Cpi Europe Ag · VIE:CPI
Cpi Europe — Immofinanz — Q1–3 2024 Earnings Presentation
26 slides from Cpi Europe's earnings presentation, Nov 28, 2024
Slide 1: Earnings Presentation Q1–3 2024
Earnings Presentation Q1–3 2024 28 November 2024
Slide 2: Agenda
VVVUVV Highlights Business Model Results and Financing Portfolio Outlook Appendix — IMMOFINANZ — GROUP
Slide 3: Successful operating period
Highlights Successful operating period GROUP Strong operating performance and Robust High demand FFO 1 financial basis portfolio − Like-for-like rental income of − Equity ratio of 42.2% and net loan-to- − 468 properties with a portfolio IMMOFINANZ (excl. S IMMO) value ratio of 48.7% value of MEUR 7,
Slide 4: Strategic milestones achieved
Highlights Strategic milestones achieved GROUP Further Establishing value- consolidation creating portfolio ESG all along steps growth the line − IMMOFINANZ and CPIPG signed a − Openings of new STOP SHOP retail − Major progress in reducing emissions through framework agreement to develop parks in th
Slide 5: Business Model
VVVUVVY Highlights Business Model Results and Financing Portfolio Outlook Appendix — IMMOFINANZ — GROUP
Slide 6: Strong commitment to high-quality retail and office solutions
Business Model Strong commitment to high-quality GROUP retail and office solutions Our core business Resilient and well established Innovative and retail properties high-end offices We focus on Value-creating Establishing Increasing our Leveraging long-term growth comprehensive sustainability portfo
Slide 7: Results and Financing
GROUP → Results and Financing
Slide 8: P&L – Strong development of operating results
Results and Financing P&L – Strong development of operating results GROUP Q1–3 2024 Q1–3 2023 Change Change in MEUR in MEUR absolute in % − Rental income rose by 11.9% to MEUR 435.6 mainly due to acquisitions of 435.6 389.2 46.4 11.9 retail properties and higher like-for-like Rental income rental in
Slide 9: P&L – Significant increase in EBIT and profit confirms the strategic positioning
Results and Financing P&L – Significant increase in EBIT and profit GROUP confirms the strategic positioning − Revaluations of standing Q1–3 2024 Q1–3 2023 Change Change investments and goodwill totalled in MEUR in MEUR absolute in % MEUR -77.6 and continue to reflect a Revaluation result and goodwi
Slide 10: Newly calculated FFO 1 rose by 24.8% to MEUR 230.9
Results and Financing Newly calculated FFO 1 rose by 24.8% to MEUR 230.9 GROUP Amounts in MEUR Q1–3 2024 Q1–3 2023 Change absolute Change in % Net profit or loss 50.9 -105.9 156.7 n/a FFO 1 after tax Deferred income tax 1.8 -44.7 46.5 n/a Revaluation result from standing investments and goodwill Rev
Slide 11: Well balanced debt maturity profile
Results and Financing Well balanced debt maturity profile Maturity profile1 of IMMOFINANZ Group as of 30 September 2024, in MEUR GROUP Real estate financing regular − Robust balance sheet structure with an Real estate financing maturity equity ratio of 42.2% Bonds 1,000 Cash and cash equivalents as
Slide 12: Portfolio
VVVVVv Highlights Business Model Results and Financing Portfolio Outlook Appendix — IMMOFINANZ — GROUP
Slide 13: Portfolio – At a glance
Portfolio – At a glance Overview Group – Quality portfolio with robust occupancy Key Figures – IMMOFINANZ Group GROUP Company snapshot Portfolio Standing − European real estate corporation with a focus on retail and office properties value2 investments2 Occupancy rate in Central and Eastern Europe −
Slide 14: Continuation of strategic property sales and acquisitions in Q1–3 2024
Portfolio Continuation of strategic property sales GROUP and acquisitions in Q1–3 2024 Sales during Q1–3 2024 − Sales by S IMMO included, among others: − Sales volume totalled to EUR 641.0 − A share and asset deal for a large million (including S IMMO). portfolio in Germany with 18 commercial proper
Slide 15: Developments – Pipeline with focus on STOP SHOPs
Portfolio Developments – Pipeline with focus on STOP SHOPs GROUP Outstanding Development Number of Carrying amount Carrying amount construction Rentable space Expected fair value after Exp. rental income at Exp. yield after projects properties in MEUR in % costs in MEUR in sqm completion in MEUR ful
Slide 16: Outlook
VVVVVY Highlights Business Model Results and Financing Portfolio Outlook Appendix — IMMOFINANZ — GROUP
Slide 17: Clear strategy in an ongoing challenging environment
Outlook Clear strategy in an ongoing challenging environment GROUP − Continuation of the volatile market environment in Q4 2024 expected due to the current macroeconomic and geopolitical conditions. Interest rate cuts by the European Central Bank could provide positive impetus. − Expected market rec
Slide 18: Ongoing integration of IMMOFINANZ and S IMMO
Outlook Ongoing integration of IMMOFINANZ and S IMMO GROUP − Signing of framework agreements with CPI Property Group (CPIPG) as well as with S IMMO to evaluate further integration and potential combination. − Close cooperation CPIPG, IMMOFINANZ and S IMMO to realise synergies, including common servi
Slide 19: Settlement for a squeeze-out of S IMMO
Outlook Settlement for a squeeze-out of S IMMO GROUP − The EGM of S IMMO passed the squeeze-out resolution on 14 October 2024 − Next steps and timeline: − Resolution to be registered in the Commercial Register − Registration and cash compensation payment expected in December 2024 − Key transaction d
Slide 20: Aligned Group ESG strategy & goals
Outlook – ESG Aligned Group ESG strategy & goals GROUP Environment Social Governance − 32.4% reduction in GHG intensity of property portfolio, incl. − Increased share of certified buildings − Agreement on the Code of Conduct with all bioenergy, by year 2030 versus 2019 baseline (validated by (Access
Slide 21: Appendix
VVVUVV Highlights Business Model Results and Financing Portfolio Outlook Appendix — IMMOFINANZ — GROUP
Slide 22: Office standing portfolio (incl. S IMMO)
Appendix Office standing portfolio (incl. S IMMO) GROUP IMMOFINANZ Group 100.0% Czech Republic 21.9% Hungary 16.5% Number of properties 92 Number of properties 20 Number of properties 21 Carrying amount in MEUR 3,941.8 Carrying amount in MEUR 864.2 Carrying amount in MEUR 651.8 Rentable space in sqm
Slide 23: Retail standing portfolio (incl. S IMMO)
Appendix Retail standing portfolio (incl. S IMMO) GROUP IMMOFINANZ Group 100.0% Czech Republic 32.7% Adriatic1 16.2% Number of properties 215 Number of properties 73 Number of properties 43 Carrying amount in MEUR 3,545.4 Carrying amount in MEUR 1,160.0 Carrying amount in MEUR 573.0 Rentable space i
Slide 24: Shareholder structure
Appendix Shareholder structure Shareholder structure1 − The CPI Property Group owns approx. 75% of IMMOFINANZ (shares). − The free float of IMMOFINANZ amounts to approx. 25%, thereof approx. 0.5% treasury shares. − IMMOFINANZ Group has a majority investment of approx. 89% in S IMMO (65,488,174 share
Slide 25: Key figures
Appendix Key figures GROUP Asset data as of 30 September 2024 Stock exchange data as of 30 September 2024 Balance sheet total in MEUR 9,404.0 Book value per share in EUR 27.60 Equity ratio in % 42.2 Share price at end of period in EUR 17.96 Net financial liabilities in MEUR 3,951.4 Discount of share
Slide 26: Contact and financial calendar
Contact Contact and financial calendar GROUP Investor Relations Simone Korbelius T: +43 1 88 090 2291 investor@immofinanz.com Financial calendar Ticker symbols Annual results 2024 28 03 20251 Vienna Stock Exchange IIA Q1 results 2025 28 05 20251 Warsaw Stock Exchange IIA Q1–2 results 2025 28 08 2025