Galil Capital RE Spain SA · BME:SCGCS
Galil Capital RE Spain SA — Galil Capital RE Spain SOCIMI — Investor Presentation (November 2023)
35 slides from Galil Capital RE Spain SA's investor presentation, Nov 7, 2023
Slide 1: Other Relevant Information filing notice (Spanish)
GALIL CAPITAL RE SPAIN, SOCIMI, S.A. 7 de noviembre de 2023 En virtud de lo previsto en el artículo 17 del Reglamento (UE) nº 596/2014 sobre abuso de mercado y en el artículo 227 de la Ley 6/2023, de 17 de marzo, de los Mercados de Valores y de los Servicios de Inversión, y disposiciones concordante
Slide 2: Other Relevant Information filing notice (English)
GALIL CAPITAL RE SPAIN, SOCIMI, S.A. 7 November 2023 Pursuant to the provisions of article 17 of Regulation (EU) no. 596/2014 on market abuse and article 227 of Law 6/2023 of 17 March on Securities Markets and Investment Services, and related provisions, as well as in Circular 3/2020 of the BME Grow
Slide 3: Galil Capital RE Spain SOCIMI, S.A.
Galil Capital RE Spain SOCIMI, S.A. www.galilcapital.es Jerry Mandel +972-52-5499999 7 November 2023 [email protected] 1
Slide 4: Disclaimer - Future Looking Statement
Disclaimer - Future Looking Statement Certain information set forth in this presentation contains “forward-looking information”, including “future oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements)
Slide 5: Table of Contents
Table of Contents 1. Overview of GCRE Spain 2. Galil RE Naquera 1 – Industrial Property 3. GCRE Sold Properties 4. GCRE Debt Position as of 30 June 2023 5. Rent Income Analysis 6. Financial Statements Review 7. Cash Distributions to Shareholders 3
Slide 6: Overview of GCRE Spain
Galil Capital Overview of GCRE Spain
Slide 7: Galil Capital RE Spain SOCIMI, S.A. (GCRE) Overview
Galil Capital RE Spain SOCIMI, S.A. (“GCRE”) Overview of GCRE* Founded in December 2015. First Investment in May 2016 Structured as SOCIMI (similar to US REIT) Shares listed on the BME Growth (Spain) Focus on Barcelona and Madrid Residential Buildings Hold properties for 3+ years, remodel
Slide 8: Overview of GCRE – Cont'd
Galil Capital RE Spain SOCIMI, S.A. (“GCRE”) Overview of GCRE – Cont’d * On 20 December 2022, GCRE completed the sale of 3 buildings (2 buildings in Barcelona and 1 building in Madrid) for aggregate sale price of Eur 18,296,600. In 2022, GCRE also sold 13 individual units in 2 buildings for an agg
Slide 9: Overview of Portfolio: Barcelona Residential Buildings Owned
Overview of Portfolio Barcelona: 8 Residential Buildings Owned Concepcion Arenal 79-81 Verdi 282 Navas de Tolosa 279 Escorial 9 Aulestia i Corsega 689 Pijoan 4-6 – SOLD Bretón de los Herreros 14-16 – SOLD Unió 28 * As of 3 November 2023 7
Slide 10: Overview of Portfolio: Madrid Residential Buildings Owned
Overview of Portfolio Madrid (inside M30) – 1 Residential Buildings Owned Bejar 23 – SOLD Granada 12 * As of 3 November 2023 8
Slide 11: Overview of Portfolio: Valencia Industrial Property Owned
Overview of Portfolio Valencia – 1 Industrial Property Owned Industrial Property - located at Calle Tramuntana 1, Naquera (Valencia). Distance & Drive Time to Property: • 16 minutes to Valencia airport (20 km) • 24 minutes to Central Market of Valencia Valencia (22 km) • 35 minutes to Port of Valenc
Slide 12: GCRE Structure
GCRE Structure* Galil Capital RE Spain SOCIMI (GCRE) 100% owned Galil RE Naquera 1 PPL** S.L.U. (Galil Investor Naquera) 50% participation 1 2 3 4 5 1 6 7 7 Residential Properties, 1 Industrial Property, owned via SPV. owned directly by GCRE PPL Investor benefits from 50% participation * As of 3 Nov
Slide 13: Owned Properties table
Galil Capital RE Spain SOCIMI, S.A. (“GCRE”) Owned Properties # of Date Built Area (M2) - Number of Number of Mortgage Properties Purchased Catastro Viviendas Locales (1) Barcelona Unio 28 (100%) 1 05-May-16 1,787 12 4 No Corsega 689 - DIVISION HORIZONTAL (15 units out of 16 units) (1) 15 2-Feb-17 1
Slide 14: Galil RE Naquera - Industrial Property
Galil RE Naquera 1 - Industrial Property 12
Slide 15: Galil RE Naquera 1, S.L.
Galil RE Naquera 1, S.L. (“Galil Naquera”) Galil Capital RE Spain SOCIMI, S.A. ("GCRE“), via a wholly owned subsidiary, GALIL RE NAQUERA 1 S.L.U. (“GALIL NAQUERA”), completed the purchase of an Industrial property in Naquera (Valencia) on 29 April 2021. The property is located at Calle Tramuntana 1,
Slide 16: Industrial Property Modules
Galil RE Naquera 1, S.L. (“Galil Naquera”) Industrial Property Module Constructed Area M2 Status Description Module 1 13,557 Leased Industrial Module 2 28,742 Leased Industrial Module 3 1,305 Leased Industrial Module 4 2,578 75% Vacant Office building Module 5 5,921 Leased Industrial TOTAL 52,103 Th
Slide 17: Industrial Property Expansion Plans
Galil RE Naquera 1, S.L. (“Galil Naquera”) Industrial Property Galil Naquera is analyzing the possibility and economic viability of expanding the leasable areas next to module 1 and module 5. Modulo 1 – approx. 3,200 M2, will be constructed as expansion of existing module and expected to be leased t
Slide 18: Galil RE Naquera 1, S.L. - Funding
Galil RE Naquera 1, S.L. - Funding Financing Type Amount Main terms (EUR) GCRE Shareholders’ Loan 2,450,000 • Senior to Participating Loan (“IBL”) • 2.5% fixed annual interest Participating Loan (“PPL”) 2,450,000 • Subordinated to GCRE IBL • Guarantees performance of existing tenant • Variable inter
Slide 19: Sold Properties
Galil Capital Sold Properties
Slide 20: 2023 Sold Properties
2023* Sold Properties In H1-2023, GCRE sold 3 individual units at Granada 12, Madrid (aggregate sale price of EUR 860,000) In October 2023, GCRE sold 1 unit at Granada 12, Madrid for EUR 310,000. Aggregate Sale Price of 2023* sold properties – EUR 1,170,000. GCRE fully repaid the mortgages u
Slide 21: 2022 Sold Properties
2022 Sold Properties On 20 December 2022, GCRE completed the sale of 3 buildings (2 buildings in Barcelona and 1 building in Madrid) for aggregate sale price of EUR 18,296,600: Breton de Los Herreros 14-16, Barcelona Aulestia I Pijoan 4-6, Barcelona Bejar 23, Madrid In 2022, GCRE sold 12 i
Slide 22: GCRE Debt Position as of 30 June 2023
GCRE Debt Position as of 30 June 2023 20
Slide 23: GCRE Debt Position - Update
GCRE Debt Position - Update GCRE fully repaid the mortgages underlying the 2022 and 2023* sold properties On 21 August 2023, GCRE fully repaid the mortgage underlying Unio 28, Barcelona – EUR640,653. The mortgage Interest rate (Euribor+2.50%) increased to 6.697% on 31 July 2023. On 17 October
Slide 24: GCRE Debt Position as of 30 June 2023
GCRE Debt Position As of 30 June 2023 A B C D E F G H I Financial Maturity Date Original Principal Contractual Loan Loan Interest Building Interest Rate before Interest Principal Amount as of temporary Rate after reduction (14 AUG Institution Amount 30-JUNE-2023 Interest Rate 2023) discount * Saving
Slide 25: Rent Income Analysis
6 Galil Capital Rent Income Analysis
Slide 26: H1-2023 Rent Income
12% H1-2023 Rent Income (in thousands of euros) Owned Properties Date H1-2022 H1-2023 FY2023/ Comments Purchased Rent Income Rent Income FY2022 Barcelona Unio 28 (100%) 05-May-16 € 53,244 € 73,491 38% Principal Unit leased and started paying rent 18- NOV-2022 Breton de Los Herreros 14-16 (100%) 19-O
Slide 27: Semi-Annual Rent Income
12% Semi-Annual Rent Income (in thousands of euros) Verdi & Escorial Naquera 17 & 20 JUL 2018 29 April 2021 Bejar Concepcion Arenal 27 DEC 2017 – SOLD 16 DEC 2019 20DEC2022 No rent income in Corsega FY2019. 2 FEB & Granada EUR94,137 in H1- 6 MAR 2017 2020 AUL & BRET Navas de Tolosa 19 OCT 16 MAY 201
Slide 28: Financial Statements Review
Financial Statements Review 26
Slide 29: Limited Review Consolidated Financial Statements (IFRS)
30 June 2023 Limited Review Consolidated Financial Statements (IFRS) We publish our consolidated H1 and annual consolidated accounts in accordance to IFRS guidelines. In addition, we also publish our individual annual accounts in accordance to Spanish GAAP which are mandatory by Spain Tax Authoritie
Slide 30: Limited Review Consolidated Financial Statements (IFRS)
30 June 2023 Limited Review Consolidated Financial Statements (IFRS) English Translation for Convenience Purposes FMV of Properties is based on RICs Valuations from 31 DEC 2022 28
Slide 31: Balance Sheet – Assets – IFRS
30 June 2023 Consolidated Financial Statements (IFRS) English Translation for Convenience Purposes Balance Sheet – Assets – IFRS (Expressed in Euros) Assets Notes 30/06/2023 31/12/2022 Non- current Property, plant and equipment 2,506 2,506 Investment Investment property 3 46,000,500 46,123,000 Prope
Slide 32: Balance Sheet – Equity and Liabilities – IFRS
30 June 2023 Consolidated Financial Statements (IFRS) English Translation for Convenience Purposes Balance Sheet - Equity and Liabilities – IFRS (Expressed in Euros) Equity and liabilities Notes 30/06/2023 31/12/2022 Equity 7 Equity Capital Share capital 5,066,288 27,386,960 raised Share premium 13,
Slide 33: Income Statement – IFRS
30 June 2023 Consolidated Financial Statements (IFRS) English Translation for Convenience Purposes Income Statement – IFRS (Expressed in Euros) Continuing activities Notes 30/06/2023 30/06/2022 Rent Income: Revenue 9 1,099,976 1,204,441 Other revenue 1,052 1,438 Change in fair value of investment pr
Slide 34: Cash Distributions to Shareholders
Cash Distributions to Shareholders 32
Slide 35: Cash Distributions to Shareholders
Cash Distributions to Shareholders Cash Distributions * WASPP € 10.5900 Date Cash / % of Dividend Issued Reserva Total Cash Share WASPP Premium Voluntaria Distribution 02-Mar-23 € 0.74000 6.99% € 0.7400 € - € - € 2,005,719 23-Mar-23 € 0.48100 4.54% € - € 0.4810 € - € 1,317,420 22-Jun-23 € 0.45625 4.
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