Vonovia Company Presentation. Vonovia Company Presentation October 18, 2017

Transcription

1 .

2 Agenda 1 Who we are. Page 2

3 Vonovia. Germanys Leading Residential Real Estate Company. Management of 353,000 apartments in our possession. 1 million tenants nationwide years average tenure. Average size of apartment ~61m². 8,300 employees (including 600 gardeners and 4,300 craftsmen), 420 trainees. High degree of customer orientation through combination of central management and on-site presence. Innovative services generate affordable added value for the customers. Market leadership with nationwide representation. Page 3 as at June 30, 2017

4 Our Mission. The taskwe reworkingon. Page 4

5 Our Vision, Our Values. The framework of our actions. OurVision OurValues Page 5

6 Our Advantage. Economic Strength. Listed since Market capitalization of 16bn.* No. 1 in German industry rankings. No. 2 in Europe. Use of a broad, innovative range of financing structures consisting of equity and external/bonded components. Extensive development potential for the future. September 2015:Admission to DAX 30 Page 6 as at June 30, 2017

7 Our History. More Than 160 Years in the Real Estate Industry to 2001 up until to 2014 since 2015 Further expansion Merger with GAGFAH. Housing with a long tradition Rooted in non-profit housing construction. Preceedingcompanies include RaabKarcher, VebaImmobilien, RWE Werkswohnungen, Viterra. Growth and consolidation Since 2008: Consolidation and (debt) restructuring. Expansion into Germany s leading real estate company. Establishment of our own craftsmen s organization. Going public IPO in July Inclusion in MDAX. Further growth through acquisitions. Strengthening of customer orientation and expansion of services. Development of a corporate mission statement. Company renamed Vonovia. Upgrade into DAX 30. Focus on reputation and customer satisfaction as basis of our corporate strategy. Implementation ofa value-add business segment and expanding customer services. Increase of investments. Neighborhood development and densification of existing developments. Page 7

8 Our Path. Many Companies Become One. Heimbau AG RWE Werkswohnungen DeWAG- Portfolio conwert EWG Viterra AG Vitus- Portfolio 210 Deutsche Annington GAGFAH NILEG WoBa 140 GAGFAH No. of units (in thou.) SÜDEWO ~ Page 8

9 Our Portfolio. On Location Across the Nation. The vastmajorityofourapartmentsislocatedin Germany s magnet areas. approx. 353,000 apartments Vonovia locations Cities with aboveaverage population growth ( Schwarmstädte )* * accordingtoa studyby GdW and empirica Page 9 as at June 30, 2017

10 Key Figures for Annual Performance in was an extremely successful business year. FFO 1 in million 1 EPRA NAV in million % , % 17, FFO 1 = EBITDA adjusted after interest and taxes Dec. 31, 2015 Dec. 31, 2016 NAV = real estate assets without liabilities (simplified) Monthly in-place rent (like for like) in /m² Vacancy rate in % + 1.8% 5.82 Upgrading ,3 percentage points + 1.5% Increasing rents Dec. 31, 2015 Dec. 31, 2016 Dec. 31, 2015 Dec. 31, 2016 Page 10

11 Key Figures for the First Half-Year Figures continuously improving. FFO 1 in million 1 EPRA NAV in million % 17, % ,702.8 H H FFO 1 = EBITDA adjusted after interest and taxes Dec. 31, 2016 June 30, 2017 NAV = real estate assets without liabilities (simplified) Monthly in-place rent (like for like) in /m² Vacancy rate in % ,1 ppt June June June June Page 11

12 The Management Board. Rolf Buch CEO Born in 1965 Academic career: Mechanical engineering, business management Previous positions: Member of the Management Board at Bertelsmann, Chairman of the Management Board at Arvato Klaus Freiberg COO Born in 1962 Academic career: History, social sciences, economics Previous positions: Management positions at Arvato Dr. A. Stefan Kirsten CFO Born in 1961 Academic career: Business management, IT Previous positions: CFO at Metro Cash & Carry, CFO at ThyssenKrupp Gerald Klinck CCO Born in 1969 Academic career: Business management Previous positions: CFO GAGFAH, Member of the management of Deutsche Wohnen Page 12

13 Agenda. 2 What we do. Page 13

14 Our Strategy. Reputation and Customer Satisfaction Form a Solid Basis. Prerequisites: Reputation & customer satisfaction Progressive Traditional Property management Financing Portfolio management Value-Add Business Improving operating key figures through efficient administration Ongoing investment and above-average maintenance Optimizing financing costs through internationally competitive financing structure Added value through active portfolio management (tactical acquisitions, sales) Ongoing investment Increasing customer satisfaction by offering additional housing-related services 5 Acquisition Continual review and integration of suitable portfolios into the existing portfolio Optimum control of processes and costs Page 14

15 Our Quality Standards. High Investment Volume. Investments of 792.4m in 2016 for modernization and maintenance. Focus on energy savings, improvement of housing standard and prioritizing senior-friendly conversions. Increased significance of modernization at the tenants requests, neighborhood development and densification of existing developments. Investment volume in million 33 /m² /m² Maintenance Modernization, new construction, extra stories Page 15

16 Our Craftsmen. Insourcing for More Customer Satisfaction. Approximately 4,300* employees in our craftsmen s organization responsible for maintenance, repairs and modernizations on location all across Germany. More craftsmen than any other service provider in the real estate sector. Highest spending of the industry on maintenance. Standardized and innovative processes ensure reliable implementation. Tapping into new areas of activity such as serial construction. Page 16 *asat June 30, 2017

17 Our Claim to Innovation. New Services for Affordable and Better Housing Conditions. Energy-efficient building upgrades Burglary protection digit. Access Parking Apartment modernization Heating modernization Gardening Bathroom modernization Kitchen Condominium administration service Power generation Sub- Metering Industrialized construction Parcel station E-mobility Smart Home Insurance Multimedia Craftsmen s services Energy Marketing Long-term care In the implementation phase New business In the preparatory/assessment phase Page 17

18 Our Responsibility. Driving Change Through Dialogue and Impetus. In constructive dialogue with tenants' associations and decision-makers of the housing industry. Active membership in the major industry associations at Group and regional level. Continuous dialogue with representatives of the federal government, federal states and municipalities. Implementation and promotion of holistic neighborhood development projects. Fromlefttoright: CEO Rolf Buch, Federal Minister for the Environment Barbara Hendricks, PresidentoftheGerman Bundestag Dr. Norbert Lammert, Lord Mayor of the City of Bochum Thomas Eiskirch Page 18

19 Our Neighborhoods. New Projects initiated. Multiplying the experiences of the Eltingviertel/Essen Hamburg Berlin Bielefeld Essen Dortmund Dresden Frankfurt München Page 19

20 Our Contribution to the Solution. New Apartments for Metropolitan Areas. Neubau New construction/densification Serial (modular) construction to reduce costs Easily adapted to varied needs. Using a unique concept and prefabrication to control costs. Reduced construction costs. Vertical expansion Short construction periods. Conservation of resources during construction. Easy maintenance. Response to skills shortage. Page 20

21 Our Future. New Investment Program issued. Investment in million 1,000 for new housing ~730 1 ~ for improvement of portfolio quality and neighborhood development Forecast medium-term planning p.a. 1 part of investment program in the amount of 1bn, dependent on planning permission Page 21

22 Contact. Vonovia SE Philippstrasse Bochum, Germany Tel.: / Registered office: Düsseldorf HRB 68115, Düsseldorf Local Court Management Board: Rolf Buch (CEO), Klaus Freiberg, Dr. A. Stefan Kirsten, Gerald Klinck Chairman of the Supervisory Board: Prof. Dr. Edgar Ernst Page 22

23 Disclaimer. Statement of Confidentiality This presentation has been prepared by VonoviaSE and/or its subsidiaries (collectively referred to as Vonovia ) for internal purposes. As a result, it cannot be considered a sufficient or appropriate basis for third-party purposes. This presentation has been prepared solely for informational purposes and is explicitly distributed as confidential information.it may only be used in accordance with the valid legislation, e.g., the regulations governing insider trading. This presentation may not be distributed, published or reproduced, either in full or in part, nor may its content be disclosed to third parties. Upon receipt of this presentation, therecipient declares that they will treat the presentation as confidential and acknowledge the terms and conditions set out below. This presentation contains statements, assumptions, opinions and predictions about the anticipated future development of Vonovia( forward-looking statements ) that reproduce various assumptions regarding, e.g., results derived from Vonovia scurrent business or from publicly available sources that have not been subject to an independent audit or an in-depth evaluation by Vonovia,and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. They should therefore not be taken as a guarantee for future performance or results, nor do they, furthermore, necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this presentation was provided to the recipient. It is up to the recipient of this presentation to conduct amore detailed analysis of the validity of its forward-looking statements and the underlying assumptions. Vonovia cannot be held liable, on any legal basis, for the forward-looking statements and assumptions materializing. Vonoviaexcludes any liability, to the full extent permitted by law, for any direct or indirect damage or consequential damage or anypenalty incurred by the recipient as a result of the use of the presentation, its contents or with any other link to the presentation. Vonoviadoes not provide any guarantees or assurances (either explicit or implicit) with respect to the information contained in thispresentation or the presentation s suitability for the recipient's purposes. The fact that this presentation is made available,does not involve any assurance of the information contained herein still being correct after the date of publication. Vonoviais not obliged to update or correct the information, forward-looking statements or conclusions drawn in this presentation or toinclude subsequent events or circumstances, nor to report inaccuracies that become known after the date of this presentation. Page 23