PPHE Hotel Group Limited · LSE:PPH
PPHE Hotel — H1 2021 Earnings Presentation
34 slides from PPHE Hotel's earnings presentation, Sep 1, 2021
Slide 1: Interim Results for Six Months Ended 30 June 2021
1 SEP TEMBER 2021 INTERIM R E S U LT S FOR SIX MONTHS E N D E D 3 0 J U N E 2 0 21
Slide 2: Important Notice
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 IMPORTANT NOTICE By attending the meeting where this presentation to correct any inaccuracies in it which may become Australia, Japan, the United States or the Republic of concerning plans, objectives, goals, strategies, future is made, or
Slide 3: Presentation Team and Contents
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 PRESENTATION TEAM CONTENTS 3 Boris Ivesha Daniel Kos Greg Hegarty Robert Henke President & Chief Financial Officer Deputy Chief Executive Officer Executive Vice President Chief Executive Officer & Executive Director & Chief Operating Offic
Slide 4: Continued Decisive Actions Amid the Pandemic
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 CONTINUED DECISIVE ACTIONS AMID THE PANDEMIC Secured quarantine hotel contracts Secured exclusive agreement to host Continued focus on cost to provide for base line occupancy players and support teams of The management during subdued H1 in
Slide 5: Current Trading and Trends
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 CURRENT TR ADING AND TRENDS Domestic leisure is the dominant segment Meeting and events enquiries Corporate demand for September in city centres in the UK at highest level since still subdued, albeit this segment start of pandemic usually
Slide 6: Strong Cash Position of £177.9 Million and Access to Undrawn Facilities
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 STRONG CASH POSITION OF £177.9 MILLION AND ACCESS TO FURTHER UNDR AWN FACILITIES £16.3m £(8.2)m £(2.7)m £(10.6)m £(9.1)m £114.2m £99.9m £69.0m Reported cash Operational cash flow Capex Debt service including leases Proceeds from loans Othe
Slide 7: Strong Balance Sheet in Current Volatile Environment
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 STRONG BAL ANCE SHEET IN CURRENT VOL ATILE ENVIRONMENT EPR A NRV PER SHARE (IN £ ) BA SED ON 2020 EX TERNAL VALUATIONS, NET BANK DEBT LOWERED IN PERIOD DUE TO JOINT VENTURE NEGATIVELY IMPAC TED BY RESULTS AND FOREX TR ANSAC TION LEVER AGE
Slide 8: Pipeline Update and Focus on the Future
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 PIPELINE UPDATE AND FOCUS ON THE FUTURE art’otel london hoxton (opening 2024) art’otel london battersea power station (opening 2022) GROUND UP DEVELOPMENT MANAGEMENT AGREEMENT – 343 ROOMS – 164 ROOMS PR O G R E SSI N G CO N S T RU C T I O
Slide 9: Pipeline Update and Focus on the Future (Continued)
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 PIPELINE UPDATE AND FOCUS ON THE FUTURE (CONTINUED) Hotel Brioni Pula, Croatia (opening 2022) Zagreb project, Croatia (opening 2022/23) REPOSITIONING PROJECT CONVERSION PROJECT – 227 ROOMS – 115 ROOMS Guest House Riviera, Pula, Croatia (20
Slide 10: Long-Term Partnership Unlocking £113.7 Million Cash
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 LONG -TERM PARTNERSHIP UNLOCKING £113.7 MILLION CASH PROCEEDS TO BE JOINT VENTURE £113.7 MILLION USED TO PURSUE ON TWO PRIME EQUITY UNLOCKED NEW GROWTH LONDON ASSETS AT NAV OPPORTUNITIES – Clal Insurance, leading insurance company – Cash p
Slide 11: Supplemental Information
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Slide 12: Well-Positioned to Benefit from Market Recovery
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 WELL-POSITIONED TO BENEFIT FROM MARKET RECOVERY LOCATED KEY CITIES LOCATED IN MARKETS AND RESORT MARKETS FULL VALUE CHAIN FOCUSED ON DOMESTIC THAT HAVE PROVEN TO IN EUROPE AT PRIME APPROACH AND REGIONAL MARKETS REBOUND QUICKLY LOCATIONS MA
Slide 13: Property Details: art'otel london hoxton
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 PROPERTY DETAILS: ART‘OTEL LONDON HOXTON – Construction ongoing, completion date aimed at Q1 2024 – Located in Shoreditch a stone‘s throw away from Old Street Station – 27 floors, including 343 spacious hotel rooms and suites, approximatel
Slide 14: Property Details: Park Plaza London Riverbank
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 PROPERTY DETAILS: PARK PLAZA LONDON RIVERBANK – 646 rooms and suites and some of London‘s largest meeting and event space – Located on the Thames, part of London‘s South Bank and overlooking the Houses of Parliament – Initially 461 rooms b
Slide 15: A Portfolio EPRA NRV
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 A portfolio EPRA NRV geographical breakdown 30 June 2021 Total price £m Market value Riverbank 263.0 £2.65 (12.7%) Cash proceeds A PORTFOLIO per share Market value Hoxton London and remaining development cost 279.3 Geographic breakdown 542
Slide 16: United Kingdom Performance
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 UNITED KINGDOM PERFORMANCE Hotel operations Reported in GBP (£) Six months ended Six months ended UK 30 June 2021 30 June 2020 % change Total revenue £15.3 million £41.8 million (63.4)% EBITDAR £(1.4) million £4.9 million (128.5)% EBITDA £
Slide 17: The Netherlands Performance
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 THE NETHERL ANDS PERFORMANCE Hotel operations Reported in GBP 1 (£) Reported in Local Currency Euro (€) Six months ended Six months ended Six months ended Six months ended The Netherlands 30 June 2021 30 June 2020 % change 30 June 2021 30
Slide 18: Croatia Performance
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 CROATIA PERFORMANCE Operations Reported in GBP 1 (£) Reported in Local Currency HRK Six months ended Six months ended Six months ended Six months ended Croatia 30 June 2021 30 June 2020 % change 30 June 2021 30 June 2020 % change Total rev
Slide 19: Germany, Hungary and Serbia Performance
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 GERMANY, HUNGARY AND SERBIA PERFORMANCE Hotel operations Reported in GBP 1 (£) Reported in Local Currency Euro (€) Six months ended Six months ended Six months ended Six months ended Germany, Hungary and Serbia 30 June 2021 30 June 2020 %
Slide 20: Interim Consolidated Statement of Financial Position
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION 30 June 2021 31 December 2020 Unaudited Audited £’000 £’000 Assets Non-current assets: Intangible assets 15,909 17,754 Property, plant and equipment 1,192,628 1,201,358 Right-of-use asse
Slide 21: Consolidated Statement of Financial Position
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 30 June 2021 30 June 2020 Unaudited Audited £’000 £’000 Equity and liabilities Equity: Issued capital – – Share premium 130,479 131,389 Treasury shares (3,482) (3,482) Foreign currency translati
Slide 22: Consolidated Income Statement
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 CONSOLIDATED INCOME STATEMENT Six months ended 30 June 2021 30 June 2020 Unaudited Unaudited £’000 £’000 Revenues 25,758 61,856 Operating expenses (38,577) (64,650) EBITDAR (12,819) (2,794) Rental expenses (1,185) (520) EBITDA (14,004) (3,
Slide 23: EPRA Performance Measures
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 EPR A PERFORMANCE MEASURES The EPRA NRV as at 30 June 2021, set out in the table below amounts to £895.2 million, which equates to £20.85 per share. Six months ended 30 June 2021 £ million EPRA NRV (Net EPRA NTA4 EPRA NDV Reinstatement (Ne
Slide 24: EPRA Performance Measures (Continued)
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 EPR A PERFORMANCE MEASURES (CONTINUED) 31 December 2020 £ million EPRA NDV EPRA NRV EPRA NTA 4 (Net Disposal (Net Reinstatement Value) (Net Tangible Assets) Value) NAV per the financial statements 309.6 309.6 309.6 Effect of exercise of op
Slide 25: EPRA Performance Measures
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 EPR A PERFORMANCE MEASURES The basis for calculating the Company’s adjusted EPRA earnings of £(57.7) million for the 12 months to 30 June 2021 (12 months to 31 December 2020: £(52.1) million) and the Company’s adjusted EPRA earnings per sh
Slide 26: Holmes Hotel London
HOLMES HOTEL LONDON During the period we completed the development of The Residence, a bespoke and self-contained meeting and event space at Holmes Hotel London.
Slide 27: art'otel London Hoxton
ART’OTEL LONDON HOXTON Construction progressed to plan for art‘otel london hoxton. This 27-story building will comprise 343 hotel rooms and suites, five floors of office space, a gym, swimming pool and wellness facilities and an art gallery space. Expected to open 2024.
Slide 28: art'otel London Battersea Power Station
ART’OTEL LONDON BATTERSEA POWER STATION This hotel will be managed by the Group on completion, which is expected in 2022.
Slide 29: Hotel Brioni Pula
HOTEL BRIONI PULA With the extensive repositioning programme nearing completion, this former iconic property is about to relaunched as the Grand Hotel Brioni Pula.
Slide 30: Other Investments
OTHER INVESTMENTS Zagreb project, Croatia Pula project, Croatia The Group has several other projects in its development pipeline, from development sites earmarked for ground up developments, to conversions and repositioning projects. In addition, the Group is actively exploring additional growth opp
Slide 31: Board of Directors
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 BOARD OF DIRECTORS Eli Papouchado Yoav Papouchado Boris Ivesha Daniel Kos Kevin McAuliffe Kenneth Bradley Nigel Keen Stephanie Coxon Non-Executive Alternate President & Chief Financial Officer Non-Executive Deputy Non-Executive Non-Executi
Slide 32: Leadership Team
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 LEADERSHIP TEAM PPHE H OTEL G ROUP A R E N A H OSPITALIT Y G ROU P Boris Ivesha Daniel Kos Greg Hegarty Inbar Zilberman Reuel (“Reli”) Slonim Devansh Bakshi Arnoud Duin President & Chief Financial Officer Deputy Chief Executive Chief Corpo
Slide 33: Largest Shareholders
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 L ARGEST SHAREHOLDERS Number of issued shares Shareholders with holdings of 5% or more of the Company’s issued Percentage of the Company’s issued (excluding treasury) share capital (excluding treasury) as at 30 July 2021 Eli Papouchado2 Nu
Slide 34: Correspondence
PPHE HOTEL GROUP I N T E R I M R E S U LT S 1 SEPTEMBER 2021 CORRESPONDENCE ROBERT HENKE Executive Vice President Commercial Affairs County Hall – Riverside Building 2nd Floor, Belvedere Road London SE1 7GP United Kingdom T. +31 (0)20 717 8600 E. [email protected] pphe.com 33