growth
Well advanced land bank to support future growth Build-up of Land bank (m2 ) Land bank1 – geographic breakdown 12,580,000 4,020,000 8,560,000 Other 21% Spain 8% Germany 21% 2,990,000 5,470,000 5,570,000 Slovakia 8% (700,000) 800,000 Netherlands 15% Czech Republic 13% Romania 14% Land owned Deployed
Slide 17: 3. Financial performance
3. Financial performance
Slide 18: Income Statement – 1H 2021
Income Statement – 1H 2021 n Operating profit up €22.1mm to €240.0mm Income statement (€ million) 1H21 1H20 n Driven by higher share of net profits of joint ventures and Revenue 18.1 12.4 associates (up €65.8mm) partially offset by lower net Gross rental income 7.1 4.7 valuation gains on investment
Slide 19: Income Statement – 1H 2021 by segment
Income Statement – 1H 2021 by segment Investment Development Property and Asset Management € million 1H 21 1H 20 € million 1H 21 1H 20 € million 1H 21 1H 20 Gross rental income 7.1 4.7 Gross rental income - - Gross rental income - - Property operating expenses (0.3) (0.1) Property operating expenses
Slide 20: Balance sheet – assets as of Jun 2021
Balance sheet – assets as of Jun 2021 n Investment Properties of €1,264 mm 30 Jun '21 31 Dec '20 n Completed portfolio €195mm ASSETS n Under construction €709mm Investment properties 1,263.8 920.2 Investment in joint ventures and associates 752.3 654.8 n Development land €359mm Other non-current rec
Slide 21: Balance sheet – Shareholders’ equity and liabilities as of June 2021
Balance sheet – Shareholders’ equity and liabilities as of June 2021 30 Jun '21 31 Dec '20 n Shareholders’ equity of €1,434mm SHAREHOLDERS' EQUITY AND LIABILITIES n Up €129mm since Dec ’20, despite €75mm Shareholders' equity 1,434.4 1,305.7 dividend paid in 1H 2021 Non-current financial debt 1,343.9
Slide 22: Track record of the joint ventures
Track record of the joint ventures First JV: VGP European Logistics Second JV: VGP European Logistics 2 Third JV: VGP Park München Germany Austria Czech Republic Italy Hungary Netherlands Slovakia Portugal Romania Spain Closing I GAV: c.€500mm Closing I GAV: c.€175mm Seed c’ing GAV: c.€187mm (May ‘1
Slide 23: Disclaimer
Disclaimer ABOUT VGP VGP is a pan-European developer, manager and owner of high-quality logistics and semi-industrial real estate. VGP operates a fully integrated business model with capabilities and longstanding expertise across the value chain. The company has a development land bank (owned or com