Irish Residential Properties Reit Plc · EURONEXT:IRES
Irish Residential Properties Reit — H1 2025 Earnings Presentation
26 slides from Irish Residential Properties Reit's earnings presentation, Aug 8, 2025
Slide 1: Irish Residential Properties REIT Plc 2025 Interim Results Presentation
Irish Residential Properties REIT Plc 2025 Interim Results Presentation Six Months to 30 June 2025
Slide 2: Disclaimer
Disclaimer Cautionary Statements contents or otherwise arising in connection with this presentation. generally state that the data contained therein have been obtained This presentation has been prepared by Irish Residential Properties Certain financial and statistical information contained in this
Slide 3: Agenda
Agenda 1. Results Highlights 2. Strategy & Operating Model 3. Regulatory Landscape 4. Financial Results 5. Sustainability 6. Outlook 3 I-RES REIT Plc | Interim Results 2025
Slide 4: Results Highlights
Results Highlights Eddie Byrne, CEO ‘The first six months of the year have seen a step change in our operational and financial performance leading to significant improvements in margins and earnings. We have made real progress on our strategic initiatives including leveraging our operational capabil
Slide 5: Continued Earnings Growth Delivered Through A Focus On Operational Efficiency
Results Highlights Continued Earnings Growth Delivered Through A Focus On Operational Efficiency +150 bps +2.9% +9.5% 2.36c Proposed Interim Dividend Per Share2 Increase In NRI Margin %2 Adj. EPRA EPS Growth2 Adj. Earnings Growth2,3 +25.5% year-on-year 5.2% 99.5% 19% 25%+ EPRA Net Initial Yield1 Pre
Slide 6: Strategy & Operating Model
Strategy & Operating Model Eddie Byrne, CEO 6
Slide 7: We Are Executing On Our Clearly Defined Strategic Pillars
Strategy & Operating Model We Are Executing On Our Clearly Defined Strategic Pillars Strategic Pillars & Objectives H1 2025 Progress ✓ +150bps NRI Margin at 78.0% (H1 2024: 76.5%). Leveraging Leverage market-leading operating platform and ✓ +2.4% Adj. EPRA Earnings Growth & +2.9% Adj. EPRA EPS Growt
Slide 8: Return Of The Market Opportunity
Strategy & Operating Model Return Of The Market Opportunity Improving Economic & Regulatory Backdrop I-RES Well Positioned To Take Advantage ► Dublin PRS assets have repriced with yields expanding 115 bps peak-to- Asset disposal programme generating strong proceeds (in trough from Dec-2021 to today
Slide 9: Unique, Market Leading Operating Platform Structured To Perform
Strategy & Operating Model Unique, Market Leading Operating Platform Structured To Perform Operational Corporate People Property Management & Portfolio & Investment Legal, Risk & Property Maintenance Leasing Finance Corporate Team HR IT Operations Management Compliance End-to-end property Effective
Slide 10: Regulatory Landscape
Regulatory Landscape Eddie Byrne, CEO 10
Slide 11: Government Announces Positive Changes To Rent Regulation Frameworks
Regulatory Landscape Government Announces Positive Changes To Rent Regulation Frameworks ► In June 2025, the government announced reforms to the rental sector, with the aim of boosting inward investment, increasing housing I-RES Portfolio supply, and enhancing tenant protections1. ► This announcemen
Slide 12: Financial Performance
Financial Performance Brian Fagan, CFO 12
Slide 13: Growth Delivered Through Continued Operational Excellence in H1 2025
Financial Performance Growth Delivered Through Continued Operational Excellence in H1 2025 Income Statement (€m)1 30 June 2025 30 June 2024 Change (%) Unit count at period end 3,652 3,728 (2.0%) Earnings Growth Achieved Through: Revenue 42.6 42.8 (0.4%) ✓ Implementing Cost Management Initiatives & D
Slide 14: Investment Properties Valuation; Prime PRS Yields Experience A Further Period of Stabilisation
Financial Performance Investment Properties Valuation Prime PRS Yields Experience A Further Period of Stabilisation Yield Yield Prime yield Spread To Gov 10-yr Bond Yields Balance Sheet 30 June 2025 31 December 2024 City (Dec 2021) (Feb 2025) (Jan 2025) Berlin 2.10% 3.35% 77 bps Total Property Value
Slide 15: Financial Position Remains Robust
Financial Performance Financial Position Remains Robust Successful Refinancing Provides Capacity And Flexibility To Execute On Our Strategic Objectives ► The Company announced the successful refinancing of its existing Revolving Credit Facility (“RCF”) in March 2025. Financing 30 June 2025 31 Decemb
Slide 16: Executing On Asset Recycling Strategy
Financial Performance Executing On Asset Recycling Strategy Asset Recycling Strategy Recycling Programme H1 2025 Optimising Portfolio Mix 16 25%+ €6.6m 16 Units Disposed In Premium To Book Gross Proceeds In Additional Units In A H1 2025 Values Achieved The Period Sales Process Enhancing Location & S
Slide 17: Sustainability
Sustainability Eddie Byrne, CEO 17
Slide 18: Building A Sustainable And Responsible Business
Sustainability Building A Sustainable And Responsible Business Our Strategy Is Underpinned By Our Commitment To Sustainability Sustainability Strategic Pillars • Board Director with responsibility for Workforce Engagement • Gold Award for EPRA Sustainability Best Practices Recommendations • 100% of
Slide 19: Outlook
Outlook Eddie Byrne, CEO 19
Slide 20: Outlook Is Strengthened By Continued Strong Performance & Improving Market Conditions
Outlook Outlook Is Strengthened By Continued Strong Performance & Improving Market Conditions I-RES Positioned For Continued Strong Performance Supported By An Improving Market Environment Strong Balance Sheet Improved Macroeconomic Backdrop ▪ LTV within target range, high visibility, supported by s
Slide 21: Exceptionally Well Positioned To Take Advantage Of The Market Opportunity
Outlook As a Unique, Internally Managed Business With Significant Operating Leverage, I -RES Is Exceptionally Well Positioned To Take Advantage Of The Market Opportunity ✓. Asset disposal programme generating strong proceeds (in excess of 25% above book value which is equivalent to approximately a c
Slide 22: Appendix
Appendix 22
Slide 23: Modern Portfolio With Strong Performance Metrics
Portfolio Overview Modern Portfolio With Strong Performance Metrics Modern Portfolio Years 11% 8% 2 to 5 9% 6 to 9 9% 10 to 14 Property Portfolio Performance 30 June 2025 31 December 2024 15 to 19 63% >20 Annualised Passing Rent (€’000) 86,628 86,461 % commercial 6% 6% In Attractive Locations 9% Sou
Slide 24: Market Fundamentals Remain Exceptionally Strong
Market Fundamentals Market Fundamentals Remain Exceptionally Strong Irish Population Growth Forecast to Continue Housing Market Remains Constrained With Completions Continuing To Forecast Lag Government Targets 6.50 120,000 Millions Housing Deliveries Fell In 2024, With Apartment Output Decreasing A
Slide 25: Ireland Remains A Compelling Location For Investment
Market Fundamentals Ireland Remains A Compelling Location For Investment Unemployment Rate Remains Close To All-time Lows Inflation Has Moderated In Line With The Central Bank’s Target Level % 12.0 10.0% 9.3% 11.0 9.0% 10.0 8.0% 9.0 7.0% 8.0 6.0% 7.0 5.9% 5.0% 6.0 4.0% 5.0 3.0% 4.0% 1.8% 4.0 2.0% 3.
Slide 26: Thank you for your time
Thank you for your time For more information please visit: www.iresreit.ie/investors SouthXW94 Hanover DO2 www.i-res.ie Ireland Dock Quay House South Dock House Hanover Quay DO2 XW94 Ireland www.i-res.ie
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