Wereldhave N.v. · EURONEXT:WHA
Wereldhave — Investor Presentation (February 2012)
7 slides from Wereldhave's investor presentation, Feb 7, 2012
Slide 1: Full focus on W-Europe
Full focus on W-Europe 7 February 2012
Slide 2: Highlights
Highlights • Wereldhave will fully focus on Western Europe • The US-portfolio will be sold in next 2-3 years (ca. € 800m) • Sale of non-core assets in Europe will continue (ca. € 300m) • Proceeds will be reinvested in new acquisitions and pipeline projects • Resulting in a strong and focussed Wereld
Slide 3: Strategy implementation 2009-11
Strategy implementation 2009-11 Dec 09 Dec 11 progress Shopping centres 50-60% 46% 60% Focus per country >80% excl Spain, Belgium Portfolio size per country > € 400m All, excl Spain Sale non-core & <€ 20m properties ±€ 260m sold in 2010-11 LTV 35-45% 28% 41% Stable and growing DR p/s 4.93
Slide 4: Ready for the next step
Ready for the next step • Management organization strengthened and tailored towards investment, (re)development and active management of shopping centres in the Netherlands, Belgium, Finland and the UK • Proven track record of well-timed office acquisitions, (re)developments and sales in Paris. Caut
Slide 5: Strategic goals
Strategic goals → Scaling up size per country and retail exposure • Shopping Centres 60-80% of property investments • Offices 15-30% • Development pipeline 5-10% • Minimum portfolio size € 500m per country (on average) • Stable growth direct result and dividend per share • Dividend payout 85-95% of
Slide 6: Impact on P&L and Balance Sheet
Impact on P&L and Balance Sheet Timing of planned sales and attractive reinvestments might not always coincide. During the transition phase: • The direct result is more likely to fluctuate • The LTV is expected to come out at the lower half of the 35-45% range • The dividend in 2012 en 2013 will be
Slide 7: Investor relations contact
Investor relations: Charles Bloema/Jaap-Jan Fit tel: +31(0)70 307 45 45/43 [email protected] www.wereldhave.com