Xior Student Housing
Presentation FY 2024 results
Table of contents
- Highlights FY 2024 & Outlook 2025
- Track record
- Portfolio & pipeline
- Operational update
- ESG update
- FY 2024 Results
Q&A
Appendix Financials
Appendix Organisation
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Highlights FY 2024
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Highlights FY 2024
Strong results driven by debt reduction & rental growth
Debt ratio & LTV below 50%* while safeguarding shareholders value
Improvement of financial strength & portfolio quality
- Well executed divestment plan: substantial improvement portfolio quality
- Successful capital raises (ca. €200 m) for accretive investments
- Entry Katoen Natie as additional reference shareholder
- Positive valuations (+1.8% YtD)
EPRA earnings +11% | pro forma Debt Ratio | |
down to | ||
EPS at €2,21 | 49.03% | |
DPS at €1,768 | ||
stable vs 2023 | pro forma LTV down to | |
49.64% | ||
(+10.7% shares) | ||
*Pro forma including successful ABB of January 20254
Highlights FY 2024
Strong business model in growing market
Xior's unique pan-European platform continues to grow
- Approx. 2,100 new units by executing pipeline & acquisitions
- Net increase of approx. 1,000 units (+5%) incl. disposals
Strong & unique business model in strong & dynamic market
- Proven pricing power with LfL rental growth at +6.52% (YoY)
- Consistent high occupancy of 98% driven by undersupply & increasing demand
- Net rental income +15%: larger portfolio, high rental growth & high occupancy
+5% | +15% | 98% |
Occupancy rate | ||
(+1,000 units) | Net rental income | 6.52% |
Net growth portfolio | ||
LfL rental growth
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2024: Further growth of Xior's unique pan-European platform
Net growth of 1,022 units (+5%) including all disposals
New deliveries | New acquisitions | |
(1,000 units) | (c. 1,000 units) | |
Boschdijk Veste, NL (240 units) | Felix, BE (199 units) | Campo Pequeño, PT (380 units) | ||
3 Eiken, BE (334 units) | Zaragoza, ES (340 units/382 beds) | Basecamp by Xior Kraków, PL | |||
(189 additional units delivered) | (620 units/673 beds) | 6 | |||
The Xior Platform: a unique pan-European platform
Strong & experienced operational platform
- Promising start new rental season (March 2025)
- Smooth integration of new assets
- Local expertise in each country: quick response to regulation/trend changes
'Basecamp by Xior' brand
- Important intermediary step towards full Xior rebranding
- Already live in Polish assets
Ambassador program further internationally implemented
- Community as a service
- Capture the "community value" by residents for residents
Update Yardi implementation
- 5 properties in NL now live - NL fully rolled out in 2025
- Student customer journey fully digitalized with app-communication
- Will also improve 'back office' - reporting, finance, …
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Outlook 2025
2025: Value creation by internal growth with internal financing
Execution active | Rentabilisation | LfL Rental growth | ||
pipeline ('25-'26) | landbank ('26-'27) | Min. 5% | ||
+1,200 units | +350 units | |||
FY 2025e | ||||
135 MEUR |
2025e
EPS at min. €2,21 DPS at min. €1,768
stable vs 2024
(c.11% more shares)
Drive operational
margins
Scale, quality,
cost control
Visible earnings growth while maintaining leverage at healthy levels
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Successful start of 2025
January 2025: Successful ABB of 80 MEUR
- Approx. 900 income generating units added to Xior's portfolio
- Strengthening Xior's position in Poland and increasing scale
♦ Debt reduction
Wroclaw
Status | Fully operational |
#units/beds | 775/775 |
Est. Inv. Value | €55 m |
Gross yield | c. 11.1% |
Nom. Agreements | Agreem military school for 230 units |
Warsaw
Status | Fully operational |
#units/beds | 117/117 |
Est. Inv. Value | €12 m |
Gross yield | c. 8% |
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Strong FY 2024 results: solid real estate segment with pricing power
98%
high occupancy rate
+6.52%
LfL rental growth (YoY)
Guidance LFL rental gowth 2025
LfL FY 2025e Min. 5%
Valuations rise
+1.8% YtD
Net growth portfolio
+1,022 units +5%
Fair Value €3.3 billion
20,695 units
(21,274 beds)
2024 earnings +11%
EPS (€2.21) & DPS (€1.768)1
2025 guidance
EPS (min. €2.21) & DPS (min. €1.768)
pro forma Debt Ratio down to
49.03%
pro forma LTV down to
49.64%
1. Dividend is subject to approval by the Annual General Meeting.
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