Varia Us Properties Ag · SIX:VARN
Varia Us Properties — H1 2021 Earnings Presentation
25 slides from Varia Us Properties's earnings presentation, Aug 31, 2021
Slide 1: Presentation Half-Year 2021 Results
PRESENTATION HALF-YEAR 2021 RESULTS 1 04/2017 Strictly confidential
Slide 2: Important Notice
IMPORTANT NOTICE This presentation includes forward-looking information and Although we believe that its expectations reflected in any statements, including statements concerning the outlook for such forward-looking statement are based upon reasonable our business. These statements are based on curr
Slide 3: Agenda
AGENDA AUGUST 31, 2021 Key achievements Financials HY 2021 Portfolio and growth strategy Outlook 3 Strictly confidential
Slide 4: Key Achievements
KEY ACHIEVEMENTS 4 04/2017 Strictly confidential
Slide 5: Key Achievements Half-Year 2021: Key outcomes
KEY ACHIEVEMENTS HALF-YEAR 2021 ■ Key outcomes ■ Total portfolio value of USD 1.060 billion (end of 2020: USD 928.2 million) ■ NAV per share of USD 40.19 (June 30, 2020: USD 35.43) ■ Realized gain on disposal of properties of USD 12.7 million (June 30, 2020: NIL) ■ Earnings per share of USD 4.81 (HY
Slide 6: Corporate activities and operations
KEY ACHIEVEMENTS HALF-YEAR 2021 ■ Corporate activities and operations ■ Resilient and diversified portfolio generating strong and growing financial performance as the key driver to sustainable success of the Company ■ Acquisition of four promising assets in Indiana and Kentucky and disposition of th
Slide 7: Varia US Properties at a Glance
VARIA US PROPERTIES AT A GLANCE Geographic breakdown of Varia Properties as of June 30, 2021 ■ Portfolio value of USD 1.060 billion exceeding the one billion mark first time (end of 2020: USD 928.2 million) ■ 45 assets ■ 10,870 units ■ 17 different States in the US ■ Geographical diversification: ■
Slide 8: Financials HY 2021
FINANCIALS HY 2021 8 04/2017 Strictly confidential
Slide 9: HY 2021 Key Figures (1/4)
HY 2021 KEY FIGURES (1/4) EFFECTIVE FAIR VALUE TOTAL GROSS PORTFOLIO INCOME HY 2020: USD 52.4 million INCOME (EGI) 1 ADJUSTMENT HY 2020: USD 54.6 million HY 2020: USD -2.2 million USD million 71.1 USD million 54.8 USD million 113.2 REALIZED GAIN ON EBITDA2 EBITDA THE DISPOSAL OF HY 2020: USD 23.1 mi
Slide 10: HY 2021 Key Figures (2/4)
HY 2021 KEY FIGURES (2/4) PROFIT FOR THE FFO 1 FFO HY 2020: USD 11.4 million PERIOD PER SHARE HY 2020: USD 6.8 million HY 2020: USD 1.26 USD million 48.7 USD million 20.7 USD 2.04 NAV NAV NAV PER SHARE PER SHARE PER SHARE HY 2020: USD 35.43 (excluding deferred taxes) (excluding distribution payable)
Slide 11: HY 2021 Key Figures – Financial 2021 (3/4)
HY 2021 KEY FIGURES – FINANCIAL 2021 (3/4) Rental income in Mio Total Income in Mio 55.00 Rental income like for like* Rental income 120.00 50.00 100.00 45.00 80.00 40.00 60.00 35.00 113.20 40.00 30.00 66.07 46.39 52.40 25.00 20.00 43.28 20.00 0.00 HY 2017 HY 2018 HY 2019 HY 2020 HY 2021 HY 2017 HY
Slide 12: HY 2021 Key Figures – Financial 2021 (4/4)
HY 2021 KEY FIGURES – FINANCIAL 2021 (4/4) Debt in Mio FFO in Mio (Funds from operations) 25.00 700.00 651 62.0% 20.7 597 600.00 61.2% 60.5% 567 60.0% 20.00 505 515 59.1% 500.00 455 58.0% 430 430 57.4% 57.4% 56.6% 15.00 56.4% 400.00 55.4% 56.0% 56.0% 11.4 311 311 300.00 52.8% 54.0% 10.00 8.8 8.1 200
Slide 13: Consolidated Statement of Profit and Loss
CONSOLIDATED STATEMENT OF PROFIT AND LOSS In USD million (For the six months ended) June 30, 2021 June 30, 2020 Rental income 52.0 48.8 Other income and insurance proceeds 6.4 5.8 Total rental income 58.4 54.6 Realized Gain on disposal of properties 12.7 -- Effective gross income 71.1 54.6 Net gain
Slide 14: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION Assets in USD million As of June 30, 2021 As of December 31, 2020 Total current assets 170.7 116.8 Total non-current assets 978.8 940.5 Total assets 1,149.5 1,057.3 Liabilities and equity in USD million As of June 30, 2021 As of December 31, 2020 Total cu
Slide 15: Portfolio and Growth Strategy
PORTFOLIO AND GROWTH STRATEGY 15 04/2017 Strictly confidential
Slide 16: Portfolio HY 2021 Key Figures (1/2)
PORTFOLIO HY 2021 KEY FIGURES (1/2) PORTFOLIO NUMBER OF NUMBER OF VALUE1 PROPERTIES UNITS End of 2020: USD 928.2 million End of 2020: 44 End of 2020: 10,269 USD million 1,059.6 45 10,870 AVERAGE INTEREST- POTENTIAL MONTHLY RENT BEARING GROSS PER UNIT DEBT RATIO INCOME 1 End of 2020: USD 824 End of 2
Slide 17: Portfolio HY 2021 Key Figures (2/2)
PORTFOLIO HY 2021 KEY FIGURES (2/2) AVERAGE MARKET OCCUPANCY EFFECTIVE VALUE PER UNIT RATE GROSS End of 2020: USD 90,390 End of 2020: 95.4% INCOME 1 End of 2020: USD 110.8 million USD USD 97,481 96.3% million 114.1 1 Data appraised by third party appraisers 17 Strictly confidential
Slide 18: New Acquisitions Executed Over the Period
4 NEW ACQUISITIONS EXECUTED OVER THE PERIOD 18 Strictly confidential
Slide 19: Properties Sold Over the Period
3 PROPERTIES SOLD OVER THE PERIOD * These three deals were acquired in January 2016, and recapitalized in January 2018, when the Company brought out the previous Non Interest equity holder. All numbers above are based on the performance of the assets after January 2018 19 Strictly confidential
Slide 20: ESG Strategy and Other Initiatives
ESG STRATEGY AND OTHER INITIATIVES ■ Varia US is working with the Green Building Initiative (www.thegbi.org) and Corporate Sustainability Strategies (www.corporatesustainabilitystrategies.com) to develop its ESG strategy and to frame its initiatives ■ Top-down approach to define targets and policies
Slide 21: Outlook
OUTLOOK 21 04/2017 Strictly confidential
Slide 22: Outlook 2021 (2nd half): Market
OUTLOOK 2021 (2nd half) MARKET → Strong market expected for the 2nd half of 2021 → High market liquidity with capital inflow in the multifamily sector → Continuous support from governmental authorities to support tenants affected by Covid → End of eviction moratorium → Above average rent increase in
Slide 23: Outlook 2021 (2nd half): Investment, Strategy, Financials
OUTLOOK 2021 (2nd half) INVESTMENT → Further expansion of the portfolio with targeted acquisitions → Two additional deals in North Carolina & Kentucky likely closed in next few weeks → Look out for new investment opportunities offering attractive risk adjusted returns → Divestment of non-strategic a
Slide 24: Information
INFORMATION INVESTOR INFORMATION CONTACT INFORMATION Listing: SIX Swiss Exchange Jürg Stähelin, IRF Currency: USD Investor Relations / Corporate Ticker symbol: VARN Communications ISIN: CH 030 528 529 5 Phone: +41 43 244 81 51 Listing date: December 8, 2016 E-mail: investors@variausproperties.com FI
Slide 25: Strictly confidential
25 04/2017 Strictly confidential