DEFAMA Deutsche Fachmarkt : Firmenpräsentation (englisch)
November 23, 2021 at 05:40 pm IST
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Company Presentation
DEFAMA Deutsche Fachmarkt AG
November 2021
EQUITY STORY
DEFAMA acquires:
Well‐established retail parks and small shopping centres
Chain stores with strong solvency as (anchor) tenants
Little vacancies and/or investment needs
Purchase price per property usually between €1m and €5m
Mainly located in small to medium‐sized towns
Pasewalk, Mecklenburg Western Pomerania
Waldeck, Hesse
We pursue a buy‐and‐hold strategy with the aim of generating a sustainable double‐digit return on equity.
Apolda, Thuringia
Company Presentation DEFAMA Deutsche Fachmarkt AG
2
EQUITY STORY
Three good reasons why we pursue this strategy:
Property size usually
Too small for most
Favourable prices due to
between €1m and €5m
institutional investors
lack of competition
Focus on typical local
No issues with
Sustainable rentability
shopping centres
e‐commerce substitution
of the objects
Deliberate focus on small
Low purchase prices also
Best opportunities for
and medium‐sized cities
for good locations
sustainably high returns
Company Presentation DEFAMA Deutsche Fachmarkt AG
3
INVESTMENT CASE
Value creation on several levels (I)
Acquisition of properties with initial yield of 10% p.a.
Refinancing of > 80% of investment with app. 2% p.a. possible
Albstadt, Baden‐Wuerttemberg
little equity needed,
therefore high return on equity
• Strong growth based on additional acquisitions
FFO per share
in €
1,50.1.33
• Realisation of earnings and saving potential
Earnings per share +90% within four years, FFO per share +146%
1.01
1,00.0.73
0.54
0,50.
0,00
1.14
2016
2017
2018
2019
2020
Company Presentation DEFAMA Deutsche Fachmarkt AG
4
INVESTMENT CASE
Value creation on several levels (II)
Complex single purchases at favourable prices
Professionally managed portfolios trade
at much higher multiples on net rent
NAV per share +203% within four years
Shareholders benefit from
Yearly dividend increase
Strong and crisis‐proof cash flow / FFO
Continously rising value of portfolio / NAV
NAV per share
in €
16.86
16
13.46
12
11.02
8.42
8
5.50
4
0
2016
2017
2018
2019
2020e
dividend per share
in €
0,60
0.45 0.48
0.40
0,400.34
0.20
0,20
0,00
2016
2017
2018
2019
2020
Company Presentation DEFAMA Deutsche Fachmarkt AG
5
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Defama Deutsche Fachmarkt AG published this content on 23 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2021 12:09:11 UTC.
Defama Deutsche Fachmarkt AG is a Germany-based real estate company. The Company focuses on retail properties in small and medium-sized cities, mainly in northern and eastern Germany, but also in Rhineland-Palatinate. The Company owns real estate in Apolda, Bleicherode, Brand-Erbisdorf, Goerlitz, Koenigsee, Merseburg, Pasewalk, Radeberg, Schneeberg and Traben-Trarbach, and rents out space to various clients, including Netto Marken-Discount, Daenisches Bettenlager, REWE, Ernsting's family, Apotheke, ALDI Nord, Deichmann, Kik, Hammer Fachmaerkte, NORMA, Sagasser Getraenke, Drogeriemarket Bernhardt, PENNY-Markt, WVG Getraenke, toom, Takko, TEDi, Konsum, RENO, AWG Mode, K+K Schuhe and LIDL, among others.