Briq Properties Real Estate Investment Company · ATHEX:BRIQ
Briq Properties Real Estate Investment — FY2024 Earnings Presentation
30 slides from Briq Properties Real Estate Investment's earnings presentation, Apr 3, 2025
Slide 1: Financial Results 2024 IR Presentation
Financial Results 2024 IR Presentation April 3, 2025
Slide 2: Contents
Contents 01 Company Milestones 02 Investment Properties 03 Financial Performance 04 Return to Shareholders 05 ESG Strategy 06 Appendix
Slide 3: Company Milestones
01 Company Milestones 02 Investment Properties 03 Financial Performance 04 Return to Shareholders 05 ESG Strategy 06 Appendix
Slide 4: Company Milestones
Company Milestones Agreement for the Merger by Completion of absorption of the Merger with Listed on Intercontinental ICI Athens Stock SCI of € 50 m International GAV post Exchange through public REIC (ICI) with € acquisition: offering 78 m NAV €285 m Oct 2016 Jul 2017 2018 Dec 2019 2020 2021 Feb 20
Slide 5: Successful merger completion in 2024
Successful merger completion in 2024 No of Gross Asset Value Gross building area properties (GAV) (GBA) 57 € 285 m 218.000 sqm as of 31.12.2024 as of 31.12.2024 as of 31.12.2024 Annualized Adj(1) EBITDA Adj(1) Net Profit Shareholders’ structure Revenues € 13,0m € 7,4m as of 31.12.2024 € 21m FY 2024
Slide 6: Investment Properties
01 Company Milestones 02 Investment Properties 03 Financial Performance 04 Return to Shareholders 05 ESG Strategy 06 Appendix
Slide 7: Portfolio size almost doubled
Portfolio size almost doubled 91% Portfolio Growth in 2024 ❑ Merger with ICI: On H1 2024, the acquisition GAV (€m) of 17 properties from ICI was completed at a 284,8 300,0 53,4 10,5 total acquisition cost of € 61,2m (including 250,0 61,2 10,8 costs). On 23.12.2024, the merger was 200,0 148,9 complet
Slide 8: Portfolio diversification increased
Portfolio diversification increased GAV breakdown by sector (as at 31.12.2024) Thessaloniki Retail 2 Retail Hotels 26% Special 1 Special Use Building 12% Use Volos 2% Corfu 1 Hotel 1 Office & Mixed Use € 285 m 1 Retail 1 Office & Mixed Offices Use Logistics 31% 29% Attica & Piraeus Levadia 17 Office
Slide 9: Revenues increased by 72%
Revenues increased by 72% (Amounts in € millions) 35% further revenue increase capacity for 2025 € 21 m 72% Revenue increase vs 2024 Annualized rental income (as 31.12.2024) 21,3 6,0 yrs 25,0 15,7 Weighted Avg Unexpired Lease Term (WAULT) 20,0 5,7 0,9 15,0 9,1 10,0 99,6% 5,0 occupancy rate 0,0 Renta
Slide 10: High gross yields across the portfolio
High gross yields across the portfolio 14,0% 12,7% 12,0% 12,0% 10,1% 10,0% 9,1% 9,2% 9,2% 8,6% 8,0% 7,6% Healthy portfolio 8,0% 7,0% 7,0% 6,1% gross yield 6,0% at 7,6% (1) 4,0% 2,0% 0,0% Office & Mixed Logistics Retail Hospitality Special Use Total Use Gross Yield on Fair Value % (1) Gross Yield on
Slide 11: Key properties in the portfolio
Key properties in the portfolio Aspropyrgos, Attica Attiki Odos, Exit 3, Mandra, Attica Kifisias Avenue 266, Chalandri Herakleion, Crete Type: Logistics Type: Logistics Type: Office Type: Retail GBA m 2 GBA m2 GBA m2 GBA m2 (Gross Building 44.492 (Gross Building 58.642 (Gross Building 5.255 (Gross B
Slide 12: Financial Performance
01 Company Milestones 02 Investment Properties 03 Financial Performance 04 Return to Shareholders 05 ESG Strategy 06 Appendix
Slide 13: Group P&L 2024 – adjusted
Group P&L 2024 – adjusted BriQ Properties (Group) FY 2024 FY 2023 Δ y-o-y (amounts in € millions) ✓ Revenue increased by 72% to € 15,7 m mainly due to Rental Income 15,7 9,1 72% 17 properties purchased from ICI in 2024 Direct property related expenses (1,1) (0,9) ✓ Adj.(1) EBITDA increased by 89% to
Slide 14: Significant growth in all KPIs
Significant growth in all KPIs (Amounts in € millions) (Amounts in € millions) Revenue Adj.(1) EBITDA 18,0 14,0 +89% 13,0 15,7 16,0 +72% 12,0 14,0 10,0 12,0 +14% +19% 9,1 8,0 6,9 10,0 +32% 8,0 +38% 5,8 8,0 +65% 6,1 6,0 +87% 4,2 6,0 3,7 4,0 2,2 4,0 2,0 2,0 0,0 0,0 2020 2021 2022 2023 2024 2020 2021 2
Slide 15: Cost optimization remains a top priority
Cost optimization remains a top priority (Amounts in € millions) Total cost development 7,00 35,0 30,5% 6,00 28,5% 30,0 ▪ Improved earnings performance 5,00 24,7% 25,0 from increasing economies of 4,00 17,3% 20,0 scale and cost advantages 3,00 2,7 15,0 2,3 2,2 1,8 ▪ Lowest Cost Ratio between Greek 2
Slide 16: Leverage & Equity increased
Leverage & Equity increased (Amounts in € millions) ✓ Equity increased 40% and NAV / share 12% Balance Sheet 31.12.2024 31.12.2023 ✓ Debt increased to € 128,6 m as the merger by GAV 284,8 148,9 absorption with ICI was financed 100% by debt Cash & equivalents 7,3 2,8 ✓ LTV as 31.12.2024 at 45,2% Debt
Slide 17: Return to Shareholders
01 Company Milestones 02 Investment Properties 03 Financial Performance 04 Return to Shareholders 05 ESG Strategy 06 Appendix
Slide 18: Share Perfomance 2024 - YTD 2025
Share Perfomance 2024 - YTD 2025 ▪ Share Price at 02.04.2025: € 2,59 Share Price Jan 2024 - March 2025 ΒriQ: + 37,4% 40,00% ▪ Discount to NAV 31.12.2024: 25% 35,00% ΓΔ: 30,7% 30,00% ▪ 37,4% increase vs 01.01.2024 25,00% ▪ 21,0% increase vs 01.01.2025 20,00% ▪ Outperformed the general index and peers
Slide 19: Stable Dividend Policy on Increasing Returns
Stable Dividend Policy on Increasing Returns Dividend Yield 0,1045 per € 0,1350 ▪ Proposed dividend of € 0,135 / share 0,16 0,1046 € per share 6,0% share DEC 2019: Share per share ▪ +29% per share vs last year 0,14 Capital Increase 5,0% 0,12 of €50Μ at 2,10 ▪ Total amount of € 6,0 m per share 0,075
Slide 20: Voluntary Scrip Dividend Program
Voluntary Scrip Dividend Program Board of Directors decided to propose to the AGM a Scrip Dividend Program Key Benefits of the Scrip Dividend Program ▪ Main terms and timeline to be announced with the Invitation of AGM of 29.05.2025 ✓ Alternative option for financing investments or the ▪ Program nee
Slide 21: ESG Strategy
01 Company Milestones 02 Investment Properties 03 Financial Performance 04 Return to Shareholders 05 ESG Strategy 06 Appendix
Slide 22: Sustainability Progress – ESG ACTIONS 2024
Sustainability Progress – ESG ACTIONS 2024 Sustainability Reporting & ESG Transparency Environmental Action o BriQ Properties was the first REIC to be included in the ATHEX ESG Index o In 2024, finalized a Gap Analysis of the property portfolio, which identified of the Athens Stock Exchange in 2021.
Slide 23: Implementing a Digital Transformation Strategy
Implementing a Digital Transformation Strategy ❑ Increasing productivity through implementation of new technology ❑ Data-driven decision making Software Innovators and Solutions Providers ✓ ERP systems: SAP and ELO Streamlined accounting and efficient financial approvals. ✓ Asset Management Software
Slide 24: BoD Executive competence
BoD Executive competence Theodore Fessas Eleni Linardou Anna Apostolidou Apostolos Georgantzis President – Non-Exec.Member Independent Non-Exec. Vice CEO – Exec. Member Exec. Member Founder and major President 17 years of RE experience CEO of Quest Holdings shareholder of Quest Holdings Experienced
Slide 25: Corporate Governance pillars
Committed to best corp. governance practices ▪ BoD 2024, elected by General Assembly of 27.04.2023, comprises of eight (8) members BoD on 31.12.2024: Accepted resignation of Mr. Efstratios Papaefstratiou, appointed Mr. Stephanos Karaiskakis BoD as Independent Non-Executive Member, and Ms. Eleni Lina
Slide 26: Appendix
01 Company Milestones 02 Investment Properties 03 Financial Performance 04 Return to Shareholders 05 ESG Strategy 06 Appendix
Slide 27: Results 2024 (audited, IFRS)
Results 2024 (audited, IFRS) Group Company 01.01.2024- 01.01.2023 – 01.01.2024- 01.01.2023– 31.12.2024 31.12.2023 31.12.2024 31.12.2023 Rental income 15.684 9.104 12.670 6.274 Changes in fair value of property investments 10.486 8.110 8.280 7.565 Gain from fair value adjustments on ICI's 11.363 - 11
Slide 28: Balance Sheet 31.12.2024 (audited, IFRS)
Balance Sheet 31.12.2024 (audited, IFRS) Group Company 31.12.2024 31.12.2023 31.12.2024 31.12.2023 Investment properties 277.400 147.518 233.390 105.799 Participation in Subsidiaries - - 30.855 31.356 Tangible fixed assets 1.491 1.547 1.379 1.421 Right-of-use assets 3 23 3 23 Intangible assets 9 1 9
Slide 29: Disclaimer
Disclaimer Important Notice of Confidentiality and Disclaimer of Liability THIS DOCUMENT MAY ONLY BE USED IN CONJUNCTION WITH AND SUBJECT TO THE TERMS OF THIS NOTICE By having access to these materials (the “Materials”) by any means, you agree to the following: The Materials have been prepared by BR
Slide 30: Thank You
Thank You If you wish to receive news and announcements of our Company, please subscribe here or send us an email at ir@briqproperties.gr Website: www.briqproperties.gr 30
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