investors’ presentation 11.09 - briq properties · investors’ presentation 11.09.2018 . quest...
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Investors’ Presentation11.09.2018
Quest Group 84,5%
BriQ at a glance
Key facts :
• REIC operating license received 31/5/2016
• Company registered 21/10/2016
• ASE listed since 31/07/2017
• 11 properties of € 29,3M value
• Share Capital : €27,8M
• Shareholders : Th. Fessas: 52,16%, E. Koutsoureli: 26,49%, Free float: 21,35%
Key tenants (*)
36%
30%
7%
5%
4%
• % of annualized rent as of 30.06.2018
Offices: 5Logistics: 3Retail: 1Mixed use: 1Special use: 1Total number of properties: 11
5
North Suburbs Number of properties: 3
Fin
an
cia
l M
etr
ics
(amounts in € 000’s) 31.08.18(1)
Diff.(1) (2)
31.12.17(2)
Diff.(1) (3)
30.06.17(3)
Number of Properties 11 22,2% 9 57,1% 7
Value of Properties 29.281 11,1% 26.346 20,5% 24.306
NAV 28.630 (*) 1,3% 28.268 3,1% 27.757
NAV / share (€) 2,40 (*) 1,3% 2,37 3,1% 2,33(*) As of 30.06.2018
BriQ PortfolioOffices: € 18,9M (64,5%)
Logistics: € 8,5M (29,2%)
Special Use: € 1,0M (3,5%) Retail: € 0,8M (2,8%)
19-23, Al. Pantou Str, Kallithea
125-127, Kifissou Av, Rentis
25, Al. Pantou Str, Kallithea 2A, Argyroupoleos Str, Kallithea
42, Poseidonos Av, Kallithea 1, Alamanas Str, Maroussi (Euroco)
27, Al. Pantou Str, Kallithea
65, Loutrou Str, Acharnes119, Kifissou Av, Rentis
18, Filellinon Str, Chalandri283, Kifisias Av, Kifisia
Total Portfolio: € 29,3M
Revenues (annualized): € 2,22M
Gross Yield (annualized): 7,6%
Occupancy: 97,8%
4
KPI’s
(amounts in € 000’s)
Notes: (1) Does not include revaluation profit and non-recurring listing expenses incurred in H1 2017 (2) H1 2018 includes an amount of €48K paid in repairs (H1 2017 : € 6K) and € 22K expenses incurred for new acquisitions
(amounts in €000's) 30.06.2018 Diff 30.06.2017 31.12.2017
No of Properties (#) 9 28,57% 7 9
Investments in Properties (B/S) 26.516 9,82% 24.144 26.168
(amounts in €000's) H2 20182018 vs
2017H1 2017 FY 2017
Revenues 1.003 6,3% 944 1.885
Operating Income 888 76,2% 504 1.758
EBITDA 892 75,9% 507 1.119
EBITDA (adj.) (1) (2) 552 -4,7% 579 1.250
EBT 888 67,2% 531 1.112
Net Profit (after tax) 779 82,9% 426 940
Funds from Operations (F.F.O.) 384 -29,0% 541 1.088
Gross Margin 88,5% 53,4% 93,3%
EBITDA (adj.) Margin 55,0% 61,3% 66,3%
EBITDA (adj.) / Properties 5,0%
EBT / Properties 4,5%
Net Profit / Properties 3,8%
5
Company Outlook
Grow RE Portfolio to over € 100M in the next 1-2 years
Raise new equity (€ 50-60M) to finance acquisitions
Use moderate leverage (< 40%)
Maintain gross yield at high levels (> 7,0%)
2,29 €
2,33 €
2,37 €
2,40 €
2,22 €
2,24 €
2,26 €
2,28 €
2,30 €
2,32 €
2,34 €
2,36 €
2,38 €
2,40 €
2,42 €
31.12.16 30.06.17 31.12.17 30.06.18
NAV per share
5% increase in 1,5 years
7
Share & Shareholders Structure
Closing Price € 1,85Closing price € 1,91
-20,00%
-15,00%
-10,00%
-5,00%
0,00%
5,00%
10,00%
15,00%
31/7/2017 31/8/2017 30/9/2017 31/10/2017 30/11/2017 31/12/2017 31/1/2018 28/2/2018 31/3/2018 30/4/2018 31/5/2018 30/6/2018
BriQ Properties General Index
Market Capitalization: € 22M
Number of Shares: 11.921.531
NAV / share (30.06.18): € 2,40
Closing share price (10.09.18): € 1,82
Discount to NAV: 24%
Dividend / share (paid 30.04.18): € 0,035
Th.Fessas52,2%
E.Koutsoureli
26,5%
FreeFloat21,3%
Disclaimer
This document might contain estimations and forward-looking statements relating to theCompany’s future business, development and economic performance. It also includes statementsfrom sources that have not been independently verified by the Company.
Such statements may be subject to a number of risks, uncertainties and other important factors,such as but not limited to:
Competitive pressures
Legislative and regulatory developments
Global and local macroeconomic and political trends
Fluctuations in currency exchange rates and general financial market conditions
Delay or inability in obtaining approvals from authorities
Technical development
Litigation
Adverse publicity and news coverage, which would cause actual development and results todiffer materially from the statements made in this document
BriQ Properties assumes no obligation to update or alter such statements whether as a result ofnew information, future events or otherwise.
Thank You
Address: 25, Al. Pantou Str., 176 71, Kallithea, Tel: +30 211 9991627Website: www.briqproperties.gr, e-mail: [email protected]