3 0 J u l y 2 0 2 0 2020 half-year results
Introduction 2 Alcobendas - Madrid (Spain) Bay 2- France
In the context of the health crisis, several indicators are encouraging Three uncertainty factors "under control" Medium/long-term Length of shop Level of business recovery consequences for retail closings * in centres 17 March/11 May • Average footfall in June 2020 vs June • Strong recovery in household equipment 2019 at 87% in France 8 weeks • Retail brands experiencing difficulties, • +8 points vs Quantaflow France panel particularly in ready-to-wear 9 March/25 May to 8 June • -6% average change in revenue of • Insufficient visibility in leisure-restaurant 11 weeks retailers in France, Spain, Italy in June businesses 12 March/18 May 2020 vs June 2019** 9 weeks A limited closing period: Encouraging indicators Heterogenous performances on average two months * (*) Excluding essentials shops (**) Excluding leisure-restaurants 2 0 2 0 H A L F - Y E A R R E S U L T S 3
Carmila, the 3 rd largest listed shopping centre company in continental Europe, located at the heart of its regions A diversified and stable A major player in shopping Local shopping centres leaders in their regions shareholding structure centres in Europe Market value of assets, including transfer taxes at 31/12/19 81 % 5.68% (in € bn) 56.5 8.82% SA Sogecap Colony 35.33% 88 % 8.82% Carrefour Cardiff Assurance vie Assets located in the regions, always adjacent to the leader or co- 9.19% 23.7 CARREFOUR brand leader sites * Predica 9.8 6.4 32.16% 4.1 3.6 2.9 2.6 Public (*) Leaders: Leading shopping centre in its area in terms of number of commercial units (Codata) or shopping centre with more than 80 commercial units in France and 60 in Spain and Italy. Co-leader: non-leading shopping centre adjacent to a leading hypermarket in its area in terms of sales (Nielsen) or with revenues of over €100 million in France and €60 million in Spain and Italy. % of appraisal value, including transfer taxes, at 30/06/20 2 0 2 0 H A L F - Y E A R R E S U L T S 4
A varied portfolio of "large local shopping centres" offering strong visibility and business sustainability Broad geographic A portfolio of A varied and multiple-sized centres balanced portfolio diversity Breakdown of lease portfolio 15 215 sites - 3 countries by business sector** 125 Regional Shopping Local 8.3% Centres** Shopping Centres** 80 to 150 shops Services 18% 33.2% 32% 18.2% gross asset 82 % Clothing and 72% * France gross value 58.4 % Beauty, Health accessories 129 sites asset value 13.0% 5% * Italy in value of Regional 75 Shopping Centres and 8.4% Food & of service businesses, 8 sites Large Shopping Centres ** beauty-health, culture, Large Shopping Restaurants Household leisure and restaurants Centres** furnishings 40 to 79 shops 50% 18.9% Culture, gross asset value Gifts, Leisure 23% * Spain 19% Top 15 tenants *** 78 sites of gross rents (*) As % of appraisal value, including transfer taxes at 30/06/20 (**) CNCC classification - as % of appraisal value, including transfer taxes at 30/06/2020 (***) as % of annualised rents at 30/06/20 2 0 2 0 H A L F - Y E A R R E S U L T S 5
A number of achievements since Carmila was created in 2014 Transforming and creating local places Enhancing the range of retailers of living and services • 100% of centres refurbished around • 6,291 retailers to date Our mission the concept of “un air de famille" • 49 salespeople in 10 regions and 3 • 20 extension projects delivered countries Through our proximity, • 89% of customers satisfied with their visit * • A local, adapted approach: franchise, simplify and enhance pop-up, etc. Connecting up retailers everyday life Innovating and investing for tomorrow and consumers for retailers and customers • 24 centres acquired since 2014 • > 760 marketing initiatives per month in all our regions to help retailers • 81 stores developed by Carmila • €3 to 5 million invested in local digital Retail Development marketing initiatives • Diversification of activities: health, TowerCo Over 2014-2019 Ensure a robust yield Average annual growth of FFO +7.9% Growth in Financial Occupancy Rate +10% and growth Average organic growth +2.7% (*) Barometer Studies Carmila 2019 2 0 2 0 H A L F - Y E A R R E S U L T S 6
A strengthened CSR strategy addressing the socio-economic challenges 1 st CSR Committee at the Board of Directors on 25 June 2020 For the Planet For the Regions For Employees From the From partnerships From "Well-being BREEAM certification... with the charity sector... at work"... ...to the fight against ...to a reasoned offering ...to workplace equality climate change (local, sustainable, eco- 90 on the workplace equality responsible, etc) index by 2022 Reducing 50% of our greenhouse gas in each centre by 2022 emissions by 2030 (scopes 1 and 2) 2 0 2 0 H A L F - Y E A R R E S U L T S 7
Activity during the 1 st half of 2020 8 Bay 2 – Torcy Collégien (France) Orléans Place d’Arc (France) Brianza - Italy
Carmila's shopping centres, that are anchored in their regions, take benefit from the situation Footfall January- Footfall During February 2020 June 2020 lockdown vs January-February 2019 vs June 2019 Local Large Regional centres centres centres 20 to 39 stores 40 to 79 stores 80 to 149 stores +3.3% -13.0% Carmila centres -11,7% -12,7% -16,8% National benchmark +1.8% -20.8% -21,8% -18,1% -24,0% index Quantaflow panel Centres that remained open to the public Accelerated recovery +3.8% -25.0% to access the Carmila centres of flows in France hypermarket thanks to the start National benchmark -0.6% -36.9% and essential index Footfall of summer sales: shops 100% of footfall during the 1st week -0.6% -24.7% Carmila centres of the sales Carrefour panel from 15 to 21 July 2020 -2.8% -27.9% benchmark vs 17 July to 23 July 2019 2 0 2 0 H A L F - Y E A R R E S U L T S 9
Encouraging retailer activity... A positive momentum in revenues An encouraging recovery despite before the health crisis the postponement of the summer sales Change in Carmila retailers' revenues Change in Carmila retailers' revenues over January/February 2020 vs January/February 2019 over June 2020 vs June 2019 excluding food/restaurants Food +4.4% restaurants +1.0% -4.2% Health- Health- +2.9% -0.6% beauty beauty +3.8% Culture, gifts, -9.8% Culture, gifts, -1.3% +3.5% leisure leisure Clothing Clothing -0.6% -21.4% and accessories and accessories +1.3% -10.7% Household Household +3.2% +22.9% furnishings furnishings +1.7% -6.0% Major grocery stores Major grocery stores -0.6% +12.9% and large stores and large stores 2 0 2 0 H A L F - Y E A R R E S U L T S 10
...supported by a strong, continuous ...to support the digital presence attractiveness of our stores Being there when customers are seeking shopping information near the centre 36.4 million + 22 % of Google My Business searches displaying our web pages over H1 2020 vs H1 2019 Building loyalty by enhancing and qualifying our data 3.18 million 4,700 +24% points of contact in the local databases operations in H1 2020 vs H1 2019 Engaging with our local communities 27,400 Facebook posts ( +60% vs H1 2019) generating 68 million impressions 16.6 million customer emails sent Local and multi-local initiatives + 117 % carried out on behalf of retailers vs H1 2019 25 local Instagram ambassadors 2 0 2 0 H A L F - Y E A R R E S U L T S 11
A satisfying letting dynamic despite three blocked months... Dynamic ...a diversified ... and a resilient letting activity... merchandising mix… occupancy rate Financial Occupancy Rate Number of leases signed Over H1 2020, excluding strategic vacancies in H1 2020 % of leases signed* including 132 vacants and 96 renewals Health Beauty = 33% 233 30/06/2020 31/12/2019 30/06/2019 Annual minimum guaranteed rent: €11.3 million Reversion: 6.3% Culture Gifts = 27% 95.6% 95.9% 95.3% 71 vacant units let 95.8% 96.4% 96.5% An active start to the year in Jan/Feb (vs 54 in 2019) 97.9% 98.8% 97.7% 95.8% 96.3% 95.8% 37 units signed An encouraging recovery since the end of lockdown (*) In rental value 2 0 2 0 H A L F - Y E A R R E S U L T S 12
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