Slide 1: Quarter Presentation Q1 2025
Quarter Presentation Q1 2025 22. May 2025
Slide 2: Agenda
Agenda 1 Highlights and Key Figures 2 Introduction 3 Real Estate Segment Review 4 Industry Segment Review 5 Financials 6 Outlook BORGESTAD ASA
Slide 3: Highlights and Key Figures
Highlights and Key Figures Highlights Key Figures First quarter’25, Borgestad Group delivered a result before tax of MNOK 1 -23.0, due to low season in Höganäs Borgestad. Borgestad Group has over the last twelve months delivered a profit before tax of MNOK 64.9. Agora Bytom continued its positive mo
Slide 4: Agenda
Agenda 1 Highlights and Key Figures 2 Introduction 3 Real Estate Segment Review 4 Industry Segment Review 5 Financials 6 Outlook BORGESTAD ASA
Slide 5: Strategy and Approach
INTRODUCTION | STRATEGY AND APPROACH Borgestad ASA is an industrial investment company focused on real estate and refractory, aiming to expand into niche segments in the future Strategy Key tools • Operate as a publicly listed investment company, currently focused on real estate and the refractory i
Slide 6: Investment Portfolio: Agora Bytom and Höganäs Borgestad
INTRODUCTION | INVESTMENT PORTFOLIO Our portfolio includes the shopping center Agora Bytom and the refractory company Höganäs Borgestad, both dominant in their respective markets Real Estate Refractory Agora Bytom shopping center in Poland is Höganäs Borgestad is a manufacturer and the largest inves
Slide 7: Agenda
Agenda 1 Highlights and Key Figures 2 Introduction 3 Real Estate Segment Review 4 Industry Segment Review 5 Financials 6 Summary and outlook BORGESTAD ASA
Slide 8: Agora Bytom delivers increased revenue and EBITDA
REAL ESTATE | HIGHLIGHTS FROM AGORA BYTOM Agora Bytom delivers increased revenue and EBITDA Latest trends and developments Revenue development Growth NOKm • Agora Bytom maintains a strong local market position with a consistently high occupancy rate. 14% 14% 9% 9% 2% 69,1 76,6 77,3 • Margin improvem
Slide 9: Continued improvement in retail sales and basket
REAL ESTATE | RETAIL SAILS AND FOOTFALL AT AGORA BYTOM Continued improvement in retail sales and basket, and the Polish economy shows a positive trend Retail sales (Agora Bytom's tenants' turnover 2022-2025) Comments PLN • Tenant turnover decreased by 2.8% in Q1’25 25 000 000 compared to Q1’24, but
Slide 10: Agora Bytom has a diverse tenant base and healthy lease term
REAL ESTATE | TENANT BASE AT AGORA BYTOM Agora Bytom has a diverse tenant base and a healthy weighted average unexpired lease term, ensuring low contract duration risk Highly diversified tenant base Comments Highly diversified tenant base Lettable area per tenant Lettable area per tenant 100% Other
Slide 11: Agenda
Agenda 1 Highlights and Key Figures 2 Introduction 3 Real Estate Segment Review 4 Industry Segment Review 5 Financials 6 Outlook BORGESTAD ASA
Slide 12: Revenue declined year-over-year, but outlook remains positive
REFRACTORY | HIGHLIGHTS FROM HÖGANÄS BORGESTAD Revenue declined year-over-year, but outlook remains positive with expected profitability growth supported by backlog and planned improvement measures Latest trends and developments Revenue development Growth NOKm1 • Bendik Persch Andersen appointed as
Slide 13: The Nordic refractory market is highly seasonal
REFRACTORY | SEASONALITY OF THE NORDIC REFRACTORY MARKET The Nordic refractory market is highly seasonal, with a general slowdown in Q1 and Q4, hampering profitability Historical quarterly average revenue share (2021-2024) Comments Revenue share (% of annual rev.) • The Nordic refractory market is h
Slide 14: Höganäs Borgestad remains well positioned to build on momentum
REFRACTORY | REVENUE AND PROFITABILITY DEVELOPMENT OF HÖGANÄS BORGESTAD Despite a slower start in Q1, Höganäs Borgestad remains well positioned to build on its positive momentum going forward LTM turnover and EBIT development¹ Comments Revenue (SEKm) EBIT (SEKm) • With a good order backlog and prosp
Slide 15: Update on sale-leaseback in Bjuv
REFRACTORY | UPDATE ON SALE -LEASEBACK IN BJUV The previously announced court decision on the sale-leaseback with Bjuv municipality is appealed by the municipality Backdrop • In Q4 2023, Höganäs Borgestad agreed to sell two properties housing the Group’s refractory production to Bjuv Municipality, w
Slide 16: Agenda
Agenda 1 Highlights and Key Figures 2 Introduction 3 Real Estate Segment Review 4 Industry Segment Review 5 Financials 6 Outlook BORGESTAD ASA
Slide 17: Financials: Profit and Loss
FINANCIALS | PROFIT AND LOSS Profit declined in Q1’25 compared to Q1’24, driven by lower revenue in Höganäs Borgestad and negative effects from financial items Comments • Over the last twelve months Borgestad Group has had a revenue of MNOK 1,153 and an EBITDA of MNOK 129.3 • Borgestad Group has a d
Slide 18: Financials: Balance
FINANCIALS | BALANCE Working capital increased ahead of high season, debt levels remains stable, and mortgage to be refinanced before maturity in June Comments • The booked value of investment property decreased due to a stronger NOK against Euro. • Working capital increased to MNOK 216.6 up from MN
Slide 19: Cash Flow and Liquidity
FINANCIALS | CASH FLOW AND LIQUIDITY Negative cash flow from operations, investments, and financing reduced the cash position, which remains solid going into high season Comments • The Group's year-to-date cash flow from operating activities was negative with MNOK 29.8 (positive MNOK 27.48). • Cash
Slide 20: Agenda
Agenda 1 Highlights and key figures 2 Introduction 3 Real estate segment review 4 Industry segment review 5 Financials 6 Outlook BORGESTAD ASA
Slide 21: Outlook and Priorities
Outlook and Priorities Höganäs Borgestad remains focused on operational improvements, capital efficiency, and cash flow gains in 2025 Revenue and EBITDA for Agora Bytom are expected to increase slightly in the years ahead, with the impact of cost-cutting and increased occupancy rate Borgestad will c
Slide 22: Alternative Performance Measures and Disclaimer
APPENDIX | ALTERNATIVE PERFORMANCE MEASURES AND DISCLAIMER Alternative Performance Measures In order to enhance investors' understanding of the Group's performance the Company presents in this Presentation certain alternative performance measures ("APMs") as defined by the European Securities and Ma
Slide 23: BORGESTAD ASA
BORGESTAD ASA