Ireit Global · SGX:8U7U
Ireit Global — Shareholder Meeting (April 2022)
20 slides from Ireit Global's shareholder meeting presentation, Apr 27, 2022
Slide 1: 2022 Annual General Meeting
2022 Annual General Meeting 27 April 2022 Joint Sponsors of IREIT Global:
Slide 2: Important Notice
Important Notice This presentation may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and as
Slide 3: Agenda
Agenda Key Developments 4 Portfolio Overview 7 FY2021 Financial Highlights 12 Looking Ahead 18 3
Slide 4: Key Developments
Key Developments Berlin Campus 4
Slide 5: Key Developments
Key Developments April 2021 Aug 2021 Nov 2021 Announced acquisition Implemented dual Completed divestment of of a portfolio of 27 retail currency trading and multi-storey carpark in properties in France proposed change in Darmstadt Campus. from Decathlon (the distribution currency “French Portfolio”
Slide 6: Executing IREIT Strategy
Executing IREIT Strategy No. of Properties Portfolio Valuation by Country (1) Portfolio Valuation by Asset Class (1) 37 Spain 9 properties as at 31 Dec 2020 18% Office Germany 100% Valuation (1) As at 31 Dec 2020 €719.6m 82% €719.6m €974.9m +35.5% since 31 Dec 2020 Retail France Occupancy 13% 13% 95
Slide 7: Portfolio Overview
Portfolio Overview Il ∙lumina 7
Slide 8: Quality Assets Across Europe
Quality Assets Across Europe Germany Berlin Campus Bonn Campus Darmstadt Campus Münster Campus Concor Park Spain Delta Nova IV Delta Nova VI Il∙lumina Sant Cugat Green Parc Cugat France (1) Cergy Châteauroux Evreux Mâcon Laval (1) Selected retail properties in France are shown 8
Slide 9: Portfolio Overview
Portfolio Overview Diversified Portfolio Across Key Developed Markets in Europe Overall Portfolio Germany Properties 37 Properties 5 Lettable Area (sqm) 384,282 Lettable Area (sqm) 201,103 Valuation (€ m) (1) 974.9 Valuation (€ m) (1) 684.3 Occupancy (%) 95.7% % of Portfolio 70.2% WALE (years) (2) 3
Slide 10: Independent Portfolio Valuation
Independent Portfolio Valuation Independent Valuation (€ m) As at 31 Dec 2021 As at 31 Dec 2020 Variance (%) German Portfolio 684.3 587.9 16.4 Berlin Campus 323.2 226.1 42.9 Bonn Campus 121.8 113.7 7.1 Darmstadt Campus 71.5 90.4 -21.0 (1) Münster Campus 69.9 64.4 8.5 Concor Park 97.9 93.3 4.9 Spanis
Slide 11: Portfolio Lease Profile
Portfolio Lease Profile Well Staggered Lease Expiry Profile with a Blue-Chip Tenant Base Key Tenants (1) Lease Break and Expiry Profile (1) Weighted Average Lease Expiry: 3.8 years 25.1% 31.8% 31.5% 25.5% 26.2% 23.2% 21.3% 21.4% 18.1% 18.6% 2.7% 4.1% 5.5% 2.5% 3.1% 3.1% 14.6% 21.7% GMG - Deutsche Te
Slide 12: FY2021 Financial Highlights
FY2021 Financial Highlights Bonn Campus 12
Slide 13: Key Highlights
Key Highlights ▪ FY2021 net property income increased by 29.1% YoY to €42.5m. ✓ Due mainly to the full-year consolidation of the operating results of the initial Spanish portfolio, as well as acquisition of the French Portfolio and Parc Cugat. Results ▪ Income available for distribution up 25.3% YoY
Slide 14: Operating & Financial Performance
Operating & Financial Performance (€ ‘000) FY2021 FY2020 Variance (%) Gross Revenue 52,167 37,821 37.9 Property Operating Expenses (9,685) (4,927) 96.6 Net Property Income 42,482 32,894 29.1 Income Available for Distribution 34,386 27,434 25.3 Income to be Distributed to Unitholders 30,947 24,691 25
Slide 15: Distribution Per Unit
Distribution Per Unit Distribution Per Unit FY2021 FY2020 Variance (%) Before Retention - € cents 3.26 2.94 10.9 After Retention - € cents 2.93 2.64 11.0 ▪ In FY2021, IREIT issued 11,372,868 new Units at the issue price of S$0.6155 per Unit (the “Placement Units) in Jun 2021 and 201,137,870 new Unit
Slide 16: Financial Position
Financial Position (€ ‘000) As at 31 Dec 2021 As at 31 Dec 2020 Variance (%) Investment Properties 974,870 719,580 35.5 Total Assets 1,035,499 769,029 34.7 Borrowings 328,922 264,628 24.3 Total Liabilities 416,053 327,286 27.1 Net Assets Attributable to Unitholders 619,446 441,743 40.2 NAV per Unit
Slide 17: Capital and Currency Management
Capital and Currency Management As at 31 Dec 2021 As at 31 Dec 2020 Debt Maturity Profile (€ m) Gross Borrowings €281.3m 332.7 267.7 Outstanding (€’m) Aggregate Leverage (1) 32.1% 34.8% Effective Interest Rate per 1.8% 1.8% Annum (2) Interest Coverage Ratio (1) 7.7x 7.4x €51.4m Weighted Average Debt
Slide 18: Looking Ahead
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Slide 19: Looking Ahead
Looking Ahead ▪ Office letting activity across the key European cities in 2021 has increased significantly compared to the prior year, with 2H2021 showing signs of normalisation in take-up. ▪ Coupled with the economic recovery and favourable financing conditions, investor demand for commercial real
Slide 20: Thank You
Thank You For enquiries, please contact: Mr Kevin Tan Head of Investor Relations and Capital Markets Tel: (65) 6718 0593 Email: [email protected] Sant Cugat Green 20