Eastnine Ab · OMXSTO:EAST

Eastnine Ab — FY2020 Earnings Presentation

20 slides from Eastnine Ab's earnings presentation, 2021

  1. Slide 1: Year-End Report 2020: All time high earnings

    YEAR-END REPORT 2020 All time high earnings Please type questions during the presentation. They will we be answered at the end of the presentation.

  2. Slide 2: Agenda

    Agenda • Highlights Presenters • Property portfolio and investments • Financials • Why Eastnine? Kestutis Sasnauskas Britt-Marie Nyman CEO & weightlifter CFO, Deputy CEO & hunter 2

  3. Slide 3: Highlights 2020

    Highlights 2020 • All time high earnings • Growth in property portfolio • New business plan with ambition to double • MFG stands strong • In top of sustainability 3

  4. Slide 4: Property portfolio & investments

    Property portfolio & investments

  5. Slide 5: Property portfolio in Vilnius

    Property portfolio in Vilnius 3Bures-1,2 3Bures-1,2 & 3 2 GLA, sq.m. 42,000 S7-1 Key tenants Swedbank, Visma Acquisition 2014 Completion 2008/2018 Certification LEED Platinum Vilnius 312 EURm 84% 3Bures-3 S7-2 S7-1 & 2 & 3 1 1 GLA total, sq.m. 42,500 Key tenants Danske Bank, Telia 3 2 Acquisition 20

  6. Slide 6: Property portfolio in Riga

    Property portfolio in Riga Riga Alojas Biroji 3 61 EURm Alojas Biroji GLA, sq.m. 11,000 16% Key tenants Ellex Klavins, Rimi, Sennder Acquisition 2018 Completion 2009 Valdemara Centrs 1 Valdemara C 3 Certification LEED Platinum GLA, sq.m. 8,500 2 Key tenants Webhelp, Sorainen 1 The Pine project The P

  7. Slide 7: Tenants and occupancy

    Tenants and occupancy • Total of 120 tenants and 160 lease agreements. Tenant Annual Share of Sq.m. Contracts Lease term, rent, annual years to • Average remaining lease term 4.4 years, largest tenants 5.1 years. EURk rent, % expiry • Danske Bank is largest tenant with 27 per cent of total annual re

  8. Slide 8: MFG Property fund

    MFG Property fund • Total income (prel figures) increased by 10 per cent to RUB • Unrealised value change, for Eastnine’s share of East Capital Baltic Property Fund II, amounted to EUR 1,019k during the year. 25,219m (22,990). • E-commerce increased 78 per cent and accounted for 34 per cent (21) • D

  9. Slide 9: Sustainability

    Sustainability • Improved GRESBs results • Green financing framework received Dark Green and Excellent rating from CICERO. • 87 per cent of the property portfolio was environmentally certified with LEED Platinum or BREEAM Excellent • Top ranked in the Allbright Foundation’s ranking of gender equalit

  10. Slide 10: Financials

    Financials eastnine ©

  11. Slide 11: Income Statement

    Income Statement 2020 2019 Change, 2020 2019 Change, • Larger property portfolio EURk Jan-Dec Jan-Dec % Oct-Dec Oct-Dec % • Higher rent level Rental income 19,186 13,348 +44 5,251 4,161 +26 Property expenses • Economies of scale -1,689 -1,402 +20 -267 -410 -35 Net operating income 17,497 11,946 +46

  12. Slide 12: Statement of financial position

    Statement of financial position EURk 2020-12-31 2019-12-31 Change, % • Statement of financial position mainly affected by acquisitions of properties, Investment properties 372,400 290,256 +28 unrealised changes in value and sale of repurchased shares. Long-term securities holdings 102,152 88,709 +15

  13. Slide 13: Key figures

    Key figures 2020/ 2019/ Oct-Dec 2020/ Oct-Dec 2019/ 2020-12-31 2019-12-31 2020-12-31 2019-12-31 Properties Occupancy rate, % 92.6 92.7 Surplus ratio, % 91 89 95 90 Average rent level, 14.9 14.7 EUR/sq.m./month Finance LTV, % 36 36 LTV properties, % 46 47 Return on equity, % 12.5 13.9 52.5 30.3 Share

  14. Slide 14: Current Earning capacity

    Current Earning capacity EURk 2020-12-31 2020-09-30 Change, % • Increased rental level but decreased rental income due to vacancies. Rental value 22,791 22,730 0 Vacancy value -1,799 -1,371 +31 • Vacancies mean higher property costs, since leases often are triple-net. Rental income 20,992 21,359 -2

  15. Slide 15: Debt financing

    Debt financing • Liabilities to credit institutions were EUR 173m (138). • Loan maturity was 3.0 years (3.5) and interest maturity 2.3 years (3.1). • Average interest rate was 2.3 per cent (2.3). Banks LTV & Equity/asset ratio Financing maturity % MEUR 100 80 15% 75 60 62 54% 40 50 46 36 25 20 31% 0

  16. Slide 16: Share & shareholding

    Share & shareholding Shareholder Shares, no. % • Market cap 2,769 SEKm, based on the share price 125 SEK at year-end. Peter Elam Håkansson1 6,074,754 27.2 • Shareholders: 4,990 of which 74 % Swedish. Arbona AB (publ) 2,240,328 10.0 • Proposed dividend: 3.00 SEK/share (2.70), corresponds to increase

  17. Slide 17: Why Eastnine?

    Why Eastnine? eastnine ©

  18. Slide 18: Why Eastnine?

    Why Eastnine? 1 Unique portfolio • Collection of some of the best office properties in the Baltics. • Modern class-A properties with the highest environmental standards. • Prime locations in the Baltic capital cities. 2 Strong cash generation • Higher property yields than for comparable properties i

  19. Slide 19: Long term growth…

    Long term growth… EURk Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Rental income 1,088 1,325 1,657 1,634 1,993 2,282 2,339 2,516 2,947 3,099 3,142 4,161 4,475 4,467 4,993 5,251 Property expenses -309 -287 -327 -745 -

  20. Slide 20: Baltics the new Nordics, journey has just begun!

    Baltics the new Nordics, journey has just begun!

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