Q1 Results 2012                                            S IMMO AG                                            Conference...
Agenda 1. Portfolio & markets 2. Key figures Q1 2012 3. S IMMO Share 4. Outlook 5. Appendix                          2
Portfolio & markets                      3
real estate experience                       Real estate assets                       in EUR m                            ...
Our markets                                                CEEForecasts 2012                                  HU: GDP grow...
Property portfolio                     Floor space              1,355,797 m²                     Portfolio rental yield   ...
Diversified portfolio                        7
Rental income                8
Highlights of our over 6,800 tenants                                       9
Sales | AUSTRIA AND GERMANYFive residential properties in Berlin, oneoffice building in Munich, one residentialproperty in...
Key figures Q1 2012                      11
Highlights key figures Q1 2012In EUR ’000                  - 0.6%              30,291   30,103                - 1.9%      ...
Income statementIn EUR ’000                                    31 March 2012   31 March 2011Revenues                      ...
Income statementIn EUR ’000                              31 March 2012   31 March 2011EBITDA                              ...
Funds From Operations (FFO)• S IMMO’s FFO increased by an impressive 65.2% to EUR 5.9m (Q1 2011: EUR 3.6m).• In calculatin...
Net Asset Value• As at 31 March 2012, balance sheet NAV stood at EUR 7.06 per share  (31 December 2011: EUR 6.96 per share...
Consolidated statement of financial positionIn EUR m           2.500          2,084.4               2,084.4           2.00...
Bank debt and LTVIn EUR ’000                                            31 March 2012Long-term bank debt and financial lia...
Terms of financial liabilitiesIn EUR ’000                      31 March 2012Less than 1 year                      152,8211...
Solid finance structureFinancing costs                        Financial institutions• Cost of funding: 4.66%              ...
Property portfolioIn EUR ’000                                         31 March 2012   31 December 2011Investment propertie...
S IMMO Share               22
Stable core shareholders                           23
S IMMO SharePERFORMANCE (as at 31 March 2012)   KEY FIGURES as at 31 March 2012Year-to-date: -11.06%                      ...
Capital Market | MEASURESS IMMO Share repurchase programme(so far 483,998 shares repurchased)S IMMO INVEST repurchase prog...
Outlook          26
OutlookProfitability increase by• Sales: approx. 5% of portfolio in 2012  (EUR 100m minimum)• Further letting increases in...
OutlookUse of funds to• Repurchase S IMMO Shares• Repurchase S IMMO INVEST  participating certificates• Payment of dividen...
Development project | QUARTIER BELVEDERE CENTRALDistrict at the future Vienna Central StationPlanned gross floor space: ar...
Q1 Results 2012                                            Thanks for                                            your atte...
Appendix           31
Consolidated statement of financial position | ASSETSIn EUR ’000                                31 March 2012    31 March ...
Consolidated statement of financial position |EQUITIES AND LIABILITIESIn EUR ’000                                        3...
Appendix | COVERAGERESEARCH HOUSE          FAIR VALUE   RECOMMENDATIONEdge Capital              EUR 5.30         Outperfor...
Appendix | MEMBERS OF THE BOARD                                          Friedrich Wachernig MBA                          ...
Appendix | CORPORATE COMMUNICATIONS & IR                                           CORPORATE COMMUNICATIONS / PR          ...
Appendix | NEW WEBSITEFrom now on we offer following services on www.simmoag.at:• Advanced real estate data base• Newslett...
Appendix | FINANCIAL CALENDER 201224 May 2012        Results for the first quarter 201201 June 2012       Annual General M...
DisclaimerThese materials have been prepared by S IMMO AG (the "Company") solely for informational purposes, is intended f...
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Simmo AG Q1 2012 Results

  1. 1. Q1 Results 2012 S IMMO AG Conference Call Vienna, 24 May 2012Holger Schmidtmayr | Ernst Vejdovszky | Friedrich Wachernig
  2. 2. Agenda 1. Portfolio & markets 2. Key figures Q1 2012 3. S IMMO Share 4. Outlook 5. Appendix 2
  3. 3. Portfolio & markets 3
  4. 4. real estate experience Real estate assets in EUR m 2,013 1,969 1,901 1,934 1,808 1,528 1,172 707SparkassenImmobilien Anlagen 446AG was founded in 313 337 282Austria in 1986/1987 152 203 136 145 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Q1 2012 4
  5. 5. Our markets CEEForecasts 2012 HU: GDP growth: -0.5Data in % Debts: 76.3 SK: GDP growth: 1.4 Debts: 47.1 CZ: GDP growth: 0.5 SEEGermany RO: GDP growth: 1.2 Debts: 43.0GDP growth: 1.9 Germany Debts: 34.4Debts: 81.1 BG: GDP growth: 3.7 Debts: 18.6 Czech Republic HR: GDP growth: -1.0 Slovakia Debts: 66.7 Austria Hungary Romania Austria Croatia GDP growth: 0.9 Debts: 74.8 BulgariaSources: Erste Group, European Commission 5
  6. 6. Property portfolio Floor space 1,355,797 m² Portfolio rental yield 6.8% Occupancy rate 93.1% 6
  7. 7. Diversified portfolio 7
  8. 8. Rental income 8
  9. 9. Highlights of our over 6,800 tenants 9
  10. 10. Sales | AUSTRIA AND GERMANYFive residential properties in Berlin, oneoffice building in Munich, one residentialproperty in ViennaGains on property disposals came toEUR 0.7m. Compared to the estimatedvalues as at 30 September 2011, gains onproperty disposals amounted to EUR 4.2m. 10
  11. 11. Key figures Q1 2012 11
  12. 12. Highlights key figures Q1 2012In EUR ’000 - 0.6% 30,291 30,103 - 1.9% 24,053 23,609 + 65.2% + 18.2% 5,929 6,404 5,416 3,590 Rental income EBITDA FFO Net income 01-03/2011 01-03/2012 12
  13. 13. Income statementIn EUR ’000 31 March 2012 31 March 2011Revenues 46,911 48,251 of which rental income 30,103 30,291 of which revenues from operating costs 9,066 9,539 of which revenues from hotel operations 7,742 8,421Other operating income 3,075 3,614Expenses directly attributable to properties -16,281 -16,939Hotel operating expenses -7,008 -7,194Gross profit 26,697 27,732Gains on property sales 652 577Management expenses -3,740 -4,256EBITDA 23,609 24,053 13
  14. 14. Income statementIn EUR ’000 31 March 2012 31 March 2011EBITDA 23,609 24,053Depreciation and amortisation -2,346 -2,441Gains / losses on property valuation 3,850 5,000Operating result (EBIT) 25,113 26,612Financing costs -16,274 -17,634Participating certificates result -3,193 -3,450Net income before tax (EBT) 5,646 5,528Taxes on income 758 -112Consolidated net income for the period 6,404 5,416 14
  15. 15. Funds From Operations (FFO)• S IMMO’s FFO increased by an impressive 65.2% to EUR 5.9m (Q1 2011: EUR 3.6m).• In calculating FFO, the results for the period are adjusted for non-cash items such as depreciation and amortisation, valuation gains and losses on interest rate hedges and exchange rate differences. 15
  16. 16. Net Asset Value• As at 31 March 2012, balance sheet NAV stood at EUR 7.06 per share (31 December 2011: EUR 6.96 per share).• The EPRA NAV, the inner value of the share calculated in accordance with the guidelines of the European Public Real Estate Association, was EUR 8.88 per share (31 December 2011: EUR 8.70 per share).• EPRA NAV represents the value of equity minus the effects that do not have a long-term impact on the business activities of the Group, such as valuations of derivatives and deferred taxes. 16
  17. 17. Consolidated statement of financial positionIn EUR m 2.500 2,084.4 2,084.4 2.000 506.6 1.500 234.0 198.0 1,957.7 1.000 1,145.8 500 126.7 0 Assets Equities and liabilities Non-current assets Equity Current assets Subordinated participating certificate Current liabilities Non-current liabilities 17
  18. 18. Bank debt and LTVIn EUR ’000 31 March 2012Long-term bank debt and financial liabilities 1,068,701 thereof negative fair value of derivatives 81,582Short-term bank debt and financial liabilities 152,821Total bank debt and financial liabilities 1,221,522Cash and cash equivalents -60,483Net financing debts 1,161,039Total portfolio value 1,934,381Loan to value ratio (including derivative valuation) 60%Loan to value ratio (excluding derivative valuation) 56% 18
  19. 19. Terms of financial liabilitiesIn EUR ’000 31 March 2012Less than 1 year 152,8211 to 2 years 37,8302 to 3 years 185,9253 to 4 years 32,9474 to 5 years 45,451More than 5 years 766,547 19
  20. 20. Solid finance structureFinancing costs Financial institutions• Cost of funding: 4.66% Erste Group Bank 24% Immorent / Sparkassen 17%• Variable interest loans are hedged with swaps, caps und collars Other Austrian financial 52% institutions German banks 7% 20
  21. 21. Property portfolioIn EUR ’000 31 March 2012 31 December 2011Investment properties 1,718,694 1,716,899Properties under development and undeveloped land 56,005 55,480Properties held for sale 27,195 62,800Owner-operated properties 132,487 134,321Total portfolio value 1,934,381 1,969,500 21
  22. 22. S IMMO Share 22
  23. 23. Stable core shareholders 23
  24. 24. S IMMO SharePERFORMANCE (as at 31 March 2012) KEY FIGURES as at 31 March 2012Year-to-date: -11.06% Shares 68,118,718 Share price (EUR) 4.488 Market cap share (EUR m) 305.7 Trading volume shares (100 days Ø) 60,600 Trading volume EUR (100 days Ø) 303,000 Market cap participating certificate (EUR m) 210.7 Earnings per share (EUR) 0.09 EPRA NAV per share (EUR) 8.88 Share price discount from EPRA NAV 49% Balance sheet NAV per share (EUR) 7.06 Share price discount from balance sheet NAV 36% Reuters Ticker SIAG.VI Bloomberg Ticker SPI:AV 24
  25. 25. Capital Market | MEASURESS IMMO Share repurchase programme(so far 483,998 shares repurchased)S IMMO INVEST repurchase programme until20 June 2012 (in total approx. 12% of allparticipating certificates repurchased)Propose of dividend distribution to the AnnualGeneral Meeting: EUR 0.10 per share(Dividend payment planned for 15 June 2012)Furthermore, the Management Board willpropose to the Annual General Meeting newauthorisation rights for the Management Boardto repurchase further own shares. 25
  26. 26. Outlook 26
  27. 27. OutlookProfitability increase by• Sales: approx. 5% of portfolio in 2012 (EUR 100m minimum)• Further letting increases in SEE• Completion of refurbishment programme in Germany: cost decrease and corresponding an increase in property value 27
  28. 28. OutlookUse of funds to• Repurchase S IMMO Shares• Repurchase S IMMO INVEST participating certificates• Payment of dividend• Reduction of loan to value ratio to under 55% 28
  29. 29. Development project | QUARTIER BELVEDERE CENTRALDistrict at the future Vienna Central StationPlanned gross floor space: around 130,000 m²Zoning rights given in January 2012Mixed use types: offices, hotels, retail spaceDevelopment in several phases 29
  30. 30. Q1 Results 2012 Thanks for your attention!Holger Schmidtmayr | Ernst Vejdovszky | Friedrich Wachernig
  31. 31. Appendix 31
  32. 32. Consolidated statement of financial position | ASSETSIn EUR ’000 31 March 2012 31 March 2011Properties held as financial investments 1,774,699 1,772,379Owner-operated properties 132,487 134,321Other plant and equipment 7,227 7,472Other non-current assets 43,299 42,703Properties held for sale 27,195 62,800Inventories 7,017 7,097Other current assets 31,988 33,346Cash and cash equivalents 60,483 115,260 2,084,395 2,175,378 32
  33. 33. Consolidated statement of financial position |EQUITIES AND LIABILITIESIn EUR ’000 31 March 2012 31 March 2011Shareholders’ equity 506,598 503,130 Share capital 245,875 246,341 Capital reserves 73,329 73,416 Other reserves 158,796 154,285 Non-controlling interest 28,598 29,088Liabilities 1,577,797 1,672,248 Subordinated participating certificate capital 233,990 230,797 Non-current financial liabilities 1,068,701 1,103,371 Other non-current liabilities 77,105 80,209 Current liabilities 198,001 257,871 2,084,395 2,175,378 33
  34. 34. Appendix | COVERAGERESEARCH HOUSE FAIR VALUE RECOMMENDATIONEdge Capital EUR 5.30 OutperformErste Group EUR 5.20 AccumulateHSBC Global Research EUR 5.20 OverweightKBC Securities EUR 4.04 HoldRaiffeisen Centrobank EUR 4.80 HoldSRC Research EUR 7.00 Buy 34
  35. 35. Appendix | MEMBERS OF THE BOARD Friedrich Wachernig MBA Project development, Asset Management in CEE/SEE, Acquisition and Sales of development land and projects, Organisation, IT, HR With S IMMO AG as Management Board since November 2007 17 years of experience in managing property development projects in CEE Studied economics Ernst Vejdovszky Finance, Asset Management Austria and Germany, Risk Management Co-founder of Sparkassen Immobilien Anlagen AG Ten years in Management Board of Immorent. 23 years in Management Board of S IMMO AG Holger Schmidtmayr MRICS Acquisition/sale of standing properties, Investor Relations & Corporate Communications, Legal, Compliance With the Company for ten years, Member of the Manage Board for seven years Four years experience in CEE trading finance Friedrich Ernst Holger Wachernig Vejdovszky Schmidtmayr 35
  36. 36. Appendix | CORPORATE COMMUNICATIONS & IR CORPORATE COMMUNICATIONS / PR Bosko Skoko Phone: +43 (0)50 100-27522AUSTRIAN INVESTORS E-mail: bosko.skoko@simmoag.atAndreas FeuersteinPhone: +43 (0)50 100-27556E-mail: andreas.feuerstein@simmoag.at CORPORATE COMMUNICATIONS / OPERATIONAL MARKETING Elisabeth WagererINTERNATIONAL INVESTORS / Phone: +43 (0)50 100-27867STRATEGIC MARKETING E-mail: elisabeth.wagerer@simmoag.atSylwia MilkePhone: +43 (0)50 100-27402E-mail: sylwia.milke@simmoag.at CORPORATE COMMUNICATIONS / INVESTOR RELATIONS Angelika Scheid, BA Phone: +43 (0)50 100-27063 E-mail: angelika.scheid@simmoag.at 36
  37. 37. Appendix | NEW WEBSITEFrom now on we offer following services on www.simmoag.at:• Advanced real estate data base• Newsletter subscription• Ad hoc releases and share price via SMS• RSS-Feeds 37
  38. 38. Appendix | FINANCIAL CALENDER 201224 May 2012 Results for the first quarter 201201 June 2012 Annual General Meeting23 August 2012 Results for the first half year 201222 November 2012 Results for the first three quarters 2012 38
  39. 39. DisclaimerThese materials have been prepared by S IMMO AG (the "Company") solely for informational purposes, is intended foryour use only and does not constitute an offer or commitment, a solicitation of an offer or commitment, or any advice orrecommendation to enter into or conclude and transaction.These materials contain forward-looking statements based on the currently held beliefs and assumptions of themanagement of the Company, which are determined and expressed in good faith and, in their opinion, reasonable. Theassumptions and parameters used are not the only ones that might reasonably have been selected and therefore noguarantee is given as to the accuracy, completeness or reasonableness of any such information, disclosure or analysis.Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause theactual results, financial condition, performance, or achievements of the Company, or results of the real estate industrygenerally, to differ materially from the results, financial condition, performance or achievements expressed or implied bysuch forward-looking statements. Given these risks, uncertainties and other factors, recipients of this document arecautioned not to place undue reliance on these forward-looking statements. This material does not purport to contain allthe information that an interested party may desire. In any event, each person receiving these materials should makean independent assessment of the merits of pursuing a transaction. The Company disclaims any obligationto update these forward-looking statements to reflect future events or developments options and estimates may bechanged without notice.The materials contained in this presentation have not been subject to independent verification. No representation,warranty or undertaking, expressed or implied, is made as to, and no reliance should be placed on, the fairness,accuracy, completeness or correctness of the information or opinions contained herein. None of the Company,its affiliates or its advisors, nor any representatives of such persons, shall have any liability whatsoever(in negligence or otherwise) for any loss arising from any use of this document or its contents or otherwise arisingin connection with this document. 39

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