Corestate Capital Holding Sa · XETR:CCAP
Corestate Capital Holding Sa — FY2020 Earnings Presentation
12 slides from Corestate Capital Holding Sa's earnings presentation, Feb 24, 2021
Slide 1: Management Presentation – Preliminary Results FY-2020
Management Presentation Preliminary Results FY-2020 René Parmantier, CEO | Lars Schnidrig, CFO | Dr. Kai Klinger, CMO
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements that are Glossary subject to various risks and uncertainties. Such statements are € = Euro; based on a number of assumptions, estimates, projections or $ = (US)Dollar; plans that are inherently subject to significant risks, as well as
Slide 3: Highlights of FY 2020
Highlights of FY 2020 Strength and Duration of Second Wave of COVID-19 Changed Risk Perspective Operations and Valuations massively hampered in crisis ▪ Partially interruption and shifts in Real Estate transaction market ▪ Client focus on lower risk-return profiles (Residential, A/B locations) ▪ Rev
Slide 4: Assets under Management – Relative Stability
Assets under Management – Relative Stability Assets under Management Sourcing Pipeline ▪ +1.3% net organic growth in RE AuMs ▪ RE Debt mezzanine pipeline c € 400m overcompensating revaluation effects (project volume > € 2bn) ▪ Planned decrease in non-Real Estate AuMs by c € 300m ▪ RE Equity sourcing
Slide 5: Real Estate Debt – Broadly Robust Despite Crisis
Real Estate Debt – Broadly Robust Despite Crisis Uses of Mezzanine Funds at the End of FY-2020 ▪ Total committed fund volume: c € 1.2bn ▪ Fund volume with seasonally typical outflows, but ▪ # of financed projects: 53 will grow significantly in 2021 ▪ Ø size of mezzanine financing: c € 22.6m ▪ Record
Slide 6: Key Figures FY-2020 – Revenues in line with Guidance, Earnings Burdened by Extraordinary Effects
Key Figures FY-2020 – Revenues in line with Guidance, Earnings Substantially Burdened by Extraordinary Effects Aggregated Revenues & Gains ▪ Acquisition fees and management fees relatively stable Guidance € 185 - 210m ▪ Lower CPF due to valuation effects and higher risk provisioning ▪ Drop in income
Slide 7: Key Balance Sheet Figures Set Back in 2020 with Coherent Route to Recovery
Key Balance Sheet Figures Set Back in 2020 with Coherent Route to Recovery Debt Overview at the End of FY-2020 in m€ ▪ Net debt increase to € 516m driven mainly by temporary higher HFS bridge lending ▪ Reiteration of net debt reduction plan with 608 91 key measures Bank & other debt 117 − Obligatory
Slide 8: Clear Focus on Investors, Reduction of Complexity and Bundling of Sales Forces
Clear Focus on Investors, Reduction of Complexity and Bundeling of Sales Forces as Clear Path for Sustainable Growth Key Strategic Tools Initial Operative Steps (already taken) ▪ Bolt-on of full-service private debt range (AFS acquisition) ✓ Coherent Product Offer ▪ Focus on Core/Core+ ✓ across enti
Slide 9: Strong Growth Perspective on all Major Income Lines
Strong Growth Perspective on all Major Income Lines Market Assumptions ▪ COVID-19 impacts will decrease gradually starting in Q2 of 2021 ▪ Stabilization of asset valuations ▪ Catch-up effects latest in Q3 from positive macro environment, investments pressure and transaction volumes Revenue Split-up
Slide 10: Gaining Momentum on Profitability and De-Risking in 2021
Gaining Momentum on Profitability and De-Risking in 2021 Financial Outlook 2021 * Aggr. Revenues adj. EBITDA adj. Net Profit € 235-260m € 90-115m € 50-75m ▪ AFS considered pro rata (incl. synergies): c € 16m revenues, c € 10m EBITDA and c € 7m net profit ▪ Cost program with savings of € 10m ▪ 2021 O
Slide 11: IR Contact and Financial Calendar 2021
IR Contact and Financial Calendar 2021 Investor Contact Financial Calendar 2021 Dr. Kai G. Klinger 24 February Publication preliminary results for FY 2020 Chief Markets Officer Phone: +49 69 3535630-106 24 March Annual financial report 2020 ir@corestate-capital.com 19 May Publication results for Q1
Slide 12: Annex: Management Board Completed and Aligned
Annex: Management Board Completed and Aligned Members of the Management Board René Parmantier (CEO) Business Development & Corporate Strategy, M&A, Corporate Communications, Equity Raising, Sebastian Ernst (Chief Debt Investment Officer) Private Debt & DCM Nils Hübener (CIO) Investment & Asset Manag
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