Le Floria - Fontenay Q1 2013 14 May 2013 Strong Letting Activity Percier - Paris Citroën Paris 17
1- Positioning 2- Letting Activity 3- Portfolio 4- Financing 5- Q1 2013 Revenues 6- Key Takeways Le Divo - Metz
New Vélizy Thalès 1- Positioning
Foncière des Régions at a glance Group share data end 2012 A leading European REIT Fully-integrated Real Estate Company 3.6bn market cap 9.3bn group share portfolio ( 16bn total portfolio) 2/3 Offices 2/3 France Service sector: 9% Residential: 11% Other: 3% Offices: 67% A solid real estate positioning Strong income profile 6.7% average yield Tenant partnership strategy Quality portfolio Recurring asset rotation (5-10% p.a.) of non-core/mature assets 1.2m pipeline: selective development opportunities Logistic: 10% Italy: 24% 2/3 in Northern Italy Germany: 10% France: 66% 2/3 in Ile de France Solid Cash-flows Performance-driven business model Balanced leverage: 45% LTV Access to competitive debt financing: BBB- rating Supportive and diversified shareholder base 4 Foncière des Régions 3M 2013 14 May 2013
EDF - Talence 2- Letting Activity
Strong letting activity thanks to partnership strategy and pipeline New project in St-Denis: Green Corner launched with a 70% office surface prelet Green Corner, Saint Denis 20,400 sqm of office in Saint Denis o/w: Restaurant of 1,400 sqm Retail surface of 400 sqm 100 m from RER B tube station Delivery S2 2015 70% prelet to public agency 335/sqm/year 10-year firm lease Yield on cost > 7% Launch of a new turnkey program in 1 st ring of Paris 12,800 sqm Delivery in 2015 10-year firm lease 6 Foncière des Régions 3M 2013 14 May 2013
Strong letting activity thanks to partnership strategy and pipeline Main new lettings and renewals during 1Q 2013 Office France New letting: 44,500 sqm (Le Patio, Pegase, 70% of Green Corner, ) Renewals: 90,000 sqm ( 15m of annualized rent) Average firm lease maturity 5.2 years Office Italy New letting: 4,140 sqm of new letting ( 1.8m of annualized rent) Renewals: 1,500 sqm of renewals ( 0.5m of annualized rent) Hotel 4* in Euromed Center let to Louvre Hotels Group 4* hotel «Golden Tulip» in the Euromed Center Complex 210-room Hotel (10,000 sqm) Restaurant, bar, pool and fitness room 2016 Delivery 12-year firm lease, variable rent JV 50-50 with CAA First tranche of Euromed Center 66% secured 7 Foncière des Régions 3M 2013 14 May 2013
Eiffage Construction Vélizy 3- Portfolio
Ongoing Rotation Policy in 1Q 2013 Disposals of non core assets Assets delivered Group share: 372m of disposals and agreements 65m of new disposals and agreements YTD Done in line with end-2012 appraisal values Economic exposure: Additional 35m YTD coming from residential Le Pégase Eiffage Clichy Delivery: April 2013 Le Pégase - Eiffage turnkey 4,580 sqm of offices in Clichy 200m from RER E tube station BBC & HQE Certification 10-year firm lease Annualised rent of 1.6m Budget 23m 7% yield on cost Le Patio Lyon Delivery: February 2013 Le Patio - 100% let 12,755 sqm of office in Lyon 10 min. from TGV Train Station HQE, BREEAM & BBC Certification 5-year firm lease on average Annualised rent of 2.5m Budget 31m 8% yield on cost Bat C of Garibaldi complex 6,390 sqm of offices in Milan Budget 46m Garibaldi complex fully delivered 100% let untill 2019 (firm) Annualised rent of 15m Budget 127m 9 Foncière des Régions 3M 2013 14 May 2013
Ongoing Rotation Policy in 1Q 2013 New projects launched Green Corner Saint Denis Delivery: S2 2015 Green Corner in Saint Denis 20,400 sqm of office in Saint Denis 70% prelet Budget: 83m Respiro in Nanterre 11,100 sqm of office in Nanterre 100% prelet to Vinci Budget: 47m New turnkey in 1 st ring of Paris 12,800 sqm of office Nanterre Respiro Vinci Delivery: 2015 100% prelet Garonor 51,000 sqm of logistics Samada Garonor Delivery: 2014 100% prelet to Samada (Monoprix) Budget: 61m 10 Foncière des Régions 3M 2013 14 May 2013
Kleber Paris 16 4- Q1 2013 Revenues
Solid rental revenues 126.8m +2.9 Invest. -11.1 Disposals +0.9 +1.0 Index. Asset Mgt Scope effect 120.4m + 2.5m: indexation + 1.9m: new lettings - 2.8m: change in occupancy - 0.8m: renewals 3M 2012 3M 2013 m 3M 2012 3M 2012 proforma 1 3M 2013 Var. vs proforma Var. LFL Occup. rate Offices - France 68.1 63.9 62.5-2.2% +1.7% 95.4% Offices - Italy 29.0 29.0 29.6 +2.1% +1.0% 96.9% Offices 97.0 92.9 92.0-1.0% +1.5% 95.9% Service Sector 11.3 11.3 12.5 10.6% +0.2% 100% Logistics 18.5 18.5 15.9-14.1% -1.9% 86.5% Total group share 126.8 122.6 120.4-1.8% +0.9% 95% Residential 16.3 16.3 15.1-7.3% +2.2% 96% Total (economic exposure) 143.1 138.9 135.5-2.4% +1.0% 95.1% 1 Restatment of the DS campus rents contribution: Asset consolidated under the equity method since October 2012 12 Foncière des Régions 3M 2013 14 May 2013
New Vélizy Vélizy 5- Financing
Q1 2013 new financings 330m group share new financings YTD: Foncière des Régions: 180m private placement 7-year maturity Coupon 3.30% (197 bps margin) Beni Stabili: 292m o/w 225m convertible bond 7 times over-subscribed 5-year maturity Coupon 3.375% 4,2% 4,0% 3,8% 3,6% 3,4% 3,2% 3,0% Foncière des Régions implied cost of debt of a 5-y bond CB21 La Défense Investors mortgage debt 13% Bank mortgage debt 36% Bonds 9% Corporate debt 27% Convertible bonds 15% 51% Unsecured 14 Foncière des Régions 3M 2013 14 May 2013 Debt breakdown - End of March 2013 - Group share
Carré Suffren - Paris 6- Key Takeaways
Strong letting activity and solid performances, despite a difficult context Solid operating performances in Q1 2013 95% occupancy rate Rents +1% LFL Strong letting activity fuel future rental income growth Le Patio in Lyon and Pégase turnkey for Eiffage in Clichy, delivered in Q1 2013 (total annualized rents of 3.9m) New project in St-Denis: Green Corner launched with a 70% prelet (firm 10-year lease) New 12,800 sqm turnkey in 1 st ring of Paris (firm 10-year lease) A 4* hotel prelet to Louvre Hotels Group in Euromed Center: 1 st tranche of our Marseille project 66% secured Portfolio improvement in progress 77m assets deliveries 220m new committed investments Total pipeline of 1.1bn o/w committed pipeline of 400m 16 Foncière des Régions 3M 2013 14 May 2013
Agenda 2013 half year results: 24 July 2013 (before market opening) 17 Foncière des Régions 3M 2013 14 May 2013
Disclaimer This document contains forward-looking reflections and information. By their nature, these reflections and information include financial forecasts and estimates as well as the assumptions on which they are based, statements related to projects, objectives and expectations concerning future operations, products and services or future performance. Although Foncière des Régions s management believes that these forward-looking reflections and information are reasonable, Foncière des Régions cannot guarantee their accuracy or completeness and investors in Foncière des Régions are hereby advised that these forward-looking reflections and information are subject to numerous risks and uncertainties that are difficult to foresee and generally beyond Foncière des Régions s control, which may mean that the actual results and developments differ significantly from those expressed, induced or forecasted in the forward-looking reflections and information. These risks include those developed or identified in the public documents filed by Foncière des Régions with the AMF, including those listed in the Risk Factors section of the Reference Document registered with the AMF. 18 Foncière des Régions 3M 2013 14 May 2013
Cisco Issy les Moulineaux Contact: Philippe Le Trung Tel: + (33) 1 58 97 52 04 Mob: + (33) 6 23 82 50 37 philippe.letrung@fdr.fr Sébastien Bonneton Tel: + (33) 1 58 97 52 44 Mob: + (33) 6 11 14 85 70 sebastien.bonneton@fdr.fr 30, Avenue Kléber 75116 Paris France
Q1 Turnover Consolidated Group share m 3M 2012 3M 2012 proforma 1 3M 2013 Var. vs proforma 3M 2012 3M 2012 proforma 1 3M 2013 Var. vs proforma Var. LFL Offices - France 70.4 66.3 65.0-1.9% 68.1 63.9 62.5-2.2% +1.7% Offices - Italy 56.9 59.9 58.1 +2.0% 29.0 29.0 29.6 +2.1% +1.0% Offices 127.3 123.2 123.2-0.1% 97.0 92.9 92.0-1.0% +1.5% Service Sector 43.5 43.5 48.3 +11% 11.3 11.3 12.5 +10.6% +0.2% Logistics 20.7 20.7 15.9-23.3% 18.5 18.5 15.9-14.1% -1.9% Total 191.6 187.4 187.3-0.1% 126.8 122.6 120.4-1.8% +0.9% Others 16.3 16.3 15.8-2.9% 11.1 11.1 11.6 +4.3% Turnover 207.9 203.7 203.1-0.3% 137.9 133.8 132.0-1.3% 1 Restatment of the DS campus rents contribution: Asset consolidated under the equity method since October 2012 20 Foncière des Régions 3M 2013 14 May 2013