Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España Real Estate SOCIMI — Q3 2015 Earnings Presentation
24 slides from Helios Re Socimi's earnings presentation, Nov 13, 2015
Slide 1: Q3 2015 Financial Results
Q3 2015 Financial Results 13th November, 2015 www.larespana.com Lar España Real Estate SOCIMI, S.A. (LRE) – November, 2015
Slide 2: Lar España's presenting team
Q3 2015 Financial Results - Lar España Real Estate Lar España’s presenting team MIGUEL PEREDA Board Member of Lar España and Co-CEO of Grupo Lar SERGIO CRIADO CFO of Lar España JON ARMENTIA Corporate Manager of Lar España JORGE PEREZ DE LEZA Head of European Operations of Grupo Lar JOSE MANUEL LLOVE
Slide 3: Financial Highlights: Accelerating business performance and portfolio growth
Q3 2015 Financial Results - Lar España Real Estate Financial Highlights Accelerating business performance and portfolio growth Strong asset contribution Solid signs of asset value generation and confirmation of consumption improvement +2% Growth in Footfall; +6% in average sales per customer; +7% in
Slide 4: Agenda
Agenda 1 Financial Results Q3 2015 2 Excellent accretive deals since July’s capital increase 3 On track to meet targets / Attractive pipeline ahead Lar Lar España España Real Real Estate Estate SOCIMI, SOCIMI, S.A. (LRE) –– November, S.A. (LRE) November, 2015 2015 4
Slide 5: Consolidated P&L (IFRS) and Consolidated Balance Sheet (IFRS)
Q3 2015 Financial Results - Lar España Real Estate Consolidated P&L (IFRS) and Consolidated Balance Sheet (IFRS) Positive financial performance, but still expecting ramp-up phase Consolidated Income Statement (Thousands of Euros) Consolidated Balance Sheet (Thousands of Euros) 9M 2015 9M 2014 Assets
Slide 6: Financial Indicators as of September 30th, 2015
Q3 2015 Financial Results - Lar España Real Estate Financial Indicators as of September 30th, 2015 + 10% of EPRA Annualized rent compared to Q2 2015 GAV1 Relative growth figures by segment up to June 2015 8% 6.10% 6% EPRA Annualized Net Rent of c.€40m as of 3.50% 30th of September, +10% more than Q2
Slide 7: Lar España's portfolio at a glance (Q3'15)
Q3 2015 Financial Results - Lar España Real Estate Q3 2015 Portfolio Breakdown and EPRA KPI’s Lar España’s portfolio at a glance (Q3’15) Residential Logistics 4% 17% GLA Logistics 41% Rental Income breakdown by Retail Offices Retail 58% by asset class 62% asset class 21% Offices 9% EPRA Net Initial
Slide 8: Retail: Active management to enhance shopping experience
Q3 2015 Financial Results - Lar España Real Estate Retail Active management in place to enhance shopping experience Top anchored tenant mix with a balanced offer of attractive retailers, leisure activity and food & drink 960 mall operators and 81 pop-up stores 28.2 million visits Intense letting act
Slide 9: Retail: Strong performance grounded on intense letting activity
Q3 2015 Financial Results - Lar España Real Estate Retail Strong performance grounded on intense letting activity and boosting shopping experience Strong business evolution Diversified retail portfolio 8,516 Total GLA, of 7 9 1 5 +64 which 1,193 Retail 8 12 Complex signed GLA are new contracts letti
Slide 10: Offices and Logistics: Positive results by active property management
Q3 2015 Financial Results - Lar España Real Estate Offices and Logistics Positive Results achieved by active property management Active Management Strategy in Office Properties and Logistics Warehouses Offices: 1 Joan Miró ~ €8m of annualised Net Rental Income 2 1 2 Almussafes EGEO BUILDING AR
Slide 11: Residential: Juan Bravo project progresses on schedule
Q3 2015 Financial Results - Lar España Real Estate Residential Juan Bravo project progresses on schedule and confirms high interest of potential buyers Done Demand Test, Waiting List, selective off market reservations Fine tuned preliminary design with potential customers’ feedback 1. US Embassy
Slide 12: Agenda
Agenda 1 Financial Results Q3 2015 2 Excellent accretive deals since July’s capital increase 3 On track to meet targets / Attractive pipeline ahead Lar Lar España España Real Real Estate Estate SOCIMI, SOCIMI, S.A. (LRE) –– November, S.A. (LRE) November, 2015 2015 12
Slide 13: Excellent accretive deals strengthen portfolio's rent generation
Excellent accretive deals since July’s capital increase - Lar España Real Estate Financial Highlights Excellent Accretive deals since last capital increase strengthens portfolio’s rent generation €852.6m invested, in a value added portfolio, with c.€90m of committed capex c.50% of portfolio growth s
Slide 14: €135m Capital increase enabling accretive deals after mid 2015
Excellent accretive deals since July’s capital increase - Lar España Real Estate July 2015 Capital Increase €135m Capital increase enabling for accretive deals after mid 2015 The capital increase transaction was met with strong support from existing and new investors. Initial take-up of the rights o
Slide 15: Lar España consolidates a diversified and stable rental income portfolio
Excellent accretive deals since July’s capital increase - Lar España Real Estate Portfolio overview as of 31th of October Lar España consolidates a diversified and stable rental income portfolio All figures stated at the acquisition date Weighted Avg. W.A.U.L.T as Avg. Initial Annual Net Rent Asset
Slide 16: Acquisition of Megapark, Bilbao
Excellent accretive deals since July’s capital increase - Lar España Real Estate Acquisition of Megapark, Bilbao The acquisition of Megapark for €170m makes Lar España’s portfolio one of the most attractive real estate platforms in Spain Unique asset by location, size and tenant line up, located in
Slide 17: Megapark: Game-changing off market deal
Excellent accretive deals since July’s capital increase - Lar España Real Estate Acquisition of Megapark, Bilbao Game-Changing Off Market Deal, representing over 20% of Lar España’s Current Net Rental Income Prime Regional Retail Park acquired @ above market prime Passing Rent Distribution yields Lo
Slide 18: Project Cruce de Caminos: Retail Park and Gallery in Sagunto
Excellent accretive deals since July’s capital increase - Lar España Real Estate Retail Development Update Project Cruce de Caminos: Retail Park and Gallery in Sagunto (Valencia) Location and Profile Capex Located in Sagunto 25 Km north of Valencia, in the east coast o Spain. Estimated 2015-2016
Slide 19: Agenda
Agenda 1 Financial Results Q3 2015 2 Excellent accretive deals since July’s capital increase 3 On track to meet targets / Attractive pipeline ahead Lar Lar España España Real Real Estate Estate SOCIMI, SOCIMI, S.A. (LRE) –– November, S.A. (LRE) November, 2015 2015 19
Slide 20: Very attractive pipeline ahead: on track to end 2015 with over €1 billion
On track to meet targets / Attractive pipeline ahead - Lar España Real Estate Portfolio construction after share capital increase Very attractive pipeline ahead: on track to end 2015 with more than 1 Billion of euros in assets invested Pipeline under negotiation + capex: 2.000 Pipeline under €867m n
Slide 21: Flexible Balance Sheet structure provides stability to our strategy
On track to meet targets / Attractive pipeline ahead - Lar España Real Estate Debt overview Flexible Balance Sheet structure provides stability to our strategy – Cost of Bank Debt Euribor + 1.87%,while >70% of the debt is fixed Prudent Financial Management: 72% exposure to fixed debt and Back-loaded
Slide 22: Conclusions
Conclusions - Lar España Real Estate Conclusions Accelerating business performance and portfolio growth Strong performance of the assets Solid signs of asset value generation thanks to active management strategy in place and confirmation of consumption improvement Consolidating rent generation thank
Slide 23: Disclaimer
Disclaimer DISCLAIMER. RISKS AND FORWARD-LOOKING STATEMENTS • 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 Spani
Slide 24: Lar España Real Estate SOCIMI, S.A. (LRE) – November, 2015
Lar España Real Estate SOCIMI, S.A. (LRE) – November, 2015
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