Home Invest Belgium SA · EURONEXT:HOMI
Home Invest Belgium SA — FY2024 Earnings Presentation
37 slides from Home Invest Belgium SA's earnings presentation, February 2025
Slide 1: Company presentation 31 December 2024
COMPANY PRESENTATION 31 DECEMBER 2024 1
Slide 2: Landlord of choice
Landlord of choice We offer more than just a place to live. We provide our tenants with a place to build their lives in properties that shape vibrant communities. It is our explicit ambition to be the “landlord of choice” for tenants. Company presentation 31 Dec 2024 2
Slide 3: Topics
Topics 1. Company profile 2. Real estate portfolio 31 Dec 2024 3. Key activities FY 2024 4. Financial results FY 2024 5. HOMI share 6. Outlook Company presentation 31 Dec 2024 3
Slide 4: Company profile
Company profile Company presentation 31 Dec 2024
Slide 5: Home Invest Belgium at a glance
Home Invest Belgium at a glance Listed Belgian REIT € 347 mio market capitalisation as on 31 Dec 2024 • Number 1 owner and manager of residential properties in Belgium Group Van • Listed on Euronext Brussels since 1999 Overstraeten 30,3% • A specialist with 25+ years of experience… • … and 25+ years
Slide 6: Home Invest Belgium at a glance
Home Invest Belgium at a glance • Biggest sector within the real estate market with a need for professionalization • Limited impact from business cycles on the letting market Residential real estate • Limited impact from disruption • Responds to the primary human need for housing • In-house team of
Slide 7: Real estate portfolio Dec 2024
Real estate portfolio 31 Dec 2024 Company presentation 31 Dec 2024
Slide 8: Strong growth track
Strong growth track € 882 mio portfolio value Evolution of the fair value of the real estate portfolio € 1000m € 900m € 800m € 700m € 600m € 500m € 400m € 300m € 200m € 100m € 0m 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2020 2021 2022 2023 2
Slide 9: Specialist in residential real estate
Specialist in residential real estate >90% of the porfolio is residential real estate Company presentation 31 Dec 2024 9
Slide 10: Located in Belgium (91%) & the Netherlands (9%)
Located in Belgium (91%) & the Netherlands (9%) With a strong presence in the Brussels Capital Region (66% of the portfolio) Company presentation 31 Dec 2024 10
Slide 11: Strong presence in the Brussels Capital Region
Strong presence in the Brussels Capital Region • The biggest tenant market in Belgium • High proportion of tenants vs. owner-occupied • 60% tenants in Brussels • Brussels, the Capital of Europe • compared to 30% outside Brussels • 1.2 mio inhabitants Brussels Belgium (outside Brussels) • Strong popu
Slide 12: Supporting megatrends in housing
Supporting megatrends in housing Demographic changes Urbanisation - Decreasing household sizes - % of Europeans living in cities(1) 90% 84% 85% 80% 77% Demographic changes 74% 75% 70% - Ageing population - 70% The share of 65+ in Belgium’s population will increase 65% from 20% in 2022 to 25% in 2050
Slide 13: Young and sustainable portfolio
Young and sustainable portfolio More than 50% of the portfolio is younger than 10 years. Age of the portfolio Younger than 10 years > 50% of the portfolio Younger than 20 years > 80% of the portfolio Company presentation 31 Dec 2024 13
Slide 14: Compared to an outdated housing stock on the market
Compared to an outdated housing stock on the market Only 7% of the Brussels’ housing stock is younger than 40 years. This means there is a huge need and potential for new housing. Source: JLL Company presentation 31 Dec 2024 14
Slide 15: Strong energy performance of the housing portfolio
Strong energy performance of the housing portfolio Home Invest Belgium housing portfolio STATUS 31-12-2024 • Average primary energy consumption of the housing units in the portfolio: 114 kWh/m²/year TARGET 31-12-2026 • Average primary energy consumption of the housing units in the portfolio: < 100 k
Slide 16: Key activities in FY 2024
Key activities in FY 2024 Company presentation 31 Dec 2024
Slide 17: Delivery of Den Dam - Antwerp
Delivery of Den Dam - Antwerp Den Dam – Antwerp • A new built residentail project with : • 37 housing units • 47 parking spaces • Very energy efficient building : • All housing units have an EPC A label • Estimated average primary energy consumption of 32 kWh/m²/yr • Delivered in March 2024 • Housin
Slide 18: Delivery of City Square - Hasselt
Delivery of City Square - Hasselt City Square – Hasselt • A new built residential project with : • 37 housing units • 37 parking spaces • Very energy efficient building : • All housing units have an EPC A label • Estimated average primary energy consumption of 39 kWh/m²/yr • Delivered in June 2024 •
Slide 19: Progress of development projects
Progress of development projects City Dox (Lot 4) - Anderlecht (Brussels) Jourdan 95 - Sint-Gillis (Brussels) • Part of the City Dox site, a large-scale development • Former office building by Atenor in Anderlecht • Redevelopment into: • The project consists of : • 46 apartments • 163 residential un
Slide 20: Renovation of Charles Woeste – Jette (Brussels)
Renovation of Charles Woeste – Jette (Brussels) Charles Woeste – Jette (Brussels) • Renovation the building Charles Woeste (Jette – Brussels) : • 92 housing units • 30 parking spaces • Building from the 1980s; has been in the portfolio for 25 years • Building vacated • Estimated average primary ener
Slide 21: Development pipeline
Development pipeline Pipeline (with building permit) Name City # housing Delivery date Total cost Remaining CAPEX still to be units (expected) (expected) spent City Dox (Lot 4) Anderlecht (Brussels) 163 Q2 2025 € 62 mio € 15 mio Jourdan 95 Saint-Gilles (Brussels) 46 Q1 2025 € 22 mio € 2 mio Jardin L
Slide 22: € 45 mio disposals in FY 2024
€ 45 mio disposals in FY 2024 Sale of 5 non-strategic buildings in Brussels, Ghent and Liège realised in FY 2024 • Net sales price of € 11.7 mio • Capital gain of € 2.8 mio compared to acquisition price (+32%) • Capital gain of € 2.4 mio compared to fair value at 31-12-2023 (+27%) Sale of City Garde
Slide 23: Letting activities and occupancy rate
Letting activities and occupancy rate Strong letting activities in FY 2024 Lfl (like-for-like) rental growth of 3.3% in FY 2024 (year-on-year). Record high occupancy rate Average occupancy rate(1) up to a record in FY 2024 : Occupancy rate FY 2024 98.2% FY 2023 98.5% FY 2022 98.1% FY 2021 97.2%
Slide 24: Financial results FY 2024
Financial results FY 2024 Company presentation 31 Dec 2024
Slide 25: Key figures
Key figures Consolidated income statement (in € k) FY 2024 FY 2023 Δ Y-o-Y % growth Net rental result 36 351 34 596 1 755 +5.1% Property result 34 013 32 125 1 889 +5.9% (-) Property costs - 3 324 - 3 743 (-) General costs and other operating income -2 773 -3 128 Operating result before result on th
Slide 26: Key figures
Key figures EPRA earnings (in € k) FY 2024 FY 2023 Δ Y-o-Y % growth Net result (group share) 80 973 -14 281 (-) Portfolio result -64 234 23 401 (-) Changes in fair value of financial assets and liabilities 6 344 11 330 (-) Non-EPRA elements of the share in the result of associates and joint ventures
Slide 27: Key figures
Key figures Consolidated balance sheet (in € k) 31/12/2024 31/12/2023 Δ Y-o-Y % growth Total assets 901 070 807 808 93 262 11.5% Shareholders’ equity 484 437 417 761 66 676 16.0% Debt ratio (RECC-Act) (1) 47.19% 50.02% Debt ratio (IFRS) (2) 46.30% 48.83% NAV per share (in €) 31/12/2024 31/12/2023 Δ
Slide 28: Financial structure
Financial structure Debt maturities Comments € 150 m • Financial debt amounts to € 406.0 m - Drawn credit lines : € 350.0 m € 100 m - Bonds : € 49.0 m 8 - Commercial Paper : € 7.0 m 30 15 € 50 m 15 89 77 • Weighted average remaining duration of the financial debt of 4.5 yrs 0 55 40 43 47 40 7 9 • Cr
Slide 29: HOMI share
HOMI share by Company presentation 31 Dec 2024
Slide 30: Key figures per share
Key figures per share Key figures per share 31/12/2024 31/12/2023 31/12/2022 31/12/2021 31/12/2020 31/12/2019 Total number of shares issued (1) 20 202 136 19 708 766 17 917 060 16 499 290 16 499 290 16 499 290 Closing price of the share € 17.16 € 15.50 € 21.80 € 24.40 € 23.10 € 22.80 Market capitali
Slide 31: Key figures per share
Key figures per share Key figures per share FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 FY 2019 Average number of shares (1) 19 888 873 18 701 976 17 106 685 16 442 734 16 440 730 16 440 730 EPRA earnings € 23.16 mio € 21.18 mio € 18.47 mio € 16.28 mio € 14.60 mio € 12.67 mio EPRA earnings per share € 1
Slide 32: Evolution of the share price & gross distribution
Evolution of the share price & gross distribution Evolution of the share price and gross distribution per share € 30,00 € 1,40 € 25,00 € 1,20 € 20,00 € 1,00 € 0,80 € 15,00 € 0,60 € 10,00 € 0,40 € 5,00 € 0,20 € 0,00 € 0,00 Gross distribution per share Share price HOMI Company presentation 31 Dec 2024
Slide 33: Stock price comparison
Stock price comparison Total return sinds 2008 700 600 500 429 400 349 300 241 200 100 - okt 2008 okt 2009 okt 2010 okt 2011 okt 2012 okt 2013 okt 2014 okt 2015 okt 2016 okt 2017 okt 2018 okt 2019 okt 2020 okt 2021 okt 2022 okt 2023 okt 2024 HOMI EPRA Eurozone Index BEL20 Index Company presentation
Slide 34: Outlook
Outlook by Company presentation 31 Dec 2024
Slide 35: Outlook
Outlook Strong residential rental market and good operating figures in FY 2024 • Strong residential letting market with strong demand for qualitative housing has resulted in a record occupancy rate of 98.2% and lfl rental growth of 3.3%. • Increase in operating margin to 76.8%. • Further increase in
Slide 36: Outlook
Outlook EPRA earnings per share • For FY 2025 the company expects EPRA earnings per share of € 1.16 (i.e. at least flat compared to FY 2024). Distribution to the shareholders • The board of directors proposes an increase of the gross distribution to the shareholders to € 1.14 per share. This implies
Slide 37: EPRA BPR Gold award
Home Invest Belgium has received an “EPRA BPR Gold award” for is Annual Financial Report 2023 Company presentation 31 Dec 2024 37