Adler Group Sa · XETR:ADJ
Adler Group Sa — ADO Properties — Q3 2018 Earnings Presentation
17 slides from Adler Group Sa's earnings presentation, Nov 14, 2018
Slide 1: Financial Results Q3 2018
FINANCIAL RESULTS Q3 2018 November 14, 2018
Slide 2: Overview & Investment Highlights
OVERVIEW & INVESTMENT HIGHLIGHTS Chapter 01 Kapitel Titel
Slide 3: ADO – The Pure Play Berlin Residential Specialist
ADO – THE PURE PLAY BERLIN RESIDENTIAL SPECIALIST Investment highlights A focused 1 Berlin residential pure play with a EUR 3.8bn quality portfolio residential portfolio(3,4)… Efficient, fully integrated and scalable platform with clear strategy to 2 create value. This unique platform enables in-dep
Slide 4: Highlights Q3 2018
HIGHLIGHTS Q3 2018 • Strong growth continues with income from rental activities increased by more than 27% compared to the Financials Q3 2018 Q1-Q3 2018 same period 2017nits added in Q3 2018 Income from rental activities EUR 34.6m EUR 99.6m • Like-for-like rental growth of 5.5% ahead of guidance EBI
Slide 5: ADO Portfolio & Strategy
ADO PORTFOLIO & STRATEGY Chapter 02 Kapitel Titel
Slide 6: Balanced, High-Quality Portfolio Focused on Berlin
BALANCED, HIGH-QUALITY PORTFOLIO FOCUSED ON BERLIN High-quality turn-of-the-century …with attractive rents... …and low number of remaining restrictions buildings… 657 658 # of units to be released 31% from rent restrictions 36% 24% 28% 19% 12% 10% 10% 207 8% 7% 5% 116 7% 82 4% 54 31 11 23 1919- 1950
Slide 7: Strong Like-for-Like Growth and Stable Vacancies
STRONG LIKE-FOR-LIKE GROWTH AND STABLE VACANCIES Very strong l-f-l result of 5.5% in Q3 2018 Vacancy split 3.6% 3.5% 3.1% 3.1% 5.5% 5.3% / 4.8% 5.1 % 0.2% 0.2% 0.2% 0.2% Guidance: 5.0% 2.6% 2.7% 2.9% From modernization CAPEX Privatization 2.2% 2.7% Modernization From vacancy change 2.0% 2.1% Letting
Slide 8: Privatization Activities on Target
PRIVATIZATION ACTIVITIES ON TARGET Privatization results and outlook(*) Sales profit – avg. sales price vs. portfolio value • 50 units sold until Q3 2018 for gross proceeds of Q1-Q3 2018 EUR 16.2m, generating 37.5% value uplift compared to average fair value of Central Locations • As we expect furth
Slide 9: Financial Overview
FINANCIAL OVERVIEW 03 Chapter Kapitel Titel
Slide 10: Overview of Balance Sheet
OVERVIEW OF BALANCE SHEET In EUR m Sep 30, 2018 Dec 31, 2017 Comments (Unaudited) (Audited) 1 Total portfolio value of 3,848 as at September 30, 2018 Investment properties 1 3,811 3,306 includes investment properties (EUR 3,802m) and trading Other non-current assets 10 8 properties (EUR 46m fair val
Slide 11: Solid Balance Sheet with Fixed Rate Financing
SOLID BALANCE SHEET WITH FIXED RATE FINANCING Key financing figures Diversified permanent profile with weighted average debt maturity of approx. 4.9 years • Long-term debt of EUR 1,360m, almost completely fixed or hedged from diversified funding sources 1.7% (EUR m) • No material near term maturitie
Slide 12: Overview of Profit and Loss
OVERVIEW OF PROFIT AND LOSS In EUR m Q1-Q3 2018 Q3 2018 Year 2017 Comments Net rental income 94.6 33.1 103.3 1 Income from rental activities increased by 27% and is Income from facility services 4.9 1.6 5.9 driven by l-f-l rental growth of 5.5%. Quarter-on-quarter Income from rental activities 1 99.
Slide 13: Overview of FFO
OVERVIEW OF FFO In EUR m Q1-Q3 2018 Q3 2018 FY 2017 Comments EBITDA from rental activities 1 70.7 24.0 77.1 1 EBITDA from rental activities increased by more than 26% Net cash interest (19.1) (6.3) (21.7) due to our strong 5.5% like-for-like rental growth. Q3 Current income taxes (0.7) (0.3) (1.0) r
Slide 14: Guidance 2018
GUIDANCE 2018 1 We anticipate like-for-like rental growth going forward at approximately 5%. This should positively impact portfolio value, EPRA NAV and EPRA NAV per share 2 We expect our FFO 1 run rate to be at least EUR 66m after closing all signed transactions based on the long-term financing str
Slide 15: Financial Calendar
FINANCIAL CALENDAR March 20, 2019 May 22, 2019 Publication Publication FY 2018 Q1/2019 Financial Report Financial Report June 20, 2019 August 14, 2019 Annual Publication General Q2/2019 Meeting Financial Report November 13, 2019 Chapter 04 Publication Kapitel Titel Q3/2019 Financial Report 15
Slide 16: Allee der Kosmonauten Pankow Hermannstraße
Allee der Kosmonauten Aronsstraße Pankow Neukölln Hermannstraße Gutenbergstraße Neukölln Köpenick 16
Slide 17: Imprint
IMPRINT Chapter 03 ADO Properties S.A. Investor Relations Kapitel Titel Aerogolf Center T +352 27 84 56 710 1B Heienhaff F +352 26 26 34 079 1736 Senningerberg Grand Duchy of Luxembourg E [email protected] W www.ado.properties