Pandox Ab Class B · OMXSTO:PNDX_B
Pandox Ab Class B — Kepler Cheuvreux Property Seminar 2023
14 slides from Pandox Ab Class B's conference presentation, Nov 9, 2023
Slide 1: A different property company
Kepler Cheuvreux Property Seminar A different property company Liia Nõu, CEO 9 November 2023
Slide 2: Investment highlights
Strategic position Investment highlights A global & Deep hotel expertise Inflation protection growing market & flexible approach 1 2 3 Revenue-based leases provides Active in Travel & Tourism, a Unique portfolio of upside and inflation protection global and highly dynamic high-quality assets. Active
Slide 3: Investment highlights
Strategic position Investment highlights A global & Deep hotel expertise Inflation protection growing market & flexible approach 1 2 3 Revenue-based leases provides Active in Travel & Tourism, a Unique portfolio of upside and inflation protection global and highly dynamic high-quality assets. Active
Slide 4: Investment highlights
Strategic position Investment highlights A global & Inflation protection Deep hotel expertise & growing market 1 2 3 flexible approach Revenue-based leases provides upside and inflation protection Active in Travel & Tourism, a global Unique portfolio of while minimum guaranteed levels and highly dyn
Slide 5: A strong and well-diversified business portfolio
Strategic position A strong and well-diversified business portfolio Pandox Property Operator Group Management Activities 159 139 20 Hotel properties Leased properties Operated properties 35,851 30,201 5,650 Rooms Rooms Rooms SEK 71.2bn SEK 58.9bn SEK 12.2bn Property market value Property market valu
Slide 6: Revenue per available room above 2019
Pandox Property Management RevPAR Revenue per available room above 2019 1200 1,014 1,011 942 960 1000 891 777 760 800 661 531 600 400 200 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2019 2020 2021 2022 2023 Kepler Cheuvreux Property Seminar 9 November 2023 6
Slide 7: Average daily rate continues to drive RevPAR recovery
Hotel market development (vs 2019) Average daily rate continues to drive RevPAR recovery 45% 45% ADR *Edinburgh 40% ADR June YTD September YTD Edinburgh 42% Norway Regional 25% Norway Regional 29% Oslo 22% 35% 35% UK Regional 28% London 23% Oslo 15% *London 23% *UK Regional 25% Brussels 14% 25% Stoc
Slide 8: Investing for growth and climate transition
High-quality project pipeline Investing for growth and climate transition Property Location Business Operator Type of Completed segment investment Hotel Pomander Nuremberg, Operator Activities Pandox Total renovation Q3 2023 Germany Radisson Blu Glasgow, UK Operator Activities Pandox Renovation of r
Slide 9: Higher yields offset by higher cash flows
Property portfolio Higher yields offset by higher cash flows MSEK Comment: Higher cash flows explained mainly by a strong average price development in large parts of the portfolio Approximately 96 percent of the properties externally valued in the past 12 months, based on value Reclassifications: To
Slide 10: Growth in EPRA NRV despite higher yields
Property portfolio Growth in EPRA NRV despite higher yields Average yield, % Average interest on debt EPRA NRV per share, SEK end of period, % 8 8 250 6.95 7 6.41 7 207.5 5.92 200 186.4 6 5.41 6 5 5 4.2 150 4 4 3 3 2.6 100 2 2 Property Management 50 1 1 Operator Activities 0 0 0 22'Q2 22'Q2 23'Q3 22
Slide 11: Stable LTV, resilient ICR and solid cash position
Key financial metrics Stable LTV, resilient ICR and solid cash position Loan-to-value, % Interest-cover-ratio, times Cash and unutilised (Target interval 45-60%) (Rolling twelve month basis) credit facilities, MSEK 60 5 6,000 4.1 55 5,000 4 4,215 50 4,000 46.8 3 2.8 46.0 45 3,000 2,988 2 40 2,000 Un
Slide 12: Positive outlook
Market outlook Positive outlook We expect continued stable demand in the hotel market in Q4 2023 Seasonally weaker demand from mid-December to mid-January Some growth expected in the hotel market 2024 Hotel demand is dependent on economic activity Main risks are geopolitical instability and its effe
Slide 13: Q&A
Q&A Kepler Cheuvreux Property Seminar 9 November 2023 13
Slide 14: Pandox AB (publ) contact and forward-looking statements
Pandox AB (publ) Box 15 Tel: +46 8 506 205 50 Forward-looking statements. This presentation contains forward-looking statements. Such statements are subject SE-101 20 Stockholm www.pandox.se to risks and uncertainties as various factors, many of which are beyond the control of Pandox AB (publ), may