Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España Real Estate SOCIMI — Investor Presentation (August 2019)
34 slides from Helios Re Socimi's investor presentation, August 2019
Slide 1: Corporate Presentation Aug 2019
Corporate Presentation Aug 2019
Slide 2: Index
INDEX 01 02 03 04 05 Company Investment Financial ESG Appendix Description Highlights Results Summary Recognitions 2
Slide 3: Company Description
01 Company Description 3
Slide 4: Snapshot
Snapshot Shareholder Structure First IPO of a Spanish REIT listed on the Spanish Stock Exchange Other investors PIMCO 47.0% 20.0% Focused on creating both sustainable income and strong capital returns for shareholders Manager Grupo Lar Lar España is managed by Grupo Lar, private Real Estate Asset Ma
Slide 5: Board of Directors & critical activities
Board of Directors & critical activities Independent and experienced Board: 5 independent directors (5 out of 7) Critical Activities internalized José Luis del Valle Roger Cooke Leticia Iglesias Jon Armentia Susana Guerrero Hernán San Pedro Chairman and Independent Independent Independent Corporate
Slide 6: Major corporate milestones in 2018 & H1 2019
Major corporate milestones in 2018 & H1 2019 FEB APR JUN AUG OCT DEC APR Rivas Futura AGM +34% Galaria Investor Day +40% AGM Acquisition Asset Retail Park Asset Revaluation since Acq. €0.49 p.s. Revaluation Divestment EIB €0.80 p.s. Abadía Joan Miró Dividend since Acq. Financing Dividend Commercial
Slide 7: Portfolio at a glance
Portfolio at a glance 99% of GAV concentrated in retail assets Assets GLA 16 €1,462 Mn 580,235 1 divestment in H1 20191 Gross Asset Value1 sqm Retail Rest of the portfolio 2 GAV 99% Rental 99% Income 2 Retail Residential (1 asset): In process of delivery 1. Eloy Gonzalo divestment in April 2019. 2.
Slide 8: Investment Strategy focused on retail
Investment Strategy focused on retail Unique shopping centres & retail parks SHOPPING CENTRES & RETAIL PARKS MAIN CHARACTERISTICS Dominant in its Value-creation Core+ catchment areas potential 100% Target levered ownership IRR>12% Unique exposure to real estate retail assets, the Resilient prime dom
Slide 9: The value of a retail platform
The value of a retail platform Main market players by owned GLA, including GLA under development1 Lar España has consolidated among the top retail operators in Spain. Now, the target is to selectively increasing GLA to generate revenue synergies Owned GLA (est.) Nbr. Assets Avg. ownership per asset
Slide 10: 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 11: External manager: A real estate reference
External manager: A real estate reference Grupo Lar now owns Investment Management a 10.2% 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 12: Investment Highlights
02 Investment Highlights 12
Slide 13: Lar España Investment highlights
Lar España Investment highlights 1 3 5 Positive Focused and Best-in class operational trends unique offering manager driving growth 2 4 6 Capex and Highly attractive development Leading the digital income profile deliver further transformation in income growth retail 13
Slide 14: Focused and unique offering; Highly attractive income profile
Lar España Investment highlights 1 Focused and unique offering 2 Highly attractive income profile The only listed Spanish REIT in the continuous market A resilient portfolio of dominant shopping centres in First IPO of a €111 Mn rent offering pure-play exposure to an attractive portfolio attractive
Slide 15: Positive operational trends; Capex and development
Lar España Investment highlights 3 Positive operational trends driving growth 4 Capex and development deliver further income growth Strong results Strong rental growth with a +2.1% increase in LfL VidaNova Parc recently successfully opened, with Smart mix of thanks to active gross rental income in H
Slide 16: Best-in class manager; Leading digital transformation
Lar España Investment highlights 5 Best-in class manager 6 Leading the digital transformation: TES Project (technology, engagement and sustainability) Through technology Lar España improves customer experience, by combining physical and digital Omnichannel European JVs strategies. Thanks to new tech
Slide 17: Financial Results H1 2019
03 Financial Results H1 2019 17
Slide 18: Strong operational results in H1 2019
Strong operational results in H1 2019 13.6% 59.1% Portfolio revaluation LfL Lagoh revaluation €10.78 +168% since June 2018 since Dec 2018 EPRA NAV p.s.1 EBITDA RESULTS vs H1 2018 44.6% 445.5% +2% Portfolio revaluation LfL Lagoh revaluation vs Q1 2019 since acquisition since Acquisition Lagoh c.50% r
Slide 19: Lar España performance: A story of growth
Lar España performance A story of growth Retail Occupancy Rate RETAIL GAV (€ Mn) Retail GAV 96.0% 95.0% 94.8% 95.0% Total GAV Revaluation since acquisition 1,199 1,376 1,451 93.7% 94.0% 962 92.1% 40% 45% 92.0% 614 237 24% 90.0% 4% 14% Q4 2015 Q4 2016 Q4 2017 Q4 2018 H1 2019 2014 2015 2016 2017 2018
Slide 20: Successful & strong financial key figures delivered in H1 2019
Successful & strong financial key figures delivered in H1 2019 16 €38.5 Mn +2.1% LfL1 Assets GRI vs H1 2018 €1,462 Mn €23.2 Mn +168% €968.5 Mn 11.7% GAV EBITDA vs H1 2018 EPRA NAV ROE 580,235 €646 Mn 2.2% €10.782 6.9% GLA sqm Financial Debt Cost of Debt EPRA NAV per share ROA €75 Mn €488 Mn 33% 6.0%
Slide 21: Solid retail performance driven by robust operating results
Solid retail performance driven by robust operating results in H1 2019 Retail yields Operating results Commercial activity 6.5% Potential +2.1% +2.4% growth LfL GRI1 LfL NOI1 €4.1 Mn 23,337 sqm Negotiated rent Rotated area 6.0% +40.4% -18.7% 5.8% Lease incentives1 Turnover rent1 66 10.6% 95.0% Opera
Slide 22: H1 2019 Lar España Asset Appraisal
H1 2019 Lar España Asset Appraisal Total Portfolio H1 2019 Valuation €1,462 Mn 44.6% 13.6% 5.5% Since FY 2018 LfL H1 2019/18 Since Acquisition Including Capex Invested 22
Slide 23: Consolidated Income Statement
Consolidated Income Statement (€ Millions) P&L Due to the change in the perimeter, H1 2019 H1 2018 P&L H1 2018 and H1 2019 are not comparable Revenues 38.5 39.8 Asset Typology Divestment Date Other income 1.2 2.5 Personnel expenses (0.2) (0.3) Divested in H2 2018 Other expenses (16.4) (36.7) Joan Mi
Slide 24: 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 H1 2019/18 H1 2019 H1 2018 H1 2019 H1 2018 Revenues 38.5 39.8 Revenues 38.3 35.9 +6.7% Other income 1.2 2.5 Other income 1.1 2.5 Personnel expenses (0.2) (0.
Slide 25: ESG Summary
04 ESG Summary 25
Slide 26: Lar España's approach to ESG
Lar España´s approach to ESG Environmental Social Governance Responsible management Active listening Ethics and Integrity Sustainability certifications Social initiatives Independent Board Environmental awareness Accessibility Risk Management Innovation Wealth creation Transparency 100% shopping cen
Slide 27: Environmental Innovation
Environmental Innovation Energy efficiency Water management Air quality Lighting Presence detector Complex control systems for ventilation Climate control Watering systems Air purifier systems Building systems Cooling towers Solar power Other lines of initiative Alternative energy sources Tri-genera
Slide 28: Social Society-based initiatives
Social Society-based initiatives Business Citizen Social climate Health and oportunities participation & values well-being + 225 days + 28 NGOs +€212,000 + 25,500 Kg + 25,000 Kg of environmental and charities earmarked to of clothing donated of food collected in initiatives at our collaborated with
Slide 29: Governance Action plan
Governance Action plan ✓ Experienced and mostly independent Board of Directors (5 of 7 members): Complying with the best 16 meetings in 2018 practices in the corporate governance field ✓ Action Plan main objectives: Strong governance TRANSPARENCY Transparency, business ethics, corporate social respo
Slide 30: Appendix
05 Appendix RETAIL _. / Le ACTON, 30
Slide 31: Retail Assets
Retail Assets Megapark Lagoh G. Vía P. Marina El Rosal Anec Blau As Termas Abadía Bilbao Seville Vigo Alicante Ponferrada Barcelona Lugo Toledo Development Market Value €222.5 Mn €210.0 Mn €172.8 Mn €128.1 Mn €110.5 Mn €96.8 Mn €87.6 Mn €84.2 Mn (Jun 2019) GLA (Sqm) 83,148 100,0002 41,444 40,332 51,
Slide 32: Retail Assets
Retail Assets Rivas Albacenter Vidanova Parc Vistahermosa Madrid Albacete Valencia Alicante Other Assets2 Market Value €67.5 Mn €60.0 Mn €58.7 Mn €50.0 Mn €102.3 Mn (Jun 2019) GLA (Sqm) 36,447 26,335 45,568 33,763 44,888 30 Jul ’14 Acquisition Date 6 Feb ´18 3 Aug ’15 16 Jun ’16 NA 19 Dec ’14 Acquis
Slide 33: 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 34: Follow us
Follow us www.larespana.com info@laespana.com Lar España Real Estate SOCIMI Lar España App
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