Corestate Capital Holding Sa · XETR:CCAP
Corestate Capital Holding Sa — H1 2020 Earnings Presentation
11 slides from Corestate Capital Holding Sa's earnings presentation, Aug 11, 2020
Slide 1: H1-2020 Results
H1-2020 Results Presentation – Conference Call for Analysts & Investors, 11 August 2020 Lars Schnidrig, CEO & 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 based € = Euro 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 Q2-2020
Highlights of Q2-2020 Operations Considerably Impacted by COVID-19 Pandemic ▪ General market uncertainty and restraints lead to slow-down in RE transactions in April and May, since June markets recover gradually with focus on lower risk-return profiles ▪ Minor organic RE AuM growth in Q2 of +1.2% ▪
Slide 4: COVID-19 Accelerates Group’s Strategic Re-Positioning
COVID-19 Accelerates Group’s Strategic Re-Positioning COVID-19 as Catalyst for Enhanced Market Approach Shift of Investment Focus ▪ Consistent changes in product offerings with high focus on core/core+ Risk ▪ Examples of current product range: residential in B-cities, 2019 2020 logistic, student hou
Slide 5: Assets under Management on Record High
Assets under Management on Record High Assets under Management Sourcing pipeline ▪ +3.4% net organic growth in RE AuM in H1-2020 ▪ Deal pipeline impacted by COVID-19, but ▪ Planned decrease in non-Real Estate AuM of € 0.3bn showing signs of recovery ▪ High percentage in advanced contractual status €
Slide 6: Real Estate Debt Shows Robust Performance Through the Crisis
Real Estate Debt Shows Robust Performance Through the Crisis Uses of Mezzanine Funds at the End of H1-2020 ▪ Total committed fund volume: c € 1.3bn Retail Residential ▪ # of financed projects: 63 71% 15% ▪ Ø size of mezzanine financing: c € 21m 63 projects ▪ Very high demand from developers Office 1
Slide 7: COVID-19 Leads to Significant Shifts in Fee Pattern
COVID-19 Leads to Significant Shifts in Fee Pattern H1-2020 Revenue Split-Up in m€ (H1-2019) 12.1 (15.5) Acquisition rel. fees ▪ Slow-down followed by partial recovery 47.4 (40.4) Asset & property mgt. ▪ Stable performance 24.9 (23.6) Coupon particip. fee ▪ HFS shows solidity even in times of crisis
Slide 8: Changing Market Conditions Burdening Cost Structure
Changing Market Conditions Burdening Cost Structure Key P&L Figures H1-2020 in m€ Aggr. revenues 95.6 100% ▪ Higher OpEx ratio (>50%) driven by group’s fixed Expenses from RE investment mgt. -46.0 48.1% cost basis and weaker revenue lines esp. in warehousing and alignment capital Alignment capital e
Slide 9: Key Balance Sheet Figures in times
Key Balance Sheet Figures in times Debt Overview at the End of June 2020 in m€ ▪ Seasonal cash outflow in Q2 585 1) 55 Bank & ▪ Net debt reduction planned via other debt 119 (incl. € 33m in − Placements out of inventories, associates/JVs and warehousing 530 financial instruments (>€ 200m in 18-24M)
Slide 10: Outlook
Outlook 2020: High Uncertainties in Transaction Markets, but Prudent Signals for a Revival * ▪ Acquisition-based fees still with broad ranges − current expectation: Bottoming-out in Q2, recovery under way and improvement in Q4 ▪ Asset & property management fees will remain steady (incl. fees from re
Slide 11: IR Contact and Financial Calendar 2020
IR Contact and Financial Calendar 2020 Investor Contact Financial Calendar 2020 Dr. Kai G. Klinger 25 February Publication preliminary results for FY 2019 Chief Markets Officer Phone: +49 69 3535630-106 24 March Annual financial report 2019 ir@corestate-capital.com 12 May Publication results for Q1
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