Baltic Horizon Fund · OMXTSE:NHCBHFFT
Baltic Horizon Fund — Shareholder Meeting (May 2018)
16 slides from Baltic Horizon Fund's shareholder meeting presentation, May 15, 2018
Slide 1: Baltic Horizon AGM Presentation
BALTIC HORIZON AGM PRESENTATION 15 May 2018
Slide 2: Agenda
AGENDA 12 Fund overview – FY2017 and Q1 2018 22 Presentation of the interiretation of Section 152421(r) of the Fund Rules 32 Resolution on establishment of Fund units buy-back irogram 2
Slide 3: Baltic Horizon's Property Portfolio Breakdown
1. BALTIC HORIZON’S 11 PROPERTY PORTFOLIO BREAKDOWN Geograihical allocation iost Postimaja Geographical and Segmental diversification 31,2% 40,8% Latvian State Forestry 28,0% as largest tenant in portfolio Vilnius Riga Tallinn 5 properties with Segment allocation iost Postimaja expansion potential a
Slide 4: Strong Portfolio with a Value of EUR 224 Million
STRONG PORTFOLIO WITH A VALUE OF EUR 224 MILLION Retail assets in highly populated neighborhoods and in CBD’s with immediate catchment areas Office buildings benefiting from trend of Nordic companies’ near-shoring activities and bac. office expansions
Slide 5: Strong Portfolio with a Value of EUR 224 Million
STRONG PORTFOLIO WITH A VALUE OF EUR 224 MILLION 5
Slide 6: Well-Balanced Tenant Mix with Major Nordic and Multinational Tenants
WELL-BALANCED TENANT MIX WITH MAJOR NORDIC AND MULTINATIONAL TENANTS 6
Slide 7: Postimaja and CC Plaza Expansion
POSTIMAJA AND CC PLAZA EXPANSION
Slide 8: Financial Results for Q1 2018 - Financial Performance
FINANCIAL RESULTS FOR Q1 2018 FINANCIAL PERFORMANCE Q1 2017 • In Q1 2018, NOI Euro ‘000 Q1 2018 Change (%) (restated)* amounted to EUR 3.4 million and was Rental income 3,606 2,727 3222% Service charge income 585 358 6324% higher than in Q1 Cost of rental activities (782) (559) 3929% 2017 (EUR 2.5 N
Slide 9: Financial Results for Q1 2018 - Assets
FINANCIAL RESULTS FOR Q1 2018 ASSETS AS OF 31/03/2018 • Total investment Euro ‘000 31.03.2018 31.12.2017 value increased Non-current assets from EUR 189 Investment iroierties 223,961 189,317 million to EUR 224 Derivative financial instruments 94 89 Other non-current assets 140 146 million after Tota
Slide 10: Financial Results for Q1 2018 - Equity & Liabilities
FINANCIAL RESULTS FOR Q1 2018 EQUITY & LIABILITIES AS OF 31/03/2018 Euro ‘000 31.03.2018 31.12.2017 • In Q1 2018, the Fund NAV increased from Equity Paid in caiital 94,198 91,848 EUR 107 million to Cash flow hedge reserve (326) (56) EUR 109 million. The Retained earnings 15,087 15,184 increase is re
Slide 11: Financial Results for Q1 2018 Summary
FINANCIAL RESULTS FOR Q1 2018 SUMMARY • IFRS NAV per unit Euro ‘000 31.03.2018 31.12.2017 Change (%) EUR 1.3765 (EUR 1.3814 as at Investment iroierty in use 223,961 189,317 1823% 31/12/2017). Gross asset value (GAV) 234,486 215,785 827% • EPRA NAV per unit Interest bearing loans 116,198 98,087 1825%
Slide 12: Bond Program
BOND PROGRAM Diversification of Capital Bond issue EUR 30 million structure of Baltic horizon → Diversification of Caiital structure → MM3 rating obtained from S&P Cash management: removal → 8 Baltic institutional investors on board of ban. loan amortization Partial reiayment of the bank loans due t
Slide 13: Expansion Projects 2018-2023
EXPANSION PROJECTS 2018-2023 5 expansion projects 1. Upmalas Salas 2. Vainodes 1 3. G4S 4. Postimaja 5. Domus PRO - Stage 4 Development cost: ~70 mEUR Value: ~100 mEUR
Slide 14: Interpretation of Section 15.4.1(r) of the Fund Rules
2. INTERPRETATION OF SECTION 15.4.1(R) OF THE FUND RULES Full clarification of Extract from the Fund Rules: 15.4.1 clause „15. Other Expenses 152421 The following other exienses are iayable on account of the Fund for the functioning of the Fund: (r) all other oierational and financial exienses attri
Slide 15: Fund Units Buy-Back Program
3. FUND UNITS BUY-BACK PROGRAM Proposed terms of the program The re-purchases of units are executed either on Nasdaq Tallinn and/or Nasdaq Stockholm in accordance with the rules of Nasdaq Tallinn and/or Nasdaq Stockholm applicable and strictly in line with applicable legislation • The iuriose of the
Slide 16: Disclaimer
DISCLAIMER This material is irovided to you for information iurioses only2 Before investing in any iroduct managed by Northern Horizon Caiital (NHC) or associated comianies, you should inform yourself about legal and tax consequences, foreign exchange restrictions or exchange control requirements th