Wereldhave N.v. · EURONEXT:WHA
Wereldhave — Q1 2014 Earnings Presentation
9 slides from Wereldhave's earnings presentation, Apr 25, 2014
Slide 1: Update Q1 2014
Update Q1 2014 Schiphol 25 April 2014
Slide 2: Summary
Summary Wereldhave is well on track in achieving its strategic objectives for 2014: Occupancy in the shopping centre portfolio improved slightly to 98.5 %, particularly due to new lettings in the Netherlands, and is above the targeted 98 % Like-for-like rental growth of the retail portfolio is expec
Slide 3: Investment portfolio
Investment portfolio Acquisitions and divestments in the first quarter - Vier Meren shopping centre in Hoofddorp acquired for € 147.5 m on January 31, 2014 - on March 11, 2014 Wereldhave became the sole owner of De Koperwiek shopping centre for a consideration of € 60.1 m - In France the sale of the
Slide 4: Development Portfolio
Development Portfolio Commited Total Capex (net) Capex spend Expected NIY Percentage Completion (in €m) investment so far 2014 prelet Ghent (BEL) 15 15 4 6.5% 90% Q2 2014 Itis (FIN) 102 83 5 7.0% 88% Q4 2014 Issy-Les-Moulineaux (Noda, FR) 138 118 5 7.0% 65% Q4 2014 Genk (BEL) 86 63 8 6.5% 68% Q4 201
Slide 5: Development Portfolio Ghent
Development Portfolio Ghent Opening of an Albert Heijn supermarket in Ghent of 1,100 m² on April 9. A lease for a drugstore will bring pre-leasing to 90 % 5
Slide 6: Development Portfolio Genk
Development Portfolio Genk • In Genk, Belgium Carrefour opened a 6,000 m² supermarket 6
Slide 7: Development Portfolio Helsinki
Development Portfolio Helsinki • Zara agreed in April to sign a lease for a flagship store in Helsinki, which will be their largest shop in Finland 7
Slide 8: Debt profile
Debt profile Key parameters Q1-14 Q4-13 Covenants Interest bearing debt * € 821m € 687m RCF has been renewed until 04-2019 (previously 06-2015): Average cost of debt 2.7% 2.8% o Increased by €30m to €300m Borrowing capacity € 388m € 485m o Decreased commitment fee from 60bps down to 31.5bps Cash pos
Slide 9: Contact details
Contact details Press: Analysts: Richard Beentjes Jaap-Jan Fit [email protected] [email protected] T +31 20 702 78 33 T +31 20 702 78 43 [email protected] www.wereldhave.com 9