Wereldhave N.V. · EURONEXT:WHA
Wereldhave — Q3 2013 Earnings Presentation
7 slides from Wereldhave's earnings presentation, Oct 31, 2013
Slide 1: Update Q3 2013
Update Q3 2013 Schiphol 31 October 2013
Slide 2: Operations
Operations Retail LFL net rental growth well above target in Finland and Belgium (resp. 200 bps and 220 bps above indexation); positive but below target (indexation) in The Netherlands Gross rental income € 101.3m (-35,2% yoy, due to large volume of disposals of a.o. US & UK portfolios) Occupancy ra
Slide 3: Operations
Operations Dutch shopping centres: - Despite harsh market conditions, nine new leases signed with a.o. ANWB, Rituals, La Place and Big Bazar - Some early signs of stabilisation visible but tenant bankruptcies not over yet - Several new leases pending for final approval from retailers Signing of new
Slide 4: Portfolio
Portfolio Investment portfolio - Richmond project and land plot in Rushden (UK) transferred in Q3 - Last UK property, another plot of land in Rushden, is sold. Transfer after building permit is irrevocable Development pipeline Commited (in €m) Total investment Capex so far Expected NIY Percentage Co
Slide 5: Financing
Financing Q3 sales proceeds used to repay loans with floating interest rate - LTV ↓ by 1.2% to 26.7% - CoD ↑ by 0.1% to 2.8% - ICR 6.3x - Fixed-rated debt ↑ to 59% - Total borrowing capacity € 502m EPRA NAV per share: € 65.44 (based on June 2013 valuations) 5
Slide 6: Forecast FY 2013
Forecast FY 2013 LFL net rental growth of shopping centre portfolio expected to be at or above 3.25% LFL net rental growth Paris office portfolio clearly above indexation General costs expected to remain below € 15m Direct result per share between € 3.20 – 3.30 Dividend per share maintained at € 3.3
Slide 7: Contact details
Contact details Press: Analysts: Richard Beentjes Jaap-Jan Fit Richard.beentjes@wereldhave.com Jaap.fit@wereldhave.com T +31 20 702 78 33 T +31 20 702 78 43 Investor.relations@wereldhave.com www.wereldhave.com 7