Ireit Global · SGX:8U7U
Ireit Global — Shareholder Meeting (April 2024)
20 slides from Ireit Global's shareholder meeting presentation, Apr 25, 2024
Slide 1: 2024 Annual General Meeting
2024 Annual General Meeting 25 April 2024 Joint Sponsors of IREIT Global:
Slide 2: Important Notice
Important Notice This presentation may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and as
Slide 3: Agenda
Agenda Executing IREIT Strategy 4 Portfolio and Asset Management 10 FY2024 Financial Highlights 14 Looking Ahead 18 3
Slide 4: Executing IREIT Strategy
Executing IREIT Strategy Berlin Campus 4
Slide 5: Pure Play Western Europe-Focused REIT
Pure Play Western Europe-Focused REIT Investing in real estate used primarily for office, retail, industrial (including logistics) and hospitality purposes Joint Sponsors: Tikehau Capital, City Developments Limited France 24% Portfolio: Germany: 5 office properties France: 44 retail properties Retai
Slide 6: Key Operating Milestones
Key Operating Milestones Jan 2024 2 Aug 2024 Dec 2024 Apr 2025 Completed sale of Won Silver award Signed two 20-year Received building Spanish office for ‘Best Investor leases with no break permit from local property, Illumina, Relations (REITs and options for c.24% of government body for for €24.5m
Slide 7: Repositioning of Berlin Campus
Repositioning of Berlin Campus (1) ▪ Proposed repositioning of Berlin Campus into a multi-let, mixed-use asset. Overview ✓ Main tenant vacated premises upon lease expiry on 31 Dec 2024. ✓ Manager secured long-term leases with 2 hospitality operators taking up c.24% of lettable area. ✓ Construction w
Slide 8: Repositioning Concept of Berlin Campus
Repositioning Concept of Berlin Campus (1) BEFORE AFTER (1) Subject to changes and relevant regulatory and internal approvals and the final plan may be different from that as set out above. 8
Slide 9: Stable FY2024 Performance
Stable FY2024 Performance Continued focus on maintaining portfolio resilience and healthy balance sheet €1.90 cents 5.9 years (1) 37.6% 1.9% Distribution per Unit Weighted Average Lease Aggregate Leverage Weighted Average Interest +1.6% YoY Expiry 37.7% as at 30 Sep 2024 Rate 5.8 years as at 30 Sep
Slide 10: Portfolio and Asset Management
Portfolio and Asset Management B&M Tours (Saint-Cyr-sur-Loire) 10
Slide 11: Diversified Portfolio in Key European Markets
Diversified Portfolio in Key European Markets 5 German Properties 53 Lettable Area (sqm) 201,103 Properties Valuation (€ m) (1) 528.2 % of Portfolio 61.6% 425,116 sqm Occupancy (%) (2) 80.9% Lettable Area WALE (years) (2) 5.0 44 French Properties €857.3m Lettable Area (sqm) 157,256 € Valuation (1) €
Slide 12: Well-Staggered Leases with Blue-Chip Tenants
Well-Staggered Leases with Blue-Chip Tenants Key Tenants (1) Lease Break and Expiry Profile (1) Weighted Average Lease Expiry: 5.9 years 20.3% 57.8% Almost 60% of the 37.1% leases will expire in 2030 and beyond 31.7% 17.8% 30.0% 22.2% 22.9% 5.3% 7.2% 8.6% 3.8% 4.6% 3.6% 3.8% 3.9% 17.1% 2.3% Decathlo
Slide 13: Active Asset Management to Optimise Portfolio
Active Asset Management to Optimise Portfolio German Portfolio: 2024 Performance ▪ Darmstadt Campus: 12-year lease for c.2,230 sqm secured in 4Q 2024 to commence in May 2025. Committed occupancy at almost 45%. c.49,450 sqm ▪ Berlin Campus: 2 long-term hospitality leases totalling c.18,980 sqm New Le
Slide 14: FY2024 Financial Highlights
FY2024 Financial Highlights Bonn Campus 14
Slide 15: Operating & Financial Performance
Operating & Financial Performance (€ ‘000) FY2024 FY2023 Increase / (Decrease) (%) Gross Revenue 75,573 64,977 16.3 Property Operating Expenses (22,068) (15,081) 46.3 (1) Net Property Income 53,505 49,896 7.2 Income to be Distributed to Unitholders (2) 25,568 25,190 1.5 Distribution Per Unit (€ cent
Slide 16: Financial Position
Financial Position (€ ‘000) As at 31 Dec 2024 As at 31 Dec 2023 Increase / (Decrease) (%) Investment Properties (1) 863,708 880,843 (1.9) Assets Held for Sale - 24,698 (2) N.M. Total Assets 961,389 992,076 (3.1) Total Borrowings (Less Upfront Transaction Costs) (3) 357,422 371,411 (3.8) Total Liabil
Slide 17: Healthy Gearing with Limited Impact from Rate Hikes
Healthy Gearing with Limited Impact from Rate Hikes As at 31 Dec 2024 As at 31 Dec 2023 Debt Maturity Profile Aggregate Leverage (3) German Portfolio 44.4% Gross Borrowings €200.8m 359.1 374.0 Outstanding (€’m) 39.6% Aggregate Leverage (1) 37.6% 37.9% Spanish 37.6% Weighted Average Portfolio Decathl
Slide 18: Looking Ahead
Looking Ahead Concor Park 18
Slide 19: Looking Ahead
Looking Ahead ▪ European real estate investment and leasing volumes have improved in 2024, but remained lower than the 10-year average due to: ✓ Ongoing geopolitical uncertainty, persistent inflationary pressures and more expensive debt and capital. Macro ▪ On the back of its key focus to increase I
Slide 20: Thank You
Thank You For enquiries, please contact: Mr Kevin Tan Chief Financial Officer and Head of Investor Relations Tel: (65) 6718 0593 Email: kevin.tan@ireitglobal.com Follow our LinkedIn: https://www.linkedin.com/company/ireitglobal Sables d'Olonne 20