Corestate Capital Holding Sa · XETR:CCAP
Corestate Capital Holding Sa — Q1 2022 Earnings Presentation
15 slides from Corestate Capital Holding Sa's earnings presentation, May 10, 2022
Slide 1: Results Q1-2021 Presentation – Conference Call for Analysts & Investors
RESULTS Q1-2021 PRESENTATION – CONFERENCE CALL FOR ANALYSTS & INVESTORS 10 MAY 2022 Stavros Efremidis, CEO | Udo Giegerich, CFO | Dr. Kai Gregor Klinger, CMO
Slide 2: Disclaimer
DISCLAIMER This presentation contains forward-looking statements that are subject to various risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or Glossary plans that are inherently subject to significant risks, as well as uncertainties and continge
Slide 3: Key Events of Q1-2022
KEY EVENTS OF Q1-2022 The European RE market began the year confidently, but the real challenges still lie ahead ▪ Historic rise in inflation unleashes global interest rate spiral ▪ Biggest uncertainty factors: Ukraine war, Russian energy imports and global supply chain ▪ Q1 operationally impacted b
Slide 4: Strategic Focus on Core Business
STRATEGIC FOCUS ON CORE BUSINESS Core Non-Core Assets under Management RE Debt Non-RE RE Equity AM RE 3rd Party PM ▪ AuM in core RE Debt segment stable; in RE Equity business with regular outflows 19.0bn 18.4bn ▪ Markedly decrease in non-core business, mainly driven by carve- 6.6bn out of the Airpla
Slide 5: Sale of CAPERA Signed
SALE OF CAPERA SIGNED CAPERA – Real Estate Services ▪ Property Manager for residential Following the discontinuation of the non-RE activities and commercial real estate at the beginning of the year, the strategic sale of our ▪ Part of the Corestate Group 3rd party management business - CAPERA - is s
Slide 6: The Real Estate Equity Segment
THE REAL ESTATE EQUITY SEGMENT AuMs show stability with some regular operational outflows ▪ Key market drivers and megatrends in real estate are ▪ Real estate Equity AuM went down a bit to € 11.9bn still intact, but investment behavior is already changing (2021: € 12.4bn) due to regular outflows of
Slide 7: The Real Estate Debt Segment
THE REAL ESTATE DEBT SEGMENT The macroeconomic environment remains positive with high demand – however, in view of increasing inflation and investor uncertainty, we have significantly stepped up our monitoring activities € 6.5bn Profile of > € 1.2bn Mezzanine Lending HFS (€ 6.6bn) # of financed proj
Slide 8: Income Lines Show a Subdued Start to 2022
INCOME LINES SHOW A SUBDUED START TO 2022 Revenue Split 1) in m€ (previous year) Q1-2022 Q1-2021 ▪ Lower transaction volume in the first RE Equity Acquisition & Sales Fees 1.3 (2.1) three months 2022 Asset and Property Mgt Fees 11.2 (9.6) ▪ Solid business base, AM fees on the previous year level Und
Slide 9: Lower Cost Base and Slightly Improved Earnings
LOWER COST BASE AND SLIGHTLY IMPROVED EARNINGS Key P&L Figures 1) in m€ Q1-2022 Q1-2021 ▪ OpEx increased primarily Aggregate Revenues & Gains 37.6 37.3 due to first-time Expenses from RE Equity 15.1 15.2 consolidation of AFS in Expenses from RE Debt 6.5 2.6 OpEx the debt segment to Expenses from Oth
Slide 10: Selected Balance Sheet Items
SELECTED BALANCE SHEET ITEMS Strong underlying quality of assets Total Balance Sheet € 104.0m Inventories in m€ € 1,392m (€ 1,414m) Giessen 79.9 Walhalla 14.9 (in m€) … … Current Current € 120.4m Investment in Associates & JV’s 403 419 Liabilities Assets Project in m€ (399) (429) LIVER 21.0 QUARTIER
Slide 11: Corestate Re-starts Placement of neustädter in Giessen
CORESTATE RE-STARTS PLACEMENT OF “neustädter” IN GIESSEN ▪ Inner city shopping center in the heart of the university city of Giessen, second largest shopping mall in Mittelhessen ▪ Corestate repositioned the neustädter with an excellent extension and conversion program since 2019 ▪ New tenant struct
Slide 12: Debt Profile & Refinancing
DEBT PROFILE & REFINANCING Financial debt overview Q1-2022 The overriding goal is to ensure refinancing (in m€) Bank & 621 70 other debt ▪ Cash conversion program continues with (incl. € 52m 143 high priority but is delayed in the current 533 1) warehousing difficult market environment (e.g. Giessen
Slide 13: Outlook FY-2022
OUTLOOK FY-2022 Key priorities are to de-risk, execute the refinancing and to accelerate the ongoing transformation process for a comprehensive reboot at all levels ▪ Efficiency program implemented: harmonize org structure and streamline double functions and locations → annual cost savings of > € 10
Slide 14: Financial Calendar
FINANCIAL CALENDAR 10 May 2022 Publication results for Q1-2022 28 June 2022 Annual General Meeting 2022 9 August 2022 Publication results for H1-2022 8 November 2022 Publication results for 9M-2022 www.corestate-capital.com/share © Copyright Corestate Capital. All rights reserved. 14
Slide 15: Investor Contact
INVESTOR CONTACT Dr. Kai G. Klinger Chief Markets Officer Phone: +49 69 3535630-106 ir@corestate-capital.com
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