Patrizia Se · XETR:PAT

Patrizia — PATRIZIA Immobilien — FY2015 Earnings Presentation

21 slides from Patrizia's earnings presentation, Mar 17, 2016

  1. Slide 1: FY 2015 Results Conference Call

    FY 2015 Results Conference Call Karim Bohn, CFO 17 March 2016 PATRIZIA Immobilien AG PATRIZIA Bürohaus | Fuggerstrasse 26 | 86150 Augsburg | T +49 821 50910-000 | F +49 821 50910-999 | immobilien@patrizia.ag | www.patrizia.ag

  2. Slide 2: 2015 results confirm PATRIZIA's successful strategy…

    2015 results confirm PATRIZIA’s successful strategy… Upper end of upward revised guidance achieved ASSETS UNDER MANAGEMENT (in EUR billion)  EUR 155m operating income, tripled from EUR 50m in 2014 As of 31 December 2015  EUR 2.0bn growth of Assets under Management to EUR 16.6bn 18.6  EUR 269m fee

  3. Slide 3: …with a positive earnings contribution across all businesses

    …with a positive earnings contribution across all businesses MANAGEMENT TRANSACTIONS INVESTORS ACCESS EQUITY INVEST  EUR 16.6bn AuM,  Unique access to  EUR 1.5bn additional  EUR 588m up by EUR 2.0bn deal flow equity raised in 2015 invested capital  Fund management:  EUR 7.2bn  Diversified  E

  4. Slide 4: Growing Assets under Management especially outside of Germany…

    Growing Assets under Management especially outside of Germany… EUR 2.0bn AuM growth delivered 2015 ASSETS UNDER MANAGEMENT (in EUR billion)  2016 target of further EUR 2.0bn AuM growth As of 31 December 2015 18.6 Net growth of EUR 2.0bn 2015 by -3.0 +0.8 16.6  EUR 7.2bn fee generating transactions

  5. Slide 5: …deliver stable and growing 3rd party fee income…

    …deliver stable and growing 3rd party fee income… TOP LINE GROWTH DRIVEN BY FEE INCOME (in EUR million) INCREASE IN ALL FEE SEGMENTS As of 31 December 2015 268.7 Strong development of fee income in 2015:  Solid fee growth with outstanding progress of performance fee 128.5 +552.3%  Total fee income

  6. Slide 6: …with transaction fees becoming a sustainable part of total income

    …with transaction fees becoming a sustainable part of total income TRANSACTION VOLUME OF EUR 7.2BN TRANSACTION VOLUME (in EUR billion) Strong transaction volume in 2015: As of 31 December 2015  Increase to EUR 7.2bn vs. EUR 4.1bn in 2014 7.2  Acquisitions of EUR 4.2bn, up from EUR 3.4bn in 2014 

  7. Slide 7: Investor base is becoming increasingly more international…

    Investor base is becoming increasingly more international… EQUITY COMMITMENT OF INTERNATIONAL INVESTOR DOMICILE BY EQUITY COMMITMENT1 INVESTORS ACCELERATED 92%  Equity Commitment up to EUR 9.8bn from 2013: EUR 7.5bn end of 2013 EUR 7.5bn  More than 200 institutional investors are invested  Commit

  8. Slide 8: …and asset base follows along

    …and asset base follows along FOOTPRINT OF ASSETS WELL INTERNATIONAL GEOGRAPHICAL FOOTPRINT OF ASSETS1 DIVERSIFIED 77%  AuM up to EUR 16.6bn from EUR 10.6bn end of 2013 2013:  Presence in 15 European markets, office to serve the EUR 10.6bn Iberian Peninsula has been opened 2015 6%  AuM outside of

  9. Slide 9: Shareholders benefit from attractive real estate investments

    Shareholders benefit from attractive real estate investments INVESTMENT INCOME STRONGLY UP INVESTMENT INCOME (in EUR million)  Invested equity in Principal Investments and in Co-Investments As of 31 December 2015 INVESTMENT DISCIPLINE PAYS OFF: + 67.2%  Growth underlines strong performance and sol

  10. Slide 10: Operational success of PATRIZIA reflected in 2015 results

    Operational success of PATRIZIA reflected in 2015 results Operating Income 2015 – EUR m Institutional Funds Third Party Business: +206% Third Party Business Retail Funds 153.2 50.0 Fees Co-Investments 2014 2015 Income Third Party Investments Streams + Return on Equity Co-Investments Equity Investmen

  11. Slide 11: Development of operating income

    Development of operating income RECONCILIATION TO OPERATING INCOME in TEUR 2015 2014 Change in % COMMENTS EBITDA 175,077 55,886 213.3 Increase driven by income from participations (dividends and Amortisation of management contracts performance fee, especially and tangible assets and equipment -7,059

  12. Slide 12: Conservative balance sheet paves ground for future growth…

    Conservative balance sheet paves ground for future growth… 31.12.2015 IN EUR MILLION 31.12.2015 31.12.2014 COMMENTS pro forma2 Total assets 1,631.8 690.8 741.2 Harald effect: Balance Sheet and Bank Equity (incl. non-controlling partners) 539.8 522.4 410.0 Loans, Net Financial Debt as well as Equity

  13. Slide 13: …facilitated by a solid capital structure

    …facilitated by a solid capital structure SALE OF HARALD-PORTFOLIO WILL SIGNIFICANTLY DE-LEVER PATRIZIA  As of 31 December 2015, EUR 692.2mn of EUR 888.8mn total debt relates to Harald. As of closing, these liabilities will vanish from PATRIZIA´s balance sheet.  Harald will contribute significantl

  14. Slide 14: Outlook: expanding our reach

    Outlook: expanding our reach  Positive momentum continues in 2016 OPERATING INCOME GUIDANCE (in EUR million) As of 31 December 2015  Strong 2015 results confirm European expansion strategy at least 250  Further optimisation of platform:  Further improvement at all important KPIs in 2016, with a

  15. Slide 15: APPENDIX

    APPENDIX PATRIZIA Immobilien AG| © 2016 15

  16. Slide 16: P&L

    P&L EUR'000 2015 2014 COMMENTS Revenues 384,858 291,815 Revenues include income from management Income from the sale of investment property 10,075 17,019 services, revenues from sale of PATRIZIA´s Principal investments recognised as Changes in inventories -166,980 -110,509 inventories and rental inc

  17. Slide 17: How our major income streams are reflected in our P&L

    How our major income streams are reflected in our P&L EUR m FY 2015 FY 2014 EUR m FY 2015 FY 2014 EUR m FY 2015 FY 2014 Revenues 384.9 291.8 Revenues 384.9 291.8 Third Party Business 273.3 141.3 Income from the sale of investment property 1) 10.1 17.0 Rent 42.8 21.2 Sales of principal investments Ch

  18. Slide 18: Balance sheet - assets

    Balance sheet - assets ASSETS COMMENTS EUR'000 31.12.2015 31.12.2014 A. Non-current assets Goodwill 610 610 Fund management contracts of PATRIZIA GewerbeInvest and PATRIZIA UK Fund management contracts 37,417 39,407 Software 9,225 10,795 Investment property 20,802 78,507 Principal Investments at fai

  19. Slide 19: Balance sheet – equity/liabilities

    Balance sheet – equity/liabilities EQUITY AND LIABILITIES COMMENTS EUR'000 31.12.2015 31.12.2014 A. Equity Share capital 76,324 69,385 Capital reserve 191,637 198,576 Retained earnings Legal reserves 505 505 Non-controlling shareholders 18,190 809 Increase due to Harald transaction (‘RETT blocker’)

  20. Slide 20: Financial calendar

    Financial calendar 2016 March 17  Financial statements 2015 May 10  Interim report for the first quarter of 2016 16  Annual General Meeting, Augsburg August 9  Interim report for the first half of 2016 November 8  Interim report for the first nine months of 2016 The conference calls about the f

  21. Slide 21: Contact details

    Contact details KARIM BOHN MICHAEL TEGEDER VERENA SCHOPP DE CFO HEAD OF IR ALVARENGA MANAGER IR PATRIZIA Immobilien AG PATRIZIA Immobilien AG PATRIZIA Immobilien AG PATRIZIA Bürohaus PATRIZIA Bürohaus PATRIZIA Bürohaus Fuggerstrasse 26 Fuggerstrasse 26 Fuggerstrasse 26 86150 Augsburg 86150 Augsburg

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