COMPANY PRESENTATION
January 2014
Core expertise: development, ownership and management of large and modern office properties in Central Europe
Three core regions: Austria, Germany, CEE
Six core countries: Austria, Germany, Poland, Hungary, the Czech Republic, Romania
Focus on office properties
Total property assets: EUR 4 bn
Investment portfolio (income-producing): EUR 3.4 bn
2
CA Immo Group at a glance Office specialist in Central Europe
BUSINESS PROFILE
* Slovakia, Serbia, Bulgaria, Slovenia, Croatia, Switzerland
MARKET PROFILE
Market capitalisation: approx. EUR 1.2 bn
Listed on the Vienna Stock Exchange since 1988 (ATX member since March 2011)
Bloomberg: CAI:AV
Reuters: CAIV.VI
ISIN: AT0000641352
18%
32%
50%
Total property assets (FV)
Austria
Germany
CEE
18%
50%
32%
Shareholder structure
UniCredit Bank Austria
Retail shareholders
Instututional shareholders
32%
18%14%
10%
10%
9%
7%
Total property assets (FV)
Germany
Austria
Poland
Romania
Hungary
Czech Republic
Other*
72%
28%
Investment portfolio (FV)
Office
Other
PORTFOLIO
Total property asset base of approx. EUR 4 bn at year-end
Germany accounts for largest single market share
Regional exposure has shifted towards CEE post sale transactions in Germany
The Eastern European and German property portfolios should be rebalanced over the next two years to achieve an equal weighting with the Austrian exposure remaining largely stable (asset sales in CEE, portfolio growth through German developments)
4
Portfolio Total property portfolio
PROPERTY PORTFOLIO
* Slovakia, Serbia, Bulgaria, Slovenia, Croatia, Switzerland
18%
32%
50%
Exposure by region (FV)
Austria
Germany
CEE
32%
18%14%
10%
10%
9%
7%
Exposure by country (FV)
Germany
Austria
Poland
Romania
Hungary
Czech Republic
Other*
13%
8%
8%
11%
12%8%
10%
10%
20%
Exposure by city (FV)
Vienna
Munich
Frankfurt
Berlin
Warsaw
Prague
Budapest
Bucharest
Other
0
200
400
600
800
1.000
1.200
1.400
Germany Austria Poland Romania Hungary Czech Republic
Other*
Property portfolio (fair value, EUR mn)
Further enhancing market position in existing core markets has clear priority over new market entries
Increasing portfolio share of high-quality office properties to drive operational efficiency
Disposal of Hesse-Portfolio has reduced exposure to secondary cities
Partial sale of Tower 185 has improved the risk profile of the portfolio (lower concentration/location risk)
5
Portfolio Investment portfolio*
STRATEGIC PORTFOLIO TARGETS
** Slovakia, Serbia, Bulgaria, Slovenia, Croatia
0
100
200
300
400
500
600
700
800
900
Austria Germany Poland Hungary Romania Czech Republic
Other*
Investment portfolio (fair value, EUR mn)
Total Office
20%
24%56%
Split by region(FV)
Austria
Germany
CEE
72%
12%
7%
6%
1% 2%
Split by sector (FV)
Office
Logistics
Retail
Hotel
Residential
Other
20%
24%
17%
12%
11%
9%
7%
Split by country (FV)
Austria
Germany
Poland
Hungary
Romania
Czech Republic
Other**
* income-producing properties
Large-scale, energy-efficient, modern office space
Centrally located, well-connected to public transport
Multi-tenant
Managed internally by local asset management team
6
Portfolio Core markets and assets
CORE OFFICE
* Slovakia, Serbia, Bulgaria, Slovenia, Croatia
0
100
200
300
400
500
600
700
800
Vienna Munich Frankfurt Berlin Warsaw Prague BudapestBucharest Other
Core markets (fair value, EUR mn)
Total Office
16%
6%
5%
8%
12%
9%
12%
11%
21%
Core markets (FV)
Vienna
Munich
Frankfurt
Berlin
Warsaw
Prague
Budapest
Bucharest
Other
12%
6%
8%
9%
19%10%
13%
10%
13%
Core markets - office assets (FV)
Vienna
Frankfurt
Munich
Berlin
Warsaw
Prague
Budapest
Bucharest
Other
13%
25%
19%
13%
10%
10%
10%
Core segment - office (FV)
Austria
Germany
Poland
Hungary
Romania
Czech Republic
Other*
7
Portfolio Investment portfolio
8,8%8,0%
7,4% 7,0%6,6% 6,6%
6,0%
7,0%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
Romania Czech Republic
Hungary Poland Germany Other* Austria Total
Gross initial yields
6,4%
11,5%
20,3%
14,8%
4,0%
23,4%
5,1%
11,2%
0%
5%
10%
15%
20%
25%
Romania Czech Republic
Hungary Poland Germany Other* Austria Total
Vacancy
0
20
40
60
80
100
120
140
160
180
Tower 185 (Frankfurt)
Skygarden (Munich)
River Place (Bucharest)
Lipowy Office Park (Warsaw)
H&M Logistik
(Hamburg)
Europolis Park 1
(Bucharest)
Rennweg 16 (Vienna)
Kavci Hory (Prague)
Spreebogen (Berlin)
Warsaw Towers
(Warsaw)
Capital Square
(Budapest)
Galleria (Vienna)
Saski Crescent (Warsaw)
Bucharest Business
Park
Europolis Park 1
(Blonie)
Top 15 properties (fair value, EUR mn)
* Slovakia, Serbia, Bulgaria, Slovenia, Croatia
Clear focus on capital Vienna
Office properties match well with market segment mainly sought-after
Strong position in terms of occupancy versus peers
Major tenants: Österreichische Post, Verkehrsbüro, Robert Bosch AG, UPC, Siemens, Peek & Cloppenburg
8
Investment portfolio Austria
MARKET POSITION
FV investment properties: EUR 696 mn
Investment portfolio share: 20.6% (FV), 16% (sqm)
Lettable area: 322,163 sqm
Occupancy: 95%
Gross initial property yield: 6%
PORTFOLIO METRICS
Rennweg 16, Vienna Galleria, Vienna Silbermöwe/Lände 3, Vienna
47%
27%
16%
4%6%
Investment portfolio (FV)
Office
Retail
Hotel
Residential
Other
55%
18%
15%
5%7%
Investment portfolio (sqm)
Office
Retail
Hotel
Residential
Other
Focus on Munich, Frankfurt, Berlin
High portfolio quality on the back of own developments
Major tenants: PWC, Total, H&M
9
Investment portfolio Germany
MARKET POSITION
PORTFOLIO METRICS
FV investment properties: EUR 800 mn
Investment portfolio share: 23.6% (FV), 18% (sqm)
Lettable area: 366,120 sqm
Occupancy: 96%
Gross initial property yield: 6.6%
Skygarden, Munich Tower 185, Frankfurt Tour Total, Berlin
79%
17%
2% 2%
Investment portfolio (FV)
Office
Logistics
Hotel
Other
55%
42%
2% 1%Investment portfolio (sqm)
Office
Logistics
Retail
Hotel
Size: top-tier office market position in core markets
Location: investments focussed on central locations in major CEE capitals
Experience: proven track record since early nineties
Network: close ties with key industry players and occupiers (local asset management)
10
CEE Investment portfolio
COMPETITIVE ADVANTAGE IN CEE
* Slovakia, Bulgaria, Slovenia, Croatia
0
100
200
300
400
500
600
Poland Hungary Romania Czech Republic
Serbia Croatia Bulgaria Slovakia Slovenia
Investment portfolio (fair value, EUR mn)
Total Office
25%
14%
16%
13%
32%
Core markets (FV)
Warsaw
Prague
Budapest
Bucharest
Other
30%
21%20%
16%
4%
9%
Investment portfolio (FV)
Poland
Hungary
Romania
Czech Republic
Serbia
Other*
31%
17%20%
16%
16%
Office portfolio (FV)
Warsaw
Prague
Budapest
Bucharest
Other
8,8%8,0% 7,8%
7,4% 7,0%
6,0%
7,6%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
Romania Czech Republic
Serbia Hungary Poland Other* Total
Gross initial yields by country
6,4%
11,1% 11,5%
14,8%
20,3%
29,9%
14,8%
0%
5%
10%
15%
20%
25%
30%
35%
Romania Serbia Czech Republic
Poland Hungary Other* Total
Vacancies by country
8,7%
7,8% 7,7%7,3% 7,0%
5,8%
7,4%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
Romania Serbia Hungary Czech Republic
Poland Other** Total
Gross initial yields by country (office)
3,8%
11,1%
14,9%12,0% 10,8%
31,9%
12,7%
0%
5%
10%
15%
20%
25%
30%
35%
Romania Serbia Hungary Czech Republic
Poland Other** Total
Vacancies by country (office)
CEE Investment portfolio
** Slovakia, Bulgaria, Croatia * Slovakia, Bulgaria, Slovenia, Croatia
11
10,5%
7,6% 7,4%
0%
2%
4%
6%
8%
10%
12%
Retail Logistics Office
Gross initial yields by sector
12%
25%
13%
0%
5%
10%
15%
20%
25%
30%
Retail Logistics Office
Vacancy by sector
Major office investor in Warsaw with around 200,000 sqm of lettable space
Largest share in Warsaw CBD office sector
Robust and diversified tenant base (around 180 tenants)
Major tenants: Unicredit – Pekao SA, Societe General, Procter & Gamble, Accenture, Linklaters, Shell, Imperial Tobacco, BRE Bank (Commerzbank), Jones Lang Lasalle, Chartis, IBM, Bayer
12
CEE Poland
MARKET POSITION
FV investment properties: EUR 561 mn
Investment portfolio share: 16.6% (FV), 20.5% (sqm)
Lettable area: 415,884 sqm
Occupancy: 85.2%
Gross initial yield: 7.0%
PORTFOLIO METRICS
85%
15%
Investment portfolio (FV)
Office
Logistics
40%
60%
Investment portfolio (sqm)
Office
Logistics
Lipowy Office Park, Warsaw
Warsaw Towers, Warsaw Saski Crescent, Warsaw
Among top 3 office investors
On average, the office vacancy is half of the market level currently
All real estate management services in-house is key in challenging market environment
Major tenants: IBM, Novartis, HP
13
CEE Hungary
MARKET POSITION
PORTFOLIO METRICS
FV investment properties: EUR 396 mn
Investment portfolio share: 11.7% (FV), 15% (sqm)
Lettable area: 305,016 sqm
Occupancy: 79.7%
Gross initial yield: 7.4% 77%
20%
3%
Investment portfolio (FV)
Office
Logistics
Retail
51%43%
6%
Investment portfolio (sqm)
Office
Logistics
Retail
Capital Square, Budapest Infopark, Budapest IP West, Budapest
Among top 3 office investors
River City project (Danube House, Nile House and Amazon Court) stands out in quality terms
Amazon Court is the only building with Gold DGNB certificate
Major tenants: Deloitte, Adastra, Equa Bank, Mondeléz, Expedia Services, ICZ, Wüstenrot. Net4Gas, Rockwell, Fiat, Good Data, BSH, Ahold, HOE, ebay, Procter and Gamble
14
CEE Czech Republic
MARKET POSITION
PORTFOLIO METRICS
FV investment properties: EUR 306 mn
Investment portfolio share: 9.1% (FV), 7.4% (sqm)
Lettable area: 149,337 sqm
Occupancy: 88.5%
Gross initial yield: 8% 75%
21%
4%
Investment portfolio (sqm)
Office
Retail
Other
84%
13%
3%
Investment portfolio (FV)
Office
Retail
Other
Amazon Court/River City, Prague Kavci Hory, Prague Danube House/River City Prague
Among top 3 office owners in Bucharest
Representative office projects of medium size (15,000-48,000 sqm), distributed over key business districts in Bucharest
Market outperformance of both office and logistics segment
Major tenants: Orange, GlaxoSmithKline, Carrefour, British American Tobacco
15
CEE Romania
MARKET POSITION
PORTFOLIO METRICS
FV investment properties: EUR 376 mn
Investment portfolio share: 11.1% (FV), 16.3% (sqm)
Lettable area: 330,254 sqm
Occupancy: 93.6%
Gross initial yield: 8.8%
67%
31%
2%
Investment portfolio (FV)
Office
Logistics
Retail
32%
65%
3%
Investment portfolio (sqm)
Office
Logistics
Retail
Riverplace, Bucharest Europehouse, Bucharest Bucharest Business Park
Non-core from a strategic point of view
Currently highest sectoral vacancy is expected to improve considerably in the short-term
Major tenants: Henkel, Nestle, GlaxoSmithKline, NCR, Fox Broadcasting, Johnson Controls
16
CEE Other countries
MARKET POSITION
PORTFOLIO METRICS
FV investment properties: EUR 250 mn
Investment portfolio share: 7.4% (FV), 7.1% (sqm)
Lettable area: 142,919 sqm
Occupancy: 76.6%
Gross initial yield: 6.6%
94%
6%
Other countries (FV)
Office
Hotel
87%
13%
Other countries (sqm)
Office
Hotel
17%
6%
34%
20%
23%
Other countries (FV)
Slovakia
Slovenia
Serbia
Bulgaria
Croatia
STRATEGY
A period of rapid growth follows a consolidation phase in order to achieve a higher profitability and sharper profile
2013: portfolio cut of more than EUR 1 bn major step towards portfolio realignment and achievement of debt level targets
The strategic acquisitions in recent years have shaped a scalable portfolio and competence platform
2014 onwards: Organic growth driven by development pipeline in Germany and optimisation of investment portfolio
18
Strategy Growth
GROWTH CONSOLIDATION GROWTH
Hesse – Portfolio (2006)
Market entry Germany Access to land reserves in German inner city locations
Deepened development expertise
Vivico (2008)
Critical size in major Eastern European capitals
Strengthened recurring cash flow
Europolis (2011)
Strong investment portfolio in 8 major Central European cities
Fully-integrated property player covering entire real estate value chain
CA IMMO 2014 +
0
1.000
2.000
3.000
4.000
5.000
6.000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013e
Portfolio growth (fair value, EUR mn)
Austria Germany CEE
19
Strategy Performance model
Development
Attractive dividend yield
Dividend payout 2% of NAV
Solid dividend cover by recurring FFO
Driven by pipeline delivery and rental growth
Investment portfolio Capital recycling
Sustainable income
Focus on high-quality office
Dominant player in principle cities in
Central Europe
Active asset management opportunities
High development expertise
Creating core instead of buying it
Key driver of valuation uplift
Valuable source of earnings growth
Ongoing portfolio adaptation
Recycling capital into higher growth
opportunities
Deploy proceeds to fund pipeline
Cycle-optimised sales of mature assets
with limited upside
Earnings growth
NAV growth
Dividend growth
CA Immo
Core expertise: development, ownership and management of large and modern office properties in Central Europe
Fully integrated property player
Core strength 1: Development business in Germany
Core strength 2: Office property holdings in CEE (deep market knowledge, strong market position in core segment)
Core strength 3: Local asset management (closer ties to relevant market participants)
20
Strategy Strategy 2012-2015
CORE EXPERTISE AND CORE STRENGTHS
KEY TARGET ROE INCREASE
Increased portfolio focus to enhance efficiency and fully capitalise on core competence
Further institutionalize development business as major organic growth source
Restructure and optimise debt profile
Achieve higher earnings quality rising recurring income portion of FFO
ROE Portfolio focus
Development
Financing
Property development Investment
portfolio
Capital recycling
1
3
2
21
Strategy Strategy 2012-2015
Strategic asset sales
Portfolio focus
Development
Financing
Optimisation and sale of non-strategic assets
Focus on office in core locations
Streamlining development activities
Monetising land reserves
Recurring cash flow driver
Optimization of financing structure
Reducing cost of funding
Closing of 2013 property transactions
2
1
Higher recurring profitability
Lower earnings volatility
Higher dividend capacity
Stronger equity base
Lower company risk
Strategic agenda
3 core regions
6 core countries
Property assets of at least EUR 300 mn per core location in order to run local platform efficiently
Austria: Vienna
Germany: Munich, Frankfurt, Berlin
CEE: Warsaw, Prague, Budapest, Bucharest
22
Strategy Core markets
CORE REGIONS AND LOCATIONS
Small amount of non-strategic assets in non-core markets
Running disposal program for small-scale properties with a fair value of less than EUR 10 mn (in total approx. EUR 145 mn)
New hotel developments such as InterCity Berlin are kept over a certain stabilisation period to optimise sales process
Sale of CEE logistics assets has priority from an operational point of view over the sale of office assets in non-core locations
23
Strategy Non-strategic assets
NON-CORE ASSETS
24 29
70
281
41
60
0
50
100
150
200
250
300
Logistics Hotel Retail
Non-core by sector (fair value, EUR mn)
Austria Germany CEE
53 70
383
0
50
100
150
200
250
300
350
400
450
Austria Germany CEE
Non-core by region (fair value, EUR mn)
55
38
1720
14
0
10
20
30
40
50
60
Austria Germany Romania Czech Republic Other*
Properties < EUR 10 mn (fair value, EUR mn)
* Hungary, Bulgaria
FINANCIALS
FY 2013 property sales volume up to EUR 1.5 bn should generate free equity of approx. EUR 450 mn
The majority of the generated free cash should be deployed within 1Q 2014 to mitigate a negative short-term impact on earnings
The use of proceeds is earmarked to boost the recurring FFO capacity
25
Financials Use of trading proceeds on liabilities side
STRATEGIC CONSIDERATIONS
Priority 1
Impact
Repayment of holding level debt Title
2013 property disposals
Free equity
ca. EUR 1.5 bn
ca. EUR 450 mn
Priority 2
Selective repayments of project financings
Priority 3
Buy-out of minority partners in CEE
Redemption of most expensive debt lower cost of funding
Improvement of debt maturity profile lower risk
Achievement of debt level targets stronger position to advance monetisation of development assets
NAV-accretive investment with lower risk
Positive impact on recurring cash flow stream and better earnings transparency
Improving operational efficiency at lower complexity level
ROE investment portfolio: 5% (rental business)
ROE total portfolio: > 7% (incl. development and trading business)
Dividend: 2% of NAV
Dividend cover: > 1.5x recurring FFO
Achievement after full implementation of “Strategy 2012-2015”
26
Financials Profitability targets
TARGETS FY 2015+
Cutting indirect expenses
Reducing leverage and lowering cost of debt
1 2 3
Streamlining property portfolio
Increasing occupancy
Measures
Monetising land bank
Recurring development business
ROE > 7%
Investment portfolio
5%
Trading + Development
> 2%
Reducing leverage and lowering average cost of debt
Driving rental growth by development inclusions
Cutting indirect expenses
Increasing portfolio occupancy 27
Financials Funds from operations (FFO) driver
FFO 1 DRIVER
FFO 1
Rental income
Development Financing expenses
Indirect expenses
FFO 2
FFO 2 DRIVER
Trading income
Realising cycle-optimised sales of mature assets
Disposing of German land reserves that do not qualify for own developments
Selling developments that do not fit investment portfolio criteria
Equity ratio: 40 - 45%
Net loan-to-value: 45 - 50%
Net interest coverage: > 2x
Maintaining stable balance sheet ratios as safety cushion in volatile markets and backbone to drive growth by developments
28
Financials Debt level targets
BALANCE SHEET TARGETS FY 2014+
* excluding restricted cash
ca. 40%
0
1.000
2.000
3.000
4.000
5.000
6.000
0%
10%
20%
30%
40%
50%
60%
70%
2006 2007 2008 2009 2010 2011 2012 2013e
Equity ratio
Total property assets Equity ratio
1,7
0,0
0,2
0,4
0,6
0,8
1,0
1,2
1,4
1,6
1,8
0
50
100
150
200
250
300
2007 2008 2009 2010 2011 2012 1-3 Q 2013
Net interest coverage
FFO pre interest and tax FFO net interest coverage
ca. 50%
0
1.000
2.000
3.000
4.000
5.000
6.000
0%
10%
20%
30%
40%
50%
60%
70%
2006 2007 2008 2009 2010 2011 2012 2013e
Total property assets Net LTV*
Net LTV
Lower share of unsecured debt on holding level in order to further improve risk profile
Focus on project financing (non-recourse) across core markets
Target range hedging ratio 60-70% (including fixed-rate instruments)
Cost of Debt: currently ca. 4.2% target: ca. 3.8% following debt repayments
29
Financials Debt structure
TARGETS FY 2014+
41%
57%71%
40%
64%57%
48%55%
33%
58%
0%
10%
20%
30%
40%
50%
60%
70%
80%
Austria Germany Czech Republic
Hungary Poland Romania Other Investment portfolio
Development Group
Loan-to-value ratios (current)
19%
81%
Debt split (current)
Unsecured debt
Secured debt
65%
35%
Interest rate split (current)
Fixed + hedged
Floating
Debt repayments following property disposals will have a strongly positive impact on maturity profile as mainly liabilities due within the next two years will be addressed
CEE debt maturities scattered across countries and properties
30
Financials Financing
FINANCING
* *excluding unsecured debt
34%
24%
11%
5%
4%
2%
20%
Financing institutions*
UniCredit
ÖVAG
Helaba
DG Hyp
BVK
EBRD
Other
100 8128 35
124
6034 88
152
245283
214 34
172
115
150
186
0
100
200
300
400
500
600
700
800
2014 2015 2016 2017 2018+
Maturity profile (EUR mn)
Austria Germany CEE Convertible bonds Bonds
Strike Price: EUR 10.7 reduction to c. EUR 10.3 after next dividend NAV dilution c. 5%
Coupon: 6.125%
In addition to bond repayments, proceeds of sales in Germany mainly to be used to reduce CEE-related debt
As a result, the relative weight of CEE will increase
Within Germany, developments will constitute a larger share – this, however to decrease again as completed buildings are added to the portfolio and the landbank will be reduced further
Current market cap does not even remotely reflect the actual capital at risk
31
Financials Equity allocation
STRATEGIC CAPITAL ALLOCATION
Land in Zoning Process
AS
OF
Q3
20
13
EX
PEC
TED
Germany
EUR 1,200 mn
(55%)
CEE
EUR 560m
(25%)
Thereof:
Income-producing: 65%
Development: 35%
Austria
EUR 450 mn
(20%)
Thereof:
Income-producing: 90%
Development: 10%
Germany
EUR 800 mn
(40%)
CEE
EUR 880m
(40%)
Thereof:
Income-producing: 40%
Development: 60%
Austria
EUR 450 mn
(20%)
Thereof:
Income-producing: 95%
Development: 5%
Equity
EUR 1,770 mn (excl. minorities)
Bonds
EUR 460 mn
Corporate capital EUR 2,230 mn
Majority of equity tied up in liquid German market
Use of free equity from property sales should trigger a recapitalisation of the investment portfolio
Equity invested in development should sum up to around 15% of total group equity going forward
32
Financials Equity allocation
STRATEGIC CAPITAL ALLOCATION
0
500
1.000
1.500
2.000
2.500
Austria Germany CEE Total equity Market cap*
Equity allocation by segment and region (EUR mn)
Income-producing properties Development properties
21%
54%
25%
Equity allocation by region
Austria
Germany
CEE
* as at January 13, 2014
78%
22%
Equity allocation by segment
Income-producing properties
Development properties
0
500
1.000
1.500
2.000
2.500
Income-producing properties
Development properties
Total equity Market cap*
Equity allocation by segment (EUR mn)
DEVELOPMENT
High development expertise after integration of Vivico
Strong development track record has further facilitated access to high-quality tenants
Land reserves in German metropolitans with significant embedded value
Better balanced and steady cash flow model going forward
34
Development Strategy
DEVELOPMENT MODEL
Text Activities will be concentrated on fundamentally strong German market
Development focus on core offices which fit the investment portfolio (individual project volumes EUR 50 – 150 mn)
Annual development capex of EUR 150-200 mn
Around 15% of group equity as indication for future development business size
STRATEGIC APPROACH
Expertise
Text
Text
Text
1
2
3
4
CA Immo
Access to tenants Access to land reserves
Reaping cash flows
0%
5%
10%
15%
20%
25%
30%
0
200
400
600
800
1.000
1.200
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013e
Development assets (fair value, EUR mn)
Austria Germany CEE development assets as % of total property assets
Successful delivery of large-scale projects with high complexity over many years has positioned CA Immo as a top-tier developer in Germany
Capturing value across their entire development process
Effective capital deployment
Sound financial position to further institutionalise development as key driver for growth
35
Development Major player in Germany
STRONG TRACK RECORD OF VALUE CREATION
Development exposure largely concentrated on German cities Frankfurt, Munich and Berlin
Development focus on German market given favourable market conditions and strong market position of CA Immo
36
Development Total development assets
KEY FACTS
0
50
100
150
200
250
300
350
400
450
500
Austria Germany Poland Hungary Romania Czech Republic
Other*
Total development assets (fair value, EUR mn)
Zoning Landbank Projects under construction
84%
16%
Total development assets (FV)
Germany
CEE 0
50
100
150
200
250
Berlin Frankfurt Munich Other
Total development assets Germany (fair value, EUR mn)
Zoning Landbank Projects* Hungary, Slovakia, Serbia, Ukraine, Switzerland
Mixed use urban district development
Plot size 18 hectares
Total gross floor area around 690,000 sqm
Tower 185: two-thirds of largest development project successfully sold
Skyline Plaza: opened in August 2013
37
Development Europaviertel Frankfurt
KEY FACTS
1
2
3
4
5
6
1 Tower 185
2 Skyline Plaza (developed and sold)
3 Nord 1 (sold)
4 Landplot (sold)
5 Meininger Hotel
6 Residential projects (sold)
38
Development Europacity, Berlin
1
3
2
4
5
6
1 John F. Kennedy – Haus (under construction)
2 InterCity Hotel (completed)
3 Steigenberger Hotel (plot sold)
4 Office project (plot sold)
5 Meininger Hotel (completed)
6 Cube (in planning stage)
39
Development Europacity, Berlin
1
3
2
4
5
6
1 John F. Kennedy – Haus (under constr.)
2 InterCity Hotel (completed)
2 Steigenberger Hotel (plot sold)
3 Office project (plot sold)
4 Meininger Hotel (completed)
6 Cube (in planning stage)
7 Tour Total (completed)
8 Monnet 4 (in planning stage)
9 Stadthafen (in planning stage)
7
8
9
Mixed use urban district development with more than 600,000 sqm of surface area
40 hectares close to the government quarter
CA Immo one of the main landowners (ca. 20 ha) among with Deutsche Bahn (ca. 10 ha) and Land Berlin (ca. 10 ha)
Usage type office
Lettable area ca. 22,000 sqm
8 floors
Investment volume approx. EUR 70 mn
Green building
Planned completion in 1H 2015
Pre-letting ratio approx. 42%
40
Development John F. Kennedy – Haus, Berlin
KEY FACTS
Anchor tenant signed in November 2013 (approx. 47% of lettable space)
Start of construction in 1Q 2014
Planned completion in 1H 2015
Total investment volume approx. EUR 29 mn
41
Development Monnet 4, Berlin
KEY FACTS
Usage type office
Lettable area approx. 10,000 sqm
Investment volume approx. EUR 32 mn
Pre-letting ratio > 70%
Planned completion 1H 2014
42
Development Belmundo + Lavista, Düsseldorf
KEY FACTS BELMUNDO
Usage type office
Lettable area 4,100 sqm
Investment volume approx. EUR 16 mn
Planned completion 1H 2014
KEY FACTS LAVISTA
Usage type office
50:50 JV with Ellwanger Geiger
Surface area of ca. 25,000 sqm
Investment volume approx. EUR 90 mn (for 100%)
43
Development Kontorhaus, Munich
Green building
Planned completion mid 2015
Pre-letting ratio around 56%
KEY FACTS
LAND RESERVES
81%
19%
Total landbank (FV)
Germany
CEE
Majority of land reserves located in Germany
Competitive advantage in current market environment
Substantial progress on further zoning until end of 2014
45
Development Landbank
KEY FACTS
* Hungary, Slovakia, Serbia, Switzerland
0
50
100
150
200
250
300
350
400
Austria Germany Poland Romania Czech Republic
Other*
Total landbank (fair value, EUR mn)
In Zoning Landbank
80%
4%
8%
2%6%
Total landbank (FV)
Germany
Poland
Romania
Czech Republic
Other*
63%7%
3%
4%
6%
17%
Total landbank - type of use (FV)
Office
Logistics
Retail
Hotel
Residential
Other**
** not defined yet
High-rise office property plots in Frankfurt
Berlin and Munich land bank highly sought-after
Zoning processes in Berlin and Munich are progressing
Other land reserves comprise the Zollhafen Mainz project and the Marina City Regensburg
46
Development Landbank Germany
GERMANY LAND RESERVES
0
20
40
60
80
100
120
140
160
Berlin Frankfurt Munich Other
Landbank Germany (fair value, EUR mn)
Landbank Zoning
30%
42%
24%
4%
Landbank Germany (FV)
Berlin
Frankfurt
Munich
Other
66%5%
8%
21%
Landbank Germany - type of use
Office
Hotel
Residential
Other
CEE land reserves with a fair value of approx. EUR 85 mn account for ca. 19% of total landbank
Selective developments as soon as CEE markets show broader recovery
47
Development Landbank CEE
CEE LAND RESERVES
0
5
10
15
20
25
30
35
40
Poland Hungary Czech Republic
Slovakia Serbia Romania Ukraine
Landbank CEE (fair value, EUR mn)
Landbank Zoning
42%
4%20%
34%
Landbank CEE (FV)
Poland
Hungary
Czech Republic
Slovakia
47%
36%
13%
4%
Landbank CEE - type of use (FV)
Office
Logistics
Retail
Other
48
Contact details
Christoph Thurnberger Claudia Hainz
Head of Capital Markets Investor Relations / Capital Markets
Tel.: +43 (1) 532 59 07 504 Tel.: +43 (1) 532 59 07 502
E-Mail: [email protected] E-Mail: [email protected]
www.caimmo.com/investor_relations/
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