Sveafastigheter Ab · OMXSTO:SVEAF
Sveafastigheter Ab — Q4 2024 Earnings Presentation
23 slides from Sveafastigheter Ab's earnings presentation, Feb 19, 2025
Slide 1: Sveafastigheter Year-End Report 1 January-31 December 2024
& Sveafastigheter YEAR-END REPORT 1 JANUARY-31 DECEMBER 2024
Slide 2: Presenting today
Presenting today Erik Hävermark CEO 2 2
Slide 3: About
About 3
Slide 4: Our mission is to manage and develop homes
Our mission is to manage and develop homes for more people, where current and future generations can thrive and feel secure
Slide 5: Business model based on operational efficiency
Business model based on operational efficency and profitable organic growth 5 5
Slide 6: Our history
Our history ‘Sveafastigheters property portfolio and organization derives from three separate companies * YaLaHOILsvsvaAS ‘Samhillsbyggnadsbolaget i Norden AB (SBB) 8,074 apartments in investment properties 2 3,331 apartments in development A Property management organization Sveafastigheter Bostad A
Slide 7: Successful listing on First North Premier Growth Market
Successful listing on First North Premier Growth Market 7 7
Slide 8: Q4 Performance
at Q4 Performance SN
Slide 9: Increased profit and growth
Increased profit and growth FINANCIAL HIGHLIGHTS, OCTOBER – DECEMBER 2024 (SEK) Rental income Net operating Profit from property Unrealised changes Result from income management* in property values the quarter* 352m 215m 39m 195m 256m + 22.6% + 36.9% 9 9 * Non-recurring costs of 25m during the quart
Slide 10: Delivering on our strategy
Delivering on our strategy RENTAL INCOME (SEKm) COMPLETED NEW CONSTRUCTION (# OF APARTMENTS) 658 606 1,361 1,126 280 +5.6% 120 like-for-like 80 2023 (FY) 2024 (FY) 2023 (FY) Q1 2024 Q2 2024 Q3 2024 Q4 2024 NET OPERATING INCOME (SEKm) NET OPERATING INCOME MARGIN (%) 860 63.2 60.9 685 55.2 55.7 +8.4%
Slide 11: Stable occupancy rate
Stable occupancy rate OCCUPANCY RATE (%) COMMENTS Sveafastigheter established 100% of properties in its present form managed internally • Continued focus on increasing occupancy rate. • Occupancy rate for assets older than 3 years increased by 0.2 94.8 94.9 94.5 94.7 94.6 percentage points since las
Slide 12: Profitability is temporarily impacted by administrative costs and tax
Profitability is temporarily impacted by administrative costs and tax INCOME STATEMENT COMMENTS 2024 2024 2023 Amount in SEKm Rental income Oct-Dec 352 FY 1,361 FY 1,126 • Administrative costs include non- Total property expenses -136 -500 -441 recurring items of SEK 61m, and Net operating income 21
Slide 13: Continued progress in sustainability
Continued progress in sustainability HIGHLIGHTS IDENTIFIED MATERIAL SUSTAINABILITY TOPICS • Carried out a double materiality assessment • Started climate data collection for scope 1-3 for the year 2024 • Invested SEK 55 million this year in profitable projects that improve energy performance Environ
Slide 14: Properties under management
Properties under management HIGHLIGHTS • Rent increased by 20.9% and 5.6% for like-for-like portfolio this year, with a 4.8% average increase set for 2025 for 80% of portfolio • 17 apartments have been renovated in Q4 and 73 apartments for full year • SEK 55m invested in profitable energy projects •
Slide 15: Properties under management
Properties under management 15 15
Slide 16: Properties under construction
Properties under construction HIGHLIGHTS • Started construction of 540 apartments in Stockholm, Nacka and Skellefteå • 120 apartments completed during the quarter and 1,138 apartments during the year. FOCUS GOING FORWARD • Execute ongoing production in line with budget and timetable • Construction s
Slide 17: Project development
Project development HIGHLIGHTS • Received land allocation for 100 rental apartments in Solna FOCUS GOING FORWARD • Effective progress of ongoing zoning planning processes • Obtain land allocations with focus on Greater Stockholm TARGETS • Obtain land allocation agreements for new production for at l
Slide 18: Earnings capacity
Earnings capacity Properties under Ongoing Amount in SEKm management construction* Total COMMENTS Rental value 1,594 49 1,643 • New construction that have been Vacancy -86 0 -86 completed within the last 12 months Rental income 1,508 49 1,557 and properties that have been reported Property expenses
Slide 19: Changes in property value
Changes in property value MARKET VALUE AND AVERAGE YIELD REQUIREMENT FOR COMPARABLE PORTFOLIO 19 19
Slide 20: Solid financial structure
Solid financial structure HIGHLIGHTS • Attractive financing structure focused on traditional bank financing FUNDING SOURCES • Refinanced bank loan of SEK 1,077m with new maturity in 2027 • Entered credit facility agreement of SEK 1,000m FOCUS GOING FORWARD • Maintain a strong balance sheet and an at
Slide 21: Key takeaways
Key takeaways Strong growth in rental income and NOI Increased profitability Strong capital structure with low risk Continued profitable growth going forward through new developments and renovations Expected strong rental development in 2025 and in 2026 21 21
Slide 22: Q&A
Q&A 22
Slide 23: Sveafastigheter
a Sveafastigheter info@sveafastigheter.se +46 (0)200-22 72 00