Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España Real Estate SOCIMI — Investor Presentation (December 2022)
26 slides from Helios Re Socimi's investor presentation, December 2022
Slide 1: Lar España at a Glance
LAR ESPAÑA AT A GLANCE December 2022 www.larespana.com
Slide 2: Company Overview
eo.) The REIT for the new retail world Company Overview
Slide 3: Lar España at a glance
Company Overview Our Mission To provide our customers with unique shopping experiences by combining leisure and retail through an omnichannel approach. Lar España at a glance Our Vission To lead the industry based on the size of our portfolio, the quality of our assets and our management. Our Values
Slide 4: A clear idea: dominant & resilient portfolio
Company Overview A clear idea: dominant & resilient portfolio Lagoh | SC Rivas Futura | RP Parque Abadia | RP 69,734 sqm 36,447 sqm 43,109 sqm Visits: 5.4 Mn Visits: 5.4 Mn Visits: 9.3 Mn Sales: €94.7 Mn Sales: €20.3 Mn Sales: €29.9 Mn Dominant. Dominant Dominant Txingudi | SC Ànecblau | SC Gran Vía
Slide 5: From the IPO to nowadays: retail leader in Spain
Company Overview From the IPO to nowadays: retail leader in Spain MAIN SHOPPING CENTRES AND RETAIL PARKS MARKET PLAYERS RETAIL LEADERS IN SPAIN Avg. GLA ownership Lar España Owned GLA (est.) 551.405 # Assets 14 per asset 41,3781 #1 sqm GLA1 Asset stake owned Portfolio Size gives us benefits in: • Gl
Slide 6: A unique business model
Company Overview A unique business model Dominant shopping centres in Omnichannel strategy catchment areas We see e-commerce as an opportunity not a risk. It is Our assets are located in relevant but low retail a new hybrid form of commerce, where customers density areas, with limited competition ar
Slide 7: Committed with transparency, environment and governance
Company Overview Board of directors Committed with transparency, Jose Luis Leticia Isabel Roger M. Alec Miguel environment and governance del Valle Iglesias Aguilera Cooke Emmott Pereda Chairman Grupo LAR Independent Directors Proprietary Directors Female Directors 2015 2016 2017 2018 2019 2020 2021
Slide 8: 9M 2022 Results
=—— lor al The REIT for the new retail world 9M 2022 Results
Slide 9: 9M 2022 Financial Results
9M 2022 Financial & ESG Results 9M 2022 Financial Results EPRA E P R A N T A p.s. GRI NOI NET PROFIT E A R N I N G S p.s. €64.1Mn €55.4Mn €68.4 Mn €0.33 €10.882 +7.2%1 vs 9M 2021 +10.4%1 vs 9M 2021 5x vs 9M 2021 +42% vs 9M 2021 +5% vs Dec 2021 EPRA “TOPPED-UP” COLLECTED GAV WAULT NIY OCCUPANCY RENTS
Slide 10: 9M 2022 Corporate Results
9M 2022 Financial & ESG Results 9M 2022 Corporate Results DIVIDEND DIVIDEND YIELD LIQUIDITY OVER MARKET CAP €30.0 Mn 7.0% ca. €200 Mn 1 €0.36 p.s. paid dividend NET LTV AVERAGE COST GREEN BOND ISSUANCES OF DEBT 38.9% 1.8% July 2021 Nov. 2021 100% debt at fixed rate. €400 Mn €300 Mn Maturities beyond
Slide 11: P&L 9M 2022: clear recovery of the profit during the period
9M 2022 Financial & ESG Results P&L 9M 2022: clear recovery of the profit during the period Notes: May not foot due to rounding. 11
Slide 12: Best in class practices in ESG
9M 2022 Financial & ESG Results ESG Video Best in class practices in ESG Governance The data automation platform for Social Environmental environmental indicators was put into operation in 2021.The company 100% Recommendations of the 6 assets certified is currently completing the roll-out CNMV Good
Slide 13: Debt profile: investment grade and successful bond issuances
9M 2022 Financial & ESG Results Debt profile: investment grade and successful bond issuances BBB As of 30/06/22 €770 Mn Gross Financial debt Second party Maturity Profile – Post issuances opinion €585 Mn Debt (€Mn) Net financial debt 24.5 45.5 1.8% average cost of debt (40 bps improvement vs 1H21) 4
Slide 14: BBB stable outlook - Rating affirmed
9M 2022 Financial & ESG Results BBB stable outlook - Rating affirmed BBB Fitch underlines that: • Its rating reflects both the regional dominance and the high retail space of Lar España's portfolio of 14 shopping centers and retail parks, as well as its valuation of more than 1.4 billion euros at th
Slide 15: Strong valuations
9M 2022 Financial & ESG Results Strong valuations 30th June 2022 Valuation €1,470 Mn Including Capex Invested A resilient portfolio of dominant shopping centers in attractive Asset appraisal variations +53.6% catchment areas. Cherry picked assets carefully selected without acquiring portfolios. Asse
Slide 16: Attractive dividend: Maintained despite Covid-19 and macro environment
9M 2022 Financial & ESG Results Attractive dividend: Maintained despite Covid-19 and macro environment 8.9% Div Yield over CAGR (Compound Average Market Cap 1 Growth Rate) 2014-2021 41% € 0.63 ps € 0.54 ps €55.0 Mn € 0.49 ps 100% EPRA earnings 7.0% Div 50% 7.0% dividend yield on €50.0 Mn 6.7% Div Yi
Slide 17: Business Plan 2022-2025
=—— lor al The REIT for the new retail world Business Plan 2022-2025
Slide 18: New Business Plan 2022-2025: Strategy
Business Plan 2022-2025 New Business Plan 2022-2025: Strategy Preserve Support Recover Reinvest in the Maintain a Return to occupancy tenants in leasing assets that strategy of pre-pandemic levels the recovery activity levels, need it most in proximity to the valuation of their returning to terms of
Slide 19: New Business Plan 2022-2025: Asset Rotation
Business Plan 2022-2025 New Business Plan 2022-2025: Asset Rotation Lar España has a tier-one retail The disposal strategy of this type of After a detailed analysis of all the portfolio, with certain assets that will assets would generate CF in order to assets in the portfolio and their growth be ro
Slide 20: New Business Plan 2022-2025: Assumptions
Business Plan 2022-2025 New Business Plan 2022-2025: Assumptions MANAGEMENT 1 LEVERAGE 2 SHARE CAPITAL 3 AGREEMENT 40%-45% No capital increases considered currently Moderate Net LTV levels Investment Management Agreement with best-in-class practices across European REITs 4 SHARE BUY-BACK PROGRAMMES
Slide 21: New Business Plan 2022-2025: Targets
Business Plan 2022-2025 New Business Plan 2022-2025: Targets (2) GAV ca. 7% Average growth per annum Annualized GRI ca. 7% Average growth per annum ca. 7% Average growth per annum (2) NAV/NTA Annualized NOI ca.8% Average growth per annum ca.41% BBB (1) (2) Net LTV EPRA Earnings ca.45% Average growth
Slide 22: Final remarks
=—— lor al The REIT for the new retail world Final remarks
Slide 23: The company continues to be well prepared for major uncertainties
Final remarks The company continues to be well prepared for major uncertainties Rents Occupancy Portfolio Essential activities Retailers Strong results. Increase of occupancy levels 100% refurbished. Higher exposure to food and We strengthened our GRI +7.2%1 vs 9M 2021 with ca. 100% agreements with
Slide 24: Strong and resilient leadership in Spanish Retail makes Lar España an extremely attractive company
Final remarks Strong and resilient leadership in Spanish Retail makes Lar España an extremely attractive company 1 2 3 Increase in rental income. Solid operating results. Major increase in revenues. +10.4% NOI vs 9M 2021 5X net profit vs 9M 2021 +7.2% GRI vs 9M 2021 4 5 6 Moderate debt level. Improv
Slide 25: Disclaimer
Disclaimer This document has been prepared by Lar España Real Estate SOCIMI, S.A. (the “Company”) for information purposes only and the information included in this document is not regulated information or information which has been subject to prior registration with, or control by, the Spanish Nati
Slide 26: www.larespana.com
—_— lar www.larespana.com
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