Hyprop Investments : PRESENTATION PDF - 6MB

Integrated

Annual Results

presentation

for the period ended 30 June 2022

Agenda

Headlines and Key Metrics

South Africa

Eastern Europe

Sub-Saharan Africa

Financial Results

In Closing

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Progress over the past 3 years

Sub-Saharan

Group

South Africa

Eastern Europe

Africa

Further strengthen

Mixed-use opportunities

Retain dominance - asset

Ensure value creation

balance sheet

management initiatives

Annual review of portfolio

Implement priorities

and extensions

Exit strategy

in terms of

and recycling of assets

repositioning strategy

Leverage SA expertise

Implement Hystead

Implement the

Securing rights for

liquidity event

Golden Thread

extensions

Improving ESG initiatives

Complete refinance of

in-country debt

Complete /acceptable progress and ongoing		Not acceptable progress

Non-Tangible

Assets

SOKO - complete

software development

and 1st pilot

Roll-out further SOKO

districts

Pursue 4 new

opportunities via

Innovation JV

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Headlines

Creating spaces and connecting people

Group

South Africa

Eastern Europe

Sub-Saharan Africa

Non-Tangible Assets

• Hystead liquidity event implemented:
• • Hyprop acquired the four European malls - 99.92% support of the 79.71% voting shareholders
  • Sold Delta City, Belgrade for €115 million
  • Sold Delta City, Podgorica for €95 million
• 7.4% growth in the Group's distributable income
• Fully consolidated LTV reduced from 45.8% in June 2021 to 36.4% in June 2022
• 39% increase in gross assets to R37.3 billion
• Improved B-BBEE rating to Level 4 (2021: Level 6)

• 9% like-for-like growth in distributable income
• Like-for-likeindependent property valuation up 2.6% to R22.7 billion
• Retail vacancy reduced to 2%
• Tenant turnover increased by 13.6%
• Trading density increased by 10.9%
• First Ted Baker and Zara open in Canal Walk
• Successful revamp of Clearwater food court
• Completed energy audits on portfolio

• 3 months NOI of R110 million vs forecasted R98 million
• Independent property valuations of €573 million vs €575 transaction value
• Positive rent reversions of 6.5%
• Retail vacancy at 0.7%
• Tenant turnover increased by 14.5%
• Trading density up 7.4%
• Skopje City Mall redevelopment completed
• First phase of The Mall in Sofia bathroom upgrade to be completed by end November 2022

• Property valuation down 2.8% in US$ terms
• Vacancies reduced from 12.2% to 10.1% at all centres
• Nike opens flagship store at Ikeja City Mall, Nigeria
• Signed term sheet on sale of the Ghana portfolio

• Internalised physical districts into Hyprop portfolio as differentiator
• SOKO technological platform remain in JV with EmpiriQ
• NIKA (electronic gift cards) pilot to start at Rosebank Mall

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Key metrics

Group

Distributable income (Cps)/(R'm)
400			6.3			3.4%
350								38.8
					40.0			29.5
300												381.4
					354.5
250			342.5
		308.3			313.0
200
	June 2021		June 2022
		Group		AVM			Effect of Europe income			Effect of additional shares

Distributable income (Group)

1 090.1

June 2021

IFRS NAV per share (R)

70

65											6.82
				6.60
												67.70
60								65.57
55	62.96			58.97				60.88
June 2021	December 2021	June 2022
7.4%				IFRS NAV			Effect of Shares
1 170.8

June 2022

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