Platzer Fastigheter Holding Ab Class B · OMXSTO:PLAZ_B
Platzer Fastigheter Holding Ab Class B — Q1 2023 Earnings Presentation
27 slides from Platzer Fastigheter Holding Ab Class B's earnings presentation, Apr 19, 2023
Slide 1: Q1 1 January – 31 March 2023
Q1 1 January – 31 March 2023 CEO P-G Persson, CFO Fredrik Sjudin Stockholm, 19 April 2023
Slide 2: Summary Q1 2023
Summary Q1 2023 • Increase in rental income mitigates the consequence of higher financing costs • Strong net letting and large number of new leases • Sustainable financial model and daily improvements provide stability in an uncertain market • Reduced energy consumption and steps to increase reuse •
Slide 3: Summary January - March 2023
Summary January - March 2023 • Rental income increased to SEK 350m (311) • Rental income increased to SEK 350m (311) • The management result amounted to SEK 161m (173) • • Income from property management Profit for the period amounted to SEK 78m (1,382) amounted to SEK 161m (173) • The property valu
Slide 4: Ambiguous market situation when Gothenburg moves toward recession
Ambiguous market situation when Gothenburg moves toward recession • Second quarter with declining activity in Gothenburg, indicator under 90 - recession • Unemployment stable and low (Jan 5.6 %) • Weak Swedish krona keeps the export industry in Gothenburg in good shape/High level of activity in the
Slide 5: Economic activity in Gothenburg
Economic activity in Gothenburg 2023-04-19 Platzer | 5
Slide 6: Office market in Gothenburg
Office market in Gothenburg Rental market Property market • Vacancies on high level but stable • Prime yields slowly increasing • Prime rents increasing in central locations • No transactions in Gothenburg in Q1 2023 driven by new rental level after increase in • Uncertainty going forward on magnitu
Slide 7: Industrial and logistics market in Gothenburg
Industrial and logistics market in Gothenburg Rental market Property market • No vacancies • Prime yields have increased more rapidly • Prime rents increasing • Few transactions in Q1 2023 • Demand from e-commerse and need for in Gothenburg/many new projects underway storage /product development clo
Slide 8: Location of Platzer properties
Location of Platzer properties • 73 properties in selected focus locations where the city is growing • SEK 21.5 billion within business area offices • SEK 4.6 billion within business area industry/logistics • SEK 1.3 billion in project properties • SEK 3.7 billion in associates Office Office project
Slide 9: Earnings capacity March, 2023
Earnings capacity 31 March, 2023 Fair value Operating surplus SEK million % SEK million % Central Gothenburg 15,857 61 613 54 North/East Gothenburg 4,512 17 232 20 South/West Gothenburg 1,124 4 67 6 Industrial/Logistics 4,553 17 226 20 Investment properties 26,046 95 1,139 99 Project properties 1,34
Slide 10: Associates March, 2023
Associates 31 March, 2023 Fair value (100 %) Operating surplus SEK million % SEK million % Investment properties Merkur (50 %) Bygg Göta Hoberg (50,3%) Sjöfolkets Fastighet Gårda Vesta (50%) Länsförsäkringar Gbg & Bohuslän Total investment properties 2,734 69 121 100 Project properties Sörred Logist
Slide 11: Our value creation
Our value creation 2023-04-19 Platzer | 11
Slide 12: Changes in market value properties
Changes in market value properties 2023 Jan-Mar 2022 Jan-Mar Value of properties, opening balance 26,994 26,031 Investments in existing properties 376 426 Property acquisitions 17 - Property sales and reclassification - -1,865 Changes in value 0 937 Value of properties, closing balance 27,387 25,529
Slide 13: Increased value in the portfolio
Increased value in the portfolio Gullbergsvass 1:17 – Lilla Bommen 2023-04-19 Platzer | 13
Slide 14: Rental income
Rental income Q1 2023 SEKm Q1 2022 SEKm Change, % Comparable properties 344 272 26,5 Property development 5 6 Project properties 1 10 Property transactions - 23 Rental income 350 311 12,5 Economic occupancy rate 92% 92% 2023-04-19 Platzer | 14
Slide 15: Income statement
Income statement Q1 2023 SEKm Q1 2022 SEKm Q1-Q4 2022 SEKm Q2 2022-Q1 2023 SEKm Rental income 350 311 1,229 1,268 Operating surplus 266 234 939 971 Income property management (incl. assoc.) 161 173 668 659 Change in value of properties 0 937 2,562 1,625 Change in value of financial instruments -87 3
Slide 16: Positive net letting Q1 2023
Positive net letting Q1 2023 Q1 2023 SEKm Q1 2022 SEKm Investment properties, lettings 47 25 Investment properties, terminations -27 -19 Project properties, lettings - 16 Project properties, terminations - -4 Associations, lettings 2 36 Associations, terminations -1 - Total net lettings 21 54 2023-0
Slide 17: Key figures
Key figures Q1 2023 Q1 2022 Financial Debt/equity ratio (multiple) 0.9 0.9 Interest coverage ratio, rolling 12 months (multible) 3.2 4.1 Interest coverage ratio, isolated quarter (multible) 2.6 4.1 Loan-to-value ratio, % 45 45 Equity/assets ratio, % 46 45 Return on equity, % 3.4 18.3 Property-relate
Slide 18: Increase in EPRA NRV 13%, rolling 12 months (15% adj for dividend)
Increase in EPRA NRV 13%, rolling 12 months (15% adj for dividend) Hälsovetarbacken - Medicinareberget 2023-04-19 Platzer | 18
Slide 19: Net asset value 2013-2023 Q1
Net asset value 2013-2023 Q1 Share price vs EPRA NRV 160,00 140,00 120,00 100,00 80,00 60,00 40,00 20,00 0,00 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2013 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 2016 2016 2017 2017 2
Slide 20: Sustainability
Sustainability • Climate goals approved by the Science Based Target Initiative (SBTi). In line with 1.5 degree goal under Paris agreement • Aim to have a carbon-neutral property management (scope 1 and scope 2) by 2025 • Continued focus to reduce scope 3 emissions. - Increased focus 2023 to include
Slide 21: 67% green financing
67% green financing Kineum - Gårda 2023-04-19 Platzer | 21
Slide 22: Platzer's loan maturities within 2 years
Platzer’s loan maturities within 2 years 2023-04-19 Platzer | 22
Slide 23: Aria – Lilla Bommen, Merkur - Skeppsbron, Skola – Södra Änggården
Aria – Lilla Bommen Aria – Lilla Bommen Merkur - Skeppsbron Skola – Södra Änggården 2023-04-19 Platzer | 23
Slide 24: Syrhåla 3:1-Torslanda, Arendals Kulle - Arendal, Sörred
Syrhåla 3:1-Torslanda Arendals Kulle - Arendal Sörred 8:12 - Torslanda Sörred 7:21 - Torslanda 2023-04-19 Platzer | 24
Slide 25: The Future of Södra Änggården
THE FUTURE OF SÖDRA ÄNGGÅRDEN Platzer | 25
Slide 26: Invest in Platzer, invest in Gothenburg
Invest in Platzer, invest in Gothenburg 1 2 3 4 5 Specialists in Gothenburg is a Our clear model for Extensive development Increasingly green commercial property growth city value creation projects portfolio contribution to society 2023-04-19 Platzer | 26
Slide 27: We aim to make Gothenburg the best city in Europe to work in.
We aim to make Gothenburg the best city in Europe to work in. Platzer | 27
Platzer Fastigheter Holding — Q1 2023 Earnings Presentation on 6ix