Slide 1: VGP 1H21 Results Presentation
VGP 1H21 Results Presentation 31 August 2021 1
Slide 2: Fully integrated pure-play logistics real-estate company
Fully integrated pure-play logistics real-estate company Company at a glance Portfolio KPI’s as of 30-Jun-21 n Pan-European operator, owner and developer of prime 130 logistics and light industrial parks €4.48bn1 85 324 Number of Total GAV Parks Tenants completed n Fully integrated business model wi
Slide 3: 1. Highlights H1 2021
1. Highlights H1 2021
Slide 4: H1 2021 results - Highlights
H1 2021 results - Highlights n Record net profit for the period of €203.8 million n Strong operating performance across regions n Record 42 buildings with 1,127,000 m² under construction (81.3% pre-let) n 17 buildings with 426,000 m2 have been started up in H2 2021 (currently 1,559,000 m2 under cons
Slide 5: Resilient financial performance
Resilient financial performance €4,480m n Strong growth of total portfolio value1 €3,231m Driven by portfolio growth and yield compression +39% across regions 1H20 1H21 €205.7m €165.2m n Continued growth in committed annualised rental income1 +25% Several iconic parks being brought to market 1H20 1H
Slide 6: Update on Sustainable Development Goals
Update on Sustainable Development Goals Renewable Energy n 61.8MWp of photovoltaic capacity is currently installed or under construction through 52 roof-projects; pipeline includes 33 projects of 71MWp n Total projected solar power generation of 133MWp (+39% YTD) Building design and certification n
Slide 7: 2. Operational performance
2. Operational performance
Slide 8: H1 2021 saw strong leasing growth, with resilience into H2
H1 2021 saw strong leasing growth, with resilience into H2 Committed annualised rental income and number of tenancy contracts1 €225 350 Annualised Rent income - (€ million) €200 300 €175 250 Number of contracts €150 €125 200 €100 150 €75 100 €50 50 €25 €- 0 2016 2017 2018 2019 2020 1H2021 2021 Rolli
Slide 9: Proven ability to rapidly convert acquired land into fully-let and operational parks
Proven ability to rapidly convert acquired land into fully-let and operational parks Total land bank secured (Mio. m²) Completed1 gross leasable area (‘000 m²) 5,000 t e 4,547 4,500 Ra t h ow % l Gr : 27 a 1 900 4,000 n u H’2 te An 7-1 Ra 12.58 d 1 un ) ’ 3,341 r o wt h 3,500 po A G R G 33% m ual :
Slide 10: Diversified investment portfolio
Diversified investment portfolio Investment portfolio breakdown1 Country breakdown Completed vs Under Construction vs Land Bank Hungary Romania €116mm – 3% Development land €141mm €461mm 3% Other Slovakia 10% €178mm €147mm 4% 3% Netherlands Under €317mm – 7% Construction Spain €1,146mm €374mm – 8% 2
Slide 11: Portfolio leased on a long-term basis to a diversified and blue-chip customer base
Portfolio leased on a long-term basis to a diversified and blue-chip customer base Weighted average term of the portfolio Blue-chip top 10 Tenants (JVs at 100%) Combined 8.2 years Krauss Maffei 13.5% Amazon 6.2% JV 7.6 years Rhenus Logistics 3.9% Own 9.6 years Drylock Technologies 2.4% BMW Group 2.3
Slide 12: Solid delivery of new developments expected for FY 2021
Solid delivery of new developments expected for FY 2021 n During 1H 2021 a total of 5 buildings were delivered, representing 81,000 m2 n Strong delivery pipeline for 2H 2021 expected of >550,000m2 VGP Park San Fernando de Henares, Spain VGP Park Brasov, Romania VGP Park Wustermark, Germany VGP Park
Slide 13: Current development pipeline
Current development pipeline n At Jun 2021, 42 buildings were under construction, representing 1,127,000 m2 n This equates to € 69.4 million of new lease contracts n Portfolio Under Construction is 81.3% pre-let n 17 buildings with 426,000 m2 have been started up in VGP Park München, Germany H2 2021
Slide 14: Well advanced land bank to support future growth
Well advanced land bank to support future growth Build-up of Land bank (m2) Land bank1 – geographic breakdown 12,580,000 4,020,000 8,560,000 Other 21% Spain 8% Germany 21% 2,990,000 5,470,000 5,570,000 Slovakia 8% (700,000) 800,000 Netherlands 15% Czech Republic 13% Romania 14% Land owned Deployed D
Slide 15: 3. Financial performance
3. Financial performance
Slide 16: Income Statement – 1H 2021
Income Statement – 1H 2021 n Operating profit up €22.1mm to €240.0mm Income statement (€ million) 1H21 1H20 n Driven by higher share of net profits of joint ventures and Revenue 18.1 12.4 associates (up €65.8mm) partially offset by lower net Gross rental income 7.1 4.7 valuation gains on investment
Slide 17: Income Statement – 1H 2021 by segment
Income Statement – 1H 2021 by segment Investment Development Property and Asset Management € million 1H 21 1H 20 € million 1H 21 1H 20 € million 1H 21 1H 20 Gross rental income 7.1 4.7 Gross rental income - - Gross rental income - - Property operating expenses (0.3) (0.1) Property operating expenses
Slide 18: Balance sheet – assets as of Jun 2021
Balance sheet – assets as of Jun 2021 n Investment Properties of €1,264 mm 30 Jun '21 31 Dec '20 n Completed portfolio €195mm ASSETS n Under construction €709mm Investment properties 1,263.8 920.2 Investment in joint ventures and associates 752.3 654.8 n Development land €359mm Other non-current rec
Slide 19: Balance sheet – Shareholders’ equity and liabilities as of June 2021
Balance sheet – Shareholders’ equity and liabilities as of June 2021 30 Jun '21 31 Dec '20 n Shareholders’ equity of €1,434mm SHAREHOLDERS' EQUITY AND LIABILITIES n Up €129mm since Dec ’20, despite €75mm Shareholders' equity 1,434.4 1,305.7 dividend paid in 1H 2021 Non-current financial debt 1,343.9
Slide 20: 3. Summary and Outlook
3. Summary and Outlook
Slide 21: Summary and Outlook
Summary and Outlook Summary n Strong business performance across portfolio; achieved many new milestones and record net profit n Inflation of construction costs offset through higher rental prices and yield compression n Expanding our Corporate and Social Responsibility agenda n Advanced discussions
Slide 22: Appendix
Appendix
Slide 23: Overview of VGP Parks
Overview of VGP Parks Overview of VGP Parks by country Overview of VGP Parks as of 30 June 2021 23
Slide 24: Track record of the joint ventures: in excess of €1.4bn net cash proceeds
Track record of the joint ventures: in excess of €1.4bn net cash proceeds from first three joint ventures First JV: VGP European Logistics Second JV: VGP European Logistics 2 Third JV: VGP Park München Germany Austria Czech Republic Italy Hungary Netherlands Slovakia Portugal Romania Spain Closing I
Slide 25: Disclaimer
Disclaimer ABOUT VGP VGP is a pan-European developer, manager and owner of high-quality logistics and semi-industrial real estate. VGP operates a fully integrated business model with capabilities and longstanding expertise across the value chain. The company has a development land bank (owned or com