John Mattson Fastighetsforetagen AB · OMXSTO:JOMA
John Mattson Fastighetsforetagen AB — Q4 2023 Earnings Presentation
16 slides from John Mattson Fastighetsforetagen AB's earnings presentation, Feb 16, 2024
Slide 1: Q4 2023
Q4 2023
Slide 2: Presentation Q4
1 Presentation Q4 16 February 2024 Per Nilsson, Eva Wiklund, CEO acting CFO
Slide 3: Decisive and proactive year
Decisive and proactive year 2 Actions Results • Implemented efficiency and cost-savings • Improvement in EBIT of about SEK 60 million programmes 1 • Reorganisation • Record high surplus ratio at 72% • Compr. review of the company’s costs • Increased customer and employee satisfaction • Lettings of v
Slide 4: Goal fulfillment Q4 2023 versus Q4 2022
Goal fulfillment 3 Q4 2023 versus Q4 2022 Growth in income from • 10% growth in net operating income for the period, 20% in comparable holdings property management/share • 14% growth in EBIT for the period, -13% total 27% in comparable holdings -18% per share • Value change of -2.5% for the quarter
Slide 5: Sustainability targets
Sustainability targets 4 1 Dynamic and safe local Safe neighbourhoods – outperform the sector average 80.6% (80.5%) communities Attractive neighbourhoods – outperform the 85.0% (85.9%) sector average 2 Reduced Scope 1 and Scope 2 GHG Responsible material and emissions by at least 40% by 2030 2.8% (5
Slide 6: Significant events in Q4 2023
Significant events in 5 Q4 2023 • New share issue with preferential rights for existing shareholders for approximately SEK 1.25 billion. • Revision of the average annual growth target for NAV per share to not less than 7% over a business cycle. • Divestment of a residential property in Högdalen and
Slide 7: Property portfolio
Property portfolio 6 4 82% property of the lettable area management is housing areas 4,270 343 apartments thousand sq m lettable area
Slide 8: Development projects
Development projects 7 Project Area Number of Status Estimated apartments1) plan date2) Gengasen, South Production Örby Stockholm/Nacka 129 ongoing Geografiboken, Detailed Devel. Abrahamsberg City/Bromma 80 plan in force Finnboda, South Detailed Devel. Nacka Stockholm/Nacka 20 plan in force Juno, De
Slide 9: Consolidated income statement
Consolidated income statement 8 2023 2022 2023 2022 Amounts in SEK m Oct-Dec Oct-Dec Jan–Dec Jan–Dec Rental revenues 146.3 151.9 610.4 620.9 96.1% Property expenses -44.8 -67.1 -173.1 -223.1 economic Net operating income 101.5 84.8 437.3 397.8 occupancy rate Central administration costs -13.8 -14.6
Slide 10: Change in property value
Change in property value 9 2023 2022 % of opening % of opening Amounts in SEK m Jan–Dec Jan–Dec SEK billion property value property value Opening property value 15,695.5 15,894.5 + Acquisitions 0.0 643.2 + Investments in new builds 1% 169.0 2% 276.0 + Investments in upgrades 1% 131.2 0% 27.8 + Other
Slide 11: Consolidated balance sheet
Consolidated balance sheet 10 Amounts in SEK m 31 Dec 2023 31 Dec 2022 ASSETS Investment properties 13, 567.6 15,695.5 7.2 Derivatives 69.0 239.4 Interest-bearing liabilities, SEK Other assets 492.2 433.2 billion Cash and cash equivalents 433.6 47.6 TOTAL ASSETS 14,562.4 16,415.8 EQUITY AND LIABILIT
Slide 12: Financing
Financing 11 Loan-to-maturity Average interest rate at the end of the quarter 2 000 3.0 years 1 500 4,00% average loan-to- maturity 1 000 0.3% 3,50% 500 0.3% 3,00% 0.3% 0 0.3% 0-1 yr. 1-2 yrs. 2-3 yrs. 3-4 yrs. 4-5 yrs. >5 yrs. Utilised Undrawn 2,50% 0.3% 0.2% 2.9 years Fixed-interest period 2,00% 0
Slide 13: Earnings capacity
Earnings capacity Amounts in SEK m 31Dec 2023 Rental value 622.4 Vacancies and discounts -22.3 Rental revenues 600.1 Operating expenses -108.8 Maintenance expenses . 13.7 Property tax 13.1 Property administration -20.2 Net operating income 444.3 Central administration costs 7 48,2 Net financial item
Slide 14: Outlook
Outlook 13 • Positive outlook • Falling inflation • Attractive locations • Annual rental negotiations • Growth focus moving forward • Property management • Adding value • Densification • Acquisitions
Slide 15: Great neighbourhoods across generations
14 Great neighbourhoods across generations
Slide 16: Questions
Questions JohnMattson (5
John Mattson Fastighetsföretagen — Q4 2023 Earnings Presentation on 6ix