Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España Real Estate SOCIMI — Q1 2022 Earnings Presentation
22 slides from Helios Re Socimi's earnings presentation, May 19, 2022
Slide 1: Q1 2022 Business Update
Q 1 2 0 2 2 B U S I N E S S U P D AT E 19th May 2022 www.larespana.com
Slide 2: Contents
Contents 1 2 3 Highlights Financial Closing information remarks and ESG
Slide 3: Highlights
Highlights 1
Slide 4: 2021 was a very intense year in terms of corporate activity
Highlights 1 Asset rotation: 22 supermarkets divestment (February 2021) 2021 was a very intense year in terms of 2 Revised IMA extension (June 2021) corporate activity 3 End of the 3rd share buyback program. 5% of share capital amortized (October 2021) 4 2 green bonds issuance: maturity extension an
Slide 5: And 2022 has begun with great challenges
Highlights And 2022 has begun with great challenges High inflation level Lower GDP(%) Growth projections Energy prices remain high. Electricity price forecasts are not positive Real GDP, anual % change 2021 2022 2023 Source: WEO April 2022 IMF Source: Caixabank Research April 2022 Source: Bloomberg
Slide 6: Despite all this, the outlook is positive
Highlights Despite all this, the outlook is positive Inflation is unlikely to remain elevated in the long term The Spanish economy is already at pre-crisis levels and The origin of all the problems is the price of oil and there is still room for improvement (tourism not fully the estimate is that it
Slide 7: And Lar España has proven to be a resilient company over the years
Highlights And Lar España has proven to be a resilient company over the years GLA (sqm) Footfall vs 2019 (%) Effort rate (%) 579.286 102% 9.8% 100% 9.4% 550.854 2019 2020 2021 2022 2019 2020 2021 2022 2019 2020 2021 2022 Occupancy (%) Sales vs 2019 (%) LTV (%) 96.0% 127% 39.9% 100% 34.2% 95.5% 2019
Slide 8: With relevant operating performance in Q1 2022
Q1 2022 Operating performance With relevant operating performance in Q1 2022 Leasing KPIs 15,172 sqm 11% +6.3 % 2 >60% contracts 2.6 y 9.4% Effort rate Rotated Annualised rotation rate Rent uplift >2025 WAULT expenses included 36 2.8 Mn Operations in 1Q 2022 Negotiated rent Sales & Footfall +27.4% +
Slide 9: And a good set of results, financial position and cash generation capability
Q1 2022 Operating performance And a good set of results, financial position and cash generation capability € 24.4 Mn €1,425Mn 39.9% Net LTV closing 1Q 22 Recurring GRI Q1 2022 GAV € 13.6 Mn €10.50 1.8% EPRA NTA p.s.2 Average cost of debt Recurring Net Profit Q1 2022 c.€200Mn 5.2 years € 10.7 Mn Liqu
Slide 10: Attractive dividend: Maintained despite Covid-19
Highlights Attractive dividend: Maintained despite Covid-19 8.9% Div Yield over Market Cap 1 Committed to profitability € 0.63 ps To be paid in May 27th € 0.54 ps €55.0 Mn • Prudent cash position control with a detailed € 0.49 ps 7.0% Div 6.7% Div liquidity analysis. Yield over €50.0 Mn Yield over M
Slide 11: Financial information & ESG
Financial information & ESG 2
Slide 12: Operating Results in Q1 2022
Financial information & ESG Results Assets Operating Results in € 24.4 Mn Outperforming the Spanish and European Q1 2022 Recurring GRI Q1 2022 market 6.0% € 17.9 Mn EPRA “topped-up” NIY Recurring EBITDA Q1 2022 96%2 € 13.6 Mn Occupancy Recurring Net Profit Q1 2022 2.6 years WAULT €1,425Mn GAV 95% Co
Slide 13: Corporate Results in Q1 2022
Financial information & ESG Corporate Corporate Results 7.0 % c.€200Mn in Q1 2022 €30.0 Mn Liquidity Dividend Dividend Yield Expenses covered over €0.36 p.s. paid dividend Over market cap1 the next 4 years Net LTV 39.9% €400 Mn 1.75% Closing Q1 22 Green Bond issuance Interest rate 1.84 Average cost
Slide 14: Debt profile & cash position
Financial information & ESG Financial profile & cash position As of 31/03/22 €568.5 Mn 5.2 years Avg. Debt Maturity Net financial debt BBB 100%* 39.9% Fixed rate and Net LTV Unencumbered 1.8% 100%* Green debt Average cost of debt 14 * Excludiong Bankinter credit facility
Slide 15: Debt evolution
Financial information & ESG Debt evolution LTV (%) Evolution Average cost of debt (%) Evolution 41.9% 2.2% 1.9% 1.8% 40.7% 39.9% 2020 2021 2022 2020 2021 2022 15
Slide 16: Stable valuations
Financial information & ESG Stable valuations 31st December 2021 Valuation €1,424 Mn Including Capex Invested A resilient portfolio of dominant shopping centres in attractive Asset appraisal variations catchment areas. 48.8% Cherry picked assets carefully selected without acquiring portfolios. Asset
Slide 17: P&L Q1 2022
Financial information & ESG P&L Q1 2022 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Consolidated Income Statement 1Q 2022 Recurring Var % Non Recurring Total (€ Thousands) Rental Income 23,665 23,483 (3,716)1 (3,134)2 19,949 20,349 Other Income 690 572 - - 690 572 Personnel expenses (185) (145)
Slide 18: With the best in class practices in ESG
Financial information & ESG With the best in class practices in ESG Governance The data automation platform for Social Environmental environmental indicators was put into operation in 2021.The company 100% Recommendations of the 6 assets certified is currently completing the roll-out CNMV Good Gover
Slide 19: Monitoring key indicators: 2021 performance
Financial information & ESG Energy vs 2019 Data automation in shopping malls already LfL Greater launched. vsperiodicity, 2020 LfL Monitoring key Electricity greater consumption -7.6% data homogenization and time savings. +0.1% It has allow us to have figures for the 1H21 asset´s performance. indica
Slide 20: Closing remarks
Closing remarks 3
Slide 21: In summary: with significant upside potential
Closing remarks In summary: with significant upside potential Sound balance, Innovative, with Truly committed Leaders in a clearly Resilient through moderate debt & focus on Top in class ESG to value creation recovering market cycles strong cash omnichannel practices & shareholder position profitabi
Slide 22: www.larespana.com
—_— lar www.larespana.com
Lar España Real Estate SOCIMI — Q1 2022 Earnings Presentation on 6ix