Brinova Fastigheter Ab Class B · OMXSTO:BRIN_B
Brinova Fastigheter Ab Class B — Merger or Acquisition (December 2024)
21 slides from Brinova Fastigheter Ab Class B's merger presentation, Dec 11, 2024
Slide 1: Announcement presentation
Announcement presentation 11 December 2024
Slide 2: Disclaimer
Disclaimer IMPORTANT INFORMATION This presentation (the "Presentation") has been produced by Brinova Fastigheter AB (publ) (the "Company“ or “Brinova”) with assistance from Swedbank AB (publ) (“Swedbank") in connection with Brinova Fastigheter AB (publ)’s planned acquisition of a substantial part of
Slide 3: Today's presenters
Today’s presenters Presenters Agenda Per Johansson CEO, Brinova CEO since 2016. More than 25 years of experience from the 1. The Transaction Swedish real estate sector. Previous region head of Klövern and CEO for Dagon and Tribona 2. Snapshot of Brinova and K-Fastigheter 3. Transaction rationale and
Slide 4: The Transaction
1 The Transaction 2 Snapshot of Brinova and K-Fastigheter 3 Transaction rationale and overview 4 Financials
Slide 5: Transaction overview
Transaction overview The transaction – Property portfolio in exchange for new shares in Brinova The result – Brinova will more than double in size Consideration in Brinova Property value, SEKbn shares issued at NAV per share 19.2 10.8 10.8 8.4 8.4 The Acquired Property Portfolio Brinova The Acquired
Slide 6: Key transaction rationale
Key transaction rationale I. Significant geographic overlap in the attractive Öresund Region with the new property portfolio II. Focused geographical footprint enabling strengthened operating leverage III. Economies of scale due to more than doubling of the property value to SEK 19.2bn IV. Creating
Slide 7: Indicative timetable
Indicative timetable 11 December Signing of the Transaction February EGM notification EGM – decision to issue new shares in March Brinova 1 April Closing of the Transaction 7
Slide 8: Snapshot of Brinova and K-Fastigheter
1 The Transaction 2 Snapshot of Brinova and K-Fastigheter 3 Transaction rationale and overview 4 Financials
Slide 9: Brinova at a glance
Brinova at a glance Introduction to Brinova Contracted rent split • Brinova is a Swedish property company whose business is to own, develop and Split by customer segment Geographical split (100% South Sweden) manage properties Residential Commercial • The portfolio is located in South Sweden 39% 23%
Slide 10: K-Fastigheter at a glance
K-Fastigheter at a glance Introduction to K-Fastigheter Rental value split within Property Management (26% of income) • K-Fastigheter is a Swedish development and property management company Rental value by geography Rental value by category East Commercial • K-Fastigheter has a strong position in t
Slide 11: Transaction rationale and overview
1 The Transaction 2 Snapshot of Brinova and K-Fastigheter 3 Transaction rationale and overview 4 Financials
Slide 12: The Acquired Property Portfolio in brief 1/2
The Acquired Property Portfolio in brief 1/2 Financials (Q3’24) Selected properties Rental value by geography Contracted rent by category 65% of Commercial properties 7% completed after Hässleholm Amerika Södra 27, Helsingborg Värnhem 2, Hässleholm Other 2019 21% 25% SEK SEK Helsingborg 563.8m 16% 5
Slide 13: The Acquired Property Portfolio in brief 2/2
The Acquired Property Portfolio in brief 2/2 Three ongoing forward funded projects are included in The Acquired Property Portfolio Pederstrup By 1, Copenhagen Total Expected Total sq.m apartments completion 11,054 153 Q2-Q4’25 Skjutskontoret 3, Malmö Viktoria 22, Helsingborg Total Total Total sq.m T
Slide 14: New Brinova at a glance – leading Swedish residential real estate company
New Brinova at a glance – leading Swedish residential real estate company Introduction to New Brinova Contracted rent and property value splits (Pro forma Q3’24) • One of the largest listed residential real estate companies in Sweden Contracted rent by category Property value (SEKbn) • Operating lev
Slide 15: Benchmarking vs. peers – significant increase in size
Benchmarking vs. peers – significant increase in size Property value, SEKbn Portfolio of SEK 10.8bn(a) in property value will be transferred to Brinova 24.5 19.2 15.0 13.9 13.7 13.3 13.0 9.0 8.4 7.0 4.8 Sveafastigheter New Brinova K-Fastigheter John Mattson Neobo HEBA Trianon Klarabo Brinova Genova
Slide 16: Capitalisation table
Capitalisation table Pre transaction Post transaction Illustrative example – post intended dividend 7 7 7 Largest owners Capital % Votes % Largest owners Capital % Votes % Largest owners Capital % Votes % Backahill AB 24.0% 40.0% K-Fastigheter 58.4% 58.4% Erik Selin Fastigheter AB 18.4% 18.4% Fastig
Slide 17: Financials
1 The Transaction 2 Snapshot of Brinova and K-Fastigheter 3 Transaction rationale and overview 4 Financials
Slide 18: The Acquired Property Portfolio financials
The Acquired Property Portfolio financials Income statement Balance sheet SEKm Q1-3 2024 SEKm 30 Sep 2024 Rental income 320.9 Assets Other income Investment properties 10,076.7 4.6 Other non-current assets 21.6 Operating costs -131.0 Total non-current assets 10,098.3 Gross profit 194.5 Current asset
Slide 19: New Brinova pro forma financials
New Brinova pro forma financials Income statement Balance sheet SEKm Q1-3 2024 SEKm 30 Sep 2024 Rental income 727.5 Assets Other income Investment properties 18,524.8 5.9 Other non-current assets 70.0 Operating costs -272.5 Total non-current assets 18,594.8 Gross profit 460.9 Current assets 428.6 Ce
Slide 20: Consolidated K-Fastigheter pro forma financials
Consolidated K-Fastigheter pro forma financials Income statement Balance sheet SEKm Q1-3 2024 SEKm 30 Sep 2024 Rental income 859.5 Assets Other income Investment properties 23,461.0 369.1 Other non-current assets 2,165.6 Operating costs -587.7 Total non-current assets 25,626.6 Gross profit 640.9 Cur
Slide 21: Thank you
> 4 Thank you
Brinova Fastigheter — Merger or Acquisition (December 2024) on 6ix