Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España Real Estate SOCIMI — Investor Presentation (November 2019)
33 slides from Helios Re Socimi's investor presentation, November 2019
Slide 1: Corporate Presentation
Corporate Presentation November 2019
Slide 2: Index
INDEX 01 02 03 04 Company Investment Financial ESG Overview Highlights Results Summary 2
Slide 3: Company Overview
O1 Company Overview RETAIL .. / Le ACTON,
Slide 4: Lar España: Real retail value
Lar España Real retail value . . First Spanish REIT to IPO on the Spanish Stock Exchange with an 16 €1,562 Mn 579,014 outstanding quality, dominant and 100% owned portfolio. Assets Gross Asset Value sqm GLA Focused on creating both sustainable income and strong capital growth for shareholders. Solid
Slide 5: Company structure & shareholder overview
Company structure & shareholder overview Independent and experienced Board: Shareholder Overview 5 independent directors (out of 7) José Luis del Valle Roger Cooke Leticia Iglesias Other investors PIMCO 47.0% 20.0% Chairman and Independent Independent Independent Director Director Director Alec Emmo
Slide 6: Major corporate milestones in 2018 & 9M 2019
Major corporate milestones in 2018 & 9M 2019 Constantly seeking and executing value creating opportunities FEB APR JUN AUG OCT DEC APR JUN NOV Rivas Futura AGM +34% Galaria Investor Day +40% AGM +45% Lagasca99 Acquisition Asset Retail Park Asset Revaluation since Acq. Asset Fully Sold €0.49 p.s. Rev
Slide 7: Investment Strategy focused on retail
Investment Strategy focused on retail Unique shopping centres & retail parks with growth potential SHOPPING CENTRES & RETAIL PARKS KEY INVESTMENT CRITERIA Dominant in its Value-creation Core+ catchment areas potential 100% Target levered ownership IRR>12% Unique exposure to real estate retail assets
Slide 8: The value of a retail platform
The value of a retail platform Main SSCC market players by owned GLA Lar España has consolidated its position among the top retail operators in Spain. Now, the target is to selectively increase GLA to generate revenue synergies Owned GLA (est.) # Shopping Nbr. Assets Centres Avg. GLA ownership per a
Slide 9: Strong Transformation + Innovation
Strong Transformation + Innovation TRANSFORMATION STRATEGY DIGITAL INNOVATION Customer Tenant Big Data Full Connectivity journey mix Customer Webs analysis enhancing Intelligence APPS WIFI Social Media Capex and On-site shopping Market Place Seeketing improvement centre intensive Click & Collect Mar
Slide 10: Not all retail is equal
Not all retail is equal Active management is key to be the reference in each market Footfall 9M 2019 Sales 9M 2019 Rental uplift from reletting activity Recurrent growth rates in new rents from re-tenanting 49.8 Mn visits €529.2 Mn Vs 9M 2019 +11.1% +2.4%2 +2.2%2 +8.0% +1.1%3 (1.2%)1 9M 2018 9M 2019
Slide 11: Adding value to our portfolio with the latest retail trends
Adding value to our portfolio with the latest retail trends Through our developments and refurbishments LAGOH AS TERMAS SUCCESSFULLY OPENED IN Lagoh: AS TERMAS REFURBISHMENT SEPTEMBER 2019 WITH RENTAL FEEL AT HOME INCOME ABOVE ESTIMATES the future is here ✓ Renovated image +15% RETAIL 17.2 ✓ Sustain
Slide 12: External manager: A real estate reference
External manager: A real estate reference Grupo Lar now owns Investment Management a 11.1% stake Agreement in Lar España, subject to a lock-up period Manager New IMA signed in 2018 Grupo LAR Key Facts 1 Family-owned Company +50Y of experience Retail Offices 39 Shopping centres invested, 9 Office bui
Slide 13: Investment Highlights
02 Investment Highlights 13
Slide 14: Investment highlights: Income generation as the main driver
Investment highlights Income generation as the main driver 1 3 5 7 Positive Attractive Highly attractive operational Best-in class dividend policy income profile trends driving manager + SBB growth programmes 2 4 6 8 Selective capex Leading the ESG through a Focused and & development digital respons
Slide 15: Highly attractive income profile; Focused and unique offering
Lar España Investment highlights 1 Highly attractive income profile 2 Focused and unique offering The only listed Spanish REIT in the continuous market A resilient portfolio of dominant shopping centres in First IPO of a €114 Mn rent offering pure-play exposure to an attractive portfolio attractive
Slide 16: Positive operational trends; Selective capex & development
Lar España Investment highlights 3 Positive operational trends driving growth 4 Selective capex & development deliver enhanced income growth Strong results Strong rental growth with a +1.8% increase in LfL GRI Smart mix of from active VidaNova Parc successfully opened, with sales above and +2.0% in
Slide 17: Best-in class manager; Leading the digital transformation
Lar España Investment highlights 5 Best-in class manager 6 Leading the digital transformation: TES Project (technology, engagement and sustainability) Technology improves customer experience, by Omnichannel combining physical and digital strategies. It also helps European JVs strategy Managed by Gru
Slide 18: Attractive dividend policy + SBB programmes; ESG
Lar España Investment highlights 7 Attractive dividend policy + SBB programmes 8 ESG through a responsible management of our assets 100% Ordinary dividend: 10.7% Environmental: Responsible management, shopping 5% of NAV dividend yield sustainability certifications, environmental awareness centres ov
Slide 19: Financial Results 9M 2019
03 Financial Results 9M 2019 19
Slide 20: Strong operational results in 9M 2019
Strong operational results in 9M 2019 +12.8% +131.8% Portfolio revaluation LfL Lagoh revaluation €11.40 +9% +19% since Dec 2018 since Dec 2018 EPRA NAV p.s.1 EBITDA EPRA Earnings p.s. RESULTS vs 9M 2018 vs 9M 2018 +54.6% +45.7% +10%2 Portfolio revaluation LfL Lagoh revaluation vs 31 Dec 2018 since a
Slide 21: Lar España performance: A story of growth
Lar España performance A story of growth Retail Occupancy Rate RETAIL GAV (€ Mn) Retail GAV 98% Total GAV Revaluation since acquisition 96% 1,199 1,376 1,552 96% 95% 95% 94% 962 55% 94% 92% 614 40% 92% 24% 90% 4% 14% Q4 2015 Q4 2016 Q4 2017 Q4 2018 Q3 2019 2015 2016 2017 2018 Sep 2019 Retail EPRA to
Slide 22: Successful & strong financial key figures delivered in 9M 2019
Successful & strong financial key figures delivered in 9M 2019 16 €57.8 Mn +1.8% LfL1 Assets GRI vs 9M 2018 €1,562 Mn €37.8 Mn +9% €1,010.6 Mn 12.9% GAV EBITDA vs 9M 2018 EPRA NAV ROE 579,014 €671.4 Mn 2.2% €11.42 7.5% GLA sqm Financial debt Cost of Debt EPRA NAV per share ROA €92 Mn €516.2 Mn 33% 5
Slide 23: Solid retail performance driven by robust operating results
Solid retail performance driven by robust operating results in 9M 2019 Retail yields Operating results Commercial activity Potential growth 6.2% +1.8% +2.0% LfL GRI1 LfL NOI1 €7.2 Mn 42,060 sqm Negotiated rent Rotated area 5.9% +30.5% (16.6)% Turnover rent1 Lease incentives1 5.6% 99 +11.1% 96.0% Ope
Slide 24: Lar España Asset Appraisal
Lar España Asset Appraisal Developments boost valuations despite the advanced RE cycle Total Portfolio Lagoh Market Value GAV €306 Mn 31.12.17 1,538 54.6% Revaluation 694.8% 273 since acquisition 2018 76 195 150 2019 176 12.8% GAV Revaluation 1,562 since Dec 18 Q3 2019 45.7% 131.8% Revaluation since
Slide 25: Consolidated Income Statement
Consolidated Income Statement (€ Millions) P&L Despite the change in the perimeter, following the 9M 2019 9M 2018 non-core assets divestment plan, P&L 9M 2018 and 9M 2019 results remain at same levels Revenues 57.8 58.6 Other income 1.7 3.1 Asset Typology Divestment Date Personnel expenses (0.3) (0.
Slide 26: Consolidated Income Statement: Pro-forma Retail Portfolio
Consolidated Income Statement Pro-forma Retail Portfolio Consolidated Income Statement (€ Millions) (€ Millions) Chg% P&L Retail portfolio P&L 9M 2019/18 9M 2019 9M 2018 9M 2019 9M 2018 Revenues 57.8 58.6 Revenues 57.5 54.2 +6.1% Other income 1.7 3.1 Other income 1.7 3.1 Personnel expenses (0.3) (0.
Slide 27: ESG Summary
04 ESG Summary 27
Slide 28: Lar España's approach to ESG
Lar España´s approach to ESG E S G Environment Corporate Governance Lar España promotes Lar España’s portfolio Lar España continues Sustainability assets generate social to make great strides Creating shared certification measures. In impacts that transform forward in terms of value for our parallel
Slide 29: Environmental: Responsible management
Environmental Responsible management Sustainable Management Energy 92% of fully managed assets are BREEAM® certified PV solar panels in retail assets 100% of SCs are BREEAM® certified. Most of them are rated “Very Home automation systems to maximise good” energy efficiency in residential properties
Slide 30: Social: Society-based initiatives in our communities
Social Society-based initiatives in our communities AACESIBILITY 90% VidaNova Parc 75% Accessibility of assets of assets are in the +€113,000 managed by Lar AENOR Universal process of obtaining consultant invested have undergone Accessibility AENOR certification, to more efficiently in accessibility
Slide 31: Governance
Governance A key factor for the Company’s CSR Strategy ✓ New appointments to the Board of Directors ✓ Review and approval of different policies: 28.6% of the board are women, close to the 30% goal set for 2020. Board of ✓ Board of Directors Assessment for FY18 CSR Directors carried out by an indepen
Slide 32: Disclaimer
DISCLAIMER This document has been prepared by Lar España Real Estate SOCIMI, S.A. (the “Company”) for information purposes only and it is not a regulated information or information which has been subject to prior registration or control by the Spanish Securities Market Commission. This document neit
Slide 33: Follow us
Follow us www.larespana.com info@laespana.com Lar España Real Estate SOCIMI Lar España App
Lar España Real Estate SOCIMI — Investor Presentation (November 2019) on 6ix