Barcino Property Socimi Sa · BME:YBAR
Barcino Property Socimi Sa — Corporate Update (February 2023)
22 slides from Barcino Property Socimi Sa's corporate update, Feb 21, 2023
Slide 1: Información privilegiada: cierre no concluido de la venta de participación
Barcelona, 21 de febrero de 2023 En virtud de lo previsto en el artículo 17 del Reglamento (UE) nº 596/2014 sobre abuso de mercado y el artículo 226 y concordantes del texto refundido de la Ley del Mercado de Valores, así como en la Circular 3/2020 del segmento BME Growth de BME MTF Equity, Barcino
Slide 2: Información privilegiada (continuación): novación del contrato de gestión
(ii) eliminar el importe a percibir por la Sociedad Gestora en concepto de comisión de rendimiento (Performance Fee) para los activos existentes en la cartera a fecha 31 de diciembre de 2022; (iii) eliminar el compromiso de exclusividad y no competencia; (iv) extender la finalización del plazo de du
Slide 3: Barcino Property SOCIMI, S.A. Strategic Update February 2023
BARCINO PROPERTY SOCIMI, S.A. STRATEGIC UPDATE FEBRUARY 2023
Slide 4: Disclaimer
2 - BARCINO PROPERTY SOCIMI, S.A. DISCLAIMER This presentation (the “Presentation”) has been prepared by Barcino Property SOCIMI, and future events could differ materially from those anticipated in such statements. S.A. (“Barcino”) and Vistalegre Property Management, S.L., –the Barcino’s managing Ac
Slide 5: Table of Contents
3 - BARCINO PROPERTY SOCIMI, S.A. TABLE OF CONTENTS 01/ Strategic update 06/ Remaining capex New strategic H1 2022 02/ initiatives 07/ profit & loss Guidance H1 2022 balance 03/ 2023-2024 08/ sheet LFL revenue RICS valuation and 04/ evolution 09/ NAV per share 05/ Occupancy 10/ Appendix
Slide 6: 01/ Strategic Update
4 - BARCINO PROPERTY SOCIMI, S.A. 01/ STRATEGIC UPDATE In June 2022, Barcino Property Socimi, S.A. announced that a majority of shareholders of the Company wished to divest their shareholding in Barcino and had engaged a financial advisor to manage the process Given market conditions this process ha
Slide 7: 02/ New Strategic Initiatives
5 - BARCINO PROPERTY SOCIMI, S.A. 02/ NEW Next steps focused on cashflow generation and STRATEGIC delivering dividends to shareholders: INITIATIVES Focus on consolidating existing portfolio: ! Further revenue optimisation ! Significant cost reduction efforts ! Completion of last remaining stages of
Slide 8: 02/ New Strategic Initiatives (governance)
6 - BARCINO PROPERTY SOCIMI, S.A. 02/ NEW STRATEGIC INITIATIVES Governance structure: ! Vistalegre Property Management to be led and managed by its sole Director, who will continue to be responsible for the day to day running of Barcino ! Key decisions to continue to require approval by advisory com
Slide 9: 03/ Guidance 2023-2024
7 - BARCINO PROPERTY SOCIMI, S.A. 03/ GUIDANCE 2023-2024 Gross Operating Income expected to be €2.4-2.6m in 2023 and €2.2-3.4m in 2024 depending on the number of disposals EBITDA expected to be €1.3-1.4m in 2023 and €1.3-2.2m in 2024 depending on the number of disposals The summary figures above are
Slide 10: 04/ Like-for-Like Revenue Evolution
8 - BARCINO PROPERTY SOCIMI, S.A. 04/ LIKE-FOR LIKE REVENUE EVOLUTION Strong recovery in short and mid-term rents with c.40% overall yoy growth Gross operating income per type of contract € 1.400.000 Commercial +138% Long - Term € 1.200.000 Mid - Term Short - Term € 1.000.000 +99% +31% = like-for-li
Slide 11: 05/ Occupancy
9 - BARCINO PROPERTY SOCIMI, S.A. 05/ OCCUPANCY Occupancy at record levels following initial impact of COVID Barcino Property - Occupancy rate COVID PANDEMIC 100% 98% 96% 94% 92% 90% 88% 86% 84% 82% 80% 78% 2019 2020 2021 2022 E Note: occupancy based on number of units that are rentable 2022 are est
Slide 12: 06/ Remaining Capex
10 - BARCINO PROPERTY SOCIMI, S.A. 06/ REMAINING CAPEX Currently remaining expected capex for 3 last buildings requiring full refurbishement is of c.€3.1m. Capex costs have increased substantially post-covid driven by inflation There are still life leases and long-term lease units that may benefit f
Slide 13: 07/ H1 2022 Profit & Loss
11- BARCINO PROPERTY SOCIMI, S.A . 07/ H12022 PROFIT & LOSS BARCINO PROPERTY Gross operating income: General and administrative costs InEUROS H12022 H12021 Var22/21% - Increase insalesof €132k,+17%yoy - Legal costs up €25k,this mainly due to a reprofiling of legal costs so that they are charged more
Slide 14: 08/ H1 2022 Balance Sheet
12 - BARCINO PROPERTY SOCIMI, S.A. 08/ H1 2022 Balance sheet as of 30 june 2022 (in Euros) BALANCE SHEET ASSETS 30/6/2022 31/12/2021 1 A) NON-CURRENT ASSETS 36,220,090 35,380,500 1.1 I. Intangible fixed assets 2,204 630 1.2 II. Property, plant and equipment 1,341 387 1.3 III. Investment property 36,
Slide 15: 09/ RICS Valuation and NAV per Share
13 - BARCINO PROPERTY SOCIMI, S.A. 09/ RICS VALUATION AND NAV PER SHARE RICS valuation of underlying assets has been fairly stable despite challenging market conditions NAV per share of €1.68 at year end based on RICS valuation RICS VALUATIONS (in million Euros) € 56 € 55.1 CONCEPT AMOUNT (€) € 55 3
Slide 16: 10/ Appendix
BARCINO PROPERTY SOCIMI, S.A. 10/ APPENDIX
Slide 17: Barcino at a Glance
15 - BARCINO PROPERTY SOCIMI, S.A. BARCINO AT A GLANCE 1 14 Barcino is unique investment vehicle offering strong exposure to City / Geographical Assets Core Spanish residential assets area Barcino Property’s overview 14,400 174 Gross square meters Units 1 ! Barcino is a publicly traded Spanish REIT
Slide 18: Geographical Footprint (1/2)
16 - BARCINO PROPERTY SOCIMI, S.A. 4 GEOGRAPHICAL BERGA FOOTPRINT (1/2) The Barcino porfolio is mostly located in central Barcelona 8 2 GIRONA BUENOS AIRES 13 assets 1 asset JOAQUÍN COSTA 5 are located in is located next to 12 SEPÚLVEDA central Barcelona Barcelona in L’Hospitalet LLUNA de Llobregat
Slide 19: Geographical Footprint (2/2)
17 - BARCINO PROPERTY SOCIMI, S.A. GEOGRAPHICAL FOOTPRINT (2/2) 1 2 3 4 5 6 7 C. Vistalegre C. Buenos Aires P. Montjuïc C. Berga C. Sepúlveda C. P. Cabanyes C. Sant Bertran Barcelona L’Hospitalet de Barcelona Barcelona Barcelona Barcelona Barcelona Ciutat Vella district Llobregat Sants-Montjuïc dist
Slide 20: Interim Statement of Profit or Loss for the Six-Month Period
18 - BARCINO PROPERTY SOCIMI, S.A. INTERIM STATEMENT STATEMENT OF PROFIT OR LOSS 1. Revenue 30/06/2022 915,970.95 30/06/2021 783,364.17 OF PROFIT OR LOSS Real estate leases 5. Other operating income 915,970.95 12,917.58 783,364.17 9,621.61 FOR THE SIX-MONTH Other operating income 6. Staff costs 12,9
Slide 21: Contacts
19 - BARCINO PROPERTY SOCIMI, S.A. CONTACTS Josep Turró President of the Advisory Committee | Barcelona jturro@vistalegrepm.com Laura Turró COO | Barcelona lturro@vistalegrepm.com Olga Sevillano CFO | Barcelona osevillano@vistalegrepm.com
Slide 22: Barcino Property SOCIMI, S.A. Strategic Update February 2023
BARCINO PROPERTY SOCIMI, S.A. STRATEGIC UPDATE FEBRUARY 2023
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