Company Presentation
May 2024
Office property Ingolstadt
Agenda
- HAMBORNER at a glance
- Portfolio Overview
- Asset/Property Management
- Financials
- Sustainability / ESG
- Appendix
Agenda | | 2 |
HAMBORNER
at a glance
Office property 'Nu-Office' Munich
Company profile
History
1953 Foundation of HAMBORNER
Listing on stock exchange
1954
Clear focus on commercial properties 2009- Conversion into a G-REIT
2010
Inclusion in German SDAX & EPRA-Index
2011-
2012
Further growth based on revised corporate strategy
2020
Portfolio Data (as of 31 March 2024)
Portfolio volume | €1,471m |
Number of assets | 67 |
WALT | 6.3 years |
Occupancy rate (EPRA) | 97.0% |
1 Based on mid-point of current FFO guidance range for full-year 2024 and share price as of 31 March 2024
Company profile
- Public commercial property company
- Profitable and diversified German-wide property portfolio
- Two-pillarportfolio structure with focus on food-anchored retail and office properties
- Stable and predictable cash flows
- Strong focus on ESG and future topics
- Lean and efficient corporate structure
- Strong internal asset and property management
- Sustainable and attractive dividend policy
Key Financials (as of 31 March 2024)
FFO yield 2024e1 | 9.3% |
NAV per share | €10.19 |
REIT equity ratio | 56.1% |
LTV | 42.6% |
HAMBORNER at a glance | 4
The HAMBORNER Share
The HAMBORNER Share | Shareholder structure | ||||||
Current share price | €6.55 (as of 31 March 2024) | ||||||
Market capitalisation | €532.8m (as of 31 March 2024) | 12.20% RAG Foundation | |||||
WKN/ISIN | A3H233 / DE000A3H2333 | ||||||
81,343,348 | 5.89% BlackRock | ||||||
Ticker symbol | HABA | ||||||
shares | |||||||
Class of shares | Registered Share | ||||||
81,91% Free float | |||||||
Exchange segment | Prime Standard | ||||||
Indices | SDAX, EPRA, RX REIT | ||||||
Trading Volume | Dividend per Share and Dividend Yield |
176 | 185 | 170 | 0.47 | 0.47 | 0.47 | 0.47 | 0.48 | ||||||||||||||
1 | 0.43 | 0.45 | 0.46 | 10 | |||||||||||||||||
146 | 0.42 | ||||||||||||||||||||
140 | 134 | 138 | 0.40 | 9 | |||||||||||||||||
121 | 122 | 0 | |||||||||||||||||||
8 | |||||||||||||||||||||
96 | 7 | ||||||||||||||||||||
0 | 7.0 | 7.0 | 6 | ||||||||||||||||||
5.5 | 5.2 | 5 | |||||||||||||||||||
0 | 4.9 | 4.8 | 4.6 | 4.8 | 4.7 | 4 | |||||||||||||||
4.4 | |||||||||||||||||||||
3 | |||||||||||||||||||||
0 | 2 | ||||||||||||||||||||
1 | |||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Q1 2024 | 0 | 0 | ||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | ||||||||||||
Ø number of shares per day in thousand | Dividend per share in € | Dividend yield in % |
HAMBORNER at a glance | 5
Portfolio Overview
Office property Münster
Portfolio Strategy - Target Structure
Retail Portfolio | Office Portfolio |
10-20% | Manage-to-core properties | 10-20% | Manage-to-core properties with |
with value-add potential | value-add potential | ||
80-90% | Maintaining/extension of core | 80-90% | Maintaining/extension of core |
retail portfolio with focus on | |||
office portfolio | |||
local supply | |||
Portfolio value | Portfolio value |
- Two-pillarportfolio structure with focus on food-anchored retail and office assets with core characteristics
- Gradual addition of selected manage-to-core properties with value-add potential
- Continuous asset rotation as part of active portfolio management approach
Portfolio Overview | | 7 |
Portfolio Management Approach
Asset classes
Risk profile
Lot size
Portfolio management approach
- Retail
- Office
- Core
- Manage-to-core
- > €10m (retail)
- > €20m (office)
- Focus on core investments
- Addition of selected manage-to-coreproperties with larger asset management need (refurbishment, reletting, repositioning etc.)
- Realization of value potential within existing portfolio (incl. selective development activity)
- If applicable, participation in investment partnerships (co-investments, joint ventures)
- Active portfolio management approach ('buy-hold-sell')
- Constant portfolio streamlining in line with strategic parameters
- Consideration/Linking of performance indicators from capital market and property perspective
- Investments following defined sustainability strategy
Portfolio Overview | | 8 |
Geographical Portfolio Structure
Geographical Focus (Metropolitan Regions in Germany) | Portfolio by Metropolitan Regions (as of 31 March 2024; in % of portfolio value) | |||
Metropolitan Region | Share of portfolio volume | |||
8 | |
10 | |
9 | |
3 | |
1 | 11 |
2 | |
4 | |
6 |
5 | |
7 | Retail |
Office |
Metropolitan Region
- Rhine-Ruhr
- Frankfurt Rhine-Main
- Berlin-Brandenburg
- Nuremberg
- Stuttgart
- Rhine-Neckar
7Munich
- Hamburg
- Hannover-Brunswick-Göttingen-Wolfsburg
- Northwest
- Middle Germany Outside metropolitan region
21.4%
12.8%
9.4%
8.2%
5.9%
5.2%
5.1%
3.2%
2.7%
1.6%
0.9%
23.6%
Retail Office
Portfolio Overview | | 9 |
Portfolio development
2.000 | 50 | |
Portfolio value and average property value | Comments | |
1,625 | 1,609 | ▪ Continuous value-adding portfolio growth | |||||||||||
1,589 | 1,604 | 40 | since conversion into a G-REIT in 2010 | ||||||||||
1,517 | 1,471 | 1,471 | ▪ | Average annual growth rate of 10.7% | |||||||||
1.500 | |||||||||||||
1,363 | over the last 10 years | ||||||||||||
30 | ▪ Average property value of €22.0m allows | ||||||||||||
1,115 | cost-effective portfolio and asset | ||||||||||||
management | |||||||||||||
1.000 | 900 | ▪ Operating cost ratio at 9.3% in Q1 2024 | |||||||||||
24.4 | |||||||||||||
23.6 | |||||||||||||
717 | 22.0 | 22.0 | 20 | ▪ | Combination of two-pillar portfolio strategy | ||||||||
20.3 | |||||||||||||
19.5 | 19.4 | and investment focus on metropolitan regions | |||||||||||
18.4 | |||||||||||||
forms the basis for future value-adding growth | |||||||||||||
16.2 | |||||||||||||
500 | 13.0 | ||||||||||||
10 | |||||||||||||
10.5 | |||||||||||||
0 | 0 | ||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Q1 2024 | |||
Portfolio value in €m | Ø property value in €m |
Portfolio Overview | 10
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Disclaimer
Hamborner Reit AG published this content on 07 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2024 16:44:08 UTC.