Lar España Real Estate SOCIMI S A : Informe resultados – Tercer semestre 2023

9M 2023 BUSINESS UPDATE

24th November 2023

Presenting Team

Jon Armentia	Hernán San Pedro
Corporate Director and CFO	Investor Relations and Corporate
of Lar España	Communication Director of Lar España

2

Index

Operating,

1				financial and ESG	Closing
Highlights	2	information	3 Remarks

BBB

3 9M 2023 BUSINESS UPDATE

1Highlights

9M 2023 BUSINESS UPDATE

Our strategy continues delivering good results

12

M O R E T H A N

€749.4 Mn S A L E S2

+8.7%

D O M I N A N TE X C E L L E N T

A S S E T SA C T I V E

M A N A G E M E N T

R E N T S G R O W I N G

GRI +12.6% vs 9M 22

GRI LFL +14.5% vs 9M 223

P E R F E C T M I X

O F R E T A I L E R S

9 0 % T I E R 1

2.3X

N E T P R O F I T 4 V S

9 M 2 0 2 2

A P P R O P I A T E

E F F O R T R A T E

9.9%1

R E D U C I N G	P O S I T I V E
O U T L O O K F O R
N E T L T V	2 0 2 3 D I V I D E N D
31.2%	ORDINARY +
	EXTRAORDINARY

1	Including expenses
2	Declared sales
3	Like for Like excluding Vistahermosa and Rivas Futura retail parks	5		Highlights
4	Calculated without taking into account the change in the value of the assets

2Operating, financial and ESG information

9M 2023 BUSINESS UPDATE

Leasing activity 9M 2023

EFFORT RATE		GLA ROTATED		NEGOTIATED		RENT UPLIFT
				RENTS
9.9%1		33,031 sqm		€9.2 Mn	+7.5%2

134	31	91	12
Operations	Relettings	Renewals	New lettings

1	Including expenses			Financial , operating and ESG
2	Excluding 8 non-comparable operations and in addition to the indexation of contracts.	7
	information

9M 2023 BUSINESS UPDATE

Retailers and costumers are in good health

Evolution of declared sales vs same period of the previous year									Average
								growth by
Sales 9M 20231: €749.4 Mn
															quarter
			38.0%																	+18.0%
40%							29.2%
30%						24.3%	24.1%
							21.3%	16.0%
20%		7.2%											13.9%	7.9%	7.5%	8.7%
10%
0%
	Q1 2021		1H 2021	9M 2021		FY 2021		Q1 2022		1H 2022		9M 2022		FY 2022		Q1 2023		1H 2023		9M 2023

Evolution of footfall vs same period of the previous year										Average
Footfall 9M 2023: 57.8 Mn Visits
													growth by
																					quarter
30%				28.0%					22.8%											+12.7%
25%
20%		11.7%			15.6%		16.2%				13.8%
15%											9.9%	8.1%
10%													5.6%	3.7%	5.0%
5%
0%
	Q1 2021	1H 2021		9M 2021	FY 2021		Q1 2022	1H 2022		9M 2022		FY 2022		Q1 2023		1H 2023		9M 2023

1 Declared sales		Financial , operating and ESG
8
	information

9M 2023 BUSINESS UPDATE

And we have shown resiliency over the years

Evolution of Net Profit quarter by quarter1

Net profit 9M 20231: €62.5 Mn

Million Euros
40									32
30
20							13	13		15	15
	7					7
10	8	7	5	7
0
Q1 2021	Q2 2021	Q3 2021	Q4 2021	Q1 2022	Q2 2022	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023

Evolution of NTA per share

NTA per share 9M 20232: €10.91

Euros per share

13	€10.46	€10.91
11
9
7

Q1 2021

Q2 2021

Q3 2021

Q4 2021

Q1 2022

Q2 2022

Q3 2022

Q4 2022

Q1 2023

Q2 2023

Q3 2023

NTA per share

1

Calculated without taking into account the change in the value of the assets

Financial , operating and ESG

2

When analyzing this measure, it is important to take into account the dividend paid in Q2 2023: €0.60 per share

9

information

9M 2023 BUSINESS UPDATE

Sales by activity: growing in almost every segment

Sales 9M 20231:

€749.4Mn +8.7% vs 9M 2022
FOOD		CULTURE, TECH		LEISURE AND		HOME		FASHION
		AND MULTIMEDIA		ENTERTAINMENT
+8.1% vs 9M 2022		+9.2% vs 9M 2022		+17.3% vs 9M 2022		= vs 9M 2022		+7.4% vs 9M 2022

DINING		HEALTH AND		SERVICES		SPORTS AND		OTHERS
		BEAUTY				ADVENTURE
+14.9% vs 9M 2022		+18.7% vs 9M 2022		-0.8% vs 9M 2022		+9.1% vs 9M 2022		+33.2% vs 9M 2022

1 Declared sales		Financial , operating and ESG
10
	information