Deutsche Konsum Real Estate Ag · XETR:DKG
Deutsche Konsum Real Estate — Deutsche Konsum REIT-AG — FY2023/2024 Earnings Presentation
36 slides from Deutsche Konsum Real Estate's earnings presentation, Dec 19, 2024
Slide 1: FY 2023/2024 Financial Results
1 FY 2023/2024 FINANCIAL RESULTS 1 October 2023 – 30 September 2024 19 December 2024 FY 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 2: Disclaimer
Disclaimer 2 The material in this presentation has been prepared by Deutsche Konsum REIT-AG (“DKR”) and is a general background information about DKR’s activities current as at the date of this presentation. This information is given in summary form and does not purport to be complete. Information i
Slide 3: Highlights
3 HIGHLIGHTS FY 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 4: Highlights FY 2023/2024
HIGHLIGHTS FY 2023/2024 4 FY 2023/2024 highlights and results Stable operational business / FFO impacted by higher debt costs Rental income decreased to 77.4 MEUR (down 2.9% y-o-y) – due to portfolio sales Net rental income slightly decreased to 48.0 MEUR (down 0.5% y-o-y), mainly due to portfol
Slide 5: Financial Key Figures
FINANCIAL KEY FIGURES 5 Slight decline of Rental Income due to property sales; FFO also impacted by rising financing costs Rental income FFO FFO per share (k EUR) (k EUR) (EUR) 79.722 77.438 33.131 0,94 27.963 0,80 FY 2022/2023 FY 2023/2024 FY 2022/2023 FY 2023/2024 FY 2022/2023 FY 2023/2024 aFFO pe
Slide 6: Property Portfolio
6 PROPERTY PORTFOLIO FY 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 7: Property Portfolio
PROPERTY PORTFOLIO 7 Property portfolio consists of 167 properties with approx. 984,200 sqm >> Portfolio development: 30/09/2022 30/09/2023 30/09/2024 Schleswig- Mecklenbu Holstein rg- Pommeran Number of properties 175 184 167 ia Rental space (sqm) 1,048 1,083 994 Lower Total fair value (MEUR) 1,050
Slide 8: Property Portfolio: annualized rent and vacancy
PROPERTY PORTFOLIO 8 Annualized rent and vacancy negatively effected by the insolvency of warehouse group “real”, property sales Annualized rent (m EUR) Vacancy (%) 79.2 72,9 73,2 14,0 69,7 63,1 11,7 11.7 10.7 9.9 30.09.2020 30.09.2021 30.09.2022 30.09.2023 30.09.2024 30.09.2020 30.09.2021 30.09.202
Slide 9: Tenant Structure
TENANT STRUCTURE 9 66% Rent contribution from non-cyclical tenants (79% including DIY) >> Rent contribution by tenant classification (m EUR)1: >> Rent contribution by major tenants1 : Non- Rent WALT Tenant group Brands Other cyclical cyclical (m EUR) in years uses rents Edeka Group 7.7 4.3 Schwarz G
Slide 10: Tenant Structure: lease expiry
TENANT STRUCTURE 10 Resilient rental income/ 49% in 5+ year leases 1 30 25 20 Rent p.a. MEUR 15 10 5 0 1 2 3 4 5 6+ without expiration • WALT as of 30 September 2024: 4.4 years 1 Based on current portfolio (167 properties) FY 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 11: Tenant Structure: strong tenant partnerships
TENANT STRUCTURE 11 DKR has strong tenant partnerships >> Number of leases with the same tenant group1: No. of lease contracts • Multiple leases with the same tenant strengthens DKRs position towards the tenants 1 Based on current portfolio (167 properties) FY 2023/2024 financial results | Deutsche
Slide 12: Valuation Potential of the Portfolio
VALUATION POTENTIAL OF THE PORTFOLIO 12 Share currently trades around 10% yield (fully diluted) >> EPRA NTA impact from factor increases (c.p.) shows further upside potential: Hypothetical Annualized Hypothetical Portfolio Net debt EPRA NTA Number of EPRA NTA total portfolio valuation Yield value Ne
Slide 13: Financing
13 FINANCING FY 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 14: Financing: Debt structure
FINANCING 14 Debt structure >> Financial KPIs: Debt allocation (MEUR, outstanding debt as of 30/09/2024) Corporate bond 30/09/2024 30/09/2023 V. % 2021/2031 (unsecured) Total financial debt (loans + bonds), MEUR 549.5 638.1 -13.9 12,1 7,9 30,0 Promissory notes Ø Senior secured debt cost, % p.a. 2.86
Slide 15: Financials FY 2023/2024
15 FINANCIALS FY 2023/2024 FY 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 16: Condensed IFRS balance sheet
FINANCIALS FY 2023/2024 16 Condensed IFRS balance sheet k EUR 30/09/2024 30/09/2023 k EUR 30/09/2024 30/09/2023 Assets Equity and liabilities Portfolio devaluation of Investment properties 860,963.5 989,013.0 Subscribed capital 35,155.9 35,155.9 1.7% as of 30 Other non-current assets 911.4 954.1 Cap
Slide 17: LTV and NAV / EPRA NTA
FINANCIALS FY 2023/2024 17 LTV and NAV / EPRA NTA >> LTV (loan-to-value): >> NAV / EPRA NTA per share: k EUR 30/09/2024 30/09/2023 EPRA NAV Conversion EPRA NTA (undiluted) effects of (diluted) k EUR Bank loans 370,624.4 423,416.1 convertible 30/09/2024 bonds 30/09/2024 Convertible bonds 46,992.0 36,
Slide 18: Condensed IFRS income statement
FINANCIALS FY 2023/2024 18 Condensed IFRS income statement Split of net operating costs: 01/10/2023 – 01/10/2022 – k EUR % 30/09/2024 30/09/2023 thereof FY FY (k EUR) 2023/2024 2022/2023 Rental income 77,437.6 79,722.2 -2.9 Non-recs -7,128 -12,184 Income from recharched operating costs 19,943.3 16,3
Slide 19: FFO reconciliation
FINANCIALS FY 2023/2024 19 FFO reconciliation >> FFO/aFFO: 01/10/2023 – 01/10/2022 – % k EUR 30/09/2024 30/09/2023 Total period income 1,967.7 -180,992.1 >100 +/- Income taxes 14,758.3 50,208.9 -70.6 Higher deferred taxes in + Depreciation of other assets 131.4 59.9 >100 previous year Portfolio deva
Slide 20: Headline Earnings per share (HEPS) reconciliation
FINANCIALS FY 2023/2024 20 Headline Earnings per share (HEPS) reconciliation according to JSE rules >> HEPS: 01/10/2023 – 01/10/2022 – % k EUR 30/09/2024 30/09/2023 Total period income (undiluted) 1,967.7 -180,992.1 >100.0 -/+ Revaluation gains / losses, IAS 40 30,135.5 113,528.4 -73.5 -/+ Revaluati
Slide 21: Share information
21 Share information FY 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 22: Share Information
SHARE INFORMATION 22 >> Basic Share Information >> Shareholder Structure As at 17/12/2024 Paladin Asset Management / Versorgungsansta Marcel Maschmeyer ISIN DE000A14KRD3 lt des Bundes und 4.39% der Länder AöR Share price (Xetra, 18 December 2024) EUR 3.72 13.68% Symbol DKG MFS Investment Shares outs
Slide 23: Financial calendar and IR contact
23 Financial calendar and IR contact FY 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 24: Financial Calendar and IR Contact
FINANCIAL CALENDAR AND IR CONTACT 24 >> Financial calendar >> Conferences Date Date 19/12/2024 Publication of the final annual Nov 2025 German Equity Forum statements/annual financial report for the financial year 2023/2024 14/02/2025 Publication of the quarterly statement for the first quarter of 2
Slide 25: ESG
25 ESG FY 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 26: ESG at DKR I
ESG at DKR I 26 Building Tomorrow: DKR's ESG Vision and Strategic Blueprint At Deutsche Konsum REIT-AG, we are committed to fostering sustainable urban development by integrating ecological, social, and governance principles into our business operations. We strive to minimize our environmental foo
Slide 27: ESG at DKR II
ESG at DKR II 27 DKR has set up the following measures to enhance ESG conformity Environmental Social Governance • EV Charging Stations: 148 DKR locations • Diverse Workforce: Commitment to • Corporate Governance: Adherence to the equipped with state-of-the-art electric vehicle maintaining an intern
Slide 28: ESG at DKR III
ESG at DKR III 28 Achievements Driving Our Sustainability Journey Expansion of DGNB Gold-Certified Assets in 2023: This year, DKR proudly expanded its portfolio of DGNB Gold-certified properties, with flagship projects like the PENNY Markt in Stralsund and the REWE Market in Bitterfeld. These cert
Slide 29: ESG at DKR IV
ESG at DKR IV 29 Achievements Driving Our Sustainability Journey Advancing Carbon-Free Gas Initiatives: DKR has taken a significant step toward reducing its carbon footprint by purchasing carbon-free gas certificates. These certificates, valid from 2021 to 2025, offset the gas consumption across o
Slide 30: ESG at DKR V
ESG at DKR V 30 DKRs Sustainability Report published >> ESG reporting Sustainability Report for the calendar year 2023 published and available on DKR’s website DKR‘s Sustainability Reports for the calendar years 2019, 2020, 2021 and 2022 have been awarded with the EPRA sBPR Silver Award DKR wa
Slide 31: Appendix
31 APPENDIX FY 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 32: Historical KPI Development
HISTORICAL KPI DEVELOPMENT 32 Continuously high growth since inception Financial year 2023/2024 2022/2023 2021/2022 2020/2021 2019/2020 2018/2019 2017/2018 2016/2017 Income statement Rental income (k EUR) 77,438 79,722 74,390 69,667 56,231 41,978 28,601 19,249 FFO (k EUR) 27,963 33,131 41,115 34,991
Slide 33: DKR Business Model at a Glance
DKR BUSINESS MODEL AT A GLANCE 33 Business Strategy: Real Estate investor focused on food-retail anchored properties German retail property portfolio in established micro locations • 167 retail properties • BEUR 0.9 GAV and 70m EUR annualized rents • Micro locations predominantly in small to mid-siz
Slide 34: Management
MANAGEMENT 34 Experienced and committed management Alexander Kroth (CIO) Kyrill Turchaninov (CFO) Alexander joined DKR in January 2017 and Kyrill joined DKR in June 2024 and is initially set up the Company together with Rolf responsible for Finance, Accounting and IR. Elgeti. He is in charge of DKRs
Slide 35: Partners
PARTNERS 35 Strong external property partners >> DKRs main external management partners: Asset Manager Elgeti Brothers GmbH Property Manager Elgeti Brothers GmbH Appraiser Technical Property Developer IT and Management Software Providers FY 2023/2024 financial results | Deutsche Konsum REIT-AG
Slide 36: Portfolio Details
PORTFOLIO DETAILS 36 DKRs detailed property portfolio Please find a detailed overview of DKR‘s property portfolio online under the following links: DKR property portfolio overview as at 30 September 2024 (Excel file) Interactive Map FY 2023/2024 financial results | Deutsche Konsum REIT-AG
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