Patrizia Se · XETR:PAT

Patrizia — PATRIZIA Immobilien — H1 2017 Earnings Presentation

18 slides from Patrizia's earnings presentation, Aug 9, 2017

  1. Slide 1: H1 2017 Results Presentation

    PATRIZIA The European Real Estate Investment Company H1 2017 Results Presentation 9 August 2017 PATRIZIA Immobilien AG PATRIZIA Bürohaus | Fuggerstrasse 26 | 86150 Augsburg | T +49 821 50910-000 | F +49 821 50910-999 | immobilien@patrizia.ag | www.patrizia.ag

  2. Slide 2: PATRIZIA – The European Real Estate Investment Company

    PATRIZIA – The European Real Estate Investment Company HIGHLIGHTS ASSETS UNDER MANAGEMENT (in EUR billion)  Strong H1 2017 confirms successful continuation of growth strategy 20.6  AUM of EUR 19.2bn as of 30.06.17 18.6 19.2 16.6  AUM of EUR 19.8bn as of 31.07.17 14.6 11.8  Increase in operating

  3. Slide 3: H1 2017 results fully on track to achieve full-year financial goals

    H1 2017 results fully on track to achieve full-year financial goals OPERATING INCOME (in EUR million) Third-party business Fees − Opex Management income +23.5% Regulated funds Single asset mandates 34.9 43.1  Institutional investors  Private investors  Co-investments H1/16 H1/17 Return on Equity

  4. Slide 4: Increasing fee income confirms scalability of PATRIZIA’s platform

    Increasing fee income confirms scalability of PATRIZIA’s platform FEE INCOME DEVELOPMENT TOTAL FEE INCOME  Total fee income up 13.1% to EUR 88.1m in H1 2017 (in EUR million) +13.1% 88.1 77.8  Stable management fees despite sale of property 1.7 24.4 29.1 management business 18.7 47.0 45.0  Perform

  5. Slide 5: AUM growth drives recurring asset management fee income

    AUM growth drives recurring asset management fee income… ASSET MANAGEMENT FEES STEADILY GROWING ASSETS UNDER MANAGEMENT (in EUR billion)  PATRIZIA receives recurring service fees for managing real estate assets for more than 20.6  18.6 19.2 200 international investors 16.6 14.6  Fee income is ste

  6. Slide 6: …with transaction fees remaining a consistent part of total income…

    …with transaction fees remaining a consistent part of total income… TRANSACTION FEES OF EUR 18.7M IN H1 2017 TRANSACTION VOLUME 7.2 (in EUR billion)  Transactions of EUR 1.2bn completed in H1 2017; Ø EUR 4.8 3.0 5.1 4.9bn another EUR 0.7bn transaction closed in July 0.5 4.1 0.7 1.9 3.2  Promising

  7. Slide 7: …and performance fees emphasising PATRIZIA’s track record

    …and performance fees emphasising PATRIZIA’s track record PERFORMANCE FEES AS RELIABLE PART OF ANNUAL FEE STREAM PERFORMANCE FEES (in EUR million)  Third-party funds and co-investments generate performance fees upon exceeding pre-determined return hurdles 128.4  EUR 24.4m of performance fees in H1

  8. Slide 8: Successful evolution to significant recurring fee based cash flow

    Successful evolution to significant recurring fee based cash flow  Recurring fee income from investment management services represents 87% of total income  Sales proceeds from own assets held on the balance sheet are running out  Co-investment income continues to deliver an attractive return on e

  9. Slide 9: Well positioned to capture opportunities via balance sheet strength

    Well positioned to capture opportunities via balance sheet strength  Strong balance sheet ratios and capital structure to facilitate further substantial profitable growth  Issuance of bonded loan of EUR 300m significantly increases financial flexibility and growth options  Total available cash no

  10. Slide 10: Public share buy-back offer to start on 10 August 2017

    Public share buy-back offer to start on 10 August 2017  Key rationale: Use shares as additional M&A currency • Increase options of means of purchase price consideration • Avoid dilution of existing shareholders RATIONALE • Align goals of target’s existing management team with PATRIZIA  Other usage

  11. Slide 11: Outlook for 2017 confirmed – Operating Income of EUR 60m - 75m

    Outlook for 2017 confirmed – Operating Income of EUR 60m - 75m ASSUMPTIONS INCOME BRIDGE  Asset management fees based on average (in EUR million) AUM of EUR 19.5bn — EUR 20.5bn  Transaction volume: EUR 4.0bn — EUR 5.5bn 39  Investment income: remaining principal 38 investments and income from par

  12. Slide 12: Evolution to the global provider of European real estate

    Evolution to the global provider of European real estate ASSETS UNDER MANAGEMENT (in EUR billion)  Deploy cash Completed transformation  Realise M&A to a leading European Real Estate Investment Manager ~30 VISION  Continue European expansion 19.2  Broaden product portfolio  Expand international

  13. Slide 13: Appendix

    Appendix PATRIZIA Immobilien AG| © 2017 13

  14. Slide 14: Consolidated Income Statement H1 2017

    Consolidated Income Statement H1 2017 1st half 2017 1st half 2016* in EUR k 01.01.-30.06.2017 01.01.-30.06.2016 Revenues 105,903 110,712 Income from the sale of investment property 227 901 Changes in inventories -7,367 -19,606 Other operating income 11,343 3,027 Income from the deconsolidation of su

  15. Slide 15: Consolidated Balance Sheet 30 June 2017 – assets

    Consolidated Balance Sheet 30 June 2017 – assets ASSETS in EUR k 30.06.2017 31.12.2016 A. Non-current assets Goodwill 610 610 Other intangible assets 34,420 35,416 Software 10,940 10,772 Investment property 10,062 12,226 Equipment 4,357 4,460 Participations in associated companies 86,803 85,923 Part

  16. Slide 16: Consolidated Balance Sheet 30 June 2017 – equity/liabilities

    Consolidated Balance Sheet 30 June 2017 – equity/liabilities EQUITY AND LIABILITIES in EUR k 30.06.2017 31.12.2016 A. Equity Share capital 83,956 83,956 Capital reserve 184,005 184,005 Retained earnings Legal reserves 505 505 Non-controlling shareholders 1,691 1,691 Currency translation differences

  17. Slide 17: Financial calendar

    Financial calendar 2017 August 9  Interim report for the first half of 2017 November 14  Interim report for the first nine months of 2017 Conference calls about financial reports are usually held at 3 pm CET. Invitations and dial-in numbers are provided in advance. To stay informed, visit www.patr

  18. Slide 18: Contact details

    Contact details KARIM BOHN MARTIN PRAUM LAURA WANZL CFO HEAD OF IR MANAGER IR PATRIZIA Immobilien AG PATRIZIA Immobilien AG PATRIZIA Immobilien AG PATRIZIA Bürohaus PATRIZIA Bürohaus PATRIZIA Bürohaus Fuggerstrasse 26 Fuggerstrasse 26 Fuggerstrasse 26 86150 Augsburg 86150 Augsburg 86150 Augsburg T +

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