Castellana Properties Socimi Sa · BME:YCPS
Castellana Properties Socimi Sa — H1 FY24 Earnings Presentation
30 slides from Castellana Properties Socimi Sa's earnings presentation, November 2023
Slide 1: H1FY24 Financial Results Presentation
H1FY24 April 2023 - September 2023 Financial Results Presentation
Slide 2: Key Highlights
1 KEY HIGHLIGHTS 1.1 Highlights 1.2 Main KPIs performance H1FY24
Slide 3: 1.1 Highlights
FINANCIAL RESULTS PRESENTATION H1FY24 1.1 HIGHLIGHTS Operational Performance Financial Performance Value Operation Like-for-Like GRI growth of +12.9% and NOI LAR España dividend yield of 12% on our Acquisition of former Hipercor site in El Faro growth of +13.0% compared to H1FY23 investment be
Slide 4: 1.2 Main KPIs Performance H1FY24
FINANCIAL RESULTS PRESENTATION H1FY24 1.2 MAIN KPIS PERFORMANCE H1FY24 16 368,495sqm 13% 99.0% 12.9 years 98.9% NOI LIKE-FOR-LIKE ASSETS GLA OCCUPANCY(i) WAULT RENT COLLECTION GROWTH Operational €35.3m €16.2m €462m 3.60% 40.5% GRI NET PROFIT(ii) NET DEBT(iii) ALL-IN COST NET LTV(iv) Financial €1,141
Slide 5: Operational Highlights
2 OPERATIONAL HIGHLIGHTS 2.1 Footfall & Sales Index 2.2 Sales performance per tenant category 2.3 Investment in LAR España
Slide 6: 2.1 Footfall and Sales Index
FINANCIAL RESULTS PRESENTATION H1FY24 2.1 FOOTFALL AND SALES INDEX OUR ACTIVE ASSET MANAGEMENT CONTINUES TO DELIVER IMPRESSIVE GROWTH IN FOOTFALL AND SALES Monthly Variation 2023 vs 2022 Footfall Year 2022 already overpassed 2019 figures, confirming total recovery of footfall. Accumulated visitors
Slide 7: 2.2 Sales Performance per Tenant Category
FINANCIAL RESULTS PRESENTATION H1FY24 2.2 SALES PERFORMANCE PER TENANT CATEGORY Sales FY24 YTD Sep’23 Sales FY23 YTD Sep’22 PETS (i) In terms of our Fiscal Year (FY24), YTD (April 2023 – The recovery and consolidation in key categories for September 2023), sales increased by +7.1% compared to Ca
Slide 8: 2.3 Investment in LAR España
FINANCIAL RESULTS PRESENTATION H1FY24 2.3 INVESTMENT IN LAR ESPAÑA PROVING A SOLID INVESTMENT THESIS WITH A DIVIDEND YIELD OF 12% Lar España presented a very good set of operational results for the period H1 2023, In January 2023, Lar España used its existing cash resources to undertake a bond i
Slide 9: H1FY24 Financial Results
3 H1FY24 FINANCIAL RESULTS 3.1 Consolidated Income statement 3.2 Financial Debt position 3.3 GRI Bridge and breakdown 3.4 GAV Bridge and breakdown 3.5 EPRA BPR Metrics
Slide 10: 3.1 Consolidated Income Statement
FINANCIAL RESULTS PRESENTATION H1FY24 3.1 CONSOLIDATED INCOME STATEMENT CASTELLANA PROPERTIES CONTINUES TO DELIVER MARKET- LEADING OPERATIONAL RESULTS € thousand H1FY23 H1FY24 NOI amounted €32.4 million for H1FY24. On a Like-for-Like Gross rental income (GRI) 31,201 35,255 basis and comparing with
Slide 11: 3.2 Financial Debt Position
FINANCIAL RESULTS PRESENTATION H1FY24 3.2 FINANCIAL DEBT POSITION € million 31/03/2023 30/09/2023 € million Gross Asset Value (GAV)(i) 1,118 1,141 500.8 497.6 (1.8) 5.0 Gross Debt(ii) 498 501 Cash 31 39 Net Debt(ii)(iv) 467 462 Metrics Gross LTV(iii) 44.50% 43.89% NOMINAL DEBT DEBT DRAWDOWNS NOMINAL
Slide 12: 3.3 GRI Bridge and Breakdown
FINANCIAL RESULTS PRESENTATION H1FY24 3.3 GRI BRIDGE AND BREAKDOWN GRI INCREASED TO OVER €35 MILLION LIKE-FOR-LIKE GROWTH OF 12.9% NOI Like-for-Like Growth of 13% Versus H1FY23 SHOPPING CENTRES € million €53M 70% RETAIL PARKS €22M 30% LfL GROWTH 75 12.9% 31.2 4.1 35.3 GRI H1FY23 LIKE-FOR-LIKE GRI H1
Slide 13: 3.4 GAV Bridge and Breakdown
FINANCIAL RESULTS PRESENTATION H1FY24 3.4 GAV BRIDGE AND BREAKDOWN TOTAL GAV INCREASE 2.1% VERSUS MARCH 2023 STRONG NOI GROWTH AND ACTIVE ASSET MANAGEMENT KEY DRIVERS OF +1.0% GROWTH IN DIRECT PORTFOLIO VALUE DESPITE +25BPS INCREASES IN DISCOUNT RATES (IRR) TO MOST ASSETS, AND MORE THAN +30BPS EXPAN
Slide 14: 3.5 EPRA BPR Metrics
FINANCIAL RESULTS PRESENTATION H1FY24 3.5 EPRA BPR METRICS 2019 2020 2021 2022 2023 €649m €30.1m 6.54% 1.31% EPRA NTA EPRA Earnings EPRA NIY EPRA Vacancy rate €6.42 €0.30 6.90% 19.41% EPRA NTA EPRA EPRA EPRA per share Earnings per share “topped-up” NIY Cost ratio(i) i. Ratio calculated considering r
Slide 15: Value Creation
4 VALUE CREATION 4.1 Operating metrics & Leasing Activity 4.2 Value Added Project - El Faro Hipercor 4.3 Value Added Project - Vallsur Repositioning 4.4 Innovation 4.5 Customer centricity 4.6 ESG
Slide 16: 4.1 Operating Metrics & Leasing Activity
FINANCIAL RESULTS PRESENTATION H1FY24 4.1 OPERATING METRICS & LEASING ACTIVITY HIGHEST OCCUPANCY AND COLLECTION RATE IN THE MARKET Key KPI’S September 2023 81 €4.5m OCCUPANCY(iii) LEASES SIGNED NEW RENT SIGNED 30 SEPTEMBER 2023 99.0% 41 40 €2.3m €2.2m 31 MARCH RENEWALS NEW CONTRACTS RENEWALS NEW CON
Slide 17: 4.2 Value Added Project - El Faro Hipercor
FINANCIAL RESULTS PRESENTATION H1FY24 4.2 VALUE ADDED PROJECT - EL FARO HIPERCOR TRANSFORMATIVE PROJECT TO STRENGTHEN THE TENANT MIX WITH A SUPERMARKET, LEISURE AND LEADING TIER-1 FASHION BRANDS Before FIRST FLOOR €2.2m Future Layout ADDITIONAL NOI GENERATED GROUND FLOOR Q4 2024 WORKS EXPECTED COMPL
Slide 18: 4.3 Value Added Project - Vallsur Repositioning
FINANCIAL RESULTS PRESENTATION H1FY24 4.3 VALUE ADDED PROJECT - VALLSUR REPOSITIONING RE-ENVISIONING THE FIRST FLOOR TO POSITION VALLSUR AS THE MAIN F&B AND LEISURE DESTINATION IN THE REGION €16.7m CAPEX INVESTMENT €1.0m ADDITIONAL NOI GENERATED 10,557sqm GLA AFFECTED START H1 2023 NOV 2023 DEC 2023
Slide 19: 4.3 Vallsur Repositioning - La Chismeria
FINANCIAL RESULTS PRESENTATION H1FY24 4.3 VALUE ADDED PROJECT - VALLSUR REPOSITIONING THE NEW LEISURE AREA, CALLED “LA CHISMERIA” WILL BE INAUGURATED IN DECEMBER, LAUNCHING REFRESHED BRANDING OF THE MALL AT THE SAME TIME BEFORE Committed and signed In negotiation AFTER DECEMBER 1st 12 INAUGURATION N
Slide 20: 4.4 Innovation
FINANCIAL RESULTS PRESENTATION H1FY24 4.4 INNOVATION FIRST DARK KITCHEN IN A SHOPPING CENTRE IN SPAIN IN ANTICIPATION OF NEW RETAIL TRENDS AND IN ORDER TO DELIVER ON OUR SHOPPERS’ NEEDS Bright kitchens MORE CHOICES FOR OUR CUSTOMERS 12 new restaurant brands INTRODUCING “DARK KITCHENS” IN SHOPPING CE
Slide 21: 4.5 Customer Centricity
FINANCIAL RESULTS PRESENTATION H1FY24 4.5 CUSTOMER CENTRICITY OUR SHOPPING CENTRES PLAY A LEADING ROLE AS SOCIAL HUBS IN OUR COMMUNITIES Castellana Properties continues to build on its pledge to spotlight social issues through innovative initiatives, creating new spaces of interaction and making a p
Slide 22: 4.5 Customer Centricity - Pulguitas Campaign
FINANCIAL RESULTS PRESENTATION H1FY24 4.5 CUSTOMER CENTRICITY ADDING VALUE TO OUR COMMUNITIES, AT THE SAME TIME WE IMPROVE FOOTFALL AND SALES As part of our marketing strategy, shopping centres address local causes, but PULGUITAS also many actions are implemented in the whole Castellana portfolio
Slide 23: 4.6 ESG
FINANCIAL RESULTS PRESENTATION H1FY24 4.6 ESG CASTELLANA PROPERTIES MAINTAINS ESG SUCCESS ON ITS JOURNEY TOWARDS BEING A MORE SUSTAINABLE COMPANY At Corporate Level At Asset Level EPRA sBPR 100% OF CASTELLANA PROPERTIES SHOPPING CENTERS ARE Castellana Properties obtained the top award (Gold) for the
Slide 24: Appendix
5 APENDIX 5.1 Portfolio 5.2 Top Assets Overview 5.3 ESG Strategic plan 5.4 ESG Assessment Landscape
Slide 25: 5.1 Portfolio
FINANCIAL RESULTS PRESENTATION H1FY24 5.1 PORTFOLIO Andalucía 6 activos Asturias 1 activo Castilla y León 1 activo C. Valenciana 2 activos Extremadura 4 activos Madrid 1 activo Murcia 1 activo 19
Slide 26: 5.2 Top Assets Overview
FINANCIAL RESULTS PRESENTATION H1FY24 5.2 TOP ASSETS OVERVIEW EL FARO BAHÍA SUR LOS ARCOS GRANAITA HABANERAS PUERTA EUROPA VALLSUR PARQUE OESTE PROVINCE BADAJOZ SAN FERNANDO SEVILLA GRANADA TORREVIEJA ALGECIRAS VALLADOLID MADRID AREA 57,273 sqm 35,304 sqm 26,577 sqm 54,716 sqm 24,892 sqm 29,783 sqm
Slide 27: 5.3 ESG Strategic Plan
FINANCIAL RESULTS PRESENTATION H1FY24 5.3 ESG STRATEGIC PLAN DECENT WORK AND ECONOMIC GROWTH CLIMATE ACTION Protect labor rights taking into account the interests Have a systematic process in place to assess the of employees, conducting periodic satisfaction material financial impact of transiti
Slide 28: 5.4 ESG Assessment Landscape
FINANCIAL RESULTS PRESENTATION H1FY24 5.4 ESG ASSESMENT LANDSCAPE ENVIRONMENTAL SOCIAL ESG CORPORATE LEVEL ASSET LEVEL 22
Slide 29: Disclaimer
FINANCIAL RESULTS PRESENTATION H1FY24 DISCLAIMER PURPOSE OF THIS PRESENTATION AND LIABILITY ACCOUNTING STANDARDS APPLIED This document has been prepared by Castellana Properties SOCIMI, S.A. ("Castellana Properties") This document and the information presented herein was prepared by Castellana Prope
Slide 30: Contact
Rubén Darío, 3 28010 Madrid (+34) 91 426 86 86 castellanaproperties.es
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