Corem Property Group Ab Class A · OMXSTO:CORE_A
Corem Property Group Ab Class A — FY2022 Earnings Presentation
25 slides from Corem Property Group Ab Class A's earnings presentation, Feb 21, 2023
Slide 1: Year-end Report 2022
COTrelm 2023-02-21 Year-end Report 2022
Slide 2: Corem Property Group
Corem Property Group Corem is a leading commercial real estate company, focusing on urban and growth regions. In close dialogue with customers, we aim to create solutions that contribute to efficiency, profitability and mutual growth. The portfolio is geographically well focused and managed through
Slide 3: Corem 31 December 2022
Corem 31 December 2022 458 Properties 3,195 Lettable area, tsq.m. 78,387 Property value, SEKm 4,940 Rental value, SEKm 91 Economic occupancy rate in the investment portfolio, % 26.42 NAV per ordinary share of Class A/B, SEK corem |
Slide 4: January — December 2022 summary
January — December 2022 summary 4,491 1,675 o/ Income, SEKm Profit from property LTV, % management, SEKm -2,934 52 2,5 Changes in value Average yield, % ICR of properties, SEKm corem |
Slide 5: A portfolio of commercial properties focused to attractive locations
A portfolio of commercial properties focused to attractive locations in major cities and growth regions vo SEKm 35000 49 7 \ Gothenburg } Jenképing { f @ Property value SEK > 10 bn 5000 | | | | |_| @ Peover vatue SEK > 2-10 bn 0 Wee Ss oy x) < > s Ss KS @ Property value SEK > 1-2 bn 30000 25000 39%
Slide 6: Property types that complement each other
Property types that complement each other PROPERTY VALUE BY PROPERTY TYPE Other 10% ™ Office 62% Retail 7% ® Logistics 21% LETTABLE AREA BY TYPE Other 8% Retail 8% ™ Office 46% @ Logistics 38% corem |
Slide 7: No. of tenants
4,000 No. of tenants 4,940 Rental value, SEKm 91 Economic oecupancy rate in the investment portfolio, % 7,000 No. of leases U.546 Reftalgralue, SEK/ per sornat BLO Averagé remaining leaseterm, years CONTRACT MATURITY 2023 2024 2025 2026 corem |
Slide 8: Attractive customer mix
Attractive customer mix ERICSSON ZS ©Baxter eS postnord instabox | Linképing martin&servera Swedbank & oo) bring ‘eremds tat votLva CODAN WURTH & GROUP [ZTeINEyaryye Matftemse- @ruxircron Attendo@@O U!) NovarTis G:s din matbutik pa natet ie. Region fae] _ ; (@@) —seveco —ahisell Ostergotiand — “ec A
Slide 9: Net letting
Net letting Net letting totaled SEK -26 million over the last four quarters. During the past quarter, net letting summed up to SEK 4 million. 154... NEW LETTINGS AND RENEGOTIATIONS DURING Q4 140 120 ~~ 100 [ _\ Rental value SEK / sqm Qi Q2 G3 Qi Q2 Qs Qi Q2 Q@3 Qa = a 9 Gog Qi Q2 lox) 2015 m2016 m20
Slide 10: Selection of recent lettings signed
10 Selection of recent lettings signed A number of large lease contracts signed during Q4 In New York, a 12-year lease has been signed with WonderView Studios for approximately 770 sq.m. Moving-in planned Q3 2023. In Orebro, a 6-year lease has been signed with the County Administrative Board for 3,9
Slide 11: Property transactions
Property transactions Transactions are an integral part of Corem’s business model, providing means to focus, improve, and adapt the portfolio to market factors Divestments to concentrate portfolio, geographically and regarding property types Continued focus on divestments in 2023 to strengthen balan
Slide 12: Divestment activities
12 Divestment activities Divestment of 14 properties in Q4 totaling SEK 619 million. Agreements to divest 53 properties for a total of SEK 5,585 million signed during Q4, with transfer of possession during 2023. Transactions in line with communicated divestment strategy. Strengthens Corem’s long ter
Slide 13: Creation of a new Klévern AB
13 Creation of a new Klévern AB —a residential property company for climate-smart and efficient rental housing Together with ALM Equity, Corem has established a new, joint company with the purpose to develop space-efficient and climate- smart rental housing for own management; the new Klévern. Corem
Slide 14: Property development
14 Property. development Ensure our properties can meet future needs and demands, maintaining the attractiveness of the portfolio over time. ¢ Adapting to customer needs, enabling letting at attractive terms * Increases energy efficiency and technical standard * Includes urban development projects i
Slide 15: Reduced climate impact
Reduced climate impact Our aim is to ensure an attractive property portfolio which creates long-term sustainable value without negative impact on people or the environment. | Good business partner and Corem’s long-term sustainability goals: long-term * All energy used in Corem's operations shall val
Slide 16: Property value and financing
oe eee and financing 16
Slide 17: Property value and Lettable area
7 Property value and Lettable area SEKm 90000 80000 70000 60000 50000 40000 30000 20000 10 000 0 Tree 2015 2016 mam Property value, Corem 2017 2018 2019 mmm Property value, Klévern (Corem Kelly) 2020 2021 —— Combined lettable area, t.sq.m. 2022 corem |
Slide 18: Property value and Rental value, per sq.m.
18 Property value and Rental value, per sq.m. SEK/Sq.m. 30 000 27 000 24 000 21000 18 000 15 000 12 000 9 000 6 000 3 000 2015 2016 2017 2018 mmm Property value per sqm 2019 2020 Rental value per sqm 2021 2022
Slide 19: 1800 1600 1400 1200 1000 2015 2016 2017 18 2019 2020 2021 2022
1800 1600 1400 1200 1000 800 600 400 200 0 2015 2016 2017 2018 2019 2020 2021 2022
Slide 20: BBB- stable outlook
BBB- STABLE OUTLOOK 3 70 4,5 60 4,0 2,9 3,5 2,8 50 3,0 2,7 40 2,5 2,6 30 2,0 1,5 2,5 20 1,0 2,4 10 0,5 2,3 0 0,0 2015 2016 2017 2018 2019 2020 2021 2022 2015 2016 2017 2018 2019 2020 2021 2022 2015 2016 2017 2018 2019 2020 2021 2022
Slide 21: Financing
2 Financing Outstanding loan volume: 47,473 SEKm LTV properties: 45 per cent LTV: 57 per cent Average capital fixed term: 3.3 years Average fixed interest term: 1.9 years Average interest rate: 3.6% Interest Coverage Ratio: 2.5 Refinancing of bank loans made during the quarter has been made at large
Slide 22: 2015 2016 2017 2018 2019 2020 2021 2
35 30 25 20 15 10 5 0 2015 2016 2017 2018 2019 2020 2021 2022
Slide 23: 0,70 0,60 0,50 0,40 0,30 0,20 0,10 0,00 2010 2011 2012 2013 2014 2015
0,70 0,60 0,50 0,40 0,30 0,20 0,10 0,00 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022*
Slide 24: Focus and future outlook also for changing markets
corem | Focus and future outlo ( also for changing markets * Divestments to build financial strength + Well functioning letting and property managemeh * Decrease in new investment project volume * — Stable finances with options for managing also rising interest levels and the currently volatile bond
Slide 25: Questions
Questions