Inmobiliaria Del Sur, S.a. · BME:ISUR
Inmobiliaria Del Sur — Grupo Insur — 9M 2021 Earnings Presentation
18 slides from Inmobiliaria Del Sur's earnings presentation, Oct 29, 2021
Slide 1: 9M 2021 Results Presentation
9M 2021 Results Presentation October 29th , 2021
Slide 2: Legal Notice
“ Legal Notice This presentation is the exclusive property of INMOBILIARIA DEL SUR. S.A. (INSUR). Its total or partial reproduction is strictly prohibited and it is covered by current law. Offenders will legally prosecuted both in Spain and abroad. The use, copy, reproduction or sale of this publica
Slide 3: Rationale behind the use of the proportionate method
“ Rationale behind the use of the proportionate method Grupo INSUR (Insur) , whose parent company is Inmobiliaria del Sur, S.A., develops two main activities, housing development and rental. The rental activity is carried out by Insur Patrimonial, S.L.U. (IPAT), fully owned by Insur, as well as by o
Slide 4: Executive Summary. 9M 2021 Highlights
Executive Summary. 9M 2021 Highlights Figures by proportionate method €m = million Euros ➢ Homebuilding revenues affected by the higher concentration of Var % y-o-y deliveries in 4Q 21 and by the delivery in 3Q 20 of the South building HOMEBUILDING €48.8m -39.7% of Río 55. Without this last effect,
Slide 5: Executive Summary. 9M 2021 Results
Executive Summary. 9M 2021 Results €m = million Euros Figures by proportionate method REVENUE BREAKDOWN -21.6% 105,4 9M20 Housebuilding Rentals -39.7% Construction Services 9M21 3% 82,6 81,0 24% 48,8 +61.6% +14.6% +14.6% 20,0 59% 9,7 11,1 12,4 13% 2,3 2,6 Revenues Housebuilding Rentals Construction
Slide 6: Housebuilding
Housebuilding ➢ In January- September 2021, a total of 220 homes were delivered, against 256 homes, 2 €m Accumulated presales (100% owned and 100% JV) business premises and the South building of Rio 55 delivered in 9M 20. ➢ The Group currently has 213 homes completed, of which 128 are pending to be
Slide 7: Ongoing developments and land portfolio
Ongoing developments and land portfolio Ongoing Developments Land Portfolio 2,343 ongoing units 2,128 units and 72,015 sqm buildable in comercial assets ▪ 37 ongoing developments (22 in West Andalucía, 6 in Costa del ▪ 115,995 sqm of buildable plots for residential Sol, 6 in Madrid, 1 in Cáceres and
Slide 8: Finished developments
Finished developments Figures as of September, 30th , 2021 100% owned developments Total units Sold units pending to be Development Location Sold units Units pending to be sold developed delivered Altos Castilleja 7ªf Castilleja de la Cuesta (Sevilla) 34 33 1 Antonio Mairena Castilleja de la Cuesta
Slide 9: Developments under construction
Developments under construction Figures as of September, 30th , 2021 100% owned developments Development Location Units Estimated delivery Sold units Santa Aurelia 1ªf Sevilla 52 2023 24 Santa Aurelia 2ªf Sevilla 52 2023 12 104 36 JV developments Development Location Units Estimated delivery Sold un
Slide 10: Projects under development
Projects under development Figures as of September, 30th , 2021 * Under commercialization ** Optioned plot 100% owned developments Estimated construction Development Location Units Sold units start date Ares III Dos Hermanas (Sevilla) 92 2021 31 92 31 JV developments Estimated construction Developme
Slide 11: Insur Scala: new project on the Costa del Sol
Insur Scala: new project on the Costa del Sol ➢ New development on the Costa del Sol - Estepona (Málaga) acquired in July 2021. ➢ Located in the SUP R-6 "Juan Benítez" sector, plot in a consolidated area, next to the Municipal Auditorium, the Athletics Stadium and the Municipal Stadium, very close t
Slide 12: Rentals
Rentals ➢ During 9M 21, 6,775.3 sqm have been sold and there have been contract terminations of 9,489.7 sqm (5,652 sqm Rental revenues correspond to the Media Markt and Endesa Huelva contracts €m already announced last year). +14.6% ➢ Occupancy rate stood at 88.3%, -1.1 p.p. vs the rate in 2020 year
Slide 13: Construction y services
Construction y services CONSTRUCTION REVENUES: €20.0m (+61.6% y-o-y) SERVICES REVENUES: €2,6m (+14.6% y-o-y) Main projects currently managed FOC (192 units): Selecta Hermes: 116 units (115 already delivered) Selecta Ares I: 76 units (41 already delivered) Selecta Entrenúcleos (Sevilla), 2.436 units
Slide 14: GAV, NAV, LTV & debt
GAV, NAV, LTV & debt €m All figures in proportionate GAV INSUR* NAV INSUR LTV evolution % 38,9 36,2 36,5 39,7 41,6 510.5 537.6 526.0 527.5 305,7 325,7 341,2 312,9 305,1 501.0 333,0 M€ 294 298,1 300,7 358,9 365,3 1S 2019 200,3 216,5 239,5 167,1 162,2 2017 2018 2019 2020 9M21 2017 2018 2019 2020 9M 21
Slide 15: Share Price performance
Share Price performance Share Price performance 9M 2021 In 9M 21 the share Price (ISUR) increased by 9.5%. In that same period, the Ibex 35 grew by 8.6% and the Ibex Small Caps decreased by 0.1%. The share price closed at €8.08 which implies a market cap of €150.8m as of September 30, 2021. NOTE: af
Slide 16: Conciliation between equity method and proportionate method
Conciliation between equity method and proportionate method Consolidated P&L €m 9M2021 9M2020 Equity method Adjustments Proportionate Equity method Adjustments Proportionate a Revenues 74.7 7.9 82.6 66.3 39.1 105.4 Housebuilding 28.1 20.7 48.8 27.9 53.1 81.0 Rental 11.0 0.1 11.1 9.3 0.4 9.7 b Constr
Slide 17: Conciliation between equity method and proportionate method
Conciliation between equity method and proportionate method Consolidated balance sheet €m 30.09.21 31.12.20 Equity method Adjustments Proportionate Equity method Adjustments Proportionate Property, Plant and Equipment 220.1 0.0 220.2 216.0 0.1 216.1 a Financial investments in JVs 41.6 (40.4) 1.2 38.
Slide 18: María Ferrer, Investor Relations Manager
María Ferrer Investor Relations Manager accionistas@grupoinsur.com