Irish Residential Properties Reit Plc · EURONEXT:IRES
Irish Residential Properties Reit — H1 2019 Earnings Presentation
17 slides from Irish Residential Properties Reit's earnings presentation, August 2019
Slide 1: 2019 Interim Results - Conference Call
Irish Residential Properties REIT plc August 2019 2019 INTERIM RESULTS- CONFERENCE CALL 1
Slide 2: Cautionary Statements
DISCLAIMER Cautionary Statements This presentation has been prepared by Irish Residential Properties REIT PLC (the “Company” or “I-RES”) for information purposes only. This presentation has been prepared in good faith but the information contained in it has not been independently verified and does n
Slide 3: Highlights 2019 / Financial Results / Growth Strategy / Outlook / Appendix
Highlights 2019 Financial Results H1, 2019 Growth Strategy Positive Outlook Appendix – Portfolio Details 2019 Interim Results – Conference Call Irish Residential Properties REIT plc 3
Slide 4: Highlights H1, 2019
Highlights H1, 2019 Strong financial performance in the first six Funding Strategy months New Syndicated Revolving Credit Facility o C.18% increase in Net Rental Income and Earnings o EPRA EPS up 12.9% to 3.5 cents (30 June 2018: 3.1 o €450m Facility finalised in April 2019 cents.) o RCF increased t
Slide 5: I•RES REIT Financial Results H1, 2019
Revenue from Investment Properties Net Rental Income (€ millions) (€ millions) I•RES REIT Financial Results H1, 2019 29 24 27 23 Operating Performance 27.8 22 22.7 2019 2018 25 21 For the period ended 30 June 23 20 24.1 21 19 Revenue from Investment Properties 21.7 19.3 27.8 24.1 18 (€m) 19 17 17 16
Slide 6: Strong Financial Position
Strong Financial Position 30 June 2019 31 December As At 2018 Total Property Value € 989.5m € 921.3m Net Assets € 705.5m € 618.7m EPRA Net Assets € 707.0m € 619.6m Basic NAV per share (cents per 147.7 142.5 share) EPRA NAV per share (cents 146.9 142.0 per share) Group Total Gearing 38.6% 33.6% The C
Slide 7: Funding
Funding • Successfully completed a placing of 86,550,000 new Ordinary Shares in the Company with gross proceeds of c. 134M • Price : €1.55 per Placing Share, • Tranche I: 43,415,394 issued 18 June 2019 • Tranche II: 43,134,606 issued on 10 July 2019 • Entered in a new Credit Facility • Date: April 2
Slide 8: I•RES REIT Growth Strategy
I•RES REIT Growth Strategy Multi-Channel Growth Strategy to Deliver Sustainable Long- Term Growth 1 2 3 Acquisition of Development Development Completed Assets Partnerships of Existing I•RES Properties • Continued evaluation of new • Forward purchase • Opportunity to add approx. acquisition opportun
Slide 9: Strong Execution on Growth Strategy
Strong Execution on Growth Strategy Hampton Wood Hansfield Wood II The Coast, Baldoyle Waterside, Swords Marathon XVI Portfolio Key: 128 units 95 units 52 units 55 units 815 units Completed acquisition • Acquisition in May 2018 for • Development agreement in • Acquisition in May ‘19 for c. • Acquisi
Slide 10: Marathon XVI Portfolio Acquisition
Marathon XVI Portfolio Acquisition1 Portfolio Transaction Highlights I•RES REIT Asset Locations in Dublin Area • A significant, diversified and income producing PRS portfolio of 815 residential units M1 Existing I•RES Properties • Comprises 16 established properties in areas with strong rental deman
Slide 11: I•RES REIT Development Pipeline
I•RES REIT Development Pipeline Development and Intensification of Existing I•RES Properties is a Core Element of Growth Strategy Development Initiatives Planning Status • During 2018, significant progress made with No. of several planning applications for development Location Residential Units Stat
Slide 12: Positive Outlook
Positive Outlook Attractive market backdrop with strong economic fundamentals and significant demand and supply imbalance, continues Three-pronged growth strategy continues to support building a leading residential rental business, with a c. 45% growth in the portfolio since Dec 2018 Our H1, 2
Slide 13: A Place to Call Home
A Place to Call Home 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc 13 2019 Interim Results – Conference Call Irish Residential Properties REIT plc 13
Slide 14: Portfolio Details
IRISH RESIDENTIAL PROPERTIES REIT plc Portfolio Details 14 14
Slide 15: Existing Portfolio
2019 Interim Results – Conference Call Irish Residential Properties REIT plc Existing Portfolio No of apartments Annualised Passing Value as at 30 June Gross Yield at Property Location Year Built Date Acquired owned1 Rent.1,2,3 20191,2 Fair Value City Centre 1 Kings Court Smithfield 2006 10-Sept-13
Slide 16: Significant, Diverse Portfolio
2019 Interim Results – Conference Call Irish Residential Properties REIT plc Significant, Diverse Portfolio 22 21 Dublin City Centre Secondary Suburbs 01 Kings Court 13 Priorsgate Smithfield D7 (83 Units) Tallaght D24 (103 Units) 15 19 02 The Marker Residence 14 The Laurels 20 Docklands D2 (85 Units
Slide 17: Slide 17
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