Barcino Property Socimi Sa · BME:YBAR
Barcino Property Socimi Sa — Q4 2023 Earnings Presentation
17 slides from Barcino Property Socimi Sa's earnings presentation, Feb 22, 2024
Slide 1: Other Relevant Information: valuation and NAV announcement
FREE TRANSLATION – IN CASE OF DISCREPANCY, THE SPANISH VERSION PREVAILS Barcelona, 22 February 2024 Barcino Property SOCIMI, S.A. (hereinafter, the "Company" or "Barcino") in accordance with the provisions of article 17 of Regulation (EU) nº 596/2014 on market abuse and article 227 of Law 6/2023, of
Slide 2: Q4 2023 and FY 2023 Results Presentation
BARCINO PROPERTY SOCIMI, S.A. Q4 2023 and FY 2023 Results Presentation FEBRUARY 2024
Slide 3: Disclaimer
2 - BARCINO PROPERTY SOCIMI, S.A. DISCLAIMER This presentation (the “Presentation”) has been prepared by Barcino Property SOCIMI, and future events could differ materially from those anticipated in such statements. S.A. (“Barcino”) and Vistalegre Property Management, S.L., –the Barcino’s managing Ac
Slide 4: Table of Contents
3 - BARCINO PROPERTY SOCIMI, S.A. TABLE OF CONTENTS 01/ 04/ 07/ Business Review Remaining capex 2023 forecast compliance 02/ 05/ 08/ Q4 2023 results FY 2023 results RICS valuation and NAV per share 03/ 06/ 09/ Q4 2023 KPIs FY 2023 KPIs Appendix
Slide 5: Business Review
4 - BARCINO PROPERTY SOCIMI, S.A. 01/ BUSINESS REVIEW Q4 AND FY 2023 Unaudited figures DISPOSALS OPERATING RESULTS BROADLY IN LINE WITH EXPECTATIONS ! During Q4 2023, Barcino has completed the sale of 7 residential units for €2.5m. Barcino has deposit agreements for the sale of 3 additional ! Q4 202
Slide 6: Q4 2023 Barcino Property
5 - BARCINO PROPERTY SOCIMI, S.A. 02/ Q4 2023 BARCINO PROPERTY In EUROS Q4 2023 (*) Q4 2022 (*) Var 23/22 % P&L Rental Income 670,831 530,019 GROSS OPERATING INCOME: GENERAL AND ! Increase in sales of €141k, +27% yoy ADMINISTRATIVE COSTS: GROSS OPERATING INCOME (GOI) 670,831 530,019 27% ! BA sales u
Slide 7: Q4 2023 KPIs
6 - BARCINO PROPERTY SOCIMI, S.A. 03/ Q4 2023 KPIs LFL MID TERM-REVENUES OCCUPANCY MID-TERM 260.000 100% 250.000 96% +1% -6% 240.000 92% 230.000 88% 220.000 84% Q4 2022 * Q4 2023 * Q4 2022 * Q4 2023 * LFL mid term Q4 revenue growth based on Occupancy down from 96% to 90% 45 units (**) +1% YOY Based
Slide 8: Remaining Capex
7 - BARCINO PROPERTY SOCIMI, S.A. 04/ REMAINING CAPEX ! Currently remaining expected capex for last CAPEX 2022 2023* REMAINING building requiring significant refurbishement is of c.€0.6m. Major Capex 3.1 2.5 0.6 ! There are still life leases and long-term lease units that may benefit from refurbishm
Slide 9: FY 2023 Results
8 - BARCINO PROPERTY SOCIMI, S.A. 05/ FY 2023 RESULTS BARCINO PROPERTY In EUROS 2023 (*) 2022 Var 23/22 % P&L Rental Income 2,523,596 2,015,994 GROSS OPERATING INCOME: GENERAL AND ! Increase in sales of €505k, +25% YoY ADMINISTRATIVE COSTS: GROSS OPERATING INCOME (GOI) 2,534,745 2,029,627 25% ! 7 un
Slide 10: FY 2023 KPIs
9 - BARCINO PROPERTY SOCIMI, S.A. 06/ FY 2023 KPIs LFL MID TERM-REVENUES OCCUPANCY MID-TERM 1.200.000 100% 1.100.000 96% 1.000.000 -6% +15% 92% 900.000 800.000 88% 700.000 84% 600.000 500.000 80% 2022 2023 (*) 2022 2023 (*) LFL mid term 2023 revenue growth Occupancy down from 97% to 91% based on 45
Slide 11: 2023 Forecast Compliance
10 - BARCINO PROPERTY SOCIMI, S.A. 07/ 2023 FORECAST COMPLIANCE 2023 operating results broadly in line with guidance. Gains from disposals have contributed €1.4m to EBITDA during 2023 2023 (*) 2023 E % compliance GOI 2.5m 2.4-2.6m 105% - 97% EBITDA 2.5m 1.3-1.4m 196% - 171% (*) 2023 Unaudited figure
Slide 12: RICS Valuation and NAV per Share
11 - BARCINO PROPERTY SOCIMI, S.A. 08/ RICS VALUATION AND NAV PER SHARE CONCEPT AMOUNT (€) RICS valuationof underlying assets has been fairly stable despite challenging market conditions 31/12/23 31/12/22 NAV per share of €1.81 at year end based on RICS valuation Cash and other short-term deposits (
Slide 13: Appendix
BARCINO PROPERTY SOCIMI, S.A. 09/ APPENDIX
Slide 14: Geographical Footprint (1/2)
13 - BARCINO PROPERTY SOCIMI, S.A. GEOGRAPHICAL 4 BERGA FOOTPRINT (1/2) The Barcino porfolio is mostly located in central Barcelona 8 GIRONA 2 13 assets 1 asset BUENOS AIRES 5 JOAQUÍN COSTA are located in central is located next to SEPÚLVEDA 12 Barcelona Barcelona in L’Hospitalet LLUNA de Llobregat
Slide 15: Geographical Footprint (2/2)
14 - BARCINO PROPERTY SOCIMI, S.A. GEOGRAPHICAL FOOTPRINT (2/2) 1 2 3 4 5 6 7 C. Vistalegre C. Buenos Aires P. Montjuïc C. Berga C. Sepúlveda C. P. Cabanyes C. Sant Bertran Barcelona L’Hospitalet de Barcelona Barcelona Barcelona Barcelona Barcelona Ciutat Vella district Llobregat Sants-Montjuïc dist
Slide 16: Contacts
15 - BARCINO PROPERTY SOCIMI, S.A. CONTACTS Josep Turró President of the Advisory Committee | Barcelona jturro@vistalegrepm.com Laura Turró COO | Barcelona lturro@vistalegrepm.com Olga Sevillano CFO | Barcelona osevillano@vistalegrepm.com
Slide 17: Q4 2023 and FY 2023 Results Presentation
BARCINO PROPERTY SOCIMI, S.A. Q4 2023 and FY 2023 Results Presentation FEBRUARY 2024
Barcino Property SOCIMI — Q4 2023 Earnings Presentation on 6ix