Klarabo Sverige Ab Class B · OMXSTO:KLARA_B
Klarabo Sverige Ab Class B — Q1 2024 Earnings Presentation
19 slides from Klarabo Sverige Ab Class B's earnings presentation, May 3, 2024
Slide 1: Q1 report
Q1 report 3 May 2024 KlaraBo property in Motala 1
Slide 2: Today's presenters
Today’s presenters Andreas Morfiadakis Per Holmqvist CEO and co-founder CFO 2
Slide 3: Snapshot
Snapshot 3
Slide 4: Stabilised property values and sharp increase in income from property management
Stabilised property values and sharp increase in income from property management • Financial development Q1 • Increased revenue +10% due measures to raise standards +10% and the general annual rent negotiations Revenue SEK 157 m • Net operating income +9% +9% Net operating income SEK 73m • Income fr
Slide 5: Portfolio and Business model
Portfolio and Business model 5
Slide 6: Fully occupied property portfolio
Fully occupied property portfolio Geographical presence and 6,610 97.8% SEK 1,130 administrative areas Real occupancy rate Average rent per sq.m and year, Apartments under management unrenovated portfolio SEK 17,991 85% 437,500 Market value per sq. m. Residential Sq.m lettable area housing North Cen
Slide 7: Visby – two properties acquired in 2018
Visby – two properties acquired in 2018 • Two properties – a total of 885 apartments • Total lettable area 63,000 sqm • Real occupancy rate 100% • Current renovation potential 72% • Unrenovated average rent 1,265 SEK/m2 → renovated average rent 1,663 SEK/m2 7
Slide 8: Proven model creates value over time
Proven model creates value over time • About 4,000 apartments, or 60% of total portfolio with renovation potential, excluding construction • Renovations only after tenants have moved out at their own initiative • Renovations increase property values and strengthens cash flow • Rental value for apart
Slide 9: Low risk in project portfolio with potential over time
Low risk in project portfolio with potential over time Planned development rights by region • No risk of material write-downs or costs associated with project portfolio 0 apartments under construction Contracted annual and potential 230 294 rental value, SEK m 900 1,098 788 800 apartments in project
Slide 10: Financials Q1
Financials Q1 10
Slide 11: Increased revenue, income from property management +35%
Increased revenue, income from property management +35% 2024 2023 2023 Revenue 3 months 3 months Jan- 12 months SEK m Jan-Mar Mar Jan-Dec • Q1 revenue +10% YoY Revenue 156.7 142.9 589.7 • 9% increase in revenue, on a like-for-like basis, attributable Costs -83.3 -75.5 -252.5 mostly from renovations
Slide 12: Continued stable financial position
Continued stable financial position SEK m 31/03/2024 31/03/2023 31/12/2023 Intangible assets 0.3 0.3 0.3 Investment properties 9,020.3 9,064.2 9,031.9 • Increased exit yields in average of 8 bps throughout the Property, plant and equipment 7.1 9.2 7.7 investment properties Financial non-current asse
Slide 13: 80 percent of loan portfolio at fixed interest rates
80 percent of loan portfolio at fixed interest rates Maturity structure – Fixed interest 2024-03-31 Maturity structure – Fixed credit 2024-03-31 45% 70% 40% 60% 35% 50% 30% 25% 40% 20% 30% 15% 20% 10% 10% 5% 0% 0% <3 months >=1 yr <3 yr >=3 yr <5 yr >=5 yr <7 yr >=7 yr <1 yr >=1 yr >=2 yr >=3 yr >=4
Slide 14: Summary
Summary 14
Slide 15: Rising cash flow and income from property management
Rising cash flow and income from property management Current earnings capacity SEK m Apr 1 2024 Jan 1 2024 Oct 1 2023 Jul 1 2023 Apr 1 2023 Jan 1 2023 Rental revenue 640.1 634.9 603.9 600.6 593.8 568.8 Property expenses -261.1 -261.1 -243.8 -243.4 -243.4 -242.9 Net oper income 379.0 373.8 360.1 357.
Slide 16: Current trading
Current trading • Yearly rent negotiations finalized, average increase of 5.3 percent • Upgrades and refurbishments continues, at slightly lower pace • Occupancy rate remains at a high level and stable level – low market vacancy in rental apartments in Sweden in general • Continued high demand for h
Slide 17: KlaraBo investment highlights
KlaraBo investment highlights Over 60% of apartments in portfolio with renovation potential Continued high demand for rentals due to +23% average annual growth in NAV housing shortage, lower construction of new housing and lower disposable income since 2019 Rent increases have historically exceeded
Slide 18: Q&A
Q&A 18
Slide 19: Thank you!
Thank you! 19