Slide 1: Corporate presentation Q1 2021
Corporate presentation Q1 2021 12/05/2021
Slide 2: Highlights Q1 2021, Growth Program 2021, ESG, About Montea
Highlights Q1 2021 Growth Program 2021 ESG About Montea
Slide 3: Highlights Q1 2021
Highlights Q1 2021 ✓ Montea adjusts growth ambition towards € 1.600 million by the end of 2021 ▪ Growth of the real estate portfolio by € 450 million compared to 2019 (partly due to revaluations of the existing portfolio) ✓ Launch of ESG report: our medium-term sustainability strategy with the ambit
Slide 4: Highlights Q1 2021
Highlights Q1 2021 ✓ Strong fundamentals ▪ Controlled debt ratio of 36,3% ▪ High occupancy rate of 99,4% ▪ 7,5-year lease term until first expiry ▪ Qualitative & diversified portfolio ✓ Tackling customer challenges together through balanced solutions ▪ Case by case judgement of adequate action per c
Slide 5: Total portfolio Q1 '21: € 1.451 M
Total portfolio Q1 ‘21: € 1.451 M Overview of FV Portfolio (€ M) 1.451 € 1.370 M € 74 M Yearly rent Belgium France The Netherlands 571 Standing investments @100% occupancy 521 423 € 47 M Developments €3M Future rental income 205 326 201 174 213 134 176 109 139 € 33 M Solar panels €4M Income solar pa
Slide 6: Main Logistic hotspots
Focus area in The Netherlands is the southern part of the country, with the ‘Randstad’ (Amsterdam, Rotterdam, Den Haag, Utrecht) and Tilburg-Breda as most important contributors. The ports of Rotterdam & Antwerp (in Belgium) are considered as the Gateway to Europe to supply the continent. Focus area
Slide 7: Belgium: € 640 M portfolio
Main Logistic hotspots Antwerp Ghent Brussels Liège Charleroi BE 34 722 € 640 M € 36 M 5,6% 100% 47% Gross yield Sites sqm (‘000) Fair Value Yearly Rent (incl. ERV unlet) Occupancy Share 7
Slide 8: Netherlands: € 528 M portfolio
Main Logistic hotspots Amsterdam Rotterdam Tilburg NL 23 543 € 528 M € 28 M 5,2% 100% 39% Gross yield Sites sqm (‘000) Fair Value Yearly Rent (incl. ERV unlet) Occupancy Share 8
Slide 9: France: € 202 M portfolio
Main Logistic hotspots Lille Paris Lyon Marseille FR 18 220 € 202 M € 11 M 5,7% 97% 14% Gross yield Sites sqm (‘000) Fair value Yearly Rent (incl. ERV unlet) Occupancy Share 9
Slide 10: Portfolio Roll Forward
Portfolio Roll Forward Continuous arbitration of portfolio (e.g. € 85 M disposals in the last 6 years) Leading to exceptional portfolio KPI’s 7,5y 7,5y Sites 8,2y 99,4% Residual lease Average portfolio Occupancy rate term age 5,5% Gross yield (incl. ERV unlet, at 100% occupation) 10
Slide 11: Significant events Q1 2021
Significant events Q1 2021 Antwerp Port of Zeebrugge (Port + Airport) Port of Ghent Oostende Antwerp Ghent Brussels Liège Circular and climate-neutral Blue Gate industrial estate in Antwerp (BE) – Delivery Q1 2021 Start of the build-to-suit project in Q4 2019, with delivery Charleroi on 08/01/2021.
Slide 12: High qualitative client portfolio
High qualitative client portfolio ◆ Top 10 of clients represent 32% of the rental income of 2021 ◆ Top 20 of clients represent 50% of the rental income of 2021 ◆ 75% of sites are single tenant 4,6% 4,2% 3,9% 3,8% 3,1% 2,8% 2,7% 2,5% 2,5% 2,3% 12
Slide 13: Key Tenant Overview
Key Tenant Overview # Tenant % of 2021 Rental Income Sector Country of Description HQ Third Party Division of DHL Express responsible for providing air transport capacity. Refers to 1 DHL Aviation 4,6 UK Logistics several airlines owned, co owned or chartered by DHL Express. Founded in 1969 Retail –
Slide 14: High qualitative client portfolio
High qualitative client portfolio Logistics type Type of Sector 9% Low risk profile 10% 9% 19% 63% 34% 30% 11% 3% 12% Brand Logistics (end user) Network Logistics (distribution) Food & Beverage Retail Construction/Industry Contract Logistics (single client) Automotive Pharma & Medical Other Third Pa
Slide 15: Occupancy rate & rental activity
Occupancy rate & rental activity Occupancy rate (%) Portfolio Management 99,1% 99,3% 99,4% 99,4% 2021 98,1% 9% of the YE 2020 current rent has a break or 96,5% 96,6% contract end in 2021, 96,3% 96,3% 96,0% representing 95,6% 95,1% 95,0% € 6,2 M 92,9% 29% has already been extended or rented to new te
Slide 16: Land bank: potential for future developments
Land bank: potential for future developments Tiel: 47,9 ha Future development potential > 700K m² Total land bank: 1,4 mio m² Extension potential of current portfolio by > 45% Waddinxveen: 12 ha Landbank 63% Landbank Market Market Yield on Surface Value Value / m² Cost YIELDING LANDBANK 894.445 m² €
Slide 17: Strong balance sheet
Strong balance sheet Shooting Debt ratio (%) capacity: 56,4% 51,3% 52,8% 52,1% 55,8% 51,6% 51,9% 51,3% > € 600 M 50,1% 47,6% 49,9% towards 55% 39,4% 38,0% 36,3% 36,3% 31/03/2021 (without taking into account further portfolio revaluation) Target: c. 50-55% 17
Slide 18: Well diversified long term financing
Well diversified long term financing (impact of € 235 M Green Bonds included) Financing sources Maturity (y) Maturity creditlines & bonds 120 100 31% 80 69% 6,2 6,4 60 40 < 1% 20 0 MATURITY MATURITY '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32 '33 '34 '35 '36 BANKS BONDS LEASING FINANCING HEDGING
Slide 19: Green Bonds Issuance - € 235 M
Green Bonds Issuance - € 235 M ✓ Montea raises € 235 M through the issuance of Green Bonds via the US Private Placement market with six internationally renowned investors ✓ 4 tranches: ▪ € 50 million - 10-year term (maturing on 27/04/2031) - coupon: 1,28% ▪ € 30 million - 10-year term (maturing on 2
Slide 20: Financial KPI's
Financial KPI’s EPRA Cost Ratio & EPRA NIY NET DEBT / EBITDA & ICR 15,00% 12,0 8,0 13,3% 7,0 7,0 10,0 6,2 6,0 8,0 5,0 9,3% 10,00% 6,0 4,0 3,0 3,0 8,3% 4,0 7,4 6,6% 8,7 9,9 10,2 7,2 6,4 2,0 6,0% 2,0 1,0 5,5% 5,00% 0,0 0,0 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Q1-2021 EPRA Cost Ratio* EPRA
Slide 21: EPS & DPS
EPS & DPS Evolution of EPRA result per share & Dividend per share (€) (***) +22% 0,96 0,79 (*) As of 2016: EPRA result per share instead of Net Current Result (**) DPS subject to General Shareholders’ Meeting in May 2021 (***) Taking into account a one-off payment received in 2021 whereby Montea wai
Slide 22: Highlights Q1 2021, Growth Program 2021, ESG, About Montea
Highlights Q1 2021 Growth Program 2021 ESG About Montea 22
Slide 23: Adjusted Growth Program 2021
Adjusted Growth Program 2021 ✓ Montea adjusts growth ambition towards € 1.600 million by the end of 2021 . + 149 1.600 + 291 1.400 1.200 1.000 800 1.600 1.451 600 1.159 400 200 + 450 0 31-12-19 Portfolio growth 31-03-21 Portfolio growth 31-12-21 (realised) (to be realised) Portfolio volution ( in €
Slide 24: Growth Program 2021
Growth Program 2021 Overview of FV Portfolio (€M) Portfolio objectives 2021 Belgium France The Netherlands 1800 + 38% 1.600 1600 1.364 + € 450 M Portfolio growth compared to 2019 1.159 > 97% 1400 656 1200 912 521 1000 719 423 232 7,5y Residual lease term 800 326 201 552 174 600 213 400 14 73 134 135
Slide 25: Growth Program 2021
Growth Program 2021 Focus area’s in Germany are the main logistic hotspots such as Berlin, Hamburg, Bremen, Hannover, Ruhr, Köln- Düsseldorf, Stuttgart, Munchen, Nürnberg which are known as important logistic clusters with a stable demand for logistic real estate. Main Logistic hotspots 25
Slide 26: Growth Program 2021: Expanding to Germany
Growth Program 2021 Hamburg Berlin Leipzig Expanding activities to Germany Dusseldorf IMPEC Group will search for development and investment opportunities for Montea on the German Frankfurt market. Montea will act as a financial partner for these projects during the development phase as well as inve
Slide 27: Growth Program 2021: Lummen (BE)
Growth Program 2021 Antwerp Port of Zeebrugge (Port + Airport) Antwerp Port of Ghent Ghent Brussels Liège Lummen (BE) Charleroi Montea acquired the land in Q2 2019 and will develop the first carbon-free 30.000 m² building for logistical activities. The site is at a strategic location between E314 &
Slide 28: Growth Program 2021: Brussels (BE)
Growth Program 2021 Antwerp Port of Zeebrugge (Port + Airport) Antwerp Port of Ghent Ghent Brussels Liège Brussels (BE) Charleroi Montea and the Port of Brussels signed a land concession agreement for a fixed term of 30 years for a site of ca. 35.000 m². Montea and DSV have signed a purchase agreeme
Slide 29: Growth Program 2021: Etten-Leur (NL)
Growth Program 2021 Amsterdam (Port + Airport) Rotterdam (Port + Airport) Etten-Leur (NL) – Delivery Q4 2021 Rotterdam The acquired land “Vosdonk” is currently in prepara- Port of Zeeland Tilburg tion for construction of a build-to-suit project of ca. 24.500 m². Montea already invested € 5,5 M (acqu
Slide 30: Growth Program 2021: Waddinxveen (NL)
Growth Program 2021 Amsterdam (Port + Airport) Rotterdam (Port + Airport) LP A12, Waddinxveen (NL) - Delivery Q4 2021 Rotterdam Tilburg Acquisition of plot of land (120.000 m²) in Q3 2020 on Port of Zeeland a strategic location between Rotterdam & Amsterdam (near motorway A12). In a first phase, 50.
Slide 31: Growth Program 2021: Tiel (NL)
Growth Program 2021 Amsterdam (Port + Airport) Rotterdam (Port + Airport) Tiel (NL) Rotterdam In September 2018, Montea acquired a site with a total Tilburg area of 47,9 ha in Tiel, where it will start building a Port of Zeeland 9.700 m² recycle and distribution centre for Re-Match. Re-Match Nederla
Slide 32: Growth Program 2021: Solar panels
Growth Program 2021 Solar panels in The Netherlands 38% of the portfolio of warehouses in the Netherlands has already been fitted with solar panels. That percentage will be increased to 60% in 2021. An investment budget of approximately € 9,1 M is earmarked to that end. Solar panels in Belgium 81% o
Slide 33: Guidance 2021
Guidance 2021 Evolution of EPRA result per share* & Dividend per share (€) (*) As of 2016: EPRA result per share instead of Net Current Result (**) DPS subject to General Shareholders’ Meeting in May 2021 EPS DPS 33
Slide 34: Guidance 2021
Guidance 2021 Full year 2021 ◆ EPRA result per share growth 3,68 € ( +5% vs ’20 ) ◆ DPS growth 2,96 € ( +5% vs ’20 ) ◆ Occupancy rate > 97% ◆ Average residual lease term > 7,5 years ◆ Portfolio € 1.600 M 34
Slide 35: Highlights Q1 2021, Growth Program 2021, ESG, About Montea
Highlights Q1 2021 Growth Program 2021 ESG About Montea 35
Slide 36: Environmental, Social & Governance (ESG)
Environmental, Social & Governance (ESG) ✓ Environmental ✓ Sustainable ambition, long & short term ✓ Framework: UN Sustainable Development Goals (SDG) ✓ Minimum requirements ✓ Differentiation areas ✓ Social ✓ Montea employees ✓ Governance ✓ Board of Directors ✓ The articles of association of Montea
Slide 37: Environmental, Social & Governance (ESG)
Environmental, Social & Governance (ESG) Purpose We turn our expertise in logistics real estate into sustainable and long-term investments that create added value for our clients. Our sustainable ambition –> Long term Making smart investments in real estate which offer our clients well-located, well
Slide 38: Environmental, Social & Governance (ESG)
Environmental, Social & Governance (ESG) Ambition 2021 Our sustainable ambition –> Short term • Montea aspires to make its own operations CO2-neutral by the end of the year by reducing CO2 emissions (various transport options, improving energy efficiency and using renewable energy sources. • Montea
Slide 39: Environmental: 7. Affordable and clean energy
Environmental: 7. Affordable and clean energy Not the Olympic minimum and not just picking low hanging fruits on sustainable energy: we're raising the bar. Concrete actions ✓ BE: 95%, the maximum technical capacity of the current portfolio, will be equipped Photovoltaic installations ✓ FR: start ins
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Slide 41: Environmental: 8. Decent work and economic growth
Environmental: 8. Decent work and economic growth Personal growth of our employees, regardless equal opportunities for everyone and good governance. Concrete actions ✓ Training for all employees not only about competences, but also soft skills Employees ✓ Promoting a healthy working environment by f
Slide 42: Training Platform and Partnerships
24/7 Partnership Training Platform with for all employees De Kampenhoeve Partnership with “Learning chair” Dennie Lockefeer 42
Slide 43: Environmental: 11. Sustainable cities and communities
Environmental: 11. Sustainable cities and communities Efficient management of logistics in densely populated areas are key in order to deal with the challenges brought by urbanization. Concrete actions ✓ Investing in hubs for smart city distribution, for delivery via electric vans and electric cargo
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Slide 45: Environmental: 12. Responsible consumption and production
Environmental: 12. Responsible consumption and production Our planet has a limited source of raw materials. Montea focusses on a responsible way of dealing with scarce materials, land, ... Concrete actions ✓ Circular building and use of C2C-products Materials ✓ BlueGate: supply of building materials
Slide 46: Prefab construction materials transported by water at Blue Gate Antwerp
Did you know that prefab construction materials for the construction of the DHL Express Belgium building at BLUE GATE ANTWERP business park are mostly transported by water? So lesser trucks on the road and an ecofriendly way for transport,
Slide 47: Environmental: 13. Climate action
Environmental: 13. Climate action Montea subscribes to the goals to strive for climate neutrality by 2050. The legal framework will be developed in our 3 core countries in 2021 Concrete actions ✓ Longtime focus on reducing emissions throughout Lean and Green (-26%) CO2 emissions to zero ✓ Cooling au
Slide 48: Carbon Reduction plan 2021-2030
Data collection & Carbon footprint calculations 2019 – 2020 Carbon Reduction plan 2021-2030 Carbon neutral with compensation as of 2021 Carbon neutral without compensation by 2030 48
Slide 49: Social
Social Belgium Netherlands France 21 5 6 66% 16% 19% Management 8 12 25% Number of 38% employees (*) at the end of 2020 Montea Professionals 32 20 24 75% 62% (*) Employees with a permanent employment contract or as an independant service provider 49
Slide 50: Governance
Governance De Pauw family Board of directors ▪ Dirk De Pauw (chairman) 100% ▪ Jo De Wolf (CEO) (ED) Man Woman ▪ Sophie Maes (ID) Montea management NV = sole director ▪ Ciska Servais (ID) ▪ Philippe Mathieu (ID) 1 share ▪ Peter Snoeck (NED) Average age Montea NV/SA* ▪ Jean-Marc Mayeur (NED) 58 yr (Na
Slide 51: Board of Directors
Board of Directors Dirk De Pauw Jo De Wolf Peter Snoeck Chairman of the Board Executive Director Non-executive Director Chief Executive Officer He is one of the founding He holds a degree Industrial shareholders of Montea. He He holds a Master’s degree in Engineering in holds a degree Accounting and
Slide 52: Governance
Governance The articles of association of Montea NV/SA provide for A veto for the statutory director against its dismissal A veto for the statutory director against amendments to the articles of associations Authorized share capital up to EUR 159.117.963,54 A mandate for the statutory director to bu
Slide 53: Highlights Q1 2021, Growth Program 2021, ESG, About Montea
Highlights Q1 2021 Growth Program 2021 ESG About Montea 53
Slide 54: Overview
Overview Montea N.V. is a public regulated real estate company (“RREC”) under Belgian law (SIR – SIIC), specializing in the development and the management of logistics property in Belgium, France and the Netherlands (“Montea” or the “Company”). The company is a leading player in this market. Montea
Slide 55: What we do
What we do ✓ Montea literally offers its clients space to grow, through flexible and innovative real estate solutions. That is why Montea maintains an extensive network of estate agents, landowners, property developers and contractors. ✓ Montea converts its market knowledge into high-quality real es
Slide 56: Who we are
Who we are Shareholder base (based on transparency notifications) 62% ▪ Montea is the result of Pierre De Pauw’s lifework, who has been one of the Belgian pioneers in logistic real estate since the late 1960s ▪ The IPO of Montea in 2006 was the start of a strong 4% growth path 6% 5% ▪ Montea has a m
Slide 57: Share price & IFRS NAV evolution
Share price & IFRS NAV evolution (as per 10/05/2021) 100 80 IRR > 13% 55,85 60 A shareholder, who invested at the IPO (2006) and participated every time in the optional 40 dividend, realizes an IRR of > 13% on the date of publication of the Q1’21 results 20 (over 14 years). 0 Premium MONTEA Share pr
Slide 58: Organizational Structure
Organizational Structure Montea Management NV Montea NV Montea Nederland NV SFG BV Blue Gate Antwerp Invest NV Montea Services NV GTE 1 NV Montea SA (Branch Office) Europand Eindhoven BV MM1 SCI Montea Tiel NV APJ SCI Montea’s Heerenberg NV Socrate SCI Montea Beuningen NV Sevigne SCI Montea Oss NV S
Slide 59: Contact: Belgium (HQ), France, Netherlands, Germany
BELGIUM (HQ) FRANCE NETHERLANDS GERMANY Industriezone III Zuid EnTrada In coop. with Industrielaan 27 Box 6 18-20 Place de la Madeleine Ellen Pankhurststraat 1c IMPEC Real Estate Gmbh 9320 Aalst 75008 Paris 5032 MD Tilburg +32 (0) 53 82 62 62 +33 (0) 1 83 22 25 00 +31 (0) 88 2053 888 +49 (0) 6205 10