Barcino Property Socimi Sa · BME:YBAR
Barcino Property Socimi Sa — Q1 2023 Earnings Presentation
20 slides from Barcino Property Socimi Sa's earnings presentation, May 5, 2023
Slide 1: Otra información relevante – regulatory filing notice
Barcelona, 5 de mayo de 2023 Barcino Property SOCIMI, S.A. (en adelante “Barcino”, la “Sociedad” o la “Compañía”), en virtud de lo previsto en el artículo 17 del Reglamento (UE) nº 596/2014 sobre abuso de mercado y en el artículo 227 de la Ley 6/2023, de 17 de marzo, de los Mercados de Valores y de
Slide 2: Q1 2023 and FY 2022 Results Presentation
BARCINO PROPERTY SOCIMI, S.A. Q1 2023 and FY 2022 Results Presentation MAY 2023
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/ Business Review 06/ FY 2022 results 02/ Q1 2023 results 07/ FY 2022 KPIs 03/ Q1 2023 KPIs 08/ 2022 balance sheet 04/ Remaining capex 09/ RICS valuation and NAV per share 05/ Outlook 10/ Appendix
Slide 5: 01/ Business Review
4 - BARCINO PROPERTY SOCIMI, S.A. 01/ BUSINESS REVIEW Operating results broadly in line with expectations ! Q1 2023 Gross Operating Income €544k, up +31% YoY ! Q1 2023 Adjusted Net Operating Income* €302k, up +46% YoY ! Q1 2023 EBITDA* €265k ! Prices increasing, with a trend towards shorter stays an
Slide 6: 02/ Q1 2023 Results
5 - BARCINO PROPERTY SOCIMI, S.A. 02/ Q1 2023 BARCINO PROPERTY In EUROS Q1 2023* Q1 2022* Var 22/21 % RESULTS P&L Rental Income 544,002 414,872 GROSS OPERATING INCOME (GOI) 544,002 414,872 31% Gross operating income: General and administrative costs OPERATING EXPENSES (151,134) (111,530) 36% " Incre
Slide 7: 03/ Q1 2023 KPIs
6 - BARCINO PROPERTY SOCIMI, S.A. 03/ Q1 2023 KPIs LFL MID-TERM REVENUES OCCUPANCY MID-TERM 99% 350.000 98% 300.000 97% +32% 250.000 96% 95% 200.000 94% 150.000 93% 100.000 92% 91% 50.000 90% 0 89% Q1 2022 * Q1 2023 * Q1 2022 * Q1 2023 * LFL mid term YTD revenue growth Occupancy down from 98% to 92%
Slide 8: 04/ Remaining Capex
7 - BARCINO PROPERTY SOCIMI, S.A. 04/ REMAINING CAPEX Currently remaining expected capex for 3 last buildings requiring full refurbishement is of c.€2.3m. Capex costs have increased substantially post-covid driven by inflation There are still life leases and long-term lease units that may benefit fr
Slide 9: 05/ Outlook
8 - BARCINO PROPERTY SOCIMI, S.A. 05/ OUTLOOK Rental market showing resilience as we approach the summer months. 2023 Guidance maintained: ! 2023 Gross Operating Income expected to be between €2.4-2.6m ! 2023 EBITDA expected to be between €1.3-1.4m Q1 2023* 2023 E % compliance GOI 0.5m 2.4-2.6m 23%
Slide 10: 06/ FY 2022 Results
9 - BARCINO PROPERTY SOCIMI, S.A. 06/ FY 2022 RESULTS BARCINO PROPERTY In EUROS 2022 2021 Var 22/21 % P&L Rental Income 2,015,994 1,694,198 Other operating income 13,633 17,793 Gross operating income: General and administrative costs GROSS OPERATING INCOME (GOI) 2,029,627 1,711,991 19% " Increase in
Slide 11: 07/ FY 2022 KPIs
10 - BARCINO PROPERTY SOCIMI, S.A. 07/ FY 2022 KPIs LFL MID-TERM REVENUES OCCUPANCY MID-TERM 98% 1.000.000 900.000 97% +32% 800.000 97% 700.000 600.000 96% 500.000 96% 400.000 300.000 95% 200.000 95% 100.000 0 94% 2021 2022 2021 2022 LFL mid term 2022-2021 revenue growth Occupancy up from 95% to 97%
Slide 12: 08/ 2022 Balance Sheet
11 - BARCINO PROPERTY SOCIMI, S.A. 08/ 2022 Balance sheet as of 31 december 2022 (in Euros) BALANCE SHEET ASSETS 31/12/2022 31/12/2021 1 A) NON-CURRENT ASSETS 37,308,222 35,380,500 1.1 I. Intangible fixed assets 2,182 630 1.2 II. Property, plant and equipment 885 387 1.3 III. Investment property 37,
Slide 13: 09/ RICS Valuation and NAV per Share
12 - BARCINO PROPERTY SOCIMI, S.A. 09/ RICS VALUATION AND NAV PER SHARE RICS valuation of underlying assets has been fairly stable despite challenging market conditions NAV per share of €1.68 at year end based on RICS valuation RICS VALUATIONS (in million Euros) € 56 € 55.1 CONCEPT AMOUNT (€) € 55 3
Slide 14: 10/ Appendix
BARCINO PROPERTY SOCIMI, S.A. 10/ APPENDIX
Slide 15: Barcino at a Glance
14 - BARCINO PROPERTY SOCIMI, S.A. BARCINO AT A GLANCE 1 14 Barcino is unique investment vehicle offering strong exposure to City / Geographical Assets Core Spanish residential assets area Barcino Property’s overview 14,400 174 Gross square meters Units 1 " Barcino is a publicly traded Spanish REIT
Slide 16: Geographical Footprint (1/2)
15 - 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 JOAQUÍN COSTA 5 are located in is located next to 12 SEPÚLVEDA central Barcelona Barcelona in L’Hospitalet LLUNA de Llobregat
Slide 17: Geographical Footprint (2/2)
16 - 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 18: Statement of Profit or Loss for the Year 2022-2021
17 - BARCINO PROPERTY SOCIMI, S.A. STATEMENT OF STATEMENT OF PROFIT OR LOSS 1. Revenue 31/12/2022 2,015,994 31/12/2021 1,694,198 PROFIT OR LOSS Real estate leases 5. Other operating income 2,015,994 13,633 1,694,198 17,793 FOR THE YEAR Other operating income 6. Staff costs 13,633 (151,584) 17,793 (1
Slide 19: Contacts
18 - 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 20: Barcino Property SOCIMI, S.A. Q1 2023 and FY 2022 Results Presentation
BARCINO PROPERTY SOCIMI, S.A. Q1 2023 and FY 2022 Results Presentation MAY 2023
Barcino Property SOCIMI — Q1 2023 Earnings Presentation on 6ix