Stendoerren Fastigheter Ab Class B · OMXSTO:STEF_B

Stendoerren Fastigheter Ab Class B — Stendörren Fastigheter — Investor Presentation (April 2017)

28 slides from Stendoerren Fastigheter Ab Class B's investor presentation, Apr 3, 2017

  1. Slide 1: Presentation

    STENDORREN PRESENTATION oe se

  2. Slide 2: Agenda

    AGENDA PART 1 – BUSINESS RATIONALE PART 2 – STENDÖRREN – THE COMPANY PART 3 – GROWTH 2 PRESENTATION | APRIL 3, 2017

  3. Slide 3: Part 1 Business Rationale

    PART 1 BUSINESS RATIONALE

  4. Slide 4: Business Idea and Objectives

    20 10 MÅLSÄTTNING FÖR RESPEKTIVE NYCKELTAL 0 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16 BUSINESS RATIONALE BUSINESS IDEA AND OBJECTIVES 3,0 50 BUSINESS IDEA FINANCIAL OBJECTIVES 2,5 40 Stendörren Fastigheter creates long-term growth and value creation • Demonstrate an average long-term annual return on 2,0

  5. Slide 5: Why Focusing on Stockholm? Population Growth

    BUSINESS RATIONALE POPULATION GROWTH 1995 - 2016 REGIONAL CITIES INCL. SURROUNDING MUNICIPALITIES WHY FOCUSING ON STOCKHOLM? Source: Evidens 5 PRESENTATION | APRIL 3, 2017

  6. Slide 6: Employment Growth in the Stockholm Region

    BUSINESS RATIONALE EMPLOYMENT GROWTH IN THE STOCKHOLM REGION 1995 - 2015 Service sector Total employment 190 180 170 160 150 140 Index 130 120 110 100 90 Year Source: Evidens 6 PRESENTATION | APRIL 3, 2017

  7. Slide 7: Change in Access to Public Transport 2030

    7 Number of people 500 000 800 000 200 000 300 000 700 000 400 000 0 600 000 100 000 Gamla stan - City-omr PRESENTATION | APRIL 3, 2017 Vasastads-omr Södermalms-omr Kungsholms-omr Östermalms-omr SOLNA SUNDBYBERG STOCKHOLM Söderort Västerort HUDDINGE Today Public transport, 30 min SOLLENTUNA DANDERYD

  8. Slide 8: Condominium Prices in Suburban Stockholm

    8 SEK/sq m 60 000 10 000 50 000 20 000 30 000 40 000 1996:1 1996:3 PRESENTATION | APRIL 3, 2017 1997 :1 1997 :3 1998:1 1998:3 1999:1 1999:3 2000 :1 2000 :3 2001:1 2001:3 2002:1 2002:3 2003:1 2003:3 2004:1 BUSINESS RATIONALE 2004:3 2005:1 2005:3 2006:1 2006:3 Year 2007:1 2007:3 2008:1 2008:3 2009:1 2

  9. Slide 9: Annual Population Growth in Regional Labour Markets

    BUSINESS RATIONALE ANNUAL POPULATION GROWTH IN REGIONAL LABOUR MARKETS 1995 - 2016 1,20 1,1 1,00 0,80 0,60 0,40 0,3 Percent 0,20 0,1 0,00 0-10 000 10 000-50 000 50 000-100 000 100 000-500 000 500 000- -0,20 -0,40 -0,4 -0,60 -0,80 -0,8 -1,00 Volume (number of population) Source: Evidens 9 PRESENTATIO

  10. Slide 10: Logistics Rent Level in Greater Stockholm

    BUSINESS RATIONALE LOGISTICS RENT LEVEL IN THE GREATER STOCKHOLM REGION 680 Rent Inflation 18,0% 670 660 13,0% 650 640 8,0% 630 3,0% 620 0,0% 610 -2,0% 2010 2011 2012 2013 2014 2015 2016 Source: Newsec 10 PRESENTATION | APRIL 3, 2017

  11. Slide 11: Logistics in Greater Stockholm Region

    BUSINESS RATIONALE LOGISTICS IN GREATER STOCKHOLM REGION 16,0% Vacancy 14,0% Yield 12,0% Stibor 90 10,0% 8,0% 6,0% 4,0% 2,0% 0,0% -2,0% 2010 2011 2012 2013 2014 2015 2016 Source: Newsec 11 PRESENTATION | APRIL 3, 2017

  12. Slide 12: Part 2 Stendörren - The Company

    PART 2 STENDÖRREN - THE COMPANY

  13. Slide 13: Property Portfolio

    STENDÖRREN - THE COMPANY PROPERTY PORTFOLIO UPPSALA 80% WITHIN THE GREATER ENKÖPING STOCKHOLM REGION VÄSTERÅS STORSTOCKHOLM ESKILSTUNA STOCKHOLM SÖDERTÄLJE FLEN 13 PRESENTATION | APRIL 3, 2017

  14. Slide 14: Stendörren 2014-2016 Key Figures

    STENDÖRREN - THE COMPANY 2014 - 2016 Q4 2016 Q4 2015 Q2 2015 Q4 2014 Market value, MSEK 5 817 4 889 4 428 1 962 No. properties 95 81 75 27 Lettable area, sq m 612 000 585 000 544 000 252 000 NOI running 12m*, MSEK 316 302 - 307 280 135 Equity, MSEK 2 054 1 489 1 284 724 Senior debt, MSEK 2 653 2 621

  15. Slide 15: Project Development

    FÖRDELNING UTHYRBARYTA GEOGRAFISK FÖRDELNING ”OUR PORTFOLIO OF CASH STENDÖRREN - THE COMPANY FLOW YIELDING PRO- PERTIES CAN SUPPORT A PROJECT PORTFOLIO OF PROJECT DEVELOPMENT - APPROX. 520 MSEK BETWEEN 5 - 15% OF TOTAL PORTFOLIO VALUE” Fully and substantially vacant properties, 40 % FÖRDELNING UTHYR

  16. Slide 16: Portfolio Build Up - Actuals

    STENDÖRREN - THE COMPANY PORTFOLIO BUILD UP - ACTUALS 6 000 9,0% Property value 55 37 56 09* 53 80 Annual NOI earning capacity NOI yield excl. non-earning properties 48 89 8,0% 5 000 48 26 NOI yield 44 96 7,0% 6,8% 6,8% 7,0% 4 000 6,4% 6,2% 6,4% 6,1% * 6,2% 6,3% 6,0% 3 000 5,8% 5,6% 5,6% * 5,0% 2 00

  17. Slide 17: Debt Funding Overview

    FÖRDELNING UTHYRBARYTA GEOGRAFISK FÖRDELNING STENDÖRREN - THE COMPANY DEBT FUNDING OVERVIEW MATURITY AND INTEREST PROFILE Senior debt, 77 % Bond, 22 % 1 800 Seller notes, 1 % STÖRSTA HYRESGÄSTERNA 1 600 1 400 FÖRDELNING UTHYRBARYTA GEOGRAFISK FÖRDELNING DISTRIBUTION 1 200 FÖRDELNING UTHYRBARYTA GEOG

  18. Slide 18: Share Value and Key Equity Ratios

    STENDÖRREN - THE COMPANY SHARE VALUE AND KEY EQUITY RATIOS 2 500 83,22 KEY EQUITY RATIOS JAN–DEC JAN–DEC 77,85 80,02 2016 2015 73,50 74,36 72,25 Share price, SEK 68,5 50,0 68,75 70,02 68,50 2 000 65,47 58,25 Equity per share, SEK 74,3 53,9 56,51 60,02 54,90 57,50 EPRA NAV per share, 53,92 49,90 48,9

  19. Slide 19: Key Financial Ratios and Key Property Ratios

    STENDÖRREN - THE COMPANY KEY FINANCIAL RATIOS AND KEY PROPERTY RATIOS KEY FINANCIAL RATIOS JAN–DEC JAN–DEC KEY PROPERTY RATIOS JAN–DEC JAN–DEC 2016 2015 2016 2015 Excess Ratio (NOI/Rental income), % 68 69 Lettable area, ’000 sq m 612 585 ROE (average), % 35 24 No. of properties 95 81 Avrg. Interest

  20. Slide 20: Organisation - Created for Growth

    ”HAVING STAFF IN-HOUSE STENDÖRREN - THE COMPANY HELPS US CREATE LONG- TERM RELATIONSHIPS WITH OUR TENANTS AND ORGANISATION - CREATED FOR GROWTH ENSURES THE DELIVERY” 35 BOARD CEO co-workers MANAGEMENT TEAM MARKETING AND LEASING DEPARTMENT PROPERTY DEPARTMENT FINANCIAL DEPARTMENT PROJECT MANAGEMENT A

  21. Slide 21: Part 3 Growth

    PART 3 GROWTH

  22. Slide 22: Our Property Portfolio Is Located Where Sweden Is Growing

    GROWTH OUR PROPERTY PORTFOLIO IS LOCATED WHERE SWEDEN IS GROWING THE MOST UPPSALA VÄSTERÅS ESKILSTUNA ÖREBRO STOCKHOLM SÖDERTÄLJE UPPSALA ENKÖPING LINKÖPING VÄSTERÅS STORSTOCKHOLM GÖTEBORG JÖNKÖPING ESKILSTUNA STOCKHOLM SÖDERTÄLJE FLEN MALMÖ 22 PRESENTATION | APRIL 3, 2017

  23. Slide 23: Where in Stockholm Region Do We Want to Grow?

    THE REGION HAS SIGNIFICANTLY HIGHER GROWTH GROWTH THAN THE REST OF SWEDEN WHERE IN STOCKHOLM REGION DO WE WANT TO GROW? UPPSALA VÄSTERÅS ESKILSTUNA ÖREBRO STOCKHOLM SÖDERTÄLJE LINKÖPING GÖTEBORG JÖNKÖPING Existing portfolio Possible expansion MALMÖ 23 PRESENTATION | APRIL 3, 2017

  24. Slide 24: Growth Forecast

    FÖRDELNING UTHYRBARYTA GEOGRAFISK FÖRDELNING Possible growth GROWTH of up to 1 billion GROWTH FORECAST without new capital Approx. 500 MSEK Acquisitions required. Approx. 200 MSEK Tenant improvements Approx. 300 MSEK New builds STÖRSTA HYRESGÄSTERNA Approx. 200 MSEK Approx. 500 MSEK Approx. 300 MSEK

  25. Slide 25: Stendörren Towards Main Market

    GROWTH STENDÖRREN TOWARDS MAIN MARKET Mid Cap Mid MidCap cap Broader Improved Significantly Improved Expected Improved investor access to improved attention improved processes base capital stock from financing and internal markets liquidity analysts terms control 25 PRESENTATION | APRIL 3, 2017

  26. Slide 26: Warehouse and Light Industrial in the Greater Stockholm Region

    PROPERTY VALUE: WAREHOUSE AND LIGHT INDUSTRIAL IN THE 5 817 MSEK GREATER STOCKHOLM REGION NET PROFIT (Q1-Q4): LETTABLE AREA: 609 MSEK NO. OF PROPERTIES: 612 000 M2 95 LTV: 57 % 26 PRESENTATION | APRIL 3, 2017

  27. Slide 27: Q&A

    Q&A 27 PRESENTATION | APRIL 3, 2017

  28. Slide 28: For Further Information Please Contact

    FOR FURTHER INFORMATION PLEASE CONTACT: CALENDAR Financial report Q1 2017: May 5, 2017 FREDRIK BRODIN, CEO MAGNUS SUNDELL, CFO fredrik.brodin@stendorren.se magnus.sundell@stendorren.se 08 - 518 331 01 08 - 518 331 02 28 PRESENTATION | APRIL 3, 2017

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