Hyprop Investments Limited · JSE:HYP
Hyprop Investments — H1 2021 Earnings Presentation
69 slides from Hyprop Investments's earnings presentation, February 2021
Slide 1: Interim Results Presentation
The Glen Food Court Interim Results Presentation for the six months ended 31 December 2020
Slide 2: Agenda
Hyprop Interim Results Presentation 2021 2 Agenda Headlines and Key Metrics Sofia Food Court South Africa Eastern Europe Sub-Saharan Africa Financial Results In Closing
Slide 3: Headlines
Hyprop Interim Results Presentation 2021 3 Headlines Positive progress implementing strategy GROUP SOUTH AFRICA EASTERN EUROPE SUB-SAHARAN AFRICA NON-TANGIBLE ASSETS • Strengthened • Property valuation • Property valuation • Progress with disposal of • JV with EmpiriQ partnerships in decreased by 1.
Slide 4: Key Metrics – Group
Hyprop Interim Results Presentation 2021 4 Key Metrics – Group Change in distributable income (R’m) Interest cover ratio (ICR) Direct Covid-19 impact R244m 857 Indirect Covid-19 3.78 3.82 Impact R42m (104) 3.41 (19) (8) Cash ICR 2.40 2.57 13 2.25 IFRS ICR (113) (33) (7) (2) (14) 473 (97) December 20
Slide 5: Key Metrics – Group
Hyprop Interim Results Presentation 2021 5 Key Metrics – Group Hard currency guaranteed debt (R’m) IFRS NAV per share (R) 450 400 350 362 362 362 300 250 91.07 200 16.4% 2.1% 150 289 76.09 74.48 100 117 100% 66.91 50 0 0 June 2019 June 2020 February 2021 December June December Fully 2019 2020 2020 d
Slide 6: South Africa
Hyprop Interim Results Presentation 2021 6 South Africa Hyde Park Corner The Glen 99% 77% 59% Investment property Distributable income Total GLA South Africa Eastern Europe Sub-Saharan Africa
Slide 7: South African Trading Overview
Hyprop Interim Results Presentation 2021 7 South African Trading Overview Daily Foot Count (thousands) and spend per head (R / person) Trading density (R / m2) 600 350 4 500 500 300 7.4% 250 3 800 400 5.9% 200 300 0.7% 14.1% 3 100 18.7% 34.9% 16.0% 13.0% 9.0% 0.7% 150 3.3% 10.1% 200 100 2 400 100 50
Slide 8: Repositioning with the Times
Hyprop Interim Results Presentation 2021 8 Repositioning with the Times Other initiatives • SOKO District • Pargo • Parkupp • Self-Storage • Wi-Fi Checkers/Starbucks, Rosebank Mall Adapting tenant mix based on demographic study • Tshepo Jeans Tshepo Jeans, Hyde Park Corner • Checkers • Starbucks • Z
Slide 9: Tenants – South Africa
Hyprop Interim Results Presentation 2021 9 Tenants – South Africa [Hyde Park Corner] [Hyde Park Corner] [Hyde Park Corner] [Somerset Mall] [Somerset Mall] [Canal Walk] [Canal Walk] [Canal Walk] [Woodlands] [Woodlands] [Woodlands] [The Glen]
Slide 10: Centres with the future in mind
Hyprop Interim Results Presentation 2021 10 Centres with the future in mind Solar - Rosebank Mall Solar • 17 092 solar panels installed • 14 522 076 kWh hours generated • 12.9% annual kWh saving • Eskom savings Solar - The Glen - 20 621 kl water saved - 8 132 tons of coal saved • 14 975 annual CO2 e
Slide 11: Eastern Europe
Hyprop Interim Results Presentation 2021 11 Eastern Europe The Mall, Sofia 30% 17% 4% Investment property Distributable income Total GLA South Africa Eastern Europe Sub-Saharan Africa
Slide 12: Eastern Europe Trading Overview
Hyprop Interim Results Presentation 2021 12 Eastern Europe Trading Overview Daily Foot Count (thousands) and spend per head (€ / person) Trading density (€ / m2) 300 25 500 Thousands 450 250 20 400 22.3% 200 15 350 16.2% 26.3% 150 300 42.9% 13.1% 8.0% 31.2% 16.6% 0.4% 49.0% 16.1% 10 250 100 6.7% 200
Slide 13: Europe Valuations Bridge (€'m)
Hyprop Interim Results Presentation 2021 13 Europe Valuations Bridge (€’m) 4.4% (35.6) 900.0 850.0 804.0 6.4% 3.5% 4.7% 800.0 4.4% 4.4% (8.2) (2.7) 3.2% (4.5) 768.4 (8.2) (6.8) (5.2) 750.0 700.0 650.0 600.0 Increase Decrease
Slide 14: The Mall, Sofia - Food Court Renovation
Hyprop Interim Results Presentation 2021 14 The Mall, Sofia - Food Court Renovation March 2020 BEFORE
Slide 15: The Mall, Sofia - Food Court Renovation
Hyprop Interim Results Presentation 2021 15 The Mall, Sofia - Food Court Renovation July 2020 | Upgrade €1.1m | 400 seats increased seating area AFTER
Slide 16: Skopje City Mall Redevelopment
Hyprop Interim Results Presentation 2021 16 Skopje City Mall Redevelopment Terraces Under Construction BEFORE
Slide 17: Skopje City Mall Redevelopment
Hyprop Interim Results Presentation 2021 17 Skopje City Mall Redevelopment Terraces Under Construction | Total value of project spend to date €4m AFTER
Slide 18: Tenants – Eastern Europe
Hyprop Interim Results Presentation 2021 18 Tenants – Eastern Europe [Delta City Podgorica] [The Mall, Sofia] [The Mall, Sofia] [The Mall, Sofia] [The Mall, Sofia] [Delta City Belgrade] [Delta City Belgrade] [Skopje City Mall] [Skopje City Mall] [Skopje City Mall] [Skopje City Mall] [City Center One
Slide 19: Sub-Saharan Africa
Hyprop Interim Results Presentation 2021 19 Sub-Saharan Africa Accra Mall West Hills Mall 11% (3%) 6% Investment property Distributable income Total GLA South Africa Eastern Europe Sub-Saharan Africa
Slide 20: Sub-Saharan Africa Trading Overview
Hyprop Interim Results Presentation 2021 20 Sub-Saharan Africa Trading Overview Foot Count (thousands) Trading density (Cedi / m2) 10,0% 2 100 3 300 9.7% 0,0% 1 900 12.1% -10,0% 1 700 21.1% 2 500 51.5% 29.1% 1.4% 15.2% 15.3% 8.3% 1 500 16.0% 16.4% -20,0% 50.4% 1.4% 9.1% 16.3% -30,0% 1 300 10.9% 15.4
Slide 21: Disposals and Interventions
Hyprop Interim Results Presentation 2021 21 Disposals and Interventions Investment property exposure ($’m) Update since June 2020 $600 $550 • US$ liquidity in Nigeria remains extremely tight $500 • Refinanced US$148m debt for all four properties against the ($52) backdrop of tight liquidity, Covid-1
Slide 22: Hyprop Interim Results Presentation 2021 Checkers/Starbucks, Rosebank Mall, South Africa Woodlands, Gauteng, South Af…
Hyprop Interim Results Presentation 2021 22 Checkers/Starbucks, Rosebank Mall, South Africa Woodlands, Gauteng, South Africa
Slide 23: Distributable Income
Hyprop Interim Results Presentation 2021 23 Distributable Income Change in distributable income (R’m) Direct Covid-19 impact R244m 857 (104) (19) (8) Indirect Covid-19 impact R42m (113) 13 (33) (7) (2) (14) 473 (97) December SA Parking Ikeja Hystead ECL’s Marketing Turnover Additional SSA Rental Dec
Slide 24: Reconciliation of Cash Generated from Operations to Distributable Income
Hyprop Interim Results Presentation 2021 24 Reconciliation of Cash Generated from Operations to Distributable Income 31 December 2020 31 December 2019 R’000 R’000 R’000 R’000 R’000 R’000 R’000 R’000 Cash generated from operations 835 476 624 75 672 911 772 1 005 196 21 305 67 499 1 094 000 Net inter
Slide 25: Hyprop Debt Exposure by Currency (R'm)
Hyprop Interim Results Presentation 2021 25 Hyprop Debt Exposure by Currency (R’m) 16000 13 971 57.9% 7.2% 14000 12 506 3 351 12000 24% 1 169 6.3% 9% 10000 5 734 8000 46% 6 121 44% 6000 13.9% 38.4% 4000 5 603 4 499 45% 2000 32% (625) 1 729 (1 940) (242) (387) 0 30 June 2020 SA debt SA debt raised US
Slide 26: Change in LTV and Sensitivity
Hyprop Interim Results Presentation 2021 26 Change in LTV and Sensitivity Movement in Hyprop LTV from June 2020 to December 2020 (%) Forward looking Hyprop LTV (%) 45.0% 45.0% 0.6% 0.1% 40.0% 40.0% 41.4% (1.5%) (1.0%) (0.8%) 38.8% 38.8% 35.0% (1.8%) 35.0% (2.1%) 30.0% 30.0% (3.8%) 31.0% 25.0% 25.0%
Slide 27: Debt Maturity Profile
Hyprop Interim Results Presentation 2021 27 Debt Maturity Profile Rand Equivalent (R’m) (February 2021) 7000 6000 500 5000 4 622 4000 3000 3 378 200 2 946 2000 1 475 900 1000 100 831 1 425 317 1 050 950 959 348 877 450 452 0 Q1: Q2: Q3: Q4: Q1: Q2: Q3: Q4: Q1: Q2: Q3: Q4: Q1: Q2: Q3: Q4: Q1: Q2: 202
Slide 28: Hyprop Interim Results Presentation 2021 Checkers, Rosebank Mall, South Africa Accra Mall, Accra, Ghana
Hyprop Interim Results Presentation 2021 28 Checkers, Rosebank Mall, South Africa Accra Mall, Accra, Ghana
Slide 29: Purpose and Priorities
Hyprop Interim Results Presentation 2021 29 Purpose and Priorities Purpose How do we plan to do it? We create safe environments and By owning and managing dominant retail opportunities for people to connect and have centres in mixed-use precincts in key economic authentic and meaningful experiences.
Slide 30: Hyprop Interim Results Presentation 2021 Rosebank Mall, Gauteng, South Africa
Hyprop Interim Results Presentation 2021 30 Rosebank Mall, Gauteng, South Africa
Slide 31: Hyprop Interim Results Presentation 2021 The Mall, Sofia Bulgaria Canal Walk, Cape Town, South
Hyprop Interim Results Presentation 2021 31 The Mall, Sofia Bulgaria Canal Walk, Cape Town, South Africa
Slide 32: South African Properties
Hyprop Interim Results Presentation 2021 32 South African Properties Canal Walk and Portfolio summary Canal Walk Offices Clearwater The Glen Woodlands CapeGate % Ownership 80% 100% 75.15% 100% 100% GLA 158 581 87 033 80 089 71 821 64 238 Vacancy levels 4.7% 1.6% 4.6% 2.7% 0.5% Total foot count (6 mo
Slide 33: South African Properties
Hyprop Interim Results Presentation 2021 33 South African Properties Somerset Rosebank Hyde Park Corner Atterbury Portfolio summary Mall Precinct and Offices Value Mart % Ownership 100% 100% 100% 100% GLA 68 967 91 997 38 837 48 631 Vacancy levels 0.0% 9.2% 11.1% 0.3% Total foot count (6 months) 4.4
Slide 34: Disposal of Atterbury Value Mart
Hyprop Interim Results Presentation 2021 34 Disposal of Atterbury Value Mart • Aggregate purchase consideration of R1.12 billion (4.5% discount to 30 June 2020 valuation) • Cash portion of proceeds R1.06 billion • Vendor loan of R66 million (6% of total) for one of the three buyers: - Repayable over
Slide 35: Top 10 Tenant Groups Top 10 Retail Tenants
Hyprop Interim Results Presentation 2021 35 Top 10 Tenant Groups by GLA and Income – South Africa at 31 December 2020 % of Total GLA 10% 8% 7.5% 7.5% 7.0% 7.0% 7.0% 6% 5.7% 5.6% 5.6% 5.0% 3.9% 3.7% 3.6% 3.6% 4% 3.1% 3.0% 2.5% 2.5% 2.5% 2.1% 2% 0.2% 0% Woolworths Pick 'n Pay Massmart Foschini Mr Pric
Slide 36: Operations – South Africa (6 months)
Hyprop Interim Results Presentation 2021 36 Operations – South Africa (6 months) Trading density (R / m2 / month) Rent ratio – portfolio (%) 0.7% 0.6% 12.1% 0.1% 0.2% 10.6% 10.7% 0.7% 10.1% 7.4% 9.2% 9.4% 3 119 10.9% 2 890 2 507 2019 2020 2020 2019 2020 2020 December June December December June Dece
Slide 37: Operations – South Africa 6 months
Hyprop Interim Results Presentation 2021 37 Operations – South Africa 6 months ending 31 December 2020 Turnover (R’m) Rent ratio (%) 20% 7 000 18% 6 000 16% 5 000 14% 1.1% 0.8% 12% 4 000 0.7% 1.0% 0.9% 1.1% 10% 0.2% 0.8% 3 000 15.4% 8% 0.6% 6% 2 000 11.0% 13.1% 7.3% 9.7% 0% 21.3% 11.3% 4% 1 000 20.5
Slide 38: Operations – South Africa 12 months
Hyprop Interim Results Presentation 2021 38 Operations – South Africa 12 months ending 31 December 2020 Turnover (R’m) Rent ratio (%) 20% 7 000 18% 6 000 16% 5 000 22.7% 14% 1.3% 0.4% 12% 0.7% 1.1% 4 000 1.2% 0.5% 10% 0.3% 0.7% 0.3% 3 000 17.8% 8% 21.2% 11.7% 2 000 4.3% 16.1% 6% 0% 24.2% 26.6% 4% 1
Slide 39: Leasing Activity – South Africa
Hyprop Interim Results Presentation 2021 39 Leasing Activity – South Africa Retail vacancy Lease expiry profile 4% FY 3.0% 2025+ 18.4% 3% 2024/2025 19.7% 2.4% 2023/2024 12.3% 2% 1.9% 1.6% 1.7% 2022/2023 17.1% 2021/2022 13.4% 1% 0.7% 0.8% Current 15.2% Vacancy 3.9% 0% Jun 2016 Jun 2017 Jun 2018 Jun 2
Slide 40: SA Current Projects
Hyprop Interim Results Presentation 2021 40 SA Current Projects Mall Project Program date Budget Yield Status R77m (Cost to completion 6 Malls across Gauteng • Install Solar PV May 2020 21% Complete R56m, excl. Clearwater Mall) R50m Woodlands, Pretoria • Checkers FreshX and STAX May 2021 (Anticipate
Slide 41: Trading Performance South African Portfolio
Hyprop Interim Results Presentation 2021 41 Trading Performance South African Portfolio % of reported Primary category Trading density growth Total turnover GLA Department Stores: Clicks, Dis-Chem, Edgars, Game, Woolworths (9.8%) 25.6% 24.2% Apparel (8.9%) 19.0% 21.3% Food (2.3%) 13.0% 11.9% Special
Slide 42: SA Valuations Bridge (R'm)
Hyprop Interim Results Presentation 2021 42 SA Valuations Bridge (R’m) 1.1% (283) 0.7% 48 1.5% 24 666 1.1% 3.0% (49) (34) 3.6% (57) 5.4% 1.5% (58) 30 4.7% 0.8% 24 383 (88) (53) (22) Rosebank Precinct: Rosebank Mall, 17 Baker Street, The Mall offices and Cradock Heights Increase Decrease
Slide 43: Clur Trading Performance - South African Portfolio
Hyprop Interim Results Presentation 2021 43 Clur Trading Performance as at 31 December 2020 - South African Portfolio* 50 000 10,0% 45 000 41 130 40 000 5,0% 36 002 34 393 34 988 35 000 32 309 31 949 31 391 30 536 30 453 30 180 30 000 27 813 0,0% 26 890 25 000 20 000 -5,0% 15 000 10 000 -10,0% 5 000
Slide 44: Eastern European Properties
Hyprop Interim Results Presentation 2021 44 Eastern European Properties Delta City Delta City Skopje City Mall The Mall City Center City Center Belgrade Podgorica Skopje, North Sofia One East One West Portfolio summary Serbia Montenegro Macedonia Bulgaria Zagreb Croatia Zagreb Croatia % Ownership 60
Slide 45: The Mall, Sofia Redevelopment
Hyprop Interim Results Presentation 2021 45 The Mall, Sofia Redevelopment Redevelopment of Food Court Level • Refurbishment and renovation of the common areas increasing the seating spaces from 707 to 1070; • Introduction of a new modern restaurant concept flagship – RAFFY; • Renovation of the cinem
Slide 46: Skopje City Mall Redevelopment
Hyprop Interim Results Presentation 2021 46 Skopje City Mall Redevelopment Total investment at Skopje City Mall: €4m • Upgrading the mall tenant mix (re-positioning existing and introducing new mid and upscale brands) - New mid-high segment brands not previously offered now added • Replacing mall en
Slide 47: Top 10 Tenant Groups by GLA – Eastern Europe
Hyprop Interim Results Presentation 2021 47 Top 10 Tenant Groups by GLA – Eastern Europe at 31 December 2020 % of Total GLA 12% 10.0%10.0% 10% 8% 6% 5.7% 5.6% 4.5% 4.4% 4.2% 4.2% 3.9% 3.9% 4% 2.5% 2.7% 2.6% 2.6% 2.1% 2.2% 2.1% 2.0% 1.8% 1.8% 2% 0% Inditex Interspar Peek & Cineplexx H&M Fashion C&A S
Slide 48: Operations – Eastern Europe (6 months)
Hyprop Interim Results Presentation 2021 48 Operations – Eastern Europe (6 months) Trading density (€ / m2 / month) Effort ratio – portfolio (%) 400 16% 0.1% 12% 0.6% 0.1% 300 1.4% 11.8% 10.9% 8% 10.2% 277 18.3% 200 21.5% 226 4% 189 100 0% 2019 2020 2020 2019 2020 2020 December June December Decembe
Slide 49: Operations – Eastern Europe 6 months
Hyprop Interim Results Presentation 2021 49 Operations – Eastern Europe 6 months ending 31 December 2020 Turnover (€’m) Effort ratio (%) 170 18% 16% 1.4% 130 14% 1.3% 12% 0.6% 90 0.7% 1.0% 10% 0.5% 16.4% 15.9% 9.8% 24.0% 8% 50 40.3% 28.9% 6% 10 4% City Centre City Centre Skopje City Delta City The M
Slide 50: Operations – Eastern Europe 12 months
Hyprop Interim Results Presentation 2021 50 Operations – Eastern Europe 12 months ending 31 December 2020 Turnover (€’m) Effort ratio (%) 170 18% 16% 1.2% 130 20.9% 21.0% 14% 0.6% 12% 0.4% 90 25.8% 0.3% 0.7% 0.6% 24.1% 10% 37.0% 32.2% 8% 50 6% 10 4% City Center City Center Delta City Skopje City The
Slide 51: Leasing Activity – Eastern Europe
Hyprop Interim Results Presentation 2021 51 Leasing Activity – Eastern Europe Retail vacancy Lease expiry profile 2% FY 2024+ 47.9% 1.3% 2023/2024 11.9% 1.0% 1% 2022/2023 16.1% 0.5% 0.4% 2021/2022 12.5% 0.3% 0.2% 0.1% 2020/2021 11.7% 0% Jun 2016 Jun 2017 Jun 2018 Jun 2019 Feb 2020 Jun 2020 Dec 2020
Slide 52: EE Current and Future Projects
Hyprop Interim Results Presentation 2021 52 EE Current and Future Projects Future Mall Project Program date Budget Yield Status Delta City Podgorica • Mall extension and TBC TBC TBC Await approval Montenegro constructing additional parking of the (approximately 7 500m² GLA) development rights City C
Slide 53: Macroeconomic and Retail Environment
Hyprop Interim Results Presentation 2021 53 Macroeconomic and Retail Environment Real GDP - % change y/y CPI - % change y/y 15 4 10 3 5 2 -5 1 - 10 - 15 Bulgaria Croatia Montenegro North Serbia Eurozone Europe Bulgaria Croatia Montenegro North Serbia Europe Eurozone European Macedonia Macedonia Unio
Slide 54: Hystead Group – Pro-forma Financial Information
Hyprop Interim Results Presentation 2021 54 Hystead Group – Pro-forma Financial Information Financial Position Comprehensive Income 31 Dec 2020 31 Dec 2019 31 Dec 2020 31 Dec 2019 31 Dec 2020 31 Dec 2019 31 Dec 2020 31 Dec 2019 €’000 €’000 R’000 R’000 €’000 €’000 R’000 R’000 Non-current assets 775 5
Slide 55: Lockdown and Vaccine
Hyprop Interim Results Presentation 2021 55 Lockdown and Vaccine Bulgaria North Macedonia Montenegro • 2nd lockdown – 28 November 2020 • 2nd lockdown – Restaurants to trade till 18:00 in • 2nd lockdown – trading hours limited till 20:00 • Non-essential stores closed December and 21:00 from January 2
Slide 56: Sub-Saharan Africa Properties
Hyprop Interim Results Presentation 2021 56 Sub-Saharan Africa Properties Portfolio summary Ikeja City Mall Accra Mall West Hills Mall Kumasi Hyprop’s effective ownership 75.0% 23.5% 29.4% 49.0% GLA 22 223 21 311 28 272 18 389 Vacancy levels 0% 4.8% 27.4% 8.2% Total foot count (6 months) 3.4m 2.9m 2
Slide 57: S-SA Operations (6 months)
Hyprop Interim Results Presentation 2021 57 S-SA Operations (6 months) Trading density ($ / m2 / month) Trading density (Cedi / m2 / month) 250 1600 1400 9.1% 3.4% 4.7% 1200 8.5% 200 13.0% 2.2% 207 1 217 201 1000 1 115 185 1 051 800 150 600 400 100 200 2019 2020 2020 2019 2020 2020 December June Dec
Slide 58: S-SA Operations (6 months)
Hyprop Interim Results Presentation 2021 58 S-SA Operations (6 months) Spend per head (Cedi / m2 / Person) Average foot count (millions) 35 4 11.2% 2.6% 30 3 1.6% 30.5 29.5 1.0% 13.3% 25 27.4 2 19.6% 2.3 2.0 1.8 20 1 15 0 2019 2020 2020 2019 2020 2020 December June December December June December [6
Slide 59: Operations – Sub-Saharan Africa
Hyprop Interim Results Presentation 2021 59 Operations – Sub-Saharan Africa 12 months ending 31 December 2020 Turnover ($m) Turnover (Cedi ‘m) 80 400 60 300 16.9% 22.6% 40 200 0.5% 2.4% 5.1% 7.9% 20 100 0 0 Accra Kumasi West Hills Accra Kumasi West Hills Trading density ($ / m2) Trading density (Ced
Slide 60: Currency and Interest Rate Analysis – Sub-Saharan Africa
Hyprop Interim Results Presentation 2021 60 Currency and Interest Rate Analysis – Sub-Saharan Africa Cedi rental – June 2012 to June 2020 Cedi / USD 450,00 6,5 6 358.54 350,00 5,5 327.12 284.60 5 250,00 245.66 258.18 225.96 4,5 165.20 4 150,00 109.16 3,5 100.00 50,00 3 Naira / USD 1 Month LIBOR Rate
Slide 61: Segmental Performance
Hyprop Interim Results Presentation 2021 61 Segmental Performance 31 Dec 2020 31 Dec 2019 31 Dec 2020 31 Dec 2019 31 Dec 2020 31 Dec 2019 R’000 R’000 R’000 R’000 R’000 R’000 Revenue 1 179 763 1 483 450 111 282 110 648 Contractual and other revenue 1 388 512 1 542 050 120 227 113 684 Straight-line re
Slide 62: LTV Calculations
Hyprop Interim Results Presentation 2021 62 LTV Calculations 31 December 2020 (R’000) 30 June 2020 (R’000) 31 December 2019 (R’000) HYPROP LTV SA REIT LTV HYPROP LTV SA REIT LTV HYPROP LTV SA REIT LTV Hyprop total asset 27 682 237 27 682 237 28 959 704 28 959 704 31 232 315 31 232 315 Less: Financia
Slide 63: Bank and DCM Debt Profile
Hyprop Interim Results Presentation 2021 63 Bank and DCM Debt Profile as at February 2021 Standard Bank Group ZAR bank facilities On balance sheet 45.4% 41.7% On balance sheet 45.4% 41.7% debt by lender RMB by currency USD bank facilities DCM ZAR DCM 12.9% 12.9% 22.5% 20.7% 27.7% Standard Bank Group
Slide 64: Debt Maturity Profile
Hyprop Interim Results Presentation 2021 64 Debt Maturity Profile – as at February 2021 South African Debt (ZAR’m) 2000 Dec 2020 Dec 2019 1500 500 1 425 Property value (Rbn) 24.4bn 27.6bn 200 1 050 LTV 23.7% 15.7% 1000 950 959 Weighted average cost of debt 8.1% 9.3% 450 452 (incl. hedges) 500 317 34
Slide 65: Investment Property and Capital Expenditure
Hyprop Interim Results Presentation 2021 65 Investment Property and Capital Expenditure 31 December 2020 30 June 2020 South Africa R26.7bn (59%) R27.0bn (56%) Hyprop share R24.4bn R24.7bn Exit cap rate range 6.75% - 9.0% 6.8% - 9.0% Weighted average exit cap rate 7.4% 7.4% 11% Implied forward yield
Slide 66: Equity Bridge – Hyprop Group (R'm)
Hyprop Interim Results Presentation 2021 66 Equity Bridge – Hyprop Group (R’m) 20 000 431 19 800 19 600 19 346 (295) 19 400 (55) 56 19 200 4 (239) (165) (15) 18 937 19 000 (131) 18 600 18 400 18 200 18 000 NAV Net Property Africa Revaluation Other Distributions Non-controlling Tax FCTR NAV June 2020
Slide 67: Disclaimer Forward Looking Statements
Hyprop Interim Results Presentation 2021 67 Disclaimer Forward Looking Statements • This document contains forward looking statements that, unless otherwise indicated, reflect the Group’s expectations as at 31 December 2020. • Actual results may differ materially from the Group’s expectations if kno
Slide 68: Clur Disclaimer
Hyprop Interim Hyprop InterimResults ResultsPresentation Presentation2021 2021 68 Clur Disclaimer The Clur Report of SA Retail Property, a widely used asset management support and benchmarking platform tracking performance and trends, covers over 3.3 million square metres of prime retail space acros
Slide 69: Investor Relations
Investor Relations Lizelle du Toit c. +27 82 465 1244 | e. [email protected]