rd quar 3 rd quarter er 2019 2019 re results pr presen esentati - PowerPoint PPT Presentation

rd quar 3 rd quarter er 2019 2019 re results pr presen esentati tion on 12 December 2019

Ag Agenda enda I Financi Financi nancial and nancial and and Oper and Oper Operatio Operatio iona iona nal Hi nal Hi Highli Highli ghligh ghligh ghts ghts ts Q3 ts Q3 Q3 2019 Q3 2019 2019 2019 3 II II II II Portf Portf rtfolio rtfolio lio Upda lio Upda Update Update 7 III III III III Financi Financi nancial Re nancial Re Results Q3 Results Q3 Q3 2019 Q3 2019 2019 2019 15 15 15 15 IV IV IV IV Outloo Out Out Outloo ook ook 24 24 24 24 V Appendix Appendix Appendix Appendix 27 27 27 27 2 Consus Co nsus Re Real Es Estate AG AG

Titel I. I. Fi Financi nancial and and Oper Operational ional High Highligh lights Q3 Q3 2019 2019 Co Consus nsus Re Real Es Estate AG AG VAI Campus in Stuttgart with a GDV of €1,127m the largest development project of Consus

I. I. Q3 Q3 2019 2019 Highlig lights – C – Consus deliv liverin ing on on its its st strate tegy Q3 Hi Q3 Q3 Hi Q3 Highlights Highlights ghts ghts Portfolio Update Results Q3 2019 Outlook Appendix Fi Financi nancial High Highlig lights – continued gro rowth tra rajectory  To Total revenue nue of of € 525. 525.0 million llion (Q3 2018 : € 170.6 million), ov over erall all perf performance nce of of € 608. 608.6 millio llion (Q3 2018 : € 327.5 million) – Growth of 209%  Adj Adjusted ed EB EBITD ITDA of of € 285. 285.2 million llion (Q3 2018 : € 93.4 million) reflecting upfront sale of Leipzig plus income from property development – Adjusted EBITDA margin of 54%  Pr Pro Fo Form rma Adj Adjusted ed LT LTM EBIT EBITDA (“PF LTM EBITDA”) of € 438 438 million llion (FY 2018: € 246 million) – Reflecting income from property development, plus Leipzig upfront sale and benefit of upfront sale in Q4 2018  Pr Pro Fo Form rma LT LTM Adj Adjusted ed Net Net Inco come me of of € 127 127 million llion, and reported Net Net Inco come me of of € 29 29 millio llion, reflecting increasing profitability as business grows Continue Co nued st strong gr growth th in in th the business business 4 Consus Co nsus Re Real Es Estate AG AG

I. I. Q3 Q3 2019 2019 Highlig lights – C – Consus deliv liverin ing on on its its st strate tegy Q3 Hi Q3 Q3 Hi Q3 Q3 Q3 Hi Q3 Hi Q3 Highlights Highlights Highlights Highlights ghts ghts ghts ghts Portfolio Update Portfolio Update German Real Estate Results Q3 2019 Results Q3 2019 Outlook Appendix Outlook Fi Financi nancial High Highlig lights – del elev ever eraging aging in in pr progr ogress  Sig Significan ificant reduct reduction in in le leve verage : Net Net debt debt / PF PF LTM LTM EB EBITD ITDA reduced reduced to to 5.7x 5.7x (Q2 2019: 7.8x) – Reflects strong upfront sales and strength of portfolio – Includes benefit of Q3 2019 and Q4 2018 upfront sales  Net debt reduced marginally to € 2,480 million (H1 2019: € 2,503 million)  Averag Average run run ‐ rate rate in intere rest rate rate at at 7.9% 7.9%, dow down 60 60 basis basis point points seque sequentially ially – Q2 2019 : 8.5% reflecting impact of bond issuance  Hig High co cost me mezzani zzanine ne debt debt reduced reduced by by over over € 125 125 millio million in the third quarter 2019 to further reduce interest rate – Amount of high cost mezzanine targeted to be no longer be material by end H1 2020 – Consus medium term target to reduce financing costs by 200 basis points to c. 6%  ‘Tap’ of € 50 million senior secured notes in October to further reduce average interest rate going forward Deleveraging and Del and re reduction in in in interest rate rate dem demons nstr trating ing im improved ed fin financ ncin ing ef effici ciency ency and and re repayment of of expe pensi nsive debt debt 5 Consus Co nsus Re Real Es Estate AG AG

I. I. Q3 Q3 2019 2019 Highlig lights – C – Consus deliv liverin ing on on its its st strate tegy Q3 Hi Q3 Q3 Hi Q3 Highlights Highlights ghts ghts Portfolio Update Results Q3 2019 Outlook Appendix Portfolio lio High Highlig lights and and re recent nt dev develo lopm pmen ents ts  Continued Co ntinued port portfolio folio grow growth: th: GDV GDV (1) (1) in incr creases from € 10.0 billion to € 10.3 billion, with further project acquisitions in progress  Market Ma rket Gros Gross Asse Asset Val Value of of € 3.39 3.39 billi illion as at 30 September (H1 2019: € 3.28 billion)  Forwar For ard Sale Sales vo volu lume at at € 2.8 2.8 billio billion (H1 2019: € 2.8 billion) with three new Forward sale LOIs signed post September 30, 2019 bringing the total of both forward sales signed and LOI’s signed to €419 million for the year to date.  Six projects, with a total GDV GDV of of c. c. € 650 650 millio million, curren currently ly in in negot negotiat atio ion for for a for forward sale sale  Successful closure in July of upfront sale in Leipzig, with c. € 160 million of net debt repaid and significant profit – Further upfront sale expected to sign in Q1 2020  Berlin (13% of portfolio) market update: no material impact expected on Consus business model due to focus on new built residential  Targ Target €450 €450 mill millio ion Adj Adjust sted ed EB EBITD ITDA in in 2020 2020 Outlook ook  Targ Target Net Net Debt Debt / Adj Adjust sted EB EBITD ITDA of of c.3 c.3x in in the the me medi dium um ter term co conf nfirmed med  Targ Target Adj Adjusted ed EB EBITD ITDA ma marg rgin in of of 20% 20% (1) As of September 30, 2019, Includes one projects signed but not yet closed. On a 100% basis 6 Consus Co nsus Re Real Es Estate AG AG

Titel II. II. Portf rtfolio lio Upda Update Co Consus nsus Re Real Es Estate AG AG ‚Königshöfe im Barockviertel‘ in Dresden forward sold to institutional investor with a GDV of €68m

II. II. Consus Consus ‐ the the le leadin ing re real es estate de developer per in in Ger German any Q3 Highlights Portfolio Por Por Portfolio lio Upda lio Upda pdate pdate Results Q3 2019 Outlook Appendix Ke Key financi nancials + KPIs KPIs Portf rtfolio lio wi with in increased sh share of of Fo Forwar ard sal sales € 10. € 10. 10.3 billio 10.3 billio illion GD illion GD GDV (1) GDV (1) (1) (1) € 2.8 € 2.8 2.8 billio 2.8 billio billion billion € 450 € 450 450 millio 450 millio illion illion dev develo dev develo lopment lopment ITDA (4) ITDA (4) (4) (4) GDV in GDV GDV in GDV in fo in fo forward sal forward sal sales vo sales vo volum volum lume lume Target Target eted eted ed Adju ed Adju Adjusted EBITDA Adjusted EBITDA port po port po rtfo rtfo folio folio lio acro lio acro across across Ta Targ rget Forw Forward Sales Sales (3) (3) Forw Forward Sold Sold (2) (2) 67 67 67 pro 67 pro contr contr co co ntracted + LO ntracted + LO LOI (2) LOI (2) (2) (2) 2020 2020 2020 2020 projects projects 42% 42% 27% 27% GD GDV: 3bn (1) (1) €10. €10.3bn ~20% ~20% ~20% ~20% 3.0x 3.0x 3.0x 3.0x € 3.39 € 3.39 3.39 billio 3.39 billio billion billion Target Target eted eted ed Mediu ed Mediu edium ‐ te edium ‐ te term term rm rm Target Target eted eted ed Mediu ed Mediu edium ‐ te edium ‐ te term term rm Ne rm Ne Net Net Market Ma Ma Market et GAV et GAV GAV (5) GAV (5) (5) (5) Adju Adju Adjusted EBIT Adjusted EBIT EBITDA margi EBITDA margi margin margin Debt / Adju Debt Debt Debt / Adju Adjusted EBITDA Adjusted EBITDA TDA TDA Con Condomini nium um sal sales Up Upfront front sal sale LO LOI si signed gned 22% 22% 9% 9% Co Consus nsus continues ntinues to acqui uire attr ttracti active ve de developm pment ent projects… cts… Breakdown of Breakdo of the the develo developm pment ent port portfolio folio by by city city (3) € billion (1) Dres Dresden 10.3 10.3 1.2 1.2 Munich unich 10 3.5 3.5 3% 3% 5% 5% 9 Hamburg Ha mburg Dussel sseldorf orf 0.8 0.8 19% 19% 8 10% 10% 7 0.9 0.9 Col Cologne gne 6 67 pr 67 proj ojects ects 0.7 0.7 11% 11% 5 4.6 4.6 in tot in total (6 (6) Stut Stuttgart 4 Leipzig Leipz 21% 21% 5% 5% 3 2 Frank Frankfurt urt 1 13% 13% Berlin lin 0 13% 13% GDV as of Dec Organic Organic SSN Closing upfront New GDV 2017 acquisitions acquisitions acquisition sale Q3 acquisitions H1 2018 H2 2018 YTD (1) As of September 30, 2019, including acquisition signed but not yet closed. On a 100% basis; (2) Incl. Forward sales in negotiation and LOI signed of €820m and pre ‐ sold condominiums of €210m; (3) Including yielding assets, which will be sold over time; (4) EBITDA pre Purchase Price Allocation (PPA) and pre one ‐ off costs; (5) Based on Market GAV of the Consus property assets on 100% basis as estimated by management as of September 30 2019 (6) Dortmund is included in Düsseldorf, Erfurt is included in Leipzig; Böblingen, Karlsruhe and Mannheim are included in Stuttgart, Bayreuth and Passau are included in Munich, Offenbach is included in Frankfurt am Main 8 Consus Co nsus Re Real Es Estate AG AG