Hamborner Reit Ag · XETR:HABA
Hamborner Reit — Q1 2021 Earnings Presentation
18 slides from Hamborner Reit's earnings presentation, Apr 27, 2021
Slide 1: Conference Call Q1 2021
Conference Call Q1 2021 27 April 2021
Slide 2: Highlights Q1 2021
Highlights Q1 2021 ▪ Stable development of business in Q1 2021 despite ongoing challenging market environment Continued solid ▪ HAMBORNER continues to benefit from risk-diversified portfolio as well as high operational business proportion of tenants with strong financial profile development in 1st ▪
Slide 3: Key Figures Q1 2021
Key Figures Q1 2021 Key figures Q1 2021 Q1 2020 Change Profit and loss statement Income from rents and leases €21.8m €21.8m +0.0 % Operating result €7.3m €7.1m +3.3 % Profit for the period €10.4m €3.3m n/a Key KPIs Funds from Operations (FFO) €12.7m €13.3m -4.6 % Funds from Operations (FFO) per shar
Slide 4: Portfolio Key Metrics as of 31 March 2021
Portfolio Key Metrics as of 31 March 2021 Portfolio share Retail Office Total Portfolio(1) High-Street Fair value €913.1m €708.3m €1,621.4m €145.2m Number of properties 47 28 75 12 Leased area 414,791 m² 222,026 m² 636,817 m² 57,463 m² Annualized rent €53.3m €34.6m €87.9m €9.4m Annualized rental yie
Slide 5: Acquisitions 2021
Acquisitions 2021 Mainz Münster Asset type Office Asset type Office Investment approach ‘Manage-to-core’ Investment approach ‘Core’ Leased area 7,700 m² Leased area 6,300 m² Gross initial yield 7.0 % Purchase price €23.9m WALT(1) 2.9 years Rental income €1.1m Occupancy rate(1) 100 % Gross initial yi
Slide 6: Disposals 2021
Disposals 2021 Bad Homburg Bad Homburg Louisenstr. 66 Louisenstr. 53-57 Selling price €11.2m €15.9m Annual rental income €0.67m €0.82m WALT(1) 6.6 years 4.3 years Transfer of possession 1 April 2021 Q2 2021e Hamburg Fürth Villingen-Schwenningen(2) Selling price €10.9m €27.4m €3.1m Annual rental inco
Slide 7: Funds from Operations (FFO)
Funds from Operations (FFO) in k€ Q1 2021 Q1 2020 Change Comments 1 Income from rents and leases 21,810 21,807 +0.0 % ▪1 Decline in rental income due to property disposals (-€0.51m) and Income from passed on costs 3,707 3,443 +7.7 % pandemic-related risk provisioning Operating expenses -5,674 -5,441
Slide 8: EPRA Net Asset Value (NAV) & Net Tangible Assets (NTA)
EPRA Net Asset Value (NAV) & Net Tangible Assets (NTA) in k€ 31 Mar 2021 31 Dec 2020 Comments 1 Long-term assets 1,160,523 1,200,826 1▪ Decrease in long-term assets (incl. 2 Short-term assets 152,542 64,958 hidden reserves) mainly related to property disposals 3 Non-current liabilities and provision
Slide 9: Tenant base
Tenant base Top-10 tenants (as of 31 March 2021) Sector distribution (as of 31 March 2021) Tenant Sector Rent(1) Sector Rent(1) EDEKA Food retail 11.7 % Food 33.1 % Kaufland Food retail 5.5 % IT/Communication 9.5% REWE Food retail 5.3 % Finance/Insurance 8.6% Real Food retail 5.3 % DIY 8.1% Textile
Slide 10: Lease Contracts
Lease Contracts Weighted average lease expiry (as of 31 March 2021) Letting result (Q1 2021; in m²) 46,434 7.1 years 6.4 years 39,598 5.3 years 6,836 Retail Office Total New lettings Contract extensions Total Lease expiry schedule (as of 31 March 2021; % of annual rents) 25,0% 20,0% 7.4% 15,0% 4.2%
Slide 11: Letting Activities Q1 2021
Letting Activities Q1 2021 Letting schedule 2021: Overview of expiring rental volume and follow-up lettings (as of 31 March 2021) Expiring rental volume €356k €678k €748k €2,554k €4,335k 72.9 Ongoing reletting 22.5% €977k Likely extension 27.1% of contracts 6.3% Disposals 12.1% New lettings 16.6 % €
Slide 12: EPRA vacancy rate Q1 2021
EPRA vacancy rate Q1 2021 Reconciliation of EPRA vacancy rate development (as of 31 March 2021) +0.3% -0.4% 1.9% -0.1% 1.7% -0.2% EPRA vacancy rate Increase in Vacancy Vacancy EPRA vacancy rate 31 December vacancy reduction reduction 31 March 2020 achieved by resulting from 2021(1) letting activitie
Slide 13: Financial situation
Financial situation Expiration of financial liabilities (as of 31 March 2021) 55.6% REIT Equity ratio Ø Refinancing interest rate 2021: 1.1 % 44.0% LTV €772.7m 1.6% Financial liabilities(1) 20.3% 8.1% 1.71% 12.1% 12.8% Ø cost of debt(1) 10.6% 7.8% 8.1% 4.7% 2.5% 2.7% 3.0% 5.3 years Ø maturity of deb
Slide 14: Corona Update
Corona Update Rent collection rates(1) (as of 22 April 2021) 98.8% 95.2% 94.2% 94.1% 94.8% 95.8% April-June July-December January February March April 2020 2020 2021 2021 2021 2021 Lockdown/ Lockdown Lockdown Lockdown Lockdown legal moratorium (1) Incl. incidental rental costs and VAT ▪ Despite chal
Slide 15: Guidance and outlook
Guidance and outlook Dividend ▪ Maintaining reliable and attractive dividend policy ▪ Dividend proposal for FY 2020 of €0.47 per share ▪ Intended offer of scrip dividend Guidance 2021 ▪ Rental income: €82 - 86m ▪ FFO: €45 - 50m ▪ NAV expected to reach previous year’s level ▪ Forecast allows for unce
Slide 16: Appendix: Financial Calendar 2021/2022
Appendix HAMBORNER REIT AG – Financial Calendar 2021/2022 Annual General Meeting 2021 29 April 2021 Half-year financial report H1 2021 29 July 2021 Interim statement Q3 2021 9 November 2021 Preliminary figures 2021 8 February 2022 Annual report 2021 17 March 2022 Quarterly financial statement Q1 202
Slide 17: 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 & Public Relations Web: www.hamborner.de https://www.linkedin.com/ Mail: c.heitmann@hamborner.de company/5602825 Phone: +49
Slide 18: Disclaimer
Disclaimer This presentation was exclusively prepared for the addresses specified on the title page and/or the participants at the mentioned event. The information in this presentation is based on both public information and documents as well as information which was made available to HAMBORNER REIT