Vbare Iberian Properties Socimi S.a. · BME:SCVBA
Vbare Iberian Properties Socimi — H1 2024 Earnings Presentation
18 slides from Vbare Iberian Properties Socimi's earnings presentation, Jul 24, 2024
Slide 1: H1 2024 Results Presentation
H1 2024 RESULTS PRESENTATION July 24, 2024 1
Slide 2: Disclaimer
DISCLAIMER This document has been prepared by VBARE Iberian Properties SOCIMI, S.A. (the “Company”) and its subsidiaries (the “Group”). This Presentation does not constitute or form part of, and should not be construed as, any offer to sell or issue or invitation to purchase or subscribe for, or any
Slide 3: Index
INDEX 1. H1 2024 Performance 2. Annex: Portfolio Overview & Main KPIs 3
Slide 4: H1 2024 Highlights
H1 2024 HIGHLIGHTS PORTFOLIO FULLY OPERATIONAL FROM DECEMBER 2023 WITH POTENTIAL RENT GROWTH (+15%) COMMERCIAL ACTIVITY WITH 22 LEASES SIGNED IN H1 2024 WITH AN ANNUALIZED RELETTING SPREAD1 OF +4.1% NET OCCUPANCY CLOSE TO 100% SINCE MORE THAN A YEAR AGO +50% LIKE-FOR-LIKE GROSS RENTAL INCOME Vs. H1
Slide 5: 1. H1 2024 Performance
1. H1 2024 PERFORMANCE mae] | Mil
Slide 6: Leasing Performance
1. H1 2024 Performance LEASING PERFORMANCE Quarterly Leases Signed 1 Annualized Quarterly Reletting Spread 2 33 25 10,02% 2023 9,10% 8.2% 2024 18 6,81% 6,06% 4.1% 11 11 4,54% 8 3,71% Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Stable seasonal numbe
Slide 7: Operating Performance
1. H1 2024 Performance OPERATING PERFORMANCE Like-for-Like GRI Evolution (€ k) Annualized Rents Potential Growth (€ k) 2 Rents including discounts1 Total Rents +15% 3,536 +6% 3,086 3,086 3,062 3,071 3,067 2,905 3.061 3.070 3.067 3.086 2.599 Jun. 30, 23 Sept. 30, 23 Dec. 31, 23 Mar. 31, 24 Jun. 30, 2
Slide 8: IFRS Consolidated Profit & Loss Account
1. H1 2024 Performance IFRS CONSOLIDATED PROFIT & LOSS ACCOUNT Profit & Loss Account (€ k) H1 2024 H1 2023 Variation Gross Rental income (Like-for-Like Assets) 1,524 1,015 50.0% Gross Rental income (Units sold) - 12 (100.0%) Gross Rental Income 1,524 1,027 48.3% Other operating income 1 10 (86.9%) S
Slide 9: IFRS Consolidated Balance Sheet
1. H1 2024 Performance IFRS CONSOLIDATED BALANCE SHEET Assets (€ k) Liabilities (€ k) June 30, 2024 Dec 31, 2023 Variation June 30, 2024 Dec 31, 2023 Variation Non- Current Assets 69,840 69,025 1.2% Net Equity 47,057 46,309 1.6% Property, plant and equipment 5 9 (44.4%) Share capital 18,049 18,049 -
Slide 10: 2024 GAV and NAV Evolution
1. H1 2024 Performance 2024 GAV¹ AND NAV² EVOLUTION 2024 GAV Evolution (€ k) 2024 NAV Evolution (€ k) 68,827 (28) 68,799 395 305 69,499 46,309 754 73 (80) 47,057 +0.57% +0.44% (+1.63%) (+0.16%) (-0.17%) GAV Pre-Sales Sales GAV Capex Fair Value GAV NAV Own Shares NAV 31/12/2023 31/12/2023 Invested Ad
Slide 11: VBARE NAV per Share vs. Share Price
1. H1 2024 Performance VBARE NAV PER SHARE vs. SHARE PRICE Share Price (7.0%) (8.2%) (21.3%) (22.0%) (45.3%) (44.2%) (42.3%) (54.9%) (50.2%) (57.7%) (56.6%) discount vs NAV 15.16 14.92 14.10 13.97 13.70 13.59 13.07 13.25 13.25 12.99 13.04 12.74 12.48 11.00 10.60 7.15 7.25 7.20 6.50 5.75 5.60 5.75 Ma
Slide 12: June 30, 2024 Financing Information
1. H1 2024 Performance JUNE 30, 2024 FINANCING INFORMATION Mortgage Loans Interest Rate¹ & Outstanding Debt by Institution Debt Evolution (€ k) 24,132 (11) (517) 23,605 9.8% 0.3% 36,7% Principal Early Principal Principal Outstanding Amortization Amortized Outstanding 53.1% 31/12/2023 due to Sales 30
Slide 13: 2. Annex: Portfolio Overview & Main KPIs
2. ANNEX: PORTFOLIO OVERVIEW & MAIN KPIs 13
Slide 14: Main KPIs Performance: Operational & Commercial
2. Annex: Portfolio Overview & Main KPIs MAIN KPIs PERFORMANCE: OPERATIONAL & COMMERCIAL 97% 227 17,427 13,635 97.36% 1.5 Portfolio located in Total Number Total GLA Total Residential Q2 2024 Tenants Madrid city (81% Inside of Units ¹ (SQM) GLA (SQM) ² Net Occupancy ³ Per Unit or bordering M-30) 30.
Slide 15: Main KPIs Performance: Financial & Corporate
2. Annex: Portfolio Overview & Main KPIs MAIN KPIs PERFORMANCE: FINANCIAL & CORPORATE €3.1 €2.0mn mn €16.93 €1,058 €3.5 €3.3mn mn Annual Monthly Passing Monthly Passing Annual Current Rent¹ Current Rent Rent per Rent per Reversionary Rent Residential SQM1 Residential Unit1 €49 mm €3,598 Total €69.5
Slide 16: Q2 2024 Portfolio Description and Location
2. Annex: Portfolio Overview & Main KPIs Q2 2024 PORTFOLIO DESCRIPTION AND LOCATION Type of Ownership ¹ Portfolio Location ¹ Inside M30 Location ¹ Inside M30 10% 3% 3% Entire Building 10% Chamberí 20% Outside M30 13% Tetuán Units in the same 16% building (>50%) Bordering Malasaña M30 17% 60% Units i
Slide 17: Portfolio Gallery
2. Annex: Portfolio Overview & Main KPIs PORTFOLIO GALLERY 17
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