General shareholders meeting (ordinary and extraordinary) of June - - PowerPoint PPT Presentation

▶

Nov 26, 2023 292 likes •611 views

General shareholders meeting (ordinary and extraordinary) of June 25, 2014 Cegereal: Uniquely Positioned in the Paris Region Market A portfolio focused exclusively on the Paris inner suburbs Large, modern buildings (valued at over

SLIDE 1

General shareholders’ meeting (ordinary and extraordinary)

f June 25, 2014

SLIDE 2

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

ARCS DE SEINE 45.000 sq.m in Boulogne EUROPLAZA 50.000 sq.m in La Défense RIVES DE BERCY 31.900 sq.m in Charenton

Cegereal: Uniquely Positioned in the Paris Region Market

A portfolio focused exclusively on the Paris inner suburbs
Large, modern buildings (valued at over €50 million) offering many high value-

added amenities

First-class tenants generating secure revenue streams

SLIDE 3

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Occupancy rate

+7% +12% +49% x2,3

2013, A Strong Year of Value Creation

48,500 sq.m. of leases extended for six to nine years with large

corporates: Crédit Foncier, Hewlett Packard, Cap Gemini and Galderma

7,800 sq.m. of new leases signed in Arcs de Seine with Sagem, Sonepar

and Hewlett Packard

Dual “green” certification for 75% of the portfolio

Europlaza and Arcs de Seine certified to HQE Exploitation and BREEAM In-Use International standards Total distribution (€ per share) Rental income IFRS (in € million) Current cash flow (in € million)

Dec‐12 Dec‐13 38,6 43,3 Dec‐12 Dec‐13 83% 89% Dec‐12 Dec‐13 13 19,4 Dec‐12 Dec‐13 0,65 1,5

SLIDE 4

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

16,0 18,0 20,0 22,0 24,0 26,0 28,0 30,0 déc.‐12 mars‐13 juin‐13 sept.‐13 déc.‐13 CGR EPRA Europe Index IEIF French SIIC Index

Share Performance in 2013

CGR share performance vs. EPRA and IEIF indices

SLIDE 5

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

2013 Rental Income up 12%, Underpinned by the First Positive Effects

f the Lettings in Arcs de Seine

Cegereal – Growth in rental income, 2012-2013

0,4 7,4 (0,6) 0,1 38,6 43,3 30 34 38 42 46

2012 Rental income Indexation Arrivals Departures Renegociation Other 2013 Rental income

(2,6)

SLIDE 6

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

+177m€

€ millions

1,9%

Arcs de Seine Bât C – Boulogne Billancourt

Appraisal Values and Unrealized Capital Gains

Unrealized capital gains Lower appraisal values

346 412 459 425 361 384 386 387 355 340 363 385 350 311 309 300 310 322 168 187 188 163 156 168 169 168 172 854 961 1032 938 828 861 854 865 849 100 200 300 400 500 600 700 800 900 1 000 1 100 Mar-06 Déc-06 Déc-07 Déc-08 Déc-09 Déc-10 Déc-11 Déc-12 Déc-13

Europlaza Arcs de Seine Rives de Bercy Net book value

SLIDE 7

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

The Go Green Program: 100% of the portfolio certified to the best standards in 2014

Main events: 2012: Go Green program launched Arcs de Seine earns HQE Exploitation certification Promising preliminary technical audits at Europlaza and Rives de Bercy 2013: Europlaza earns HQE Exploitation certification 2014: Europlaza and Arcs de Seine certified to BREEAM In-Use International Very Good standards (third and fourth buildings in France to earn this distinction) in January Green Rating benchmark integrated

SLIDE 8

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Financial Highlights

31 déc. 2011 31 déc. 2012 31 déc. 2013



Portfolio value € 854 M € 865 M € 849 M



Loan to value ratio 46.7% 46.2% 47.1%



EPRA NNNAV per share 34.2 35.7 34.1



IFRS Rental income € 34.6 € € 38.6 M € 43.3 M



Cash flows from operations € 8.4 M € 4.0 M € 19.4 M



IFRS net result € 0.2 M € 16.9 M € 1.9 M



EPRA result € 7.8 M € 7.5 M € 19.1 M

SLIDE 9

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Cash Flow From Operations

In thousands euros

2011 2012 2013 Variance IFRS rents 34 555 38 633 43 303 Recovered real estate expenses 7 315 8 773 10 462 Real estate expenses (10 428) (12 312) (14 700)



Net rents 31 442 35 094 39 065 11% Asset management fees (2 990) (3 029) (2 972) Other management fees (1 983) (2 250) (2 754) Restructuring (2 010) (220)

Other operating income

1 (375) (4) Received indemnities

Operating income 24 460 29 220 33 335 14% Net financial expenses (16 082) (25 203) (1) (13 887)



Cash flow from operations 8 378 4 017 19 448



Recurring cash flow (2) 8 378 13 017 19 448 49%

(1) Including 9 months at previous interest rate and €9m in non‐recurring refinancing costs (2) EPRA earning excluding non‐recurring costs (such as refinancing transaction costs )

SLIDE 10

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

35.7€ 34.1€

NNNAV Dec 31, 2012

(€/share)

NNNAV Dec 31, 2013

(€/share)

+1.4

Recurring income Change in the fair value of real estate assets Dividends

(0.7)

Rent-free period

(1.1) (1.2)

EPRA NNNAV

SLIDE 11

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Outlook 2014

15% growth in recurring

earnings per share

Launch of the Europlaza

garden tower project

Completion of the Go Green

program

SLIDE 12

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Questions / Answers

SLIDE 13

General shareholders’ meeting

Arcs de Seine – Boulogne-Billancourt

SLIDE 14

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Statutory auditors’ report

SLIDE 15

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Proposed resolutions and vote

SLIDE 16

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Resolution n°1

› Approval of the annual financial statements for the year ended December 31, 2013 to the shareholders for approval, showing a net loss of EUR 1,877,070.

SLIDE 17

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Resolution n°2

› Approval of the consolidated financial statements for the year ended December 31, 2013 to the shareholders for approval, showing attributable net income of EUR 1,939,556.

SLIDE 18

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Resolution n°3

› Discharge to the directors.

SLIDE 19

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Resolution n°4

› Appropriation of the net loss for the year ended December 31, 2013 to retained earnings.

SLIDE 20

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Resolution n°5

› Approval of an exceptional distribution of additional paid-in capital for an amount of EUR 10,029,375 euros, namely an amount of EUR 0.75 per share. › If this resolution is adopted, the amount distributed will be paid on July 17, 2014.

SLIDE 21

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Resolution n°6

› Statutory Auditors’ special report on related party agreements and commitments and approval of such agreements.

SLIDE 22

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Resolution n°7

› Setting of the directors’ fees to be allocated to the Board of Directors at EUR 120,000.

SLIDE 23

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Resolution n°8

› Opinion on the items of compensation owed or awarded for the 2013 fiscal year to Richard Wrigley, Chairman of the Board of Directors.

SLIDE 24

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Resolution n°9

› Opinion on the items of compensation owed or awarded for the 2013 fiscal year to Raphaël Tréguier, Managing Director.

SLIDE 25

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Resolution n°10

› Authorization to be granted to the Board of Directors for the purpose of repurchasing the Company’s

wn shares pursuant to the shareholders and to the mechanism provided for under Article L.225-209
f the French Commercial Code.

› This resolution could be done within the limit of 10% of the number of shares composing the share capital. The maximum purchase price is set at EUR 40 per share. › The maximum amount of the program is set at EUR 53,490,000.

SLIDE 26

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Resolution n° 11

› Authorization to be granted to the Board of Directors for the purpose of canceling the shares bought back by the Company within the scope of the mechanism provided for under Article L.225-209 of the French Commercial Code (share buy-back program).

SLIDE 27

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Resolution n°12

› Use of delegations of authority during a public offer period under the reciprocity exception.

SLIDE 28

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Resolution n°13

› Delegation of authority to issue share subscription warrants and grant them to shareholders during a public offer period under the reciprocity exception.

SLIDE 29

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Resolution n°14

› Powers for formalities.

SLIDE 30

CEGEREAL – General shareholders’ meeting (ordinary and extraordinary) of June 25, 2014

Share details

Name Cegereal SA Listing market Euronext Paris ISIN FR0010309096 Symbol CGR CFI ESVUFB Type REIT Section Eurolist compartment B Indices CAC All Shares IEIF SIIC France Registrar BNPP Securities Services

Investor Relations

21-25, rue de Balzac 75008 Paris Tel: +33 (0)1 42 25 76 36 Email: info@cegereal.com

Securities Services

BNPP Securities Services Grands Moulins de Pantin 9 rue du Débarcadère 93 761 Pantin Cedex Tel : +33 (0)1 42 98 10 00