Hamborner Reit Ag · XETR:HABA
Hamborner Reit — Investor Presentation (March 2022)
35 slides from Hamborner Reit's investor presentation, March 2022
Slide 1: Company presentation March 2022
Company presentation March 2022 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 15 March 2022) Market capitalisation €789m (as of 15 March 2022) 12.20% RAG Foundation WKN/ISIN A3H2333 / DE000A3H2333 5.83% BlackRock Ticker symbol HABA 81,343,348 shares Class of shares Registered Share
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% core retail portfolio with 80-90% core office p
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) Manage-to-core(2) Number of properties 40 28 68 3 Fair value €874.2m €729.8m €1,604.0m €72.9m Leased area 368,039 m² 230,177 m² 598,215 m² 27,198 m² Annualized rent €46.6m €35.4m €82.0m €4.5m Annualized rental yield 5.3% 4.9% 5.1% 6.
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 22.0 % 10 2 Frankfurt Rhine-Main 12.2 % 9 3 Berlin-Brandenburg 8.5 % 3 4 Nuremberg 10.4 % 5 Munich 5.9 % 1 11 6 Stuttga
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 1,604 40 conversion into a G-REIT in 2010 1,517 1.500 ▪ Average annual growth rate of 12.3% 1,363 over the last ten years ▪ Average property value of €23.6m
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 7,748 m2 5,929 m2 6,328 m2 10,660 m2
Slide 13: Recent acquisition
Recent acquisition Kempten Key Data Asset type Retail (DIY) Investment approach Core Year of construction 2011 Leased area 17,400 m2 Remaining lease term 10.0 years(1) Occupancy rate 100% Annual rental income €1.5m Purchase price €29.8m Gross initial yield approx. 5.2% Transfer of possession Q2 2022
Slide 14: Portfolio Rotation
Portfolio Rotation Transactions since strategy update in July 2020(1) Portfolio as of 30 June 2020 Portfolio as of 30 March 2022 Assets 83 Assets 68 Portfolio Volume €1,631m Portfolio Volume €1,609.3m Ø value per asset €19.9m Ø value per asset (+21,1%) €24.1m Ø age of asset 26.6 years Ø age of asset
Slide 15: 3. Asset Management
3. Asset Management Retail property ‚Rondo Steinheim‘ Hanau
Slide 16: Tenant base
Tenant base Top-10 tenants (as of 31 December 2021) Sector distribution (as of 31 December 2021) Sector Rent(1) Tenant Sector Rent(1) EDEKA Food retail 11.8% Food 31.9% Kaufland Food retail 7.1% IT/Communikation 10.8% REWE Food retail 5.9% DIY 9.0% OBI DIY 5.5% Finance/Insurance 8.3% Jobcenter Agenc
Slide 17: Lease contracts
Lease contracts Weighted average lease expiry (as of 31 December 2021) Letting result 2021 66,616 m2 52,611 m2 14,004 m2 73,191 m2 6.9 years 35,952 m2 37,239 m2 6.1 years 5.1 years New lettings Contract extensions Total Retail Office Total Retail Office 30,0% Lease expiry schedule (as of 31 December
Slide 18: Corona impact
Corona impact Rent collection rates(1) (as of 30 March 2022) Lockdown 98.8% 99.1% 99.8% 99.6% 99.1% Q1 Q2 Q3 Q4 Q1 2021 2021 2021 2021 2022 Despite lockdown phase with far-reaching opening restrictions consistently high rent collection rates in 2021 Average rent collection rate at 99.3% in 2021
Slide 19: 4. Financials
4. Financials Office property/Medical center Regensburg
Slide 20: Key figures 2021
Key figures 2021 Key figures 2021 2020 Change Profit and loss statement Income from rents and leases €84.4m €88.2m -4.3% Operating result €31.8m -€0.9m n/a Profit for the period €54.3m -€9.3m n/a Key KPIs Funds from Operations (FFO) €53.1m €55.6m -4.5% Funds from Operations (FFO) per share €0.65 €0.
Slide 21: Funds from operations (FFO)
Funds from operations (FFO) in k€ 2021 2020 Change Comments 1 Income from rents and leases 84,360 88,193 -4.3% ▪1 Decline in rental income mainly due to Income from passed on costs 14,021 14,145 -0.9% property disposals (€-7.1m) Rent decrease partly offset by portfolio Operating expenses -17,967 -18
Slide 22: EPRA NAV & NTA
EPRA NAV & NTA NAV development 2021 €6.3m €5.1m -€37.9m €70.0m -€2.4m €984.9m -€0.5m €984.4m €53.1m €890.7m NAV FFO Like for like Capital Acquisitions/ Dividend Other NAV Intangible NTA 31 Dec 2020 Revaluation Increase Disposals effects 31 Dec 2021 Assets 31 Dec 2021 (scrip dividend) NAV p/s NAV p/s
Slide 23: Financial situation
Financial situation Expiration of financial liabilities (as of 31 December 2021) 61.0% REIT Equity ratio Refinancing 2022 completed 41.3% LTV Ø interest rate: 1.6% Ø maturity: 6.3 years €747.5m 1.7% Financial liabilities(1) 20.4% 1.60% Ø Cost of debt(1) 8.4% 13.0% 12.2% 10.8% 7.9% 8.2% 7.1% 4.9 year
Slide 24: Outlook
Outlook Guidance 2022 €84.0 – 86.0m €46.5m – €50.5m ~Previous year‘s level Rental income FFO NAV per share Mid-term outlook ~€2.0bn ~€100.0m Target portfolio size Ø annual acquisition volume Financials | 24
Slide 25: 5. ESG Strategy
5. ESG Strategy Office property Neu-Isenburg
Slide 26: 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 27: 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 28: 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 29: 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 flexibility of working model Target 100% 0% 20% 40% 60% 80% 100 % employer attractiveness ▪ Implementation o
Slide 30: 6. Appendix
6. Appendix Retail Lengerich
Slide 31: Top-10 properties (1/2)
Top-10 properties (1/2) Munich Berlin Cologne Mannheim Karlsruhe Asset type Office Office Office Retail Retail Year of acquisition 2013 2013 2017 2016 2012 Purchase price €40.2m €33.0m €48.9m €80.0m €37.0m Fair value(1) €80.1m €77.1m €76.9m €76.9m €56.0m Annual rents €2.6m €2.5m €2.9m €4.0m €2.7m WA
Slide 32: Top-10 properties (2/2)
Top-10 properties (2/2) Hanau Hallstadt Aachen Celle Erlangen Asset type Retail Retail Office Retail Office Year of acquisition 2017 2017 2020 2015 2011 Purchase price €37.5m €40.4m €37.4m €35.2m €27.9m Fair value(1) €46.7m €43.9m €41.6m €39.9m €38.0m Annual rents €2.0m €2.5m €2.0m €2.0m €2.1m WALT(
Slide 33: Financial Calendar 2022
Financial Calendar 2022 Annual report 2021 17 March 2022 Quarterly financial statement Q1 2022 26 April 2022 Annual General Meeting 2022 28 April 2022 Dividend payment 3 May 2022 Half-year financial report 2022 9 August 2022 Quarterly financial statement Q3 2022 10 November 2022 Appendix | 33
Slide 34: 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 35: Disclaimer
This presentation has been prepared and/or issued by HAMBORNER REIT AG (hereinafter "HAMBORNER") solely for information purposes. This presentation may contain statements, assumptions, opinions and predictions about the anticipated future development of HAMBORNER ("forward-looking statements") that