Varia Us Properties Ag · SIX:VARN
Varia Us Properties — FY2024 Earnings Presentation
29 slides from Varia Us Properties's earnings presentation, Mar 31, 2025
Slide 1: 2024 Results and 2025 Outlook
2024 RESULTS AND 2025 OUTLOOK Investor Presentation March 31, 2025
Slide 2: Legal Disclaimer
Legal Disclaimer This presentation includes forward-looking information and statements, including statements concerning the outlook for our business. These statements are based on current expectations, estimates and projections about the factors that may affect our future performance, including the
Slide 3: Agenda
Agenda 1. Key Achievements 2024 2. Financials 3. Portfolio Development 4. ESG 5. Outlook 2025 6. AGM 2025 on 30 April 3
Slide 4: Company Representatives
Company Representatives MANUEL LEUTHOLD PATRICK RICHARD KAREN WELLER ■ Chairman, ■ Executive Board Member, ■ CFO, Varia US Properties Varia US Properties Stoneweg US ■ Founder and CEO, Stoneweg US 4
Slide 5: Key Achievements 2024
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Slide 6: 2024 Key Achievements (1/3)
2024 Key Achievements (1/3) Progress • Corporate activities and operations • Rental income “like for like” increased to USD 102.8 million (2023: USD 99.2 million) • Operating margin (excluding property revaluation) amounted to 38.0% (2023: 32.3%) • Strategic sale of portfolio assets generated USD 10
Slide 7: 2024 Key Achievements (2/3)
2024 Key Achievements (2/3) Financials 7
Slide 8: 2024 Key Achievements (3/3)
2024 Key Achievements (3/3) Financials 8
Slide 9: Financials
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Slide 10: Consolidated Statement of Profit or Loss (1/2)
Consolidated Statement of Profit or Loss (1/2 10
Slide 11: Consolidated Statement of Profit or Loss (2/2)
Consolidated Statement of Profit or Loss (2/2) 11
Slide 12: Consolidated Statement of Financial Position (1/2)
Consolidated Statement of Financial Position (1/2) 12
Slide 13: Consolidated Statement of Financial Position (2/2)
Consolidated Statement of Financial Position (2/2) 13
Slide 14: Financials 6-Year-Comparison (1/2)
Financials 6-Year-Comparison (1/2) Rental Income in Mio Total Income in Mio Rental Income Like for Like in Mio 1 Rental Income in Mio 1 140 124.0 350 320.0 297.7 120 108.6 300 107.9 100 98.4 250 88.9 126.5 80 200 139.5 152.4 60 150 99.2 102.8 40 100 93.8 20 50 0 0 -23.3 2019 2020 2021 2022 2023 2024
Slide 15: Financials 6-Year-Comparison (2/2)
Financials 6-Year-Comparison (2/2) Debt in Mio. Portfolio Value Mortages Balance of interest bearing loans and borrowings LTV Debt Ratio Portfolio Value Like for Like Portfolio Value 1200 1’043 70% 1,704 944 1000 869 878 60% 1,412 818 812 1,300 760 757 800 1’194 601 50% 928 600 516 567 545 915 1’198
Slide 16: Portfolio Development
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Slide 17: Portfolio Development Overview
Portfolio Development Overview • Portfolio value of USD 1,194 billion (2023: USD 1,300 billion), appraised by Collier • 27 properties (2023: 31) • 7,728 units/apartments (2023: 8,518) • Eleven States in the US (2023: 13) • This geographical diversification is crucial to minimising the Company’s vuln
Slide 18: 2024 Portfolio Key Figures
2024 Portfolio Key Figures 18
Slide 19: Portfolio 6-Year-Comparison
Portfolio 6-Year-Comparison Number of Units Number of Assets 53 14’000 11’887 44 12’000 11’042 43 10’896 41 10’269 10’000 8’518 31 7’728 27 8’000 6’000 4’000 2’000 2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024 Occupancy Rate Average market value and monthly rent per unit Market value p
Slide 20: Asset Disposals
Asset Disposals • In 2024, Company sold four assets (790 units) for total gross proceeds of USD 104.2 million; this translated to a blended gross Internal Rate of Return (IRR) of 14.8%. 20
Slide 21: ESG
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Slide 22: ESG Achievements
ESG Achievements • In the reporting year, Vara US began installing solar panels on suitable properties; this is expected to lead to significant energy savings in 2025 and beyond. • Another first in 2024 was the completion of two BREEAM certifications for ongoing operations.This enables the Company t
Slide 23: Outlook 2025
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Slide 24: Outlook 2025
Outlook 2025 Continuous portfolio repositioning • We expect one or more interest rate cuts by the US Federal Reserve in 2025, which will depend to a large extent on the key inflation figures. Government bonds will certainly be influenced by the policies of the new administration, but we expect inter
Slide 25: AGM 2025 on 30 April
Y VARIA Us PROPERTIES AGM 2025 on 30 April wanaceo sTONEWEG GA)
Slide 26: AGM 2025 (1/2)
AGM 2025 (1/2) 30 April • The Company is hopeful that a new real estate cycle is approaching which will allow it to enter the market from an acquisition standpoint once again. In the meantime, Varia US will adopt a prudent position, limiting its dispositions and controlling its cash reserves. • Base
Slide 27: AGM 2025 (2/2) Organizational changes
AGM 2025 (2/2) Organizational changes • In the context of the acquisition of the Cromwell European platform in December 2024, the asset manager of Varia US, Stoneweg SA Group, has decided to fully consolidate its operations and integrate them all under a single umbrella. • Among other participations
Slide 28: Information
Information Investor Information Contact Information Listing: SIX Swiss Exchange Juerg Staehelin, IRF Reputation Currency: USD Investor Relations / Corporate Ticker symbol: VARN Communications ISIN: CH 030 528 529 5 Phone: +41 43 244 81 51 Listing date: December 8, 2016 E-mail: investors@variausprop
Slide 29: Q&A
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