Deutsche Konsum REIT : Annual report 2023/2024

Published: 2024-12-19 00:36:04 ET DKG.DE

FY 2023/2024 FINANCIAL RESULTS

1 October 2023 - 30 September 2024

19 December 2024

HIGHLIGHTS

HIGHLIGHTS FY 2023/2024

FY 2023/2024 highlights and results

Stable operational business / FFO impacted by higher debt costs

Debt reduction by about 88.6 MEUR (-14% YoY ), also from sales proceeds

Refinancing of maturing bonds finalized

Obotritia Capital repayments

KPIs remain solid / LTV to be reduced in the next quarters

FFO guidance for the FY 2023/2024 confirmed

FY 2023/2024 financial results | Deutsche Konsum REIT-AG

FINANCIAL KEY FIGURES

Slight decline of Rental Income due to property sales; FFO also impacted by rising financing costs

Rental income

FFO

FFO per share

(k EUR)

(EUR)

79.722

77.438

33.131

0,94

27.963

0,80

FY 2022/2023 FY 2023/2024FY 2022/2023 FY 2023/2024FY 2022/2023 FY 2023/2024

aFFO per share

Investment properties

EPRA NTA per share

(fully diluted)

(EUR)

(k EUR)

(EUR)

1.050.709

10,98

995.364

0,44

886.176

7,64

7,55

0,32

FY 2022/2023

FY 2023/2024

30.09.2022 30.09.2023 30.09.2024

30.09.2022 30.09.2023

30.09.2024

FY 2023/2024 financial results | Deutsche Konsum REIT-AG

PROPERTY PORTFOLIO

Property portfolio consists of 167 properties with approx. 984,200 sqm

>> Portfolio development:

30/09/2022

30/09/2023

30/09/2024

Number of properties

175

184

167

Rental space (sqm)

1,048

1,083

994

Total fair value (MEUR)

1,050.7

996.9

886.2

Fair value per sqm (EUR)*

1,002

921

908

Valuation multiple

14.2x

12.6x

12.5x

Total annualized portfolio

73.2

79.2

69.7

rent (MEUR)

In-place-rent per sqm per

6.60

6.82

6.85

month (EUR)

Vacancy rate (%)

11.7

14.0

WALT (years)

5.2

5.0

4.4

* The cost of building new properties is usually more than 1,800 EUR per sqm

Schleswig-

Mecklenbu

Holstein

rg-

Pommeran

Lower

Saxony

Saxony-

AnhaltBrandenbu

Northrhinerg

Westphalia

Saxony

Thuringia

Hesse

Rhinela nd- Palatina te

Bavaria

Baden-Wurttemberg

Portfolio as of 30/09/2024 (167 properties)

Notarized sold assets as of 30/09/2024 (3 properties)

FY 2023/2024 financial results | Deutsche Konsum REIT-AG

PROPERTY PORTFOLIO

Annualized rent and vacancy negatively effected by the insolvency of warehouse group "real", property sales

Annualized rent (m EUR)

Vacancy (%)

72,9

73,2

79.2

69,7

63,1

9.9

10.7

11,7

14,0

11.7

30.09.2020

30.09.2021

30.09.2022

30.09.2023

30.09.2024

Initial yield (%)

10,5 10,3 10,0 10,0 10,0

30.09.2020 30.09.2021 30.09.2022 30.09.2023 30.09.2024

WALT (years)

5,4 5,5 5,2 5,0

4,4

30.09.2020

30.09.2021

30.09.2022

30.09.2023

30.09.2024

30.09.2020

30.09.2021

30.09.2022

30.09.2023

30.09.2024

FY 2023/2024 financial results | Deutsche Konsum REIT-AG

TENANT STRUCTURE

66% Rent contribution from non-cyclical tenants (79% including DIY)

>> Rent contribution by tenant classification (m EUR)1:

>> Rent contribution by major tenants1 :

Other cyclical

uses

14,7

9,1

DIY-stores

8,1

Other non-

4,0

cyclical uses2

Health sector

Non-

cyclical

rents

Food retail

25,8

8,1

Non-food discounters

Tenant group

Brands

Rent

WALT

(m EUR)

in years

Edeka Group

7.7

4.3

Schwarz Group

11.4

5.2

Rewe Group

3.2

4.5

Metro Group

0.9

4.4

ALDI

0.8

5.2

Norma

0.7

2.5

Others

1.0

3.4

Food retail

25.8

4.7

Hellweg

3.7

9.3

Rewe Group

2.0

2.7

Tengelmann Group

1.3

4.2

Others

2.0

6.9

DIY stores

9.1

6.6

Tengelmann Group

1.1

3.9

H.H. Group

2.5

3.8

Others

4.6

4.4

Non-food discounters

8.1

4.2

FY 2023/2024 financial results | Deutsche Konsum REIT-AG

TENANT STRUCTURE

Resilient rental income/ 49% in 5+ year leases 1

Rent p.a. MEUR

without expiration

• WALT as of 30 September 2024: 4.4 years

1 Based on current portfolio (167 properties)

FY 2023/2024 financial results | Deutsche Konsum REIT-AG

Disclaimer

Deutsche Konsum REIT AG published this content on December 19, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on December 19, 2024 at 05:35:03.433.