Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España Real Estate SOCIMI — Investor Presentation (September 2019)
34 slides from Helios Re Socimi's investor presentation, September 2019
Slide 1: Corporate Presentation
Corporate Presentation September 2019
Slide 2: Index
INDEX 01 02 03 04 Company Investment Financial ESG Overview Highlights Results Summary 2
Slide 3: Company Overview
O1 Company Overview RETAIL .. / Le ACTON,
Slide 4: Lar España: Real retail value
Lar España Real retail value . . First Spanish REIT to IPO on the Spanish Stock Exchange with an 15 €1,462 Mn 580,235 outstanding quality, dominant and 100% owned portfolio. Assets Gross Asset Value sqm GLA Focused on creating both sustainable income and strong capital growth for shareholders. Solid
Slide 5: Company structure & shareholder overview
Company structure & shareholder overview Independent and experienced Board: Shareholder Overview 5 independent directors (out of 7) José Luis del Valle Roger Cooke Leticia Iglesias Other investors PIMCO 47.0% 20.0% Chairman and Independent Independent Independent Director Director Director Alec Emmo
Slide 6: Major corporate milestones in 2018 & H1 2019
Major corporate milestones in 2018 & H1 2019 Constantly seeking and executing value creating opportunities FEB APR JUN AUG OCT DEC APR Rivas Futura AGM +34% Galaria Investor Day +40% AGM Acquisition Asset Retail Park Asset Revaluation since Acq. €0.49 p.s. Revaluation Divestment EIB €0.80 p.s. Abadí
Slide 7: Investment Strategy focused on retail
Investment Strategy focused on retail Unique shopping centres & retail parks with growth potential SHOPPING CENTRES & RETAIL PARKS KEY INVESTMENT CRITERIA Dominant in its Value-creation Core+ catchment areas potential 100% Target levered ownership IRR>12% Unique exposure to real estate retail assets
Slide 8: The value of a retail platform
The value of a retail platform Main SSCC market players by owned GLA Lar España has consolidated its position among the top retail operators in Spain. Now, the target is to selectively increase GLA to generate revenue synergies Owned GLA (est.) # Shopping Nbr. Assets Centres Avg. GLA ownership per a
Slide 9: Strong Transformation + Innovation
Strong Transformation + Innovation TRANSFORMATION STRATEGY DIGITAL INNOVATION Customer Tenant Big Data Full Connectivity journey mix Customer Webs analysis enhancing Intelligence APPS WIFI Social Media Capex and On-site shopping Market Place Seeketing improvement centre intensive Click & Collect Mar
Slide 10: Not all retail is equal
Not all retail is equal Active management is key to be the reference in each market Footfall H1 2019 Sales H1 2019 Rental uplift from reletting activity Recurrent growth rates in new rents from re-tenanting 32.1 Mn visits €338.5 Mn Vs H1 2018 +1.3%3 +10.6% +0.5% +1.1%2 8.6% (2.1%1) H1 2018 H1 2019 1
Slide 11: Lagoh: A new concept of retail complex
Lagoh: A new concept of retail complex Opening on September 27th, 2019 c.15 Mn EXPERIENCE F&B RETAIL Exp. Annual Rent2 NOV JUL JUL SEP JUL SEP 2016 2017 2018 2018 2019 2019 Lagoh Project Start of €100 Mn Brand launch 98% GLA signed or Inauguration announcement construction works financing Lagoh comm
Slide 12: Lagoh: A new concept of retail complex
Lagoh: A new concept of retail complex Opening on September 27th, 2019 RETAIL, F&B AND MUCH MORE… 1ST EXPERIENCE RESORT FULLY COMMITED TO SUSTAINABILITY IN SEVILLE AND THE ENVIRONMENT ✓ Efficient and sustainable building MULTIADVENTURE certified by Breeam GIANT WAVE ✓ Sustainable construction proces
Slide 13: External manager: A real estate reference
External manager: A real estate reference Grupo Lar now owns Investment Management a 11.1% stake Agreement in Lar España, subject to a lock-up period Manager New IMA signed in 2018 Grupo LAR Key Facts 1 Family-owned Company +50Y of experience Retail Offices 39 Shopping centres invested, 9 Office bui
Slide 14: Investment Highlights
02 Investment Highlights 14
Slide 15: Investment highlights: Income generation as the main driver
Investment highlights Income generation as the main driver 1 3 5 7 Positive Attractive Highly attractive operational Best-in class dividend policy income profile trends driving manager + SBB growth programmes 2 4 6 8 Selective capex Leading the ESG through a Focused and & development digital respons
Slide 16: Highly attractive income profile; Focused and unique offering
Lar España Investment highlights 1 Highly attractive income profile 2 Focused and unique offering The only listed Spanish REIT in the continuous market A resilient portfolio of dominant shopping centres in First IPO of a €111 Mn rent offering pure-play exposure to an attractive portfolio attractive
Slide 17: Positive operational trends; Selective capex & development
Lar España Investment highlights 3 Positive operational trends driving growth 4 Selective capex & development deliver enhanced income growth Strong results Strong rental growth with a +2.1% increase in LfL VidaNova Parc recently successfully opened, with Smart mix of from active gross rental income
Slide 18: Best-in class manager; Leading the digital transformation
Lar España Investment highlights 5 Best-in class manager 6 Leading the digital transformation: TES Project (technology, engagement and sustainability) Technology improves customer experience, by Omnichannel combining physical and digital strategies. It also helps European JVs strategy Managed by Gru
Slide 19: Attractive dividend policy + SBB programmes; ESG
Lar España Investment highlights 7 Attractive dividend policy + SBB programmes 8 ESG through a responsible management of our assets 100% Ordinary dividend: 11.7% Environmental: Responsible management, shopping 5% of NAV dividend yield sustainability certifications, environmental awareness centres ov
Slide 20: Financial Results H1 2019
03 Financial Results H1 2019 20
Slide 21: Strong operational results in H1 2019
Strong operational results in H1 2019 13.6% 59.1% Portfolio revaluation LfL Lagoh revaluation €10.78 +168% since June 2018 since Dec 2018 EPRA NAV p.s.1 EBITDA RESULTS vs H1 2018 44.6% 445.5% +2% Portfolio revaluation LfL Lagoh revaluation vs Q1 2019 since acquisition since Acquisition Lagoh c.50% r
Slide 22: Lar España performance: A story of growth
Lar España performance A story of growth Retail Occupancy Rate Retail GAV (€ Mn) Retail GAV 96.0% 95.0% 94.8% 95.0% Total GAV Revaluation since acquisition 1,199 1,376 1,451 93.7% 94.0% 962 92.1% 40% 45% 92.0% 614 237 24% 90.0% 4% 14% Q4 2015 Q4 2016 Q4 2017 Q4 2018 H1 2019 2014 2015 2016 2017 2018
Slide 23: Successful & strong financial key figures delivered in H1 2019
Successful & strong financial key figures delivered in H1 2019 16 €38.5 Mn +2.1% LfL1 Assets GRI vs H1 2018 €1,462 Mn €23.2 Mn +168% €968.5 Mn 11.7% GAV EBITDA vs H1 2018 EPRA NAV ROE 580,235 €646 Mn 2.2% €10.782 6.9% GLA sqm Financial Debt Cost of Debt EPRA NAV per share ROA €75 Mn €488 Mn 33% 6.0%
Slide 24: Solid retail performance driven by robust operating results in H1 2019
Solid retail performance driven by robust operating results in H1 2019 Retail portfolio yield Operating results Commercial activity 6.5% Potential +2.1% +2.4% growth LfL GRI1 LfL NOI1 €4.1 Mn 23,337 sqm Negotiated rent Rotated area 6.0% +40.4% -18.7% 5.8% Lease incentives1 Turnover rent1 66 10.6% 95
Slide 25: H1 2019 Lar España Asset Appraisal
H1 2019 Lar España Asset Appraisal Total Portfolio H1 2019 Valuation €1,462 Mn 44.6% 13.6% 5.5% Since FY 2018 LfL H1 2019/18 Since Acquisition Including Capex Invested 25
Slide 26: Consolidated Income Statement
Consolidated Income Statement (€ Millions) P&L Due to the change in the perimeter, H1 2019 H1 2018 P&L H1 2018 and H1 2019 are not comparable Revenues 38.5 39.8 Other income 1.2 2.5 Asset Type Divestment Date Personnel expenses (0.2) (0.3) Divested in H2 2018 Other expenses (16.4) (36.7) Change in t
Slide 27: Consolidated Income Statement Pro-forma Retail Portfolio
Consolidated Income Statement Pro-forma Retail Portfolio Consolidated Income Statement (€ Millions) (€ Millions) Chg% P&L Retail portfolio P&L H1 2019/18 H1 2019 H1 2018 H1 2019 H1 2018 Revenues 38.5 39.8 Revenues 38.3 35.9 +6.7% Other income 1.2 2.5 Other income 1.1 2.5 Personnel expenses (0.2) (0.
Slide 28: ESG Summary
04 ESG Summary 28
Slide 29: Lar España's approach to ESG
Lar España´s approach to ESG Environmental Social Governance Responsible management Active listening Ethics and Integrity Sustainability certifications Social initiatives Independent Board Environmental awareness Accessibility Risk Management Innovation Wealth creation Transparency Energy efficiency
Slide 30: Environmental Innovation
Environmental Innovation Energy efficiency Water management Air quality Lighting Presence detector Complex control systems for ventilation Climate control Watering systems Air purifier systems Building systems Cooling towers Solar power Other lines of initiative Alternative energy sources Tri-genera
Slide 31: Social Society-based initiatives
Social Society-based initiatives Business Citizen Social climate Health and oportunities participation & values well-being + 225 days + 28 NGOs +€212,000 + 25,500 Kg + 25,000 Kg of environmental and charities earmarked to of clothing donated of food collected in initiatives at our collaborated with
Slide 32: Governance Action plan
Governance Action plan ✓ Experienced and majority independent Board of Directors (5 of 7 members): Complying with the best 16 meetings in 2018 practices in the corporate governance field ✓ Action Plan main objectives: Strong governance TRANSPARENCY Transparency, business ethics, corporate social res
Slide 33: Disclaimer
DISCLAIMER This document has been prepared by Lar España Real Estate SOCIMI, S.A. (the “Company”) for information purposes only and it is not a regulated information or information which has been subject to prior registration or control by the Spanish Securities Market Commission. This document neit
Slide 34: Follow us
Follow us www.larespana.com info@laespana.com Lar España Real Estate SOCIMI Lar España App
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