Hamborner Reit Ag · XETR:HABA
Hamborner Reit — Investor Presentation (November 2023)
36 slides from Hamborner Reit's investor presentation, November 2023
Slide 1: Company Presentation November 2023
Company Presentation November 2023 Office property Ingolstadt
Slide 2: Agenda
Agenda 1. HAMBORNER at a glance 2. Portfolio Overview 3. Asset Management 4. Financials 5. Sustainability / ESG 6. Appendix Agenda |2
Slide 3: 1. HAMBORNER at a glance
1. HAMBORNER at a glance Office property ‚Nu-Office‘ Munich
Slide 4: Company profile
Company profile History Company profile ▪ Public commercial property company 1953 Foundation of HAMBORNER ▪ Profitable and diversified German-wide property portfolio Listing on stock exchange ▪ Two-pillar portfolio structure with focus on food-anchored retail and 1954 office properties Clear focus o
Slide 5: The HAMBORNER Share
The HAMBORNER Share The HAMBORNER Share Shareholder structure Current share price €6.85 (as of 14 November 2023) Market capitalisation €557.2m (as of 14 November 2023) 12.20% RAG Foundation WKN/ISIN A3H233 / DE000A3H2333 Ticker symbol HABA 81,343,348 5.37% BlackRock shares Class of shares Registered
Slide 6: 2. Portfolio Overview
2. Portfolio Overview Office property Münster
Slide 7: Portfolio Strategy – Target Structure
Portfolio Strategy – Target Structure Retail Portfolio Office Portfolio Manage-to-core properties Manage-to-core properties 10-20% 10-20% with value-add potential with value-add potential Maintaining/extension of 80-90 % Maintaining/extension of 80-90% core retail portfolio with 80-90% core office p
Slide 8: Portfolio Management Approach
Portfolio Management Approach ▪ Retail Asset classes ▪ Office ▪ Core Risk profile ▪ Manage-to-core ▪ > €10m (retail) Lot size ▪ > €20m (office) ▪ Focus on core investments ▪ Addition of selected manage-to-core properties with larger asset management need (refurbishment, reletting, repositioning etc.
Slide 9: Geographical Portfolio Structure
Geographical Portfolio Structure Geographical Focus (Metropolitan Regions in Germany) Portfolio by Metropolitan Regions Metropolitan Region Share of portfolio volume 1 Rhein-Ruhr 21.6% 8 2 Frankfurt Rhein-Main 12.6% 10 9 3 Berlin-Brandenburg 9.8% 3 4 Nürnberg 8.2% 5 Stuttgart 5.8% 1 11 6 München 5.4
Slide 10: Portfolio development
Portfolio development 2.000 50 Portfolio value and average property value Comments ▪ Continuous value-adding portfolio growth since 1,589 1,625 1,604 1,609 conversion into a G-REIT in 2010 1,517 1,542 40 1.500 ▪ Average annual growth rate of 10.7% 1.363 over the last 10 years ▪ Average property valu
Slide 11: Portfolio revaluation as of 30 June 2023
Portfolio revaluation as of 30 June 2023 Portfolio development H1 2023 Comments ▪ Total value reduction resulting from property Disposal Retail Portfolio (LfL) Office Portfolio (LfL) disposal (-€1.0m) and -5.7% decrease of like-for- Portfolio value like portfolio value (-€91.2m) €1,608.6m ▪ Decline
Slide 12: Acquisitions 2023
Acquisitions 2023 Hanau Offenburg Hanau Offenburg Asset type Retail Retail Investment approach Core Core Year of construction 1997 (refurbished 2017) 2017 Leased area 4,100 m2 13,900 m2 WALT1 12.5 years 7.8 years Offenburg Occupancy rate1 100% 100% Annual rental income1 ~€0.4m ~€1.2m Purchase price
Slide 13: Portfolio key metrics as of September 2023
Portfolio key metrics as of 30 September 2023 Asset class Total portfolio Investment approach Retail Office Split Core % Manage-to-Core % Number of properties 39 28 67 64 95.5% 3 4.5% Fair Value €858.8m €683.4m €1,542.2m €1,483.0m 96.2% €59.2m 3.8% Leased area 393,161 m² 229,703 m² 622,863 m² 595,66
Slide 14: Rent development
Rent development Development of annualized rents (year-on-year) +€3.2m +€0.1m €90.5m +0.1% +€1.6m €85.6m +3.8% +1.8% Annualized rents Acquisitions Indexation Lettings/ Annualized rents 30 September 2022 Vacancy change 30 September 2023 Rent development like-for-like (year-on-year)1 Asset class Total
Slide 15: 3. Asset Management
3. Asset Management Retail property ‚Rondo Steinheim‘ Hanau
Slide 16: Tenant base
Tenant base Top-10 tenants (as of 30 September 2023) Sector distribution (as of 30 September 2023) Tenant Sector Rent1 Sector Rent1 EDEKA Food retail 13.3% Food 33.0% Kaufland Food retail 7.2% DIY 11.5% REWE Food retail 6.9% IT / Communication 10.1% OBI DIY 6.8% Finance / Insurance 7.1% Globus Food
Slide 17: Recent letting success
Recent letting success Lease renewals OBI DIY stores Aachen Lease area ~11,400m² Extension +10 years Duration 2037 Leipzig Lease area ~11,100m² Extension +10 years Duration 2034 Hilden Lease area ~10,800m² Extension +5 years Duration 2034 Early renewal of leases with long-term tenant DIY retailer
Slide 18: Leasing situation
Leasing situation Weighted average lease expiry (as of 30 September 2023) Letting result 9M 2023 90,313m² 78,075m² 50% 45% 7.8 years 12,238m² 55% 50% 6.5 years 4.8 years 83% 17% New lettings Contract extensions Total Retail Office Total Retail Office 40,0% Lease expiry schedule (as of 30 September 2
Slide 19: 4. Financials
4. Financials Office property/Medical center Regensburg
Slide 20: Key figures 9M 2023
Key figures 9M 2023 Key figures 30 September 2023 30 September 2022 Change Profit and loss statement Income from rents and leases €66.2m €63.2m +4.8% Operating result €12.0m €19.6m -39.0% Profit for the period €2.7m €10.1m n/a Key KPIs Funds from Operations (FFO) €42.2m €37.3m +13.3% Funds from Oper
Slide 21: Funds from operations (FFO)
Funds from operations (FFO) in k€ 9M 2023 9M 2022 Change Comments 1 Income from rents and leases 66,233 63,196 +4.8% ▪1 Increase in income from rents and leases mainly Income from passed on costs 11,989 10,569 +13.4% due to property additions and indexation effects Operating expenses -15,394 -13,811
Slide 22: EPRA NAV & NTA
EPRA NAV & NTA NAV development 2023 €964.8m -€38.2m +€42.2m -€91.2m +€0.6m +€0.9m -€3.6m €875.5m -€0.3m €875.2m NAV Dividend FFO Like-for-like Disposals Acquisitions1 Other effects NAV Intangible NTA 31 Dec. 2022 Revaluation 30 Sept. 2023 Assets 30 Sept. 2023 NAV/share NAV/share NTA/share -9.3% €11.
Slide 23: Financial situation
Financial situation Expiration of financial liabilities (as of30 (as of 31September December 2021) 2023) 56.5% REIT equity ratio 42.4% 1.8% LTV 9.5x Net debt/EBITDA1 20.2% 5.7x 16.5% EBITDA/Interest coverage 13.4% 12.9% 12.5% 8.3% 7.4% €696.5m Financial liabilities 2.8% 3.1% 1.2% 2023 2024 2025 2026
Slide 24: Guidance update full-year 2023
Guidance update full-year 2023 €88.0m – €89.0m Rental income €53.0m – €54.0m (previously €51.0 - €53.0m) FFO 7.0% – 12.0% below previous year‘s level NAV per share Financials | 24
Slide 25: 5. Sustainability / ESG
5. Sustainability / ESG Office property Neu-Isenburg
Slide 26: ESG organization
ESG organization Supervisory Board Internal Sustainability Management ▪ Advising and monitoring Management ▪ Sustainability Committee Supervisory consisting of Management Board ESG/ Management Board of Management Board Board Sustainability Board members and the ESG Officers ESG Committee from indivi
Slide 27: ESG strategy
ESG strategy Strategic development and guidelines Key Action Areas ▪ Integration of sustainability/ESG criteria into overall strategy ▪ Implementation of strategic sustainability programme ▪ Planning and controlling of sustainability activities by internal Corporate Environmental sustainability comm
Slide 28: ESG management | Selected activities in key action areas
ESG management | Selected activities in key action areas Key Action Area Selected activities 2023 ▪ Ongoing data management optimisation and database expansion ▪ Extension of carbon footprinting on company and portfolio level Environmental Management & Climate Protection ▪ Development of decarbonisa
Slide 29: ESG KPIs
ESG KPIs Key environmental KPIs 2022 (like for like) Emission data 2022 (Scope 1-3, like for like) Total energy intensity Water Waste Emission intensity (Heating & Electricity) intensity intensity Total portfolio 167.9 kWh/m² 360.4 l/m² 27.6 kg/m² 51.0 kg CO2e/m² -2.4% +23.6% +0.8% -10,3% like-for-l
Slide 30: 6. Appendix
6. Appendix Retail Lengerich
Slide 31: Portfolio Rotation
Portfolio Rotation Transactions since strategy update in July 20201 Implementation of adjusted strategy 24 disposals since strategy update in 2020 Portfolio as of 30 June 2020 Portfolio as of 30 September 2023 Total sales volume of €200.6 with 3.7% Assets 83 Assets 67 premium to latest fair values P
Slide 32: Top-10 properties (1/2)
Top-10 properties (1/2) Mannheim Munich Cologne Berlin Karlsruhe Asset type Retail Office Office Office Retail Year of acquisition 2016 2013 2017 2013 2012 Purchase price €80.0m €40.2m €49.0m €33.0m €37.0m Fair value1 €76.1m €69.7m €68.4m €68.4m €53.2m Annual rents €4.1m €2.8m €3.1m €2.8m €2.6m WALT
Slide 33: Top-10 properties (2/2)
Top-10 properties (2/2) Hanau Aachen Celle Hallstadt Tübingen Asset type Retail Office Retail Retail Retail Year of acquisition 2017 2020 2015 2017 2012 Purchase price €37.5m €37.4m €35.2m €40.4m €22.2m Fair value1 €45.9m €40.7m €40.6m €40.4m €35.6m Annual rents €2.2m €2.3m €2.0m €2.6m €1.8m WALT(1)
Slide 34: Financial Calendar
Financial Calendar Provisional figures for 2023 8 February 2024 Quarterly financial statement Q1 2024 23 April 2024 Annual Report 2023 14 March 2024 Annual General Meeting 25 April 2024 Appendix | 34
Slide 35: Contact
Contact Niclas Karoff Sarah Verheyen CEO/CFO COO/CIO E-Mail: n.karoff@hamborner.de E-Mail: s.verheyen@hamborner.de Christoph Heitmann HAMBORNER REIT AG Head of IR & PR www.hamborner.de info@ir.hamborner.de E-Mail: c.heitmann@hamborner.de +49 (0)203/54405-32 Appendix | 35
Slide 36: Disclaimer
This presentation has been prepared and/or issued by HAMBORNER REIT AG (hereinafter "HAMBORNER") solely for information purposes. This presentation may contain statements, assumptions, opinions and predictions about the anticipated future development of HAMBORNER ("forward-looking statements") that
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