Irish Residential Properties Reit Plc · EURONEXT:IRES
Irish Residential Properties Reit — FY2022 Earnings Presentation
24 slides from Irish Residential Properties Reit's earnings presentation, 2023
Slide 1: Irish Residential Properties REIT Plc Results Presentation
Irish Residential Properties REIT Plc Results Presentation Twelve Months to 31 December 2022 Strictly Confidential 1
Slide 2: Disclaimer
DISCLAIMER Cautionary Statements howsoever arising from any use of this presentation or its competitive position data contained in this presentation come This presentation has been prepared by Irish Residential contents or otherwise arising in connection with this from third party sources. Third par
Slide 3: Contents
Contents 1 Highlights 2 Financial Results 3 Portfolio Overview 4 Sustainability & ESG 5 Market Fundamentals 6 Outlook 3
Slide 4: Strong 2022 Performance
Highlights Strong 2022 Performance Financial & Operational Asset Management & Portfolio Disciplined Capital Management ESG Embedded Into Our DNA Optimisation 99.4% occupancy Scope 2 emissions reduced by Added 238 homes to our portfolio 72% of drawn debt now hedged 25.8% Revenue +6.5% to €84.9m 92% o
Slide 5: Significant Strategic Progress in 2022
Highlights Significant Strategic Progress in 2022 Fully Integrated Irish Property Manager Internalisation Completed internalisation and added depth to the corporate team during 2022 Now a local team of professionals covering investment, property management & services, finance, legal, risk & complian
Slide 6: Financial Results
Financial Results 6
Slide 7: Strong Income and Cash Flow Underpinned by Exceptional Operational KPI's
Financial Results Strong Income and Cash Flow Underpinned by Exceptional Operational KPI’s For the twelve months ended 31 Dec 2022 31 Dec 2021 % change 6.5% Income Statement (€m) 0.3% €84.9m 99.4% €79.7m Revenue from Investment Properties 84.9 79.7 6.5% 99.1% €74.7m 98.4% Net Rental Income 65.7
Slide 8: High-Quality Portfolio
Financial Results High-Quality Portfolio Strong Balance Sheet 2022 2021 % change High quality portfolio that has a proven resilience, which is expected to continue due to the unique nature and fundamentals of the Irish market Total Property Value (€m) 1,499.0 1,493.4 0.4% Net Asset Value (€m) 847.4
Slide 9: Balance Sheet & Liquidity: Robust Position
Financial Results Balance Sheet & Liquidity: Robust Position Weighted Average Cost of Debt 2.61%1 72% of drawn debt fixed providing a hedge against interest rate volatility Source RCF Private Placement Notes Quantum €600 million €200 million (euro equivalent) 100% Funding sources Syndicate of
Slide 10: Portfolio Overview
Portfolio Overview 10
Slide 11: Modern Portfolio With Strong Income and Operating Metrics
Young modern portfolio, weighted average age of 13.1 years Portfolio Overview 10% 5% <2 Modern Portfolio With Strong Income and 16% 2 to 5 Operating Metrics 3% 6 to 9 Age 10 to 13 11% 14 to 16 3,938 100% 86% €367k 55% >17 High-quality homes, Renewable energy Portfolio BER Per unit with 37 properties
Slide 12: Disciplined Portfolio Management Strategy Focused On Value Creation
Portfolio Overview Disciplined Portfolio Management Strategy Focused On Value Creation Three-Pronged Investment Strategy Acquisitions Added to portfolio Acquisition: 108 homes at Ashbrook, Clontarf Recycled Assets 2022 Disposals in 2023 Forward Purchase ▪ Ashbrook 108 homes ▪ Hampton Wood 128 homes
Slide 13: Delivery of Growth Strategy
Portfolio Overview Delivery of Growth Strategy School Yard, Dublin City Centre ▪ Completed development of 61 new apartments on site adjacent to our property at Baker’s Yard ▪ Gross yield on cost of 6.9% ▪ All units leased by 1 August 2022, with total lease-up period lasting only c.5 Rockbrook Develo
Slide 14: Sustainability & ESG
Sustainability & ESG 14
Slide 15: Sustainable Portfolio
Sustainability & ESG Sustainable Portfolio 86%3 100% Portfolio BER Renewable energy for Reducing Consumption above C rating common areas 9.9% 151 Tonnes CO₂ 425,909 kWh 25.8% Scope 1 383,715 kWh 112 Tonnes CO₂ Accounts for less than 0.5% of emissions – targeting 30% reduction in 2023 Scope 2 Red
Slide 16: Good Governance & Prioritising Transparency
Sustainability & ESG Good Governance & Prioritising Transparency Maintaining the Highest Levels of Transparency & Disclosure Board Level Governance Agencies 2021 2022 ▪ The Board has overall responsibility for ESG matters ▪ Board Sustainability Committee Oversight 53/100 59/100 ▪ Non-Executive Board
Slide 17: Creating Shared Value
Sustainability & ESG Resident Engagement ▪ Annual resident survey completed ▪ All Ireland pollinator plan Creating Shared Value ▪ Recycling and waste management programmes ▪ Competitions and engagement activities ▪ Energy efficiency awareness programme ▪ Support local community initiatives which Emp
Slide 18: Market Fundamentals
Market Fundamentals 18
Slide 19: Why The Irish Multifamily Sector?
Market Fundamentals Why The Irish Multifamily Sector? Irish population Growth Forecast Source: CSO; UN Population Growth Forecasts 6.0m Actual - Census 2022 5.5m 5.0m ▪ Ireland’s population reached 5.12 million in 2022, an 8% increase from the 2016 census 4.5m 5.4m 5.5m 5.1m 5.3m 4.0m 4.8m 4.2m 4.6m
Slide 20: Economic Outlook Supportive
Market Fundamentals Economic Outlook Supportive Forecast Irish & EU Countries GDP Growth Source: European Commission Winter 2023 Low Unemployment Rate Source: CSO, ECB Forecasts % 12 10 8 6.6% 6 4.3% 4 2 2015 2016 2017 2018 2019 2020 2021 2022 2023 Irish Unemployment Rate Eurozone Unemployment Rate
Slide 21: Outlook
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Slide 22: Confidence in the Near-term Outlook, Despite Macroeconomic Uncertainty
Outlook Confidence in the Near-term Outlook, Despite Macroeconomic Uncertainty Operational excellence Portfolio resilience Costs normalisation Market-wide supply-demand imbalance coupled Valuation resilience expected to continue due to No more exceptional charges now with best-in-class portfolio and
Slide 23: Thank you for your time
Thank you for your time For more information please visit: www.iresreit.ie/investors South Dock House Hanover Quay DO2 XW94 Ireland www.i-res.ie 23
Slide 24: South Dock House, Hanover Quay
South Dock House Hanover Quay DO2 XW94 Ireland www.i-res.ie 24
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