Castellana Properties Socimi Sa · BME:YCPS

Castellana Properties Socimi Sa — FY2023 Earnings Presentation

32 slides from Castellana Properties Socimi Sa's earnings presentation, May 2023

  1. Slide 1: FY23 Financial Results Presentation

    FY23 April 2022 – March 2023 FINANCIAL RESULTS PRESENTATION

  2. Slide 2: Key Highlights

    KEY HIGHLIGHTS  HIGHLIGHTS  MAIN KPI’s PERFORMANCE 2

  3. Slide 3: Highlights

    KEY HIGHLIGHTS / RESULTS PRESENTATION HIGHLIGHTS FINANCIAL PERFORMANCE OPERATIONAL PERFORMANCE VALUE CREATION  Like-for-Like GRI growth of +10.9% and  Capex invested in the period of c.€12  Increased stake in LAR España to 25,7% NOI growth of +9% compared to FY22 million in value added projects a

  4. Slide 4: Main KPI's Performance

    KEY HIGHLIGHTS / RESULTS PRESENTATION MAIN KPI’s PERFORMANCE 16 350,925 sqm 9.0% 98.7% 12.6 years 99.2% ASSETS GLA NOI OCCUPANCY(ii) WAULT RENT OPERATIONAL LIKE-FOR-LIKE COLLECTION GROWTH(i) € 64.7m € 46.5m € 467m 3.06% 41.73% 0.35€/share GRI NET DEBT(iv) ALL-IN COST +52.2%(vi) NET PROFIT(iii) NET L

  5. Slide 5: Operational Highlights

    OPERATIONAL HIGHLIGHTS  FOOTFALL & SALES  SALES PERFORMANCE PER TENANT CATEGORY  INVESTMENT IN LAR ESPAÑA 5

  6. Slide 6: Footfall and Sales: Record Figures

    KEY HIGHLIGHTS / RESULTS PRESENTATION FOOTFALL AND SALES RECORD FIGURES IN FOOTFALL AND SALES FOOTFALL & SALES INDEX Outstanding year in terms of footfall and sales during FY23 140% 18 1ST WAVE 2ND WAVE 3RD WAVE 4TH WAVE 5TH WAVE 6TH WAVE UKRANIAN WAR beating all records since acquisitions. Castella

  7. Slide 7: Sales Performance per Tenant Category

    KEY HIGHLIGHTS / RESULTS PRESENTATION SALES PERFORMANCE PER TENANT CATEGORY IMPRESSIVE GROWTH IN SALES FIGURES OF OUR MAIN CATEGORIES € million CASTELLANA PORTFOLIO SALES EVOLUTION 160 16.11%  At a portfolio level, Castellana Properties maintains a very good trend in sales, growing by +13.3% in 140

  8. Slide 8: Investment in Lar España

    KEY HIGHLIGHTS / RESULTS PRESENTATION INVESTMENT IN LAR ESPAÑA  Castellana’s investment in Lar España continues to  In January 2023, Lar España used the cash on its perform well as a financial investment balance sheet to perform a bond buyback program for €90.5m at a c. 18% discount to par value.

  9. Slide 9: FY23 Financial Results

    FY23 FINANCIAL RESULTS  CONSOLIDATED INCOME STATEMENT  FINANCIAL DEBT POSITION  GRI BRIDGE AND BREAKDOWN  CPI INDEXATION ENVIRONMENT  GAV BRIDGE AND BREAKDOWN  EPRA BPR METRICS 9

  10. Slide 10: Consolidated Income Statement

    FY23 FINANCIAL RESULTS / RESULTS PRESENTATION CONSOLIDATED INCOME STATEMENT CASTELLANA PROPERTIES CONTINUES TO DELIVER MARKET- LEADING OPERATIONAL RESULTS AND POSTS NET PROFIT OF €46.5 MILLION € thousand FY22 FY23 FINANCIAL PERFORMANCE Gross rental income (GRI) 58,769 64,710 Property operating expen

  11. Slide 11: Financial Debt Position

    FY23 FINANCIAL RESULTS / RESULTS PRESENTATION FINANCIAL DEBT POSITION € million 31/03/2022 31/03/2023 (i) Gross Asset Value (GAV) 1,091 1,118 (ii) € million Gross Debt 498 498 Cash 29 31 498.1 (1.7) 1.3 497.7 (ii)(iv) Net Debt 469 467 Metrics Gross LTV(iii) 45.67% 44.50% (iv) Net LTV 43.04% 41.73% N

  12. Slide 12: GRI Bridge and Breakdown

    FY23 FINANCIAL RESULTS / RESULTS PRESENTATION GRI BRIDGE AND BREAKDOWN GRI INCREASED TO OVER €64 MILLION LIKE-FOR-LIKE GROWTH OF 10.9% VERSUS FY22 NOI LIKE-FOR-LIKE GROWTH OF 9% VERSUS FY22 SHOPPING CENTRES €48m 70% LfL RETAIL PARKS GROWTH 10.9%(iii) €21m 30% € million 64.7 69 9.7 55.4 (0.4) GRI ASS

  13. Slide 13: CPI Indexation Environment

    FY23 FINANCIAL RESULTS / RESULTS PRESENTATION CPI INDEXATION ENVIRONMENT CPI-LINKED ESCALATIONS ARE MANDATORY FOR c.100% OF OUR LEASE AGREEMENTS, 72% OF THE INCREASED RENTAL ESCALATIONS WILL APPLY IN FY24 ALL TENANTS ACCEPTED CPI INDEXATION DURING FY23 WITH ASSET MANAGEMENT MONITORING TENANT AFFORDA

  14. Slide 14: GAV Bridge and Breakdown

    FY23 FINANCIAL RESULTS / RESULTS PRESENTATION GAV BRIDGE AND BREAKDOWN RESILIENT ASSET PORTFOLIO, STRONG NOI GROWTH AND ACTIVE ASSET MANAGEMENT KEYS TO +1.1% INCREASE DESPITE +100BPS HIKE IN DISCOUNT RATES (IRR) Direct Total GAV Portfolio value increase increase FY23 FY23 1.1% 2.5% € million 90 16 1

  15. Slide 15: EPRA BPR Metrics

    FY23 FINANCIAL RESULTS / RESULTS PRESENTATION EPRA BPR METRICS €646 m € 47.6m 5.96% 1.73% EPRA NTA EPRA EPRA NIY EPRA Earnings Vacancy rate EPRA AWARDS €6.39 € 0.48 6.35% 20.81% EPRA NTA EPRA EPRA EPRA per share Earnings per share “topped-up” NIY Cost ratio(i) 2019 2020 2021 2022 (i) Ratio calculate

  16. Slide 16: Value Creation

    VALUE CREATION  LEASING ACTIVITY  VALUE ADDED PROJECT - VALLSUR  INNOVATION AND DIGITALIZATION  CUSTOMER CENTRICITY  ESG 16

  17. Slide 17: Leasing Activity

    FY23 FINANCIAL RESULTS / RESULTS PRESENTATION LEASING ACTIVITY CONSISTENTLY COMMERCIAL PERFORMANCE MAIN BUSINESS KPI´S PORTFOLIO OCCUPANCY(iii) 189 €7.3m 31 MARCH LEASES SIGNED NEW RENT SIGNED 2023 98.7% 31 MARCH 2022 98.4% 85 104 €4.1m €3.2m RENEWALS NEW CONTRACTS RENEWALS NEW CONTRACTS RENT ARREAR

  18. Slide 18: Value Added Project - Vallsur

    VALUE CREATION / RESULTS PRESENTATION VALUE ADDED PROJECT - VALLSUR AFTER RE-ENVISIONING THE FIRST FLOOR TO REINFORCE EXPERIENTIAL LEISURE AND F&B OFFERING THROUGH A REPOSITIONING AND RESTYLING OF THE MALL WORKS ALREADY STARTED WITH F&B AREA OPENING SCHEDULED IN H2 2024 BEFORE €16.7m CAPEX INVESTMEN

  19. Slide 19: Innovation and Digitalisation: Open Innovation

    VALUE CREATION / RESULTS PRESENTATION INNOVATION AND DIGITALISATION: OPEN INNOVATION DISCOVERING NEXT RETAIL TRENDS CHALLENGING THE INNOVATION ECOSYSTEM NEW RETAIL CHALLENGE OPEN CALL FOR STARTUPS WITH FRESH RETAIL CONCEPTS +25  Acceleration program to bring new innovative and sustainable retail mo

  20. Slide 20: Customer Centricity 1/3

    VALUE CREATION / RESULTS PRESENTATION CUSTOMER CENTRICITY 1/3 CASTELLANA’S COMMITMENT TO CONVERT ITS MALLS INTO GO-TO DESTINATIONS Castellana Properties continues bringing the most powerful and exciting events and experiences to the shopping centers. Our target is to have constant events and also cr

  21. Slide 21: Customer Centricity 2/3

    VALUE CREATION / RESULTS PRESENTATION CUSTOMER CENTRICITY 2/3 BRINGING THE MOST EXCITING EXPERIENCES TO OUR PORTFOLIO, EVEN PRODUCING OUR OWN EVENTS Thanks to the scale and diversification of its portfolio, Castellana Properties benefits from certain synergies and cost efficiencies, even producing o

  22. Slide 22: Customer Centricity 3/3

    VALUE CREATION / RESULTS PRESENTATION CUSTOMER CENTRICITY 3/3 STRENGTHENING TIES WITH OUR STAKEHOLDERS POSITIONING THE COMPANY AS A TRUSTED AND LOVED PARTNER CUSTOMERS(i) TENANTS(ii) NPS: 41 With a response rate of 82.3 %, tenant satisfaction achieves a rate of 8 out of 10, above Research indicates

  23. Slide 23: ESG

    VALUE CREATION / RESULTS PRESENTATION ESG CASTELLANA PROPERTIES CONTINUES WITH ITS ESG ROAD MAP SUCCESSFULLY In this first year of reporting Castellana Properties has obtained several awards and certifications: AT CORPORATE LEVEL AT ASSET LEVEL EPRA sBPR 100% of Castellana Properties commercial cent

  24. Slide 24: Thank You

    THANK YOU 24

  25. Slide 25: Appendix

    APPENDIX  OUR PORTFOLIO  TOP 10 ASSETS  ESG STRATEGIC PLAN 25

  26. Slide 26: Our Portfolio

    VALUE CREATION / RESULTS PRESENTATION OUR PORTFOLIO WELL DIVERSIFIED ACROSS SPAIN 1 El Faro 9 4% 2 Bahía Sur 3 Los Arcos 4 Granaita 7 7% 5 Habaneras 6 Puerta Europa 7 Vallsur 8 5% 16 15 8 Parque Oeste de Alcorcón 22% 9 Parque Principado 11 10% 1 10 Marismas de Polvorín 12 5 11 La Heredad 2% 12 La Se

  27. Slide 27: Spanish Portfolio Overview 1/2

    VALUE CREATION / RESULTS PRESENTATION SPANISH PORTFOLIO OVERVIEW 1/2 TOP 10 ASSETS EL FARO BAHÍA SUR LOS ARCOS GRANAITA(ii) HABANERAS Province Badajoz Cádiz Seville Granada Alicante Catchment Area (Inhabitants) 517,491 674,250 1,499,884 628,002 531,670 Gross Lettable Area 40,718m² 35,297m² 26,577m²

  28. Slide 28: Spanish Portfolio Overview 2/2

    VALUE CREATION / RESULTS PRESENTATION SPANISH PORTFOLIO OVERVIEW 2/2 TOP 10 ASSETS PUERTA EUROPA VALLSUR PARQUE OESTE(ii) PARQUE PRINCIPADO MARIS. DEL POLVORÍN Province Cádiz Valladolid Madrid Oviedo Huelva Catchment Area (Inhabitants) 311,110 477,746 5,856,325 866,511 318,213 Gross Lettable Area 29

  29. Slide 29: ESG Strategic Plan

    APPENDIX / RESULTS PRESENTATION ESG STRATEGIC PLAN SUSTAINABLE CITIES AND COMMUNITIES The 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015, provides a shared blueprint for peace and prosperity for people and the planet, now and  Progressively install char

  30. Slide 30: ESG Assessment Landscape

    APPENDIX / RESULTS PRESENTATION ESG ASSESMENT LANDSCAPE SPECIFIC FOCUS HOLISTIC COMPANY SCOPE ASSETS 30

  31. Slide 31: Disclaimer

    RESULTS PRESENTATION DISCLAIMER PURPOSE OF THIS PRESENTATION AND LIABILITY ACCOUNTING STANDARDS APPLIED This document has been prepared by Castellana Properties SOCIMI, S.A. ("Castellana Properties") This document and the information presented herein was prepared by Castellana Properties solely with

  32. Slide 32: Rubén Darío, 3 28010 Madrid www.castellanaproperties.es

    Rubén Darío, 3 28010 Madrid (+34) 91 426 86 86 www.castellanaproperties.es 32

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