Montea Space for Growth

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1 Montea Space for Growth 1

2 Table of content About Montea Real estate portfolio Space for Growth: Main objectives & Pipeline Outlook Financials 2

3 About Montea REIT listed on the NYSE Euronext Brussels & Paris since Oct Development & Management of Logistic Real Estate Solutions in The Netherlands, Belgium and France Free Float 56% Family De Pauw 16% Belfius Insurance 9% Federale Verzekering 8% FV Portfolio of 631 million (*) ( 9,6 mio solar panels) Ethias 4% Patronale Life 7% Market Cap. of 525 million (**) (*) 30/09/2017 including developments & Solar panels (**) 30/09/2017 3

4 About Montea Warehousing Land value has a higher share in the total value than in other asset classes Life cycle of warehousing > than other asset classes Renovation cost < than other RE asset classes Pure Player Ambition to be best in class through specialisation (Logistics, Real estate & Finance) Ambition to be top of mind towards other market players (logistic players, brokers,... End Investor No speculative development Long term vision with focus on quality & sustainability Attractive landbank Shareholder Return Strong dividend track record Supported by stable reference shareholder base 4

5 Table of content About Montea Real estate portfolio Space for Growth: Main objectives & Pipeline Outlook Financials 5

6 Real estate portfolio: Transaction details - Delivered Build-to-Suit projects in 2017 Location: Aalsmeer (the Netherlands) Tenant: Scotch & Soda 5y Inv. Value of 8,6 million Building specs m² WH & Mezz m² additional WH 487 m² Offices Location: Brucargo Zaventem (Belgium) Tenant: DHL Aviation 15y Inv. Value of 30,5 million Building specs m² WH & Mezz m² Offices 6

7 Real estate portfolio: Transaction details - Delivered Build-to-Suit projects in 2017 Location: Brucargo Zaventem (Belgium) Tenant: SACO Groupair 9y Inv. Value of 3,6 million Building specs m² WH 800 m² Offices Location: Vorst (Belgium) Reconversion of existing site Tenant: Stylelabs 9y Inv. Value of 1,9 million Building specs m² Offices 7

8 Real estate portfolio: Transaction details - Delivered Build-to-Suit projects in 2017 Location: Tilburg (the Netherlands) Tenant: NSK 10y Inv. Value of 15,4 million Building specs m² WH m² Offices m² Mezzanine Location: Genk (Belgium) Tenant: Mainfreight 9y Inv. Value of 7,1 million Building specs m² WH 800 m² Offices 8

9 Real estate portfolio: Transaction details - Investments in 2017 Location: Willebroek (Belgium) Tenant: Metro Cash & Carry Belgium NV 27y Inv. Value of 8,8 million Building specs m² WH m² Offices Location: Alfortville (France) Tenant: BRARD 9y Inv. Value of 1,93 million Building specs m² WH 400 m² Offices 9

10 Real estate portfolio: Transaction details - Investments in 2017 Location: Willebroek (Belgium) Tenant: Decathlon 10y Inv. Value of 31,6 million Building specs m² WH m² Offices Location: Roissy Charles de Gaulle (France) Tenant: Facilit Air and Select Service Partners Inv. Value of 3,29 million Building specs. Facilit Air: 1,996 m² Select Service Partners: 1,006 m² 10

11 Real estate portfolio: Transaction details - Investments in 2017 Location: Etten-Leur (the Netherlands) Tenant: Bas Logistics 13y Inv. Value of 6 million Building specs m² WH m² Mezzanine + workplace 11

12 Real estate portfolio: Transaction details - New lease agreements in 2017 Location: Mechelen (Belgium) Tenant: LabCorp Unit 2 9y Building specs. lease agreement m² WH 570 m² Offices Location: Milmort (Belgium) Tenant: Parker Hannifin Manufacturing Belgium - 9y Building specs. lease agreement m² 12

13 Real estate portfolio: Transaction details - New lease agreements in 2017 Location: Willebroek (Belgium) Tenant: Nippon Express Belgium 9y Building specs. lease agreement m² WH 13

14 Table of content About Montea Real estate portfolio Space for Growth: Main objectives & Pipeline Outlook Financials 14

15 Space for Growth: Main objectives for 2017 Growth of Portfolio to 700 mio Portfolio > 95% occupancy rate Operational Margin of > 90% EPRA result 2017: 26,5 mio Gross dividend per share + 3% P&L Debt Ratio between 50%-55% B/S 15

16 Space for Growth: Ongoing Build-to-Suit projects (Delivery 2018) Location: Camphin-en-Carembault (France) Tenant: DSM 9y Danone 9y Inv. Value of 11.2 million Timing: Q Location: Camphin-en-Carembault (France) Tenant: Groupement des Bières Spéciales 15y Inv. Value of 14.4 million Timing: Q

17 Space for Growth: Ongoing Build-to-Suit projects (Delivery 2018) Location: Waddinxveen (the Netherlands) Tenant: Deltawines 12y Inv. Value of 3.3 million Timing: Q Location: Etten-Leur (the Netherlands) Tenant: Bas Logistics 12,5y Inv. Value of 8 million Building specs m² WH 1,470 m² Mezzanine + workplace 17

18 Space for Growth: Ongoing Build-to-Suit projects (Delivery 2018) Location: Bilzen (Belgium) Tenant: Carglass 15y Inv. Value of 25 million Timing: Q Location: Bornem (Belgium) Tenant: Edialux (Group Pelsis) 15y Inv. Value of 11 million Timing: Q

19 Space for Growth: Ongoing Build-to-Suit projects (Delivery 2018) Location: Schiphol Airport (the Netherlands) Tenant: Thomsen Select 10y Inv. Value of 7,12 million Timing: Q Location: Liège Airport (Belgium) Tenant: Malysse-Sterima 20y Inv. Value of 9,5 million (phase 1 & 2 out of 3) Timing: Q

20 Space for Growth: Ongoing Partnerships for new Built-to-Suit projects (2018/2019) Location: Antwerp (Belgium) Partnership between: DEME Bopro Montea Development of 6.5 hectare logistics zone Location: Oss (the Netherlands) Partnership between: Municipality of Oss Montea Development of 5 hectare logistics zone 20

21 Space for Growth: Ongoing Partnerships for new Built-to-Suit projects (2018/2019) Location: Tholen (the Netherlands) Partnership between: Municipality of Tholen Montea Development of 10 hectare logistics zone Location: Waddinxveen (the Netherlands) Partnership between: Wayland Real Estate Montea Development of 20.6 hectare logistics zone 21

22 Space for Growth: Ongoing Partnerships for new Built-to-Suit projects (2018/2019) Location: Vilvoorde, de Tyraslaan (Belgium) Acquisition of 59,500 m² plot of land along the Brussels Ring Road (R0) Development of 35,000 m² storage space Location: Liège Airport (Belgium) Partnership between: Liège Airport Montea Development of Flexport City 85 hectare New state-of-the art logistics park, located at Liege Airport. 22

23 Space for Growth: Ongoing Partnerships for new Built-to-Suit projects (2018/ ) Location: Tiel (the Netherlands) Letter of Intent to acquire m² plot of land in Tiel The plot of land comprises 3 parts: 9 hectares are let for a fixed period of 12.5 years to Struyk Verwo hectares will be re-rented by the seller after the transaction for a period of 5 years. De Kellen BV will deliver the land ready for construction upon request hectares will be delivered ready for construction immediately by the seller. This part is also available immediately for customized logistical development. The parties expect to close the transaction, after the due diligence, by Q Montea ultimately wishes to develop 25.5 hectares for logistics, distribution and production activities. The total lead time for the project is estimated at 4 to 6 years 23

24 Table of content About Montea Real estate portfolio Space for Growth: Main objectives & Pipeline Outlook Financials 24

25 Outlook 2017: EPS +4% - DPS +3% Evolution of EPRA result per share* & Dividend per share ( ) 1,84 1,84 1,93 1,97 1,97 2,03 2,11 2,17 1,79 1,82 2,00 2,05 1,97 2,29 2,47 2, * 2017* EPS DPS subject to AGM to be held on May 15,

26 Outlook 2017: with projects to reach 700 million Overview of FV Portfolio ( m) H Belgium France Netherlands

27 Table of content About Montea Real estate portfolio today Space for Growth: Main objectives & Pipeline Outlook Financials 27

28 Financials: Solid financing structure Debt ratio (%) Debt ratio 50,6% 50,1% 56,4% 47,6% 49,9% 51,3% 52,8% 52,1% 55,8% 51,6% 50,6% Q Bonds 31% Banks 69% generating a ROE of 6% 5,1 Maturity Financing Maturity (y) 7,1 Maturity hedging Well diversified long term financing Low risk Variable credit lines 94% hedged Total running financing cost of 3,0% (incl. fin. income and intercal. Intrests) Maturity credit lines & IRS Financing Hedging 28

29 Financials: P&L 29

30 Financials: EPRA result in line with expectations Evolution of EPRA result ( k) Evolution of EPRA result per share* & Dividend per share ( ) (* As of 2016: EPRA result per share instead of Net Current Result) CAGR +16% ,99 2,09 2,09 1,84 1,84 1,93 1,97 1,97 2,03 2, ,22 2,36 2,08 1,79 1,82 2,00 2,47 1,97 2,29 2,47 2, YE * YE 2017* DPS EPS 30

31 Financials: Balance sheet 31

32

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