Vbare Iberian Properties Socimi S.a. · BME:SCVBA
Vbare Iberian Properties Socimi — 9M 2022 Earnings Presentation
21 slides from Vbare Iberian Properties Socimi's earnings presentation, Nov 17, 2022
Slide 1: 9 Months 2022 Financial and Operational Results Presentation
9 MONTHS 2022 FINANCIAL AND OPERATIONAL RESULTS PRESENTATION November 17, 2022 1
Slide 2: Disclaimer
DISCLAIMER This document has been prepared by VBARE Iberian Properties SOCIMI, S.A. (the “Company”) and its subsidiaries (the “Group”). This Presentation does not constitute or form part of, and should not be construed as, any offer to sell or issue or invitation to purchase or subscribe for, or any
Slide 3: Index
INDEX 1. 9 Months 2022 Operating Performance 2. 9 Months 2022 Financial Performance 3. Annex: Portfolio Overview 3
Slide 4: 2022 Highlights
2022 HIGHLIGHTS STRONG COMMERCIAL ACTIVITY WITH 32 LEASES SIGNED IN Q3 2022 WITH A RELETTING SPREAD OF +6.12% (66 LEASES SIGNED IN 2022 WITH A RELETTING SPREAD OF +9.41%) STABLE HIGH NET OCCUPANCY OF 97.86% SHOWING MARKET STRENGTH LIKE-FOR-LIKE GRI INCREASE +25.8% Vs. 9 MONTH PERIOD 2021 7.15% LIKE-
Slide 5: 1. 9 Months Operating Performance
1. 9 MONTHS OPERATING PERFORMANCE 5
Slide 6: Leasing Performance
1. 9 Months 2022 Operating Performance LEASING PERFORMANCE Quarterly Leases Signed Quarterly Net Occupancy ¹ +4% 37 97.92% 96.43% 97.86% 94.81% 95.86% 32 28 18 16 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Sept. 30, 21 Dec. 31, 21 Mar. 31, 22 Jun. 30, 22 Sept. 30, 22 High number of signed contracts ach
Slide 7: Operative Performance
1. 9 Months 2022 Operating Performance OPERATIVE PERFORMANCE Like-for-Like Annualized GRI Evolution (€ k) Annualized Rents Potential Growth (€ k) 2 Bonified Rents1 Total Rents +5% +63% +12% 1,989 2,007 2,018 2,110 1,882 1,904 1,915 2,009 2,096 1,756 Sept. 30, 21 Dec. 31, 21 Mar. 31, 22 Jun. 30, 22 S
Slide 8: Operative Performance: Yields
1. 9 Months 2022 Operating Performance OPERATIVE PERFORMANCE Yield1 on Invested Capital 2 over Stabilized Assets 3 Yield1 on GAV 4 over Stabilized Assets3 Gross Yield Net Yield Gross Yield Net Yield +10% +4% 8.4% 8.7% +4% +4% 7.9% 8.0% 8.1% 7.7% 4.7% 4.8% 4.7% 4.7% 4.9% 7.1% 7.2% 7.4% 6.9% 4.1% 4.2%
Slide 9: 2. 9 Months 2022 Financial Performance
2. 9 MONTHS 2022 FINANCIAL PERFORMANCE 9
Slide 10: IFRS 2022 Profit & Loss Account
2. 9 Months 2022 Financial Performance IFRS 2022 PROFIT & LOSS ACCOUNT Profit & Loss Account (€ k) September 30, 2022 September 30, 2021 Variation Gross Rental income (Like-for-Like Assets) 1,416 1,126 25.8% Gross Rental income (Units sold) 17 217 -92.2% Gross Rental Income 1,433 1,343 6.7% Other op
Slide 11: September 30, 2022 Consolidated Balance Sheet
2. 9 Months 2022 Financial Performance SEPTEMBER 30, 2022 CONSOLIDATED BALANCE SHEET Assets (€ k) Liabilities (€ k) September 30, 2022 December 31, 2021 Variation September 30, 2022 December 31, 2021 Variation Net Equity 44,917 46,368 -3.1% Non- Current Assets 67,362 64,374 4.6% Share capital 18,049
Slide 12: 2022 GAV and NAV Evolution
2. 9 Months 2022 Financial Performance 2022 GAV¹ AND NAV EVOLUTION 2022 GAV Evolution (€ k) 2022 NAV Evolution (€ k) (-2.35%) +4.06% +3.09% (+2.49%) (+0.34%) (-0.17%) (-5.79%) GAV 31/12/2021 Sales GAV 31/12/2021 CAPEX Fair Value GAV NAV Own Shares Share Premium & NAV Pre-Sales Post-Sales Invested Ad
Slide 13: VBARE NAV per Share vs. Share Price
2. 9 Months 2022 Financial Performance VBARE NAV PER SHARE vs. SHARE PRICE (21.0%) (22.0%) (31.4%) (45.3%) (47.6%) (44.2%) (42.6%) (43.0%) 13.92 13.59 12.97 13.07 12.98 12.99 12.62 12.62 11.00 10.60 8.90 7.15 7.25 7.25 7.20 6.80 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 17 November 202
Slide 14: September 30, 2022 Financing Information
2. 9 Months 2022 Financial Performance SEPTEMBER 30, 2022 FINANCING INFORMATION Outstanding Debt by Institution Loan to Value¹ 37.4% 9% 35.4% 1% 39% 50% 2021 2022 Sabadell Banca Pueyo Bankinter Laboral Kutxa 1.78% 16YEARS Portfolio average Portfolio average Mortgage Loans Interest Rate2 interest rat
Slide 15: Annex: Portfolio Overview
ANNEX: PORTFOLIO OVERVIEW 15
Slide 16: Main KPIs Performance: Operational & Commercial
Annex: Portfolio Overview MAIN KPIs PERFORMANCE: OPERATIONAL & COMMERCIAL 246 18,554 14,555 97.86 % 1.48 Total Number Total GLA Total Residential Q3 2022 Tenants of Units ¹ (SQM) GLA (SQM) ² Net Occupancy ³ Per Unit 32 9.78% Total Leases Signed in 79.0% 21.1 30.98% Q3 2022 Reletting Q3 2022 VBARE’s
Slide 17: Main KPIs Performance: Financial & Corporate
Annex: Portfolio Overview MAIN KPIs PERFORMANCE: FINANCIAL & CORPORATE €2.1mn €13.94 €751 €3.4mn Current Annual Monthly Passing Monthly Passing Annual Passing Rent Rent per Rent per Reversionary Rent Residential SQM ¹ Residential Unit ¹ €48.8mn €3,359 Total €67.1mn €4,222 Total Q3 2022 2022 GAV Inve
Slide 18: Current Portfolio Description and Location
Annex: Portfolio Overview CURRENT PORTFOLIO DESCRIPTION AND LOCATION GLA (SQM) Units ¹ 2022 18.554 2022 246 2021 19,103 2021 254 2020 21,372 2020 331 Madrid City Center Inside M30 ² Building Ownership > 50% ² 2022 66.39% 2022 89.46% 2021 64.90% 2021 87.46% 2020 65.54% 2020 84.93% 1. Only Residential
Slide 19: Current Portfolio Description and Location
Annex: Portfolio Overview CURRENT PORTFOLIO DESCRIPTION AND LOCATION Type of Ownership ¹ Portfolio Location ¹ Inside M30 Location ¹ 10% 0% Entire Building 11% 3% Inside M30 Chamberí 3% 19% 3% Outside M30 Units in the same Tetuán 17% building (>50%) Metropolitan 17% Area of Madrid Malasaña Units in t
Slide 20: Portfolio Gallery
Annex: Portfolio Overview PORTFOLIO GALLERY 20
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