Adler Group Sa · XETR:ADJ
Adler Group Sa — ADO Properties — Q3 2019 Earnings Presentation
22 slides from Adler Group Sa's earnings presentation, Nov 13, 2019
Slide 1: Financial Results Q3 and 2019 Analyst Call
ADO Nine-Month Financial Report 2019 Financial Results Q3 and 2019 Analyst Call November 13, 2019
Slide 2: Capital Market Update
SHY rene LJ co™ |© CAPITAL MARKET UPDATE
Slide 3: The management team
The management team Ran Laufer (1973) Eyal Merdler (1978) Eran Amir (1971) Chief Executive Officer (CEO) Chief Financial Officer (CFO) Chief Operating Officer (COO) CEO since July 23, 2019 CFO since October 01, 2019 COO since October 01, 2019 Studied Business Administration with a focus on Studied B
Slide 4: Investment Highlights & 3Q19 Results
INVESTMENT HIGHLIGHTS & 3Q19 RESULTS 1
Slide 5: ADO – The Pure Play Berlin Residential Specialist
ADO – THE PURE PLAY BERLIN RESIDENTIAL SPECIALIST Investment highlights A focused residential portfolio(2,3)… 1 Berlin residential pure play with a €4.5bn quality portfolio(5) Efficient, fully integrated and scalable platform with a clear strategy to 2 create value. This unique platform enables in-d
Slide 6: Highlights of Q3 2019
Highlights of Q3 2019 Financials (€m) Q3 2019 Q1-Q3 2019 Comments Income from rental activities 36.1 107.5 • On September 26, 2019. The Company announced the entering into of a share purchase agreement with Gewobag Wohnungsbau Aktiengesellschaft Berlin for the sale of 100% of the shares of certain E
Slide 7: ADO Portfolio & Strategy
omy CNS Le aon IN PORTFOLIO & ADO STRATEGY
Slide 8: Balanced, High-Quality Portfolio Focused on Berlin
BALANCED, HIGH-QUALITY PORTFOLIO FOCUSED ON BERLIN Ageing of the portfolio(*) Rent levels(*) Rent restrictions(*) # of units to be 44% 26% released from rent restrictions 20% 207 15% 18% 116 17% 10% 8% 7% 9% 5% 5% 7% 4% 4% 31 3% 36 23 11 17 0 0 1919- 1950- 1965- 1973- 1991- <= 5.00 > 5.00 > 6.00 >7.
Slide 9: Strong like-for-like growth and decreasing vacancies
Strong like-for-like growth and decreasing vacancies Like-for-like rental growth Vacancy split(2) 5.6% 4.0% 4.4% 3.2% 3.1% 2.9% 2.5% 0.8% 0.2% 0.2% 0.1% 0.6% 0.1% 2.4% 2.4% 2.2% 2.1% 1.8% 2.6% 1.6% 2.3% 1.6% 1.2% 0.8% 0.8% 1.0% 0.8% 2018 Q2 2019 Q3 2019 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Fluctuation &
Slide 10: Berliner Mietendeckel
“BERLINER MIETENDECKEL” Summary • On October 22, 2019, the Berlin Senate has agreed on a draft proposal for additional Berlin-specific rent regulations with the objective of “freezing” the rental growth in the Berlin residential market for a period of five years • The proposal was the outcome of – p
Slide 11: Privatization Activities Continue
PRIVATIZATION ACTIVITIES CONTINUE Comments Sales profit –average sales price vs. portfolio value(1) • 49 units sold until Q3 2019 for gross proceeds of €12.1m, Q1-Q3 2019 generating 24% value uplift compared to average fair value of Central Locations +24% +19% 3,256 4,047 • As we expect further pric
Slide 12: Financial Overview
FINANCIAL OVERVIEW 3
Slide 13: Operating with a strong balance sheet
Operating with a strong balance sheet Balance sheet (€M) Notes Sep 30, 2019 Dec 31, 2018 Comments (Unaudited) (Audited) 1 The portfolio value of €4,466m as at September 30, 2019 includes Investment properties 1 3,510 4,050 investment properties (€3,510m) and trading properties (€42m fair Other non-c
Slide 14: Solid Balance Sheet with Fixed Rate Financing
SOLID BALANCE SHEET WITH FIXED RATE FINANCING Key financing figures(1) Diversified debt profile • Interest-bearing debts of €1,679m, almost completely fixed or hedged 0.0% 1.8% 2.2% 1.6% 1.3% 1.7% 1.6% from diversified funding sources Weighted average debt maturity: c. 4.1 years 560 • Diversified fu
Slide 15: Disposal to Gewobag paves the way for new avenues of growth
Disposal to Gewobag paves the way for new avenues of growth of up to €1.1bn Disposal of the Carlos portfolio Geographical overview of the portfolio • ADO Properties S.A. entered into a share purchase agreement with Gewobag Wohnungsbau Aktiengesellschaft Berlin • For the sale of 100% of the shares of
Slide 16: Overview of Profit and loss
Overview of Profit and loss Q1-Q3 Q3 FY Profit and loss (€M) Notes 2019 2019 2018 Comments Net rental income 101.7 34.3 128.0 1 Income from rental activities increased by 8% for the same period in 2018 Income from facility services 5.8 1.9 6.6 and is driven by l-f-l rental growth of 4.4%. Q3 reflect
Slide 17: Overview of FFO
Overview of FFO Q1-Q3 Q3 FY Funds from operations (€M) Notes 2019 2019 2018 Comments EBITDA from rental activities 1 72.4 24.6 93.8 1 EBITDA from rental activities increased by 2%. Q3 reflects an annualized Net cash interest (20.4) (7.0) (25.4) EBITDA of €98m Current income taxes (1.6) (0.6) (1.6) 2
Slide 18: Guidance 2019
GUIDANCE 2019 We currently do not provide a forward looking like for like rental growth guidance given the upcoming discussions on potential 1 implementation of new rent legislation We expect our FFO 1 run rate to be approximately €65m (without the effect of the assets and liabilities of disposal gr
Slide 19: Financial Calendar
FINANCIAL CALENDAR 4
Slide 20: Financial Calendar
Financial Calendar 20 March 18, 2020 May 20, 2020 June 10, 2020 Publication Publication Three-Month Annual Report Financial Report Annual General 2019 (Q1 2020) Meeting 2020 August 12, 2020 November 11, 2020 Publication Publication Half-Year Nine-Month Financial Report Financial Report (Q2 2020) (Q3
Slide 21: Thank you for joining us today
Thank you for joining us today Alte Schönhauser Str. Badensche Str. 32 Mitte Wilmersdorf Berliner Str. Buddestraße Prenzlauer Berg Reinickendorf ADO Half-Year ADO 9M Report 2019 20
Slide 22: ADO Half-Year ADO 9M Report 2019
ADO Half-Year ADO 9M Report 2019