European Residential Real Estate Invt Tr
European Residential Real Estate Invt Tr — European Residential Real Estate Investment Trust — Q1 2024 Earnings Presentation
13 slides from European Residential Real Estate Invt Tr's earnings presentation, May 3, 2024
Slide 1: Canada's only European-focused multi-residential REIT
Canada’s only European-focused multi-residential REIT First Quarter 2024 Conference Call 1 | THIRD QUARTER CONFERENCE CALL
Slide 2: Disclaimer
Disclaimer This presentation and our answers to questions in today’s session may contain forward-looking information within the meaning of applicable securities laws. Forward-looking information may relate to the REIT’s future outlook and anticipated events or results. These statements are based on
Slide 3: Presenters
Presenters • President, CEO and Trustee at CAPREIT Mark Kenney • CAPREIT since 1998 CEO and Trustee • Director on Board of REALPAC • Former Board member & Chair of the Fed. of Rental Housing Providers of Ontario • Former founding Board member of the Greater Toronto Apartment Association • Vice Presi
Slide 4: Strong Operational Performance
Strong Operational Performance 98.5% €1,100 €1,050 ERES has achieved €1,000 strong growth in AMR alongside consistently high occupancy, even €950 within the continuously changing regulatory €900 framework. €850 €800 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23
Slide 5: First Quarter Update
First Quarter Update Business Update • The REIT closed on 24 single-suite dispositions during Q1’24 for an aggregate sales price of €7.6 million (excluding transaction costs). • Post period end, the REIT sold additional 42 suites for combined gross consideration of €10.8 million. Investment Update •
Slide 6: Financial Performance
Financial Performance Jenny Chou Chief Financial Officer 6 | THIRD QUARTER CONFERENCE CALL
Slide 7: First Quarter Financial Results
First Quarter Financial Results Three Months Ended March 31, 2024 2023 %∆ Operating Revenues (000s) €24,439 €23,380 4.5% Net Operating Income (NOI) (000s) €19,113 €17,850 7.1% Net Operating Income Margin1,2 78.2% 76.3% 1.9% Funds From Operations (FFO) €9,173 €9,244 0.8% FFO per Unit (Diluted) €0.039
Slide 8: Financial Position and Liquidity
Financial Position and Liquidity 60% 57% 58% 58% 56% 54% 51% 49% 49% €177 €190 €188 €189 €197 €165 €160 €156 ERES actively monitors leverage and Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 coverage ratios Available Liquidity (€M) 1 Ratio of Adjusted Debt to Market Value of Portfolio Covenant to
Slide 9: Mortgage Renewal Profile
Staggered Mortgage Renewal Profile Weighted Average Mortgage Term of 2.7 Years 4.75% 400 3.29% 2.51% 2.22% 100% of ERES’s 300 1.87% 1.69% Mortgage Renewal (€) 1.47% mortgages are financed with terms and 200 arrangements that result in fixed interest 100 227.0 219.6 payments, mitigating 187.8 118.0 i
Slide 10: Closing Remarks
Closing Remarks Mark Kenney Chief Executive Officer 10 | FIRST QUARTER CONFERENCE CALL
Slide 11: Maximizing Value for Unitholders
Maximizing Value for Unitholders Value Maximization Rent Maximization Turnover Indexation Conversion Individual Suite Suite Reletting Privatization 11 | FIRST QUARTER CONFERENCE CALL
Slide 12: Investment Highlights
Investment Highlights 1. Opportunity to invest in unique Canadian-listed European multi-residential REIT with initial focus on the attractive Netherlands market ERES has strong 2. Strong sponsorship by CAPREIT, Canada’s largest and best-in-class residential landlord sponsorship by CAPREIT, 3. Establ
Slide 13: Contact Us
Contact Us European Residential REIT 11 Church Street, Suite 401 Toronto, Ontario M5E 1W1 Canada m.kenney@capreit.net j.chou@capreit.net www.eresreit.com 13 | FIRST QUARTER CONFERENCE CALL
European Residential Real Estate Investment Trust — Q1 2024 Earnings Presentation on 6ix