Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España Real Estate SOCIMI — Investor Presentation (April 2020)
37 slides from Helios Re Socimi's investor presentation, April 2020
Slide 1: Corporate Presentation April 2020
Corporate Presentation _ April 2020 www.larespana.com
Slide 2: Index
April 2020 Corporate Presentation | The Spanish Retail Specialist Index 1. 2. 3. 4. Company Investment Financial ESG Overview Highlights Results Summary
Slide 3: Company Overview
—_— f..||5.. Real Estate 2014 »> 2019 01 COMPANY OVERVIEW RETAIL ,, /
Slide 4: Real retail value
April 2020 Lar España Real retail value . . First Spanish REIT to IPO on the Spanish Stock Exchange with an 15 €1,552 Mn 579,286 outstanding quality, dominant and 100% owned portfolio. Assets Gross Asset Value sqm GLA Focused on creating both sustainable income and strong capital growth for sharehol
Slide 5: Company structure & shareholder overview
April 2020 Company structure & shareholder overview Independent and experienced Board: Shareholder Overview 5 independent directors (out of 7) José Luis del Valle Roger Cooke Leticia Iglesias PIMCO Other investors Chairman and Independent Independent Independent 46.0% 20.7% Director Director Directo
Slide 6: Constantly seeking and executing value creating opportunities
April 2020 Major corporate milestones in 2018 & 2019 Constantly seeking and executing value creating opportunities FEB APR JUN AUG OCT DEC APR JUN NOV Rivas Futura AGM +34% Galaria Investor Day +40% AGM +45% Lagasca99 Acquisition Asset Retail Park Asset Revaluation since Acq. Asset Fully Sold €0.49
Slide 7: The results of our strategy: A different company for a changing market
April 2020 2019 The results of our strategy: A different company for a changing market STRONG BALANCE SHEET VALUE TECHNOLOGICAL FOCUS ON FINAL ESG AS ANOTHER ESSENTIAL & OPERATING RESULTS CREATION DEVELOPMENT CUSTOMER & RETAILERS BUSINESS METRIC Leaders in Spain with Divestment plan TES Project “Cus
Slide 8: The value of a retail platform
April 2020 The value of a retail platform Main SSCC market players by owned GLA Lar España has consolidated its position among the top retail operators in Spain. Now, the target is to selectively increase GLA to generate revenue synergies Owned GLA (est.) # Shopping Nbr. Assets Centres Avg. GLA owne
Slide 9: Strong Transformation + Innovation
April 2020 Strong Transformation + Innovation TRANSFORMATION STRATEGY DIGITAL INNOVATION Customer Tenant Big Data Full Connectivity journey mix Customer Webs analysis enhancing Intelligence APPS WIFI Social Media Capex and On-site shopping Market Place Seeketing improvement centre intensive Click &
Slide 10: Active management is key to be the reference in each market
April 2020 Not all retail is equal Active management is key to be the reference in each market Rental uplift from reletting activity Footfall 2019 Sales 20191 Recurrent growth rates in new rents from re-tenanting 64.5 Mn visits €815.2 Mn Vs 2018 +4.4%4 +1.9%2 €9.5 Mn 52,961 sqm Negotiated rent Rotat
Slide 11: Through our developments and refurbishments
April 2020 Adding value to our portfolio with the latest retail trends Through our developments and refurbishments LAGOH PORTAL DE LA MARINA BEST EXAMPLE OF NEW GENERATION EXPERIENTIAL RETAIL PORTAL DE LA MARINA REFURBISHMENT ENHANCE CUSTOMERS EXPERIENCE ✓ New generation experience and F&B offering
Slide 12: A real estate reference
April 2020 External manager: A real estate reference Grupo Lar now owns Investment Management a 11.5% stake Agreement in Lar España, subject to a lock-up period Manager New IMA signed in 2018 Asset breakdown by GAV (%) 1 Family-owned Company +50Y of experience RESIDENTIAL 62% 2 Strong Management Tea
Slide 13: Investment Highlights
2014 »> 2019 02 INVESTMENT HIGHLIGHTS RETAIL ,. /
Slide 14: Investment highlights: Income generation as the main driver
April 2020 Investment highlights Income generation as the main driver 1 3 5 7 Positive Attractive Highly attractive operational Best-in class dividend policy income profile trends driving manager + SBB growth programmes 2 4 6 8 Selective capex Leading the ESG through a Focused and & development digi
Slide 15: Highly attractive income profile; Focused and unique offering
April 2020 Lar España Investment highlights 1 Highly attractive income profile 2 Focused and unique offering The only listed Spanish REIT in the continuous market A resilient portfolio of dominant shopping centres in First IPO of a €115 Mn rent offering pure-play exposure to an attractive portfolio
Slide 16: Positive operational trends; Selective capex & development
April 2020 Lar España Investment highlights 3 Positive operational trends driving growth 4 Selective capex & development deliver enhanced income growth Strong results Strong rental growth with a +1.2% increase in LfL GRI Smart mix of from active Solvent and diversified tenant base with a wault of 3.
Slide 17: Best-in class manager; Leading the digital transformation
April 2020 Lar España Investment highlights 5 Best-in class manager 6 Leading the digital transformation: TES Project (technology, engagement and sustainability) Technology improves customer experience, by Omnichannel combining physical and digital strategies. It also helps European JVs strategy Man
Slide 18: Attractive dividend policy + SBB programmes; ESG
April 2020 Lar España Investment highlights 7 Attractive dividend policy + SBB programmes 8 ESG through a responsible management of our assets Dividend policy: 100% Ordinary dividend: >5% overNAV 8.9% Environmental: Responsible management, shopping Maximise distributions with special dividends: divi
Slide 19: Financial Results FY 2019
03 FINANCIAL RESULTS FY 2019 _
Slide 20: Strong operational results in 2019
April 2020 Strong operational results in 2019 €11.47 +9% +45% +13% +55% EPRA NAV p.s.1 EBITDA Adj. EPRA Earnings p.s. Portfolio revaluation LfL Portfolio revaluation LfL RESULTS vs 2018 vs 2018 since Dec 2018 since acquisition +10.1%2 vs 31 Dec 2018 16 +25% 96.5% 64.5 Mn quarters outperforming +9% A
Slide 21: Strong corporate results in 2019
April 2020 Strong corporate results in 2019 €55 Mn dividend 1st & 2nd SBB 3rd SBB Net LTV €0.63 p.s. completed programme 34% CORPORATE Dividend yield launched Avg. cost of debt 9% over market cap1 7.8 Mn shares amortized 5% share capital 2.1% 100% AENOR Univesal 100% +20% recommendations of the Acce
Slide 22: Lar España performance
April 2020 Lar España performance A story of growth Retail Occupancy Rate1 Retail GAV (€ Mn) Retail GAV 98.0% Total GAV Revaluation since acquisition 96.5% 1,199 1,376 1,552 96.0% 95.0% 94.8% 93.7% 962 55% 94.0% 92.1% 614 40% 92.0% 24% 90.0% 4% 14% Q4 2015 Q4 2016 Q4 2017 Q4 2018 Q4 2019 2015 2016 2
Slide 23: Successful & strong financial key figures
April 2020 01 Company Description Successful & strong financial key figures delivered in 2019 15 €81.1 Mn +4.2% Assets GRI vs 2018 €1,552 Mn €59.3 Mn +8.8% €1,003.8 Mn 8.21% GAV EBITDA vs 2018 EPRA NAV ROE 579,286 €697.9 Mn 2.1% €11.471 0.63 GLA sqm Financial debt Cost of Debt EPRA NAV per share Div
Slide 24: Solid retail performance
April 2020 Solid retail performance driven by robust operating results in 2019 Retail yields Operating results Commercial activity Potential growth 6.2% +1.2% +1.6% LfL GRI1 LfL NOI1 €9.5 Mn 52,961 sqm Negotiated rent Rotated area 5.9% +18.6% (8.7)% Turnover rent1 Operating costs1 5.6% 135 +9% 96.5%
Slide 25: Strong valuation performance
April 2020 Strong valuation performance Increasing portfolio’s value despite the execution of the divestment plan in 2018 and 2019 € Mn Portfolio Value 1,538 1,536 161 177 1,552 1,… 54.5% 899 406 12.7% 6.9% 2014 2015 2016 2017 2018 Divestments Revaluation 2019 Since June 2019 Since December Since Ac
Slide 26: Consolidated Income Statement
April 2020 Consolidated Income Statement (€ Millions) Perimeter’s change P&L Affecting: FY 2019 FY 2018 14 26% 16% Revenues 81.1 77.8 assets GLA rents Other income 3.3 3.7 Asset Typology GLA Rental income Personnel expenses (0.4) (0.5) Divested in 2019 Amortization expenses - (0.3) Lagasca99 Residen
Slide 27: Consolidated Income Statement: Pro-forma Retail Portfolio
April 2020 Consolidated Income Statement Pro-forma Retail Portfolio Consolidated Income Statement (€ Millions) (€ Millions) Chg% P&L Retail portfolio P&L FY 2019/18 FY 2019 FY 2018 FY 2019 FY 2018 Revenues 81.1 77.8 Revenues 80.9 73.2 +10.5% Other income 3.3 3.7 Other income 2.5 3.7 Personnel expens
Slide 28: Dividend
April 2020 Dividend At the top of the Spanish Stock Market Exchange +€5 Mn vs 2018 +111% CAGR1 €0.63 ps Cash dividend €0.54 ps €0.49 ps €55.0 Mn €50.0 Mn 5.5% 8.9% €0.33 ps €45.0 Mn Dividend Yield Dividend Yield +€25 Mn special on NAV2 on Market Cap2 €0.20 ps €30.0 Mn dividend LG99 €0.033 ps 10.14%
Slide 29: New share buy-back programme of up to 5%
April 2020 New share buy-back programme of up to 5% Maximizing additional value for our shareholders The purpose of the Buy-Back Programme is the further reduction of Lar España’s share capital through the amortization of shares 1st 2nd 3rd Share Buy-Back Programme Share Buy-Back Programme Share Buy
Slide 30: Next steps
April 2020 Next steps More different, more innovative, more experiential & more profitable 1 Constant focus on income generation 2 Recurrent and solid rental growth 3 Top level, high and sustained dividend for our shareholders Maximize value for our shareholders through SBB programmes 4 with full am
Slide 31: ESG Summary
04 ESG SUMMARY RETAIL . in action /
Slide 32: Lar España's approach to ESG
April 2020 Lar España´s approach to ESG E S G Environment Corporate Governance Lar España promotes Lar España’s portfolio Lar España continues Sustainability assets generate social to make great strides Creating shared certification measures. In impacts that transform forward in terms of value for o
Slide 33: Environmental: Responsible management
April 2020 Environmental Responsible management Sustainable Management Energy 100% of shopping centres are BREEAM® certified, rated “good” or PV solar panels in retail assets “very good” Home automation systems to maximise energy efficiency in residential properties New developments are designed and
Slide 34: Social: Society-based initiatives in our communities
April 2020 Social Society-based initiatives in our communities AACESIBILITY 100% AENOR 67% €834,000 Accessibility of SCs & RPs have Universal Accessibility of assets are in the undergone process of obtaining invested diagnosis certification in 13% of in improving In collaboration with accessibility
Slide 35: Governance Structure
April 2020 Governance Structure BoD Composition (7 members, 5 independent) Board & Committees General Shareholders Meeting Jose Luis del Valle Chairman Board of Directors Alec Emmott Leticia Iglesias 17 Meetings in 2019 Audit & Control Appointments & Remuneration Miguel Pereda Roger Maxwell Cooke Co
Slide 36: Disclaimer
April 2020 DISCLAIMER 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 Spanish Securities Market Commission. This do
Slide 37: Follow us
Follow us www.larespana.com info@laespana.com Lar España Real Estate SOCIMI Lar España App
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