2. 2016 Investor Days - Lars-Åke Tollemark - Unibail

Unibail-Rodamco in the Nordics – Lars-Åke Tollemark, Managing Director Nordics
2016 INVESTOR DAYS
DISCLAIMER
Unibail-Rodamco S.E., a Société Européenne à Directoire et Conseil de Surveillance incorporated under French law, is a listed closed end property
investment company. Unibail-Rodamco is registered with the French Authority of Financial Markets (AMF). The value of your investment may fluctuate.
Past performance is no guarantee for the future.
The information in this presentation has been included in good faith but is for general informational purposes only. All reasonable care has been taken
to ensure that the information contained herein is not untrue or misleading. It should not be relied on for any specific purpose and no representation
or warranty is given as regards its accuracy or completeness.
Certain of the statements contained in this release are statements of future expectations and other forward-looking statements. These expectations are
based on management's current views and assumptions and involve known and unknown risks and uncertainties. The outlook is based on the current
property portfolio and disregards the potential effects of acquisitions and divestments, or significant changes in exchange and interest rates. Actual
results, performance or events may differ materially from those in such statements due to, among other things, (i) general economic conditions,
in particular economic conditions in Unibail-Rodamco's core markets, (ii) performance of financial markets, (iii) interest rate levels, (iv) currency
exchange rates, (v) changes in laws and regulations, and (vi) changes in the policies of governments and/or regulatory authorities. Unibail-Rodamco
assumes no obligation to update any forward-looking information contained in this document. Any opinions expressed in this presentation are subject
to change without notice. The presentation should not be regarded by recipients as a substitute for the exercise of their own judgment. Investors
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NORDICS MACRO OVERVIEW
Population 2015 (Mn)
GDP per capita 2014 (€)
9.7
Sweden
5.7
5.5
5.2
Denmark
Finland
Norway
Cities above 500k
Inhabitants in the Nordics (Mn)
Copenhagen
1.6
Helsinki
Denmark
Finland
Norway
10 fastest growing cities
in Europe 2015-2020
10.3%
Oslo
5.8%
0.9
5.7%
5.5%
4.3%
3.9%
3.6%
3.3%
Gothenburg
Unibail-Rodamco present
Source: Eurostat (2015)
Sweden
37,559
7.9%
1.2
Stockholm
46,178
11.0%
2.2
1.8
44,414
73,494
Unibail-Rodamco not present
3
MACRO OVERVIEW
3.5%
GDP Growth (%)
3.3%
Private Consumption (%)
2.7%
2.4%
2.4%
2.2%
1.7%
1.6%
1.4%
1.2%
1.8%
1.6%
2.2%
2.2%
1.8%1.9%
1.3%
1.1%
0.7%0.6%
0.5%0.6%
Sweden
Denmark
2015
2016
2.0%
1.6%
Finland
Sweden
Norway
2017/FY-2020 CAGR
Denmark
2015
Finland
FY-2016
Norway
2017-2020 CAGR
Unemployment rate 2005-2015 (%)
12%
Finland
EU-28
10%
8%
6%
Sweden
Denmark
4%
Norway
2%
Q3-2015
Q4-2014
Q1-2014
Q2-2013
Q3-2012
Q4-2011
Q1-2011
Q2-2010
Q3-2009
Q4-2008
Q1-2008
Q2-2007
Q3-2006
Q4-2005
Source: Nordic Barometer (March 2016), Eurostat (2015)
Q1-2005
0%
4
RETAIL GROWTH AND INCREASED SAVINGS IN SWEDEN
Retail growth Sweden
7.4%
6.1%
6.0%
4.9%
6.6%
5.5%
4.7%
3.5%
3.5%
3.4%
3.6%
3.7%
3.4%
2.1%
1.9%
2012
2013
2014
15.3%
15.2%
15.3%
2012
2013
2014
0.8%
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2015
Savings rate
7.7%
7.5%
2001
Source: HUI, SCB
2002
12.3%
2008
2009
9.2%
6.4%
5.5%
5.2%
2004
2005
3.5%
2000
12.5%
2003
11.1%
16.2%
12.5%
6.7%
2006
2007
2010
2011
2015
5
SWEDEN: THE IMPORTANCE OF STOCKHOLM
GRP per capita in cities above 500k inhabitants (€)
172,600
Inner London West
87,600
Luxembourg
81,300
Oslo
Inner London East
65,400
100%
90%
80%
Brussels
62,900
70%
Stockholm
62,200
60%
Hamburg
59,000
Copenhagen
58,100
Paris (Île de France)
Greater Gothenburg
Munich
53,900
50%
40%
52,000
30%
51,200
20%
Helsinki
49,200
Amsterdam
48,500
London outer area of greater London
47,900
Vienna
47,300
Source: Nordea, Catella
GDP (% of total)
Sweden 2009-2013
10%
0%
Category 1
Greater Stockholm
South Sweden
West Sweden
Rest of Sweden
6
SWEDISH RETAIL DISTRIBUTION
Shopping Centres
21.3%
Other retail
56.4%
Retail Parks
16.3%
E-Commerce
6.0%
Source: HUI
7
STOCKHOLM
Purchasing power (SEK Bn)
Municipality
County
Source: HUI
2014
2023
66
86
+30%
160
209
+31%
8
THE NORDICS PORTFOLIO
9 Shopping Centres
Arninge Centrum
Arlanda
Örebro
9
UNIBAIL-RODAMCO NORDICS SHOPPING CENTRES PORTFOLIO KPIs
€3.3 Bn
Total GMV
68.6 Mn
Total footfall
447,000
6
80%
3
Total m² GLA
Large
shopping centres
of Nordics GMV
in Stockholm
Non-core
retail assets
4 in Stockholm
1 in Helsinki
1 in Copenhagen
10
UNIBAIL-RODAMCO STRATEGY CARRIED OUT IN THE NORDICS
Nordics Shopping Centre Portfolio
2009
2013
2015
16
€112 Mn
€1.8 Bn
5.8%
29,285 m²
4.7
67.1%
9
€249 Mn
€2.2 Bn
5.0%
41,550 m²
5.9
86.5%
9
€371 Mn
€3.3 Bn
4.5%
49,637 m²
7.6
96.4%
Retail assets
Average GMV
GMV
NIY
Average GLA
Average Footfall
Large Malls
MoS Footfall estimated full year number
GMV relating to standing assets only (MoS during development not included)
€/SEK: €9.2118 /DKK: 7.46 over the entire comparison period
11
MALL OF SCANDINAVIA
GLA retail
101,048 m²
The biggest shopping centre
in Scandinavia
The highest international standards
in terms of design and offer
TIC
€657 Mn
224 stores
3,700
parking spaces
7 minutes
from Stockholm city centre
1.7 Mn inhabitants/30 min
2.3 Mn/60 min
35,000 workers,
a 50,000-seat national arena
and a hotel in the neighborhood
7.3 Mn visitors
in 1st 6 months
Named best international
shopping centre at Retail Leisure
Industry 2016 Awards
12
MALL OF SCANDINAVIA: A LEASING SUCCESS
Food Anchors
Other
7%
5%
Fashion
Health & Beauty
Sports & Leisure
Family
Interior Design
Bags, Shoes
& Accessories
Retail
62%
Restaurants
12%
GLA
PER SECTOR
Leisure
14%
13
TÄBY CENTRUM
GLA retail
78,000 m²
Footfall
12.3 Mn
260 shops
and restaurants
3,000 parking spaces
Catchment area
1.42 Mn inhabitants
within 30 minutes
THE IMPACT OF THE EXTENSION
Before
After
Total TIC: €320 Mn
Central Square
Refurbishment
Delivery: October 2011
Central Square
refurbishment
South Extension
+14,000 m²
Delivery: August 2013
North
extension
South
extension
North Extension
+10,000 m²
Delivery: May 2014
Other retail
+4,000 m²
Delivery: 2011-2015
From 50,000 m² to 78,000 m² retail GLA
15
TÄBY CENTRUM
Täby sweet Täby, a home away from home
Strong connection to the region
“Bringing the world to Täby” (international brands)
Opened: 1968
Extended: 1991
Refurbished/extended: 2011-15
Located in one of Sweden’s
wealthiest areas
Voted best Swedish shopping
centre in 2014 and 2015
Voted best Nordics shopping
centre in 2015 (NCSC)
4-Star Label
Shopping, cinema
and dining
Highest shopping centre
turnover in Sweden in 2015
16
CENTRE FOR MARKET ENTRIES
1st in Nordics
1st in Sweden
1st in Sweden
1st in Sweden
1st in the Nordics
1st in Sweden
1st in Sweden
1st in a SC in Sweden
1st in a SC in Sweden
1st in a SC in Stockholm
17
NACKA FORUM
Nacka
Eastern part of Stockholm
One of the fastest growing
municipalities
GLA
54,000 m²
Footfall 6.3 Mn
148 shops
and restaurants
1,900 parking spaces
Catchment area
1.6 Mn
within 30 min
18
NACKA FORUM
Nacka Forum
Opens
1989
Rodamco
Acquisition
Atrium extension
Opens
1996
2008
4.2 Mn
28,000 m²
Ranked most
preferred centre
in Stockholm
1st Nordic
4-star shopping
centre
Nacka Forum
today
2012
2016
2011
5.8 Mn
6.1 Mn
6.3 Mn
54,000 m²
1.6 Mn inhabitant catchment
area within 30 min drive
Excellent motorway
connection
19
POSITION: THE NACKA HUB FOR EVERYDAY NEEDS
DYNAMIC, JOYFUL, CONVENIENT
The Centre
of Nacka City local life
Located in the heart of Nacka
Easy access by car and public
transportation
85,000 cars passing by daily
Leading international brands
with local champions
First choice
for Nacka families
Voted by the consumers 3rd Best
Shopping Centre in Stockholm in
2015 after Mall of Scandinavia and Täby
Strong focus on families and fun
Play area for family interaction
Family friendly facilities
20
NACKA: POSITIONED FOR GROWTH
14,000 apartments
10,000 workplaces
Extended metro line
Nacka population expected
to grow from 98,000 to
123,000 inhabitants in 2024
T
Metro to be delivered by 2025
Municipality vision
21
SOLNA CENTRUM: THE OBVIOUS CONVENIENCE CHOICE
FOR THE PEOPLE OF SOLNA
GLA
50,000 m² retail
21,000 m² offices
7 Mn visitors in 2015
120 shops
Latest refurbishments
in 2011 for TIC
of €29.9 Mn
90%
of customers
coming to Solna Centrum
within a 4-min drive
18 restaurants
53%
250 hotel rooms
of customers coming
by foot and 27%
by public transport
1,265
parking spaces
33%
are coming
for hypermarket
22
SOLNA CENTRUM: CURRENT POSITIONING
Position:
Local convenience shopping centre
Broad offer of stores and variety of services
Easy access (subway gates, bus terminal, tram station)
Opened: 1965
Acquired: 1985
Outdoor centre until 1989
Refurbishment: 2011
Tenant mix
Anchors: library, city hall, hotel
BREEAM In-Use
certification (“Excellent”)
75,000 people in Solna
+65,000 people commuting
for work
Population to grow by
~+40% until 2025
700 new apartments
19,000 m² offices being built
at Råsunda (immediate
vicinity of the centre)
23
MALL OF SCANDINAVIA AND SOLNA CENTRUM
Solna Centrum re-positioning started long before the opening of Mall of Scandinavia
Anticipated impact on footfall and sales
(-10% LfL sales YTD as of Mar-16)
Primarily on weekends and on non-food products
Ongoing re-positioning  local convenience
New residential construction
Mall of Scandinavia
Solna Centrum
24
SOLNA CENTRUM – RE-POSITIONING FOR FUTURE GROWTH
CITY PULSE
CONVENIENCE
EVERYDAY LIFE
Beating heart of Solna municipality
Transformation
Inspiration from the city
Taking the outside inside
Vibrant city streets rather than conventional malls
2010
2011
Refurbishment project (TIC €30 Mn)
Full re-positioning strategy
New graphic identity
2012
2013
2014
Leasing strategy targeting established
convenience concepts
Re-design project (TIC €1.3 Mn)
2015
2016
1,000 m² new play concept for children
2,300 m² food anchor re-location/refurbishment
800 m² new gym
25
FISKETORVET – COPENHAGEN MALL
GLA 59,600 m²
119 shops
1,600 parking spaces
Refurbished: 2012
Footfall 2015: 8.6 Mn
Catchment area
1.7 Mn within 30 min
26
FISKETORVET – COPENHAGEN MALL
BACKGROUND INFORMATION
Denmark’s economy
suffered since 2007
After long period
of stagnation it started
to take off again
in 2015
Big refurbishment
in 2012
Market rent case strategy
in a country with never
ending leases
27
POSITION: THE COPENHAGEN MALL
The shopping & leisure
destination of Copenhagen
Leading international brands
with local champions
Located in the centre of Copenhagen,
along the city waterfront
A leading weekend destination for locals
A great family attraction, with recurring
kids activities, services, and animations
The 1st IMAX in Scandinavia
Featuring Denmark’s leading cinema
Regular cooking and entertainment
themed events throughout the year
Voted Best SC Restaurant Offer in
Denmark in 2015
Easy access by car, bike, and public
transportation
A place for socializing
and excitement
BAHNE BR
GORM’S
FØTEX
SPORTSMASTER
Denmark’s 4-star shopping centre
since 2013
MONKI NORMAL
LELE
TINDERBOX
28
FISKETORVET - COPENHAGEN MALL
EXTENSION
Background information
Retail extension
Substantial developments (2015-2023)
+15,000 m² new net GLA
New metro line with Fisketorvet 1st station
after city centre (2023)
Upgrading exterior facades, creating green areas
and restaurants
New IKEA store of 37,000 m² (2019)
Potential 30,000 m² new office GLA adjacent to
shopping centre
29
JUMBO
GLA 85,100 m²
122 shops
4,600 parking spaces
Footfall 2015: 10.5 Mn
Catchment area
1.2 Mn within 30 min
30
JUMBO – SUMMARY
Built
1999
extended
2005
GLA
85,100 m²
Number of units
122
Footfall
Total Sales
10.5 Mn
The centre
with the highest
total sales
in Finland
€396 Mn
Unibail-Rodamco
owned
29,990 m²
Unibail-Rodamco share of
rental income (excl. hypermarkets)
55%
31
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