Globalworth Real Estate Investments : 2021 Annual Results Presentation
June 20, 2022 at 12:04 pm
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Globalworth: CEE's Leading Office Landlord
2021 Annual Results Presentation
Globalworth Overview
Green Court Complex, Bucharest
1
Globalworth Snapshot
Globalworth is a leading real estate Group with a primary focus on Poland and Romania, the two largest markets in the CEE
We acquire, develop and manage commercial real estate assets, primarily in the office sector
Prime locations in key cities
Modern assets with excellent environmental credentials
Established, blue chip and mostly international tenants
Primarily long term, Euro-denominated,triple-net and inflation-linked leases
Internal and multi-disciplinary management platform
extensive experience in target markets
+240 professionals mainly located in Warsaw and Bucharest
Sustainable dividend policy
90% of EPRA Earnings
€0.30 / share cash distributed in 2021
Strong and supportive shareholder base including the controlling consortium of CPI Property Group and Aroundtown (via Zakiono Enterprises Ltd) holding 60.6%, and Growthpoint Properties (29.4%)
Select Metrics
€3.2bn
66
1,302.3k
88.5%
GAV
Standing Properties
Standing GLA
Occupancy
€2.7bn
€183.7m
4.7yrs
98.9k
Green GAV
An. Contracted Rent
WALL
Dev't GLA
40.1%
BBB - / Baa3
2.7%
€1.3bn
LTV
Credit Rating
Avg. debt cost
in 3 Eurobonds
Geographic Split
Property Type
Property Status
(% GAV)
(% GAV)
(% GAV)
Other
Land for Future
Development *
Romania
4.4%
2.9%
48.8%
Industrial
6.6%
Developments
6.2%
Mixed-
Poland
use
Office
8.8%
80.2%
Standing Properties
51.2%
90.9%
Note: Figures present the Combined Portfolio of Globalworth as at 31 December 2021.
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* Developments: Include Renoma and Supersam in Poland which are under extensive refurbishment / repositioning.
Portfolio Evolution since 2017
Portfolio Value
GLA Standing
GLA Commercial Standing
GLA Commercial Standing Occupied
(€m)
('000s sqm)
('000s sqm)
(000's sqm)
3,500
1,400
1,400
1,400
3,000
1,200
1,200
1,200
2,500
1,000
1,000
1,000
2,000
800
800
800
1,500
600
600
600
1,000
400
400
400
500
200
200
200
-
-
-
-
2017
2018
2019
2020
2021
2017
2018
2019
2020
2021
2017
2018
2019
2020
2021
2017
2018
2019
2020
2021
Romania
Poland
Romania
Poland
Romania
Poland
Romania
Poland
Portfolio Concentration
Green Portfolio
Green Certified Properties
Contracted Rent
(€m)
(€m)
(Number of Properties)
(€m)
3,500
3,500
60
250
3,000
3,000
50
200
2,500
2,500
40
150
2,000
2,000
30
1,500
1,500
100
20
1,000
1,000
50
10
500
500
-
-
-
-
2017
2018
2019
2020
2021
2017
2018
2019
2020
2021
2017
2018
2019
2020
2021
2017
2018
2019
2020
2021
Bucharest New CBD
Bucharest Other
Romania
Poland
Romania
Poland
Romania
Poland
Regional Romania
Warsaw
Regional Poland
3
Financial Performance Evolution since 2017
Rental Income
Adjusted Normalised EBITDA
(€m)
(€m)
180.0
160.0
160.0
140.0
140.0
120.0
120.0
100.0
100.0
80.0
80.0
60.0
60.0
40.0
40.0
20.0
20.0
-
-
2017
2018
2019
2020
2021
2017
2018
2019
2020
2021
Group
Group
Loan to Value
EPRA NAV per Share
(%)
(€)
50.0
10.0
45.0
9.0
40.0
8.0
35.0
7.0
30.0
6.0
25.0
5.0
20.0
4.0
15.0
3.0
10.0
2.0
5.0
1.0
-
-
2017
2018
2019
2020
2021
2017
2018
2019
2020
2021
Group
Group
EPRA earnings/share
(€ cents)
50
45
40
35
30
25
20
15
10
5
-
2017
2018
2019
2020
2021
Group
Total Annual Shareholder Return
(%)
40.0
30.0
20.0
10.0
-
(10.0)
(20.0)
(30.0)
2017 2018 2019 2020 2021
Group
Dividend per share
(€ cents)
70.0
60.0
50.0
40.0
30.0
20.0
10.0
-
2017
2018
2019
2020
2021
Group
Cost of Debt
(%)
3.0
2.9
2.8
2.7
2.6
2.5
2.4
2017 2018 2019 2020 2021
Group
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Globalworth Real Estate Investments Limited published this content on 20 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 June 2022 16:03:08 UTC.
Globalworth Real Estate Investments Limited is a real estate company. The Company is engaged mainly in real estate business, comprising offices, mixed-use, industrial, and residential investment properties segment and property management services, in two geographical areas, such as Romania and Poland. It acquires, develops, and manages commercial real estate assets, primarily in the office sector. Its segments include Office, Residential, Mixed-use, and Other. The Office segment acquires, develops, leases, and manages offices and spaces. The Residential segment builds, acquires, develops, and leases apartments. The High Street Mixed-use and the Other segment acquires, develops, leases, and manages industrial spaces and corporate offices. It owns about 50 standing Class A office buildings in locations within their respective sub-markets. Its portfolio also includes various investments, mainly in mixed-use (office/commercial) as well as some logistics and light-industrial properties.
GLOBALWORTH REAL ESTATE INVESTMENTS LIMITED 
