Global Net Lease, Inc. · NYSE:GNL
Global Net Lease — Investor Presentation (April 2016)
22 slides from Global Net Lease's investor presentation, Apr 1, 2016
Slide 1: April 2016 Investor Presentation
April 2016 Investor Presentation
Slide 2: Investment Highlights
• • Diversified by asset type, geography, tenant and tenant industry Focus on single tenant, net lease, income producing, mission critical assets in the U.S., U.K., Germany, the Netherlands and Finland • • 72.6% of NOI derived from investment grade rated or implied investment grade rated tenants (1)
Slide 3: Fiscal Year 2015 Key Highlights
Cash NOI $45,366 $172,544 AFFO $30,187 $122,428 Dividend Yield – annualized (1) 8.9% Net Debt / Enterprise Value (2) 46.8% USD / Euro / GBP 23% / 40% / 37% Weighted Average Interest Rate Cost 2.5% Fixed / Floating Rate Debt 63% / 37% Interest Coverage (3) 5.5x Weighted Average Debt Maturity (4) 2.0
Slide 4: Portfolio
Portfolio Highlights Portfolio Overview Source: All portfolio and financial information derived from unaudited company internal records as of September 31, 2015. Inf orm ation shown based on U.S. Dollar equivalent amounts using exchange rates as of December 31, 2015. 1. Actual ratings reflect the te
Slide 5: Portfolio Highlights
Portfolio Highlights ___________________________ Source: All portfolio and financial information derived from unaudited company internal records as of December 31, 2015. Info rma tion shown based on U.S. Dollar equivalent amounts using exchange rates as of December 31, 2015. 1. Based on annualized 2
Slide 6: GNL vs. Peers
GNL vs. Peers 60% 100% 100% 100% 100% 100% 100% 93% 64% 7% 36% 0% 20% 40% 60% 80% 100% GNL LXP NNN O SIR SRC STOR GPT WPC U.S. Europe 40% Geographic Breakdown 11.3 7.5 9.0 9.1 10.0 10.7 11.0 11.4 14.0 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 GNL GPT WPC LXP O SRC SIR NNN STOR Average Remaining Lease
Slide 7: Significant Global Opportunity
Significant Global Opportunity GNL is well - positioned to capitalize on net lease investment opportunities in the U.S. and Western Europe. Sovereign Debt Ratings (S&P) U.S. AA+ UK AAA Germany AAA Netherlands AA+ Finland AA+ Belgium AA France AA Ireland A+ Poland A Spain BBB+ Italy BBB - Portugal BB
Slide 8: Focused Investment Strategy Creates Value
Focused Investment Strategy Creates Value U.S., UK, Germany, Finland , Belgium, Netherlands, Luxembourg and France Tenant Credit Quality Geography Real Estate / Market Fundamentals Asset Type Investment Strategy – Key Criteria Business model evaluation Tenant credit review Real Estate financ
Slide 9: Oversight Through Strong Governance
Oversight Through Strong Governance 9 Executive Summary Financial Highlights Portfolio Overview Investment Strategy Management Team Conclusion Focus on alignment of management and shareholder interests 3 of 4 members of Board of Directors are independent Audit Committee and Conflicts Committee
Slide 10: Conclusion
• Assembled high - quality net lease property portfolio • Best - in - class portfolio metrics • Established local management presence and expertise in our markets • Created in - place hedges to mitigate currency risk • Strong governance programs in place Conclusion RWE – North Rhine, Germany Western
Slide 11: The Platform
The Platform
Slide 12: GNL Board of Directors and Management Team
GNL Board of Directors Sue Perrotty Chairperson Abby Wenzel Independent Edward Rendell Independent William Kahane Director GNL Management Team / Investment Committee Scott Bowman CEO Tim Salvemini CFO Shared Services Support Operations Investor Relations Accounting Legal Due Diligence IT Marketing H
Slide 13: Superior Sourcing Network
I NSTITUTIONS A DVISORS D EVELOPERS R ELATIONSHIP B ROKERAGE F IRMS “B AD B ANK ” D EBT P OOLS Origination network targeted to transactions with advantaged position Disciplined and rigorous approach to underwriting Capacity to underwrite complexity and structure creatively Portfolios / large -
Slide 14: Vigorous Asset Management Creates Value
Vigorous Asset Management Creates Value 11 full - time asset management personnel in the U.S. and Europe Combined executive leadership with local practitioners to provide superior asset management expertise across the U.S. and Europe. 13 Checks Compliance / Negotiation Management Credit Tenant
Slide 15: Legal Notices
Legal Notices
Slide 16: Forward Looking Statements
Forward Looking Statements Certain statements made in this presentation are forward - looking statements . These forward - looking statements include statements regarding our intent, belief or current expectations and are based on various assumptions . These statements involve substantial risks and
Slide 17: Risk Factors
Risk Factors All of our executive officers are also officers, managers and/or holders of a direct or indirect controlling interest in our Adv isor and other entities affiliated with AR Global Investments, LLC. As a result, our executive officers, our Advisor and its affiliates face conflict s o f
Slide 18: Projections
Projections This presentation includes estimated projections of future operating results . These projections were not prepared in accordance with published guidelines of the SEC or the guidelines established by the American Institute of Certified Public Accountants for preparation and presentation o
Slide 19: Definitions
Definitions 17 Funds from operations (“FFO”) Due to certain unique operating characteristics of real estate companies, as discussed below, the National Association of Real Estate Investment Trusts ("NAREIT"), an industry trade group, has promulgated a measure known as funds from operations ("FFO"),
Slide 20: Definitions (cont'd)
Definitions (cont’d) 18 Funds from operations (“FFO”) (Cont’d) We consider FFO, Core FFO and AFFO useful indicators of our performance . Because FFO calculations exclude such factors as depreciation and amortization of real estate assets and gains or losses from sales of operating real estate assets
Slide 21: Definitions (cont'd): Adjusted funds from operations
Definitions (cont’d) Adjusted funds from operations (“AFFO”) We exclude certain income or expense items from AFFO that we consider more reflective of investing activities, other non - cash income and expense items and the income and expense effects of other activities that are not a fundamental attr
Slide 22: Definitions (cont'd): Adjusted EBITDA and NOI
Definitions (cont’d) 20 Adjusted Earnings before Interest, Taxes, Depreciation and Amortization, Net Operating Income, Cash Net Operating Income and Adjusted Cash Net Operating Income . We believe that earnings before interest, taxes, depreciation and amortization adjusted for acquisition and transa
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