Corestate Capital Holding Sa · XETR:CCAP

Corestate Capital Holding Sa — H1 2018 Earnings Presentation

14 slides from Corestate Capital Holding Sa's earnings presentation, Aug 14, 2018

1. Slide 1: CORESTATE Capital H1-2018 Results

   CORESTATE Capital H1-2018 Results Dr. Michael Bütter (CEO) – Lars Schnidrig (CFO) 14 August 2018

2. Slide 2: Disclaimer

   Disclaimer This presentation contains forward-looking statements that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significant risks, as well as uncertainties and contingencies that a

3. Slide 3: Highlights H1 2018

   Highlights H1 2018 Operational Performance  Attractive organic growth with >5% RE AuMs  Solid H1 earnings fully in-line with budgets  All acquisitions from 2017 delivered sound results  Several new funds/products launched and currently in marketing process Corporate Structure  Roll-out of group

4. Slide 4: Development of Assets under Management

   Development of Assets under Management Increasing Real Estate AuMs Strong Sourcing Pipeline  Strong organic growth in Real Estate AuMs  Transaction volumes picking up pace  Run-down AuMs reduced as planned during the course of the year € 21.9bn € 21.9bn Run-down € 4.8bn € -0.9bn decrease € 5.7bn

5. Slide 5: Rewarding Innovative RE Products Facing Needs of Urban Living

   Rewarding Innovative RE Products Facing Needs of Urban Living Micro Living: CORESTATE to provide >2.7k new apartments in the next three years Hamburg Market driver Assets already  >1.4m single apartments are missing in Germany 1) in operation Düsseldorf Berlin Cologne  Rents are up for students/yo

6. Slide 6: Real Estate Debt – Highly Diversified with Favourable Locations

   Real Estate Debt – Highly Diversified with Favourable Locations Profile of HFS Mezzanine Funds end of June 2018  Total fund volume > € 1,2bn Residential  # of financed projects 57 76% Office  Ø size of mezzanine financing ~ € 21m 10%  >75% German residential Retail 14% Regional break down of cur

7. Slide 7: Decent Fee & Earnings Performance in Spite of Transaction Seasonality

   Decent Fee & Earnings Performance in Spite of Transaction Seasonality H1-2018 Revenue Stream (in m€ )  Large micro living deal with BVK in Q1 26.2 Acquisition related fees  More to come in H2-2018 28.4 1) 67.9 Asset & property mgt.  Very stable revenue stream Warehousing/  Will increase further

8. Slide 8: Financial Figures Fully on Track to Reach FY Targets

   Financial Figures Fully on Track to Reach FY Targets Key P&L Figures H1-2018 in m€ Aggr. Revenues 125.8 100%  Operating expenditure facing in H1 underlying and precursory deal cost to materialize our pipeline but Expenses from RE Investment Mgt. -34.4 27.3% also increasing client and regulatory nee

9. Slide 9: Key Debt Figures and Leverage

   Key Debt Figures and Leverage Debt overview as of 30 June 2018  Leverage will be reduced significantly in H2 Assets in placement process 776 Düsseldorf Stadttor Space to let: 29.3k sqm Anchor tenant: Government of NRW Occupancy rate: 100%; WALT: 8.3Y Bank & other Debt 183 Utrecht: Danone Research C

10. Slide 10: Outlook

    Outlook More to come in H2-2018  Deleveraging by placements of warehousing assets  New funds/products − “Highstreet VIII” (mid-cities) − Micro living in Spain and other European countries − “German opportunity” − “European Value-Add Investment program” − Specialized Fund for FMCG-assets − Expansio

11. Slide 11: Appendix – Research and Shareholder Information

    Appendix – Research and Shareholder Information Average target price € 67.8 (100% Buy) Upside to price target +47% +43% +66% +56% +41% +43% +34% +43% (€ 46.25 share price € 77 as of 10 Aug 2018) € 68 € 72 € 66 € 65 € 66 € 62 € 66 Buy Hold Sell 15 Mar 2018 30 Apr 2018 9 May 2018 19 Mar 2018 13 Mar 20

12. Slide 12: Appendix – H1-2018 Profit & Loss Statement

    Appendix – H1-2018 Profit & Loss Statement (€ m) H1/2018 H1/2017 Revenue from Acquisition Related Fees 26.2 9.1 Revenue from Asset and Property Management 67.9 14.3 Revenue from Promote and Sales Fees realized 0.3 13.1 Revenue from Real Estate Investment Management 94.3 36.5 Management expenses (34.

13. Slide 13: Appendix – Balance Sheet as of 30 June 2018

    Appendix – Balance Sheet as of 30 June2018 (€ m) 30.06.2018 31.12.2017 Non-Current Assets Goodwill 556.9 556.9 Intangible Assets 129.8 141.0 Investment in Associates and Joint Ventures 66.6 59.9 Total Non-Current Assets 935.0 915.8 Current Assets Inventories 348.9 268.3 Receivables 45.2 52.8 Cash an

14. Slide 14: Financial Calendar 2018 and Investor Contact

    Financial Calendar 2018 06 Sep 2018 Capital Markets Day, Frankfurt 14 Nov 2018 Publication Q3 financial report Dates subject to change Investor Contact CORESTATE Capital Holding S.A. CORESTATE Capital Group 4, rue Jean Monnet | L-2180 Luxembourg corestate-capital.com Dr. Kai G. Klinger Head of Inves

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