Ctp N.v. · EURONEXT:CTPNV
Ctp — Investor Presentation (February 2021)
30 slides from Ctp's investor presentation, Feb 9, 2021
Slide 1: Investor Update Presentation
Investor Update Presentation 9 February 2021 CTP - A Top 5 Vertically Integrated European Logistics Property Platform Parkmakers
Slide 2: CTP – At a Glance / Our Journey
CTP – At a Glance Our Journey CTPark Modřice Czech Republic
Slide 3: CTP – Our DNA at a Glance
CTP – Our DNA at a Glance Mission: Build, Own, Operate High Quality and Most Sustainable Network of Multi-use Business Parks in Europe CTP at a Glance Top 10 CTParks Park Name Country GLA % GLA Scale Logistics Business with Market Leadership 1 Positions, #4 in Europe (1) Bucharest West 661 11% Bucha
Slide 4: Our Journey: 2000 – 2023 Cementing Leadership in CEE
Our Journey: 2000 – 2023 I Cementing Leadership in CEE Mission: Build, Own, Operate High Quality and Most Sustainable Network of Multi-use Business Parks in Europe Where it all started… Growth Expansion 2023 Target: 10 Million m2 2021-2023 • Structural tailwinds • Land bank and tenant relations • >7
Slide 5: Company Overview
Company Overview 26 CTPark Pohořelice Czech Republic
Slide 6: Key Company Highlights
Key Company Highlights 1 €5.6 Bn(1) Investment Portfolio, ~85%(2) Adjacent to Capital / Major Cities and with Significant Development Potential 2 Largest Player in CEE Region, with Leading Positions Outgrowing the Market in Four Countries in the Fastest Growing Region in Europe 3 End-to-End Business
Slide 7: €5.6 Bn Portfolio, ~85% Adjacent to Capital / Major Cities
€5.6 Bn Portfolio, ~85% Adjacent to Capital / Major Cities and with Significant 1 Development Potential (1/2) Portfolio of 70 Business Parks(1) Integrated within Main European Logistics Hubs and Transportation Corridors Baltic Sea North Sea €5.6 Bn(2) 6.3 MM 6.3% Gdansk sqm GAV GLA EPRA Net Initial
Slide 8: Largest Player in CEE Region; Outgrowing the Market in Last 12 Months
Largest Player in CEE Region(1), with Leading Positions in Four Markets 2 Outgrowing the Market in Last 12 Months Operations Focused on Capital / Major Cities in Czech Republic, Romania, Hungary and Slovakia #1 Logistics Property Company in CEE CTP Is Growing Share in its Markets June 2020 GLA, MM s
Slide 9: 740k sqm Additional GLA Under Construction to be Delivered in 2021
2 740 k sqm Additional GLA Under Construction as of Dec-20A to be Delivered in 2021(1) 44 Projects Corresponding to 740 ksqm additional GLA / 12% Target Yield on Cost / 63% Pre Let Breakdown of Pipeline Under Construction(1) Dec-20A Illustrative Projects k sqm CZ Extension (Bor) 60 29 740 161 100% 7
Slide 10: End-to-End Business Model: We Build to Keep our Assets
End-to-End Business Model: We Build to Keep our Assets, and Manage to 3 Retain Tenants and Maintain Building Quality Vertically Integrated and Tenant Led Approach from Development/Construction to Property Management Maximizing Client Satisfaction and Value Creation for CTP 1 2 3 4 Client Location De
Slide 11: Premium Asset Base Grouped in Large Multi-Use Parks (1/2)
4 Premium Asset Base Grouped in Large Multi-Use Parks (1/2) “Park Makers” – Strategic Focus on the Development of Large Multi-Use Logistics Parks; Generating Synergies and Creating Strong Barriers to Entry Versus Competition Typical Features of Large Multi-Use Parks Top 10 Largest CTParks K sqm (Dec
Slide 12: Premium Asset Base Grouped in Large Multi-Use Parks (2/2)
4 Premium Asset Base Grouped in Large Multi-Use Parks (2/2) Parkmarkers Strategy Delivering Tangible Synergies at Asset and Portfolio Levels and Underpinning Strong Operational Performance with High Tenant Retention Key Benefits of Parks 1 Other 5% Tenant Industry Breakdown(1) Office 5% Internationa
Slide 13: Class-A Modern Assets with Best-in-Class Sustainability Credentials (1/4)
Class-A Modern Assets with ~8 Year Average Age, Premium Specifications and 5 Best-in-Class Sustainability Credentials(1) (1/4) Wide Asset Offering Enables CTP to Satisfy Bespoke Client Needs and Allows Tenants to Grow On Site Overtime Average Building Age ~8 Years Source: Company data Notes: 1. Acco
Slide 14: Class-A Modern Assets with Best-in-Class Sustainability Credentials (2/4)
Class-A Modern Assets with ~8 Year Average Age, Premium Specifications and 5 Best-in-Class Sustainability Credentials(1) (2/4) Intelligent Engineering Extends Beyond the Building Walls: Smart landscaping, Water Retention Technology and Solar-Energy Solutions Ensure Low Environmental Impact and a Wor
Slide 15: Class-A Modern Assets with Best-in-Class Sustainability Credentials (3/4)
Class-A Modern Assets with ~8 Year Average Age, Premium Specifications and 5 Best-in-Class Sustainability Credentials(1) (3/4) High Quality and Sustainable Construction Reflective of Our Long Term Ownership Strategy 13 10 9 14 11 12 9 10 11 12 13 14 Sprinklers & Full Led Lighting Hall Floors HVAC Sy
Slide 16: Wide Range of Sustainability Initiatives Underscores CTP’s Commitment
Wide Range of Sustainability Initiatives Underscores CTP’s Commitment to 5 Generate Long-Term Growth Sustainability efforts are driven by primary goal to reduce CTP’s operational carbon footprint to zero from 2021 CTP Mid-term Green Targets Selected Green Initiatives Green Park Water Containment Fac
Slide 17: Generating Stable Cash Flow
700+ International and Highly Diversified Tenant Base 6 Generating Stable Cash Flow ~86% of Portfolio Exposed to Warehousing Activities Broad and Diversified Tenant Base Consisting of 700+ Tenants Overview of Top 20 Tenants Tenant Industry Breakdown Revenue by Building Use(2) 9M’20 GRI % of Total GL
Slide 18: Well Balanced Lease Expiry Profile with >5-Year WAULT
7 Well Balanced Lease Expiry Profile with >5-Year WAULT Maintained Over Time 6.0 year WAULT(1) as of December 2020 and Institutional Leases Underpinning Quality & Stability of Rental Income Lease Rollover / Expiring GLA Breakdown(2) k sqm – as of December 2020 Euro-Denominated Institutional Leases o
Slide 19: Portfolio Key Operating Metrics
8 Portfolio Key Operating Metrics: High Occupancy Ratio, Tenant Retention Rate and Consistent LfL Rental Growth Generating Strong, Stable Cash Flow Steady Growth in GLA Combined with 94% Occupancy, c.6 Year WAULT and High Tenant Retention; Performance Confirmed in 2020YTD Total GLA(1) Occupancy Rate
Slide 20: Continued Strength in Business throughout the Pandemic
Continued Strength in Business throughout the Pandemic; Attractive 9 New Leases and Renewals and Strong Rent Collection Recent Performance – Key Highlights (9M ended 30 September 2020) • Like-for-like gross rental income1 growth for the 9 months year-on-year was +1.5% • 2020 YTD gross rental income1
Slide 21: Secure Financial Profile with Investment Grade Ratings from S&P and Moody's
9 Secure Financial Profile with Investment Grade Ratings from S&P and Moody's €5.7 Bn Freehold Portfolio Solid Cash Flow Generation Tenant-Led Development Strategy • Profits reinvested in the business ~100% freehold assets • Low dividend payout High quality landbank (5% of total GAV) <9 year average
Slide 22: Appendix
Appendix 18
Slide 23: Introduction
Introduction • Due to the restructuring of CTP Group and in connection with Remon Vos acquiring ownership interests in the Group from the estate of his late Historical partner, the Group declared in 2018 exceptional dividends totaling €761 MM of which €196 MM was paid out in cash financials • Full y
Slide 24: Overview of the 10-year Strategic Partnership with Deka Immobilien
Overview of the 10-year Strategic Partnership with German Based Fund Deka Immobilien • The Deka portfolio transaction in Q4 2018 was amongst the largest real estate transactions in the Czech Republic, underpinning the attractiveness of CTP’s A-Class asset portfolio • Logistics yield in the Czech Rep
Slide 25: Summary IFRS P&L
Summary IFRS P&L +15% Impact of the Deka disposal €242.0 €(18.2) €223.8 €258.0 on rental income2 •A Rental income growth reflective of: 31-Dec YE - € MM 2018A 2019A YoY Δ 9M 2020 — 1.4% LfL rental growth in 2018, 2.0% in 2019 and 1.5% in 9M’20 A Rental Income 242.0 258.0 +6.6% 209.7 — c.585k sqm GLA
Slide 26: Stable Cash Flow from Operations Underpinned by Re-investment
Stable Cash Flow from Operations Underpinned by Substantial Re-investment in the Business Key Cash Flow Items 31-Dec YE - € MM 2018A 2019A YoY ∆ • A Primarily related to deferred taxes on Net result for the year 364.9 392.2 +7.5% revaluation result on investment properties Net valuation result on in
Slide 27: Robust Balance Sheet with a Healthy Debt Equity Funding Mix
Robust Balance Sheet with a Healthy Debt Equity Funding Mix Summary Balance Sheet 31-Dec YE - € MM 2018A 2019A YoY Δ 9M 2020 • Includes investment properties completed A Assets and acquired during the year, new A Investment property 3,750.4 4,429.6 +18.1% 4,725.0 developments initiated and impact of
Slide 28: Disclaimer
Disclaimer THIS PRESENTATION AND ITS CONTENTS ARE CONFIDENTIAL AND ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN VIOLATION OF THE RELEVANT SECURITIES LAWS
Slide 29: Disclaimer (cont’d)
Disclaimer (cont’d) The Information contains statistics, data and other information relating to markets, market sizes, market shares, market positions and other industry data pertaining to the Company's business and markets. Such information has been accurately reproduced and, as far as the Company
Slide 30: Parkmakers
Parkmakers