Adler Group Sa · XETR:ADJ
Adler Group Sa — ADO Properties — Q1 2019 Earnings Presentation
18 slides from Adler Group Sa's earnings presentation, May 22, 2019
Slide 1: Financial Results
ADO Three-Month Financial Report 2019 FINANCIAL RESULTS May 22, 2019
Slide 2: Overview & Investment Highlights
OVERVIEW & INVESTMENT HIGHLIGHTS 1
Slide 3: ADO – The Pure Play Berlin Residential Specialist
ADO – THE PURE PLAY BERLIN RESIDENTIAL SPECIALIST Investment highlights A focused residential portfolio(2,3)… 1 Berlin residential pure play with a EUR 4.1bn quality portfolio Residential 84% Efficient, fully integrated and scalable platform with a clear strategy to create value. 2 This unique platf
Slide 4: Highlights Q1 2019
HIGHLIGHTS Q1 2019 Financials Q1 2019 2018 • Strong growth continues with an increase of 14% for income from rental activities compared to Q1 2018 Income from rental activities EUR 35.7m EUR 134.6m EBITDA from rental activities EUR 23.9m EUR 93.8m • Like-for-like rental growth of 5.3% slightly ahead
Slide 5: ADO Portfolio & Strategy
ADO PORTFOLIO & STRATEGY ah 12) m2=m FINO Near N) |
Slide 6: Balanced, High-Quality Portfolio Focused on Berlin
BALANCED, HIGH-QUALITY PORTFOLIO FOCUSED ON BERLIN High-quality turn-of-the-century buildings… …with attractive rents... …and a low number of remaining restrictions 35% 28% 657 658 # of units to be released from 26% rent restrictions 28% 19% 13% 11% 9% 8% 207 6% 116 7% 7% 80 4% 54 23 31 11 1919- 195
Slide 7: Strong Like-for-Like Growth and Stable Vacancies
STRONG LIKE-FOR-LIKE GROWTH AND STABLE VACANCIES Very strong l-f-l result of 5.3% in Q1 2019 Vacancy split 5.3% / 4.8% 5.6% 5.3 %* 3.5% 0.2% 0.6% 0.2% Guidance 5.0% 0.2% 3.0% 0.2% 0.2% 0.2% 2.5% 2.7% 2.4% 2.9% 2.0% 2.0% 2.1% 2.2% 2.1% Fluctuation w/o CAPEX 1.5% 0.2% Unit CAPEX 1.0% 0.3% Vacancy chan
Slide 8: Privatization Activities Continue
PRIVATIZATION ACTIVITIES CONTINUE Sales profit – avg. sales price vs. portfolio value (*) Q1 2019 • 17 units sold during Q1 2019 for gross proceeds of EUR 4.3m, generating 36% value uplift compared to average fair value of Central Locations +36% • As we expect further price increases for condominium
Slide 9: Financial Overview
FINANCIAL OVERVIEW 3
Slide 10: Overview of Balance Sheet
OVERVIEW OF BALANCE SHEET In EUR m Mar 31, 2019 Dec 31, 2018 Comments (Unaudited) (Audited) 1 The portfolio value of EUR 4,099m as March 31, 2019 includes Investment properties 4,061 4,050 1 investment properties (EUR 4,054m) and trading properties (EUR 45m Other non-current assets 22 16 fair value/
Slide 11: Solid Balance Sheet with Fixed Rate Financing
SOLID BALANCE SHEET WITH FIXED RATE FINANCING Key financing figures Diversified permanent profile with weighted average debt maturity of approximately 4.4 years • Long-term debt of EUR 1,606m, almost completely fixed or hedged from diversified funding sources 1.7% • Diversified funding sources with
Slide 12: Overview of Profit and Loss
OVERVIEW OF PROFIT AND LOSS In EUR m Q1 2019 Q1 2018 Year 2018 Comments Net rental income 33.7 29.8 128.0 1 Income from rental activities increased by 14% and is driven by l-f-l Income from facility services 2.0 1.5 6.6 rental growth of 5.3%. Q1 reflects an annualized income from rental Income from
Slide 13: Overview of FFO
OVERVIEW OF FFO In EUR m Q1 2019 Q1 2018 Year 2018 Comments EBITDA from rental activities 23.9 22.5 93.8 1 1 EBITDA from rental activities increased by 6% due to our strong 5.3% Net cash interest (6.7) (6.4) (25.4) like-for-like rental growth. Q1 reflects an annualized EBITDA of EUR 95m Current inco
Slide 14: Guidance 2019
GUIDANCE 2019 1 We anticipate like-for-like rental growth going forward at approximately 5%. This should positively impact portfolio value, EPRA NAV and EPRA NAV per share 2 We expect our FFO 1 run rate to be approximately EUR 65m 3 Average cost of long-term debt of 1.7% with an LTV target of maximu
Slide 15: Financial Calendar
FINANCIAL CALENDAR 4
Slide 16: Financial Calendar 19
Financial Calendar19 June 19, 2019 June 20, 2019 Ex- Annual Dividend General Date Meeting August 14, 2019 November 13, 2019 Publication Publication Half-Year Nine-Month Financial Report Financial Report (Q2 2019) (Q3 2019)
Slide 17: First-Class References
First-Class References Alte Schönhauser Str. Badensche Str. 32 Mitte Wilmersdorf Berliner Str. Buddestraße Prenzlauer Berg Reinickendorf ADO Three-Month Financial Report 2019 17
Slide 18: COLORS
COLORS Si ADO peers Three-Month 4 eS lg) | . Financial Report ‘www.ado.properties TSP TP a dl