Hamborner Reit Ag · XETR:HABA
Hamborner Reit — Investor Presentation (November 2021)
34 slides from Hamborner Reit's investor presentation, November 2021
Slide 1: Company presentation November 2021
Company presentation November 2021 Office property Ingolstadt
Slide 2: Agenda
Agenda 1. HAMBORNER at a glance 2. Portfolio Overview 3. Asset Management 4. Financials 5. Sustainability /ESG 6. Appendix 2
Slide 3: 1. HAMBORNER at a glance
1. HAMBORNER at a glance Office property ‚Nu-Office‘ Munich
Slide 4: Company profile
Company profile History Company profile ▪ Public commercial property company 1953 Foundation of HAMBORNER ▪ Profitable and diversified German-wide property portfolio Listing on stock exchange ▪ Two-pillar portfolio structure with focus on food-anchored retail and 1954 office properties Clear focus o
Slide 5: The HAMBORNER Share
The HAMBORNER Share The HAMBORNER Share Shareholder structure Current share price €9.70 (as of 31 October 2021) Market capitalisation €790m (as of 31 October 2021) 12.82% RAG Foundation WKN/ISIN A3H2333 / DE000A3H2333 5.31% BlackRock Ticker symbol HABA 81,343,348 shares Class of shares Registered Sh
Slide 6: 2. Portfolio Overview
2. Portfolio Overview Office property Münster
Slide 7: Portfolio Strategy – Target Structure
Portfolio Strategy – Target Structure Retail Portfolio Office Portfolio ‚Manage-to-Core‘ properties ‚Manage-to-Core‘ properties 10-20% 10-20% with value-add potential with value-add potential Maintaining/extension of 80-90 % Maintaining/extension of 80-90% solid retail portfolio with 80-90% solid of
Slide 8: Portfolio Management Approach
Portfolio Management Approach ▪ Retail Asset classes ▪ Office ▪ Core Risk profile ▪ Manage-to-Core ▪ > €10m (retail) Lot size ▪ > €20m (office) ▪ Focus on core investments ▪ Addition of selected Manage-to-Core properties with larger asset management need (refurbishment, reletting, repositioning etc.
Slide 9: Portfolio Metrics
Portfolio Metrics Portfolio share Retail Office Total Portfolio(1) high-street(1) Number of properties 41 26 67 6 Fair value €862.9m €681.2m €1,544.1m €82.2m Leased area 385,328 m² 215,689 m² 601,016 m² 38,520 m² Annualized rent €50.0m €33.6m €83.6m €5.7m Annualized rental yield 5.8% 4.9% 5.4 % 10.9
Slide 10: Geographical Portfolio Structure
Geographical Portfolio Structure Geographical Focus (Metropolitan Regions in Germany) Portfolio by Metropolitan Regions Metropolitan Region Share of portfolio volume 8 1 Rhine-Ruhr 23.7 % 10 2 Frankfurt Rhine-Main 11.8 % 9 3 Berlin-Brandenburg 9.8 % 3 4 Nuremberg 8.9 % 5 Munich 6.1 % 1 11 6 Stuttgar
Slide 11: Portfolio development
Portfolio development 2.000 50 Portfolio value and average property value Comments 1,625 ▪ Continuous value-adding portfolio growth since 1,598 1,544 40 conversion into a G-REIT in 2010 1,517 1.500 ▪ Average annual growth rate of 12.4% 1,363 over the last ten years ▪ Average property value of €23.0m
Slide 12: Investments 2021
Investments 2021 Mainz Stuttgart Münster Freiburg Asset type Office (Single-tenant) Office (Multi-tenant) Office (Multi-tenant) Retail (Single-tenant) Investment approach ‘Manage-to-core‘ ‘Manage-to-core‘ ‘Core‘ ‘Core‘ Year of construction 1994 1991 2021 2018 Leased area 7,700 m2 5,930 m2 6,300 m2 1
Slide 13: Strategic disposal programme | Active portfolio management
Strategic disposal programme | Active portfolio management Recent Disposal Residual High-Street portfolio Property Dortmund Sales price €29.5m Annual rents €1.7m Latest fair value €29.5m Total portfolio €1,544.1m Divestments since strategy update H1 2020 Total Thereof High-Street No. of assets 19 16
Slide 14: 3. Asset Management
3. Asset Management Retail property ‚Rondo Steinheim‘ Hanau
Slide 15: Tenant base
Tenant base Top-10 tenants (as of 30 September 2021) Sector distribution (as of 30 September 2021) Sector Rent(1) Tenant Sector Rent(1) EDEKA Food retail 11,5% Food 33.0% Kaufland Food retail 6,9% IT/Communikation 10.1% REWE Food retail 5,7% DIY 8.7% OBI DIY 5,3% Finance/Insurance 8.2% Real Food ret
Slide 16: Lease contracts
Lease contracts Weighted average lease expiry (as of 30 September 2021) Letting result (9M 2021) 121,511 m² 6.9 years 77,153 m² 6.1 years 4.9 years 44,358 m² Retail Office Total New lettings Contract extensions Total Lease expiry schedule (as of 30 September 2021; % of annual rents) 8.1% 6.4% 2.3% 7
Slide 17: Corona update
Corona update Rent collection rates(1) (as of 5 November 2021) Lockdown 96.4% 97.0% 97.4% 98.0% 98.1% 98.9% 99.4% 99.3% 99.3% 99.2% 98.3% January February March April May June July August September October Total 2021 2021 2021 2021 2021 2021 2021 2021 2021 2021 2021 (1) Including ancillary costs and
Slide 18: 4. Financials
4. Financials Office property/Medical center Regensburg
Slide 19: Key figures 9M 2021
Key figures 9M 2021 Key figures 9M 2021 9M 2020 Change Profit and loss statement Income from rents and leases €63.9m €66.2m -3.5% Operating result €27.9m €9.0m n/a Profit for the period €53.8m €0.1m n/a Key KPIs Funds from Operations (FFO) €42.3m €42.3m -0.1% Funds from Operations (FFO) per share €0
Slide 20: Funds from operations (FFO)
Funds from operations (FFO) in k€ 9M 2021 9M 2020 Change Comments 1 Income from rents and leases 63,912 66,207 -3.5% ▪1 Decline in rental income mainly due to Income from passed on costs 10,732 10,654 +0.7% property disposals (€-4.3m) and pandemic- related risk provisioning (€-0.5m); Operating expen
Slide 21: EPRA Net Asset Value (NAV) & Net Tangible Assets (NTA)
EPRA Net Asset Value (NAV) & Net Tangible Assets (NTA) in k€ 30 September 2021 31 December 2020 Comments 1 Long-term assets 1,124,121 1,200,826 ▪1 Decrease in long-term assets mainly related 2 Short-term assets 201,451 64,958 to property disposals 3 Non-current liabilities and provisions -724,205 -6
Slide 22: Financial situation
Financial situation Expiration of financial liabilities (as of 30 September 2021) 58.6% REIT Equity ratio Ø Refinancing interest rate 2021: 1.0% 43.5% LTV 1.6% €760.3m Financial liabilities(1) 20.3% 8.2% 12.1% 12.9% 1.68% 10.7% Ø cost of debt(1) 7.8% 8.1% 7.1% 2.9% 2.5% 2.8% 3.0% 5.0 years Ø maturit
Slide 23: Outlook
Outlook Guidance Update 2021 ▪ Rental income: Confirmation of guidance range of €83 - 85m ▪ FFO: €48 - 50m €52 - 53m ▪ NAV per share expected to reach slightly higher level compared to year-end 2020 (€11.05) Financials | 23
Slide 24: 5. ESG Strategy
5. ESG Strategy Office property Neu-Isenburg
Slide 25: Sustainability / ESG strategy
Sustainability / ESG strategy Strategic development and guidelines Key Action Areas ▪ Integration of sustainability/ESG criteria into overall strategy ▪ Implementation of strategic sustainability programme ▪ Planning and controlling of sustainability activities by internal sustainability committee ▪
Slide 26: ESG organization
ESG organization Sustainability Management System Management Board CEO COO/CFO ▪ Ongoing reporting of all relevant ESG ▪ Company-wide implementation of issues to management board decisions ▪ Decision-making and activity planning ▪ Continuous monitoring of all in the scope of regular Sustainability s
Slide 27: Environmental Sustainability
Environmental Sustainability Key Action Area Progress 2020/2021 Status(1) Next steps / short- to medium-term targets ▪ Data management optimisation and database expansion Target Ongoing ▪ Ongoing systematization of recording and analysis of ESG data ▪ Creation of detailed report on carbon footprint
Slide 28: Employee development & Governance
Employee development & Governance Key action area Progress 2020/2021 Status(1) Next steps / short- to medium-term targets ▪ Review and implementation of further measures to enhance ▪ Enhanced flexibitly of working model Target 100% 0% 20% 40% 60% 80% 100 % employer attractiveness ▪ Implementation of
Slide 29: 6. Appendix
6. Appendix Retail Lengerich
Slide 30: Top-10 properties (1/2)
Top-10 properties (1/2) Munich Cologne Mannheim Berlin Karlsruhe Asset type Office Office Retail Office Retail Year of acquisition 2013 2017 2016 2013 2012 Purchase price €40.2m €48.9m €80.0m €33.0m €37.0m Fair value(1) €79.0m €76.5m €76.4m €70.8m €52.8m Annual rents €2.6m €2.9m €4.2m €2.5m €2.7m WA
Slide 31: Top-10 properties (2/2)
Top-10 properties (2/2) Darmstadt Hallstadt Hanau Aachen Celle Asset type Retail Retail Retail Office Retail Year of acquisition 2018 2017 2017 2020 2015 Purchase price €42.8m €40.4m €37.5m €37.4m €35.2m Fair value(1) €45.9m €44.5m €42.4m €40.9m €39.6m Annual rents 2.5m 2.4m €2.0m €2.0m €1.9m WALT(1
Slide 32: Financial Calendar 2022
Financial Calendar 2022 Preliminary figures 2021 8 February 2022 Annual report 2021 17 March 2022 Quarterly financial statement Q1 2022 26 April 2022 Annual General Meeting 2022 28 April 2022 Half-year financial report 2022 9 August 2022 Quarterly financial statement Q3 2022 10 November 2022 Appendi
Slide 33: Contact
Contact Niclas Karoff Hans Richard Schmitz CEO COO/CFO Mail: n.karoff@hamborner.de Mail: h.schmitz@hamborner.de Christoph Heitmann HAMBORNER REIT AG Head of Investor Relations & Web: www.hamborner.de/en Public Relations Mail: c.heitmann@hamborner.de Mail: info@ir.hamborner.de Phone: +49 (0)203/54405
Slide 34: Disclaimer
This presentation was exclusively prepared for the addresses specified on the title page and/or the participants at the mentioned event. The information in this presentation is based on both public information and documents as well as information which was made available to HAMBORNER REIT AG by the
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