Stendoerren Fastigheter Ab Class B · OMXSTO:STEF_B

Stendoerren Fastigheter Ab Class B — Stendörren Fastigheter — Q3 2022 Earnings Presentation

22 slides from Stendoerren Fastigheter Ab Class B's earnings presentation, 2022

  1. Slide 1: Premises that make a difference. Third Quarter 2022

    Premises that make a difference. THIRD QUARTER 2022 STENDÖRREN

  2. Slide 2: Introduction: Business idea, market opportunity and financial objectives

    INTRODUCTION BUSINESS IDEA, MARKET OPPORTUNITY AND FINANCIAL OBJECTIVES MARKET BUSINESS OPPORTUNITY IDEA The properties are strategically located in growth areas (population and economic), mainly in Stendörren creates profitable growth Greater Stockholm and the Mälardalen region. in net asset value

  3. Slide 3: Operational Highlights Q3

    OPERATIONAL HIGHLIGHTS Q3 Excluding bankruptcy of second largest tenant Exploria NET LETTING (MSEK) ü CONTINUED STRONG NET LETTING 16 15 17 • Strong net letting in 7 consecutive quarters - vacancy below 10%. 14 14 14 • Continued strong renegotiation of lease agreements - 21% average 8 increase in re

  4. Slide 4: Financial Highlights Q3

    FINANCIAL HIGHLIGHTS Q3 ROE (%) ü FINANCIAL KEY FIGURES WELL ABOVE TARGET 26 26 • ROE 18% 22 20 20 • NAV growth 18% 18 20 18 16 16 15 14 ü REFINANCINGS OF SECURED BANK 9 9 10 DEBT 12% 8 7 7 9 • Substantially strengthened liquidity. • Substantially extended average remaining tenor on Q1 Q2 Q3 Q4 Q1 Q

  5. Slide 5: Snapshot of Stendörren

    SNAPSHOT OF STENDÖRREN PROPERTY VALUE1 RENTAL VALUE2 NOI YIELD3 LTV4 SEK SEK 5.5% 47% 12.7 bn 755 m LETTABLE AREA1 NAV5 LEASE DURATION6 BUILDING RIGHTS1 SQ.M. SEK SQ.M. 3.7 years 810,000 5,219 million 615,000 1) Property portfolio as per September 30, 2022 2) Estimated earnings capacity as of Septem

  6. Slide 6: Stendörren history in short

    STENDÖRREN HISTORY IN SHORT PROPERTY VALUE Q3 2022 PROPERTY VALUE 2021 12.7 BN PROPERTY 11.7 VALUE 2020 BN 146 PROPERTY 9.5 PROPERTIES VALUE 2019 BN 135 PROPERTY PROPERTIES VALUE 2018 8.9 BN 123 PROPERTY VALUE 2017 8.4 BN 122 PROPERTIES 2022 PROPERTY VALUE 2016 6.5 BN 121 PROPERTIES 2021 PROPERTY VA

  7. Slide 7: 4 good reasons to own a Stendörren share

    4 GOOD REASONS TO OWN A STENDÖRREN SHARE 1. STABLE CASH FLOW 2. SUSTAINABLE GROWTH • High yielding logistics, warehouse and light • Properties strategically located in growth areas (population and industrial properties with long leases. economic) in the Greater Stockholm and the Mälardalen region. •

  8. Slide 8: 1. Stable cash flow

    1. STABLE CASH FLOW DIVERSIFICATION WITH FOCUS ON GREATER STOCKHOLM PROPERTY PORTFOLIO OVERVIEW • Stendörren has a property portfolio of SEK 12,728m, with a property yield of 5.5%1 as per 30 September 2022. • Rental value2 of SEK 755m with an economic occupancy rate of 91% as per 30 September 2022.

  9. Slide 9: 1. Stable cash flow – Diversified tenant base

    1. STABLE CASH FLOW – CONTINUED DIVERSIFIED TENANT BASE LARGEST TENANTS AS PER Q3 2022 LEASE MATURITY BY RENTAL INCOME Rental Share of Rental area, Tenant income, total rental th. sq.m. SEKm income 529 Coop Logistics AB 66 130 10% 195 Alfa Laval Tumba AB 14 20 2% Åtta.45 Tryckeri AB 12 11 2% 167 Mon

  10. Slide 10: 2. Sustainable growth: Why focus on the Stockholm region?

    2. SUSTAINABLE GROWTH WHY FOCUS ON THE STOCKHOLM REGION? POPULATION STOCKHOLM REGION STOCKHOLM REGION 3 000 000 2022 – 2040 Forecasted CAGR of 0.77% • 78% By 2040 a total of 11.3m inhabitants are expected to live in Sweden. Forecasted population growth of 19,900 • The highest growth in absolute numb

  11. Slide 11: 2. Sustainable growth – Strong growth prospects

    2. SUSTAINABLE GROWTH – CONTINUED STRONG GROWTH PROSPECTS FUTURE • Continued expansion in greater Stockholm and Mälardalen. • Continue to build critical mass in new markets. • Furthermore, new markets are continuously being evaluated, with the most recent acquisitions being three industrial assets i

  12. Slide 12: 3. Value growth in projects

    3. VALUE GROWTH IN PROJECTS PROJECT PORTFOLIO WITH LARGE POTENTIAL • Fully developed up to an additional 615,000 sqm can be created, evidencing a substantial increase to the current portfolio of standing assets. • The vast majority of the building rights are located in the greater Stockholm region.

  13. Slide 13: 3. Value growth in projects – Ongoing projects

    3. VALUE GROWTH IN PROJECTS – CONTINUED ONGOING PROJECTS 77% WITHIN GREATER • Development projects STOCKHOLM REGION within logistics, light industrial, and residential ongoing. • First estimated construction completion estimated for Q4 2022. 13 Investor Presentation Premises that make a difference.

  14. Slide 14: Tegelbruket in Botkyrka

    3. VALUE GROWTH IN PROJECTS – CONTINUED TEGELBRUKET IN BOTKYRKA TEGELBRUKET • Example of underutilized asset in urban location. • Acquired in 2016 as a cash flow generating property, significant value unlocked through rezoning allowing for residential construction on underutilized parking lot. • Bui

  15. Slide 15: Sustainability - Achievements

    SUSTAINABILITY - ACHIEVEMENTS CLIMATE IMPACT KG CO2/SQ.M ENERGY INTENSITY KWH/SQ.M. DISTRIBUTION OF ENERGY SOURCES 6,00 140 41% 17% Renewables Non-renewables REDUCED CLIMATE IMPROVED ENERGY IMPACT BETWEEN 2017- EFFICIENCY PER SQ.M 2021 (KgCO2,e/sq.m) 135 BETWEEN 2017-2021 5,00 130 2% 4% 4,00 5% 125

  16. Slide 16: New sustainability strategy adopted 2022

    NEW SUSTAINABILITY STRATEGY ADOPTED 2022 ü Added focus areas (Future proofing) ü Generally increased ambitions 16 Investor Presentation Premises that make a difference.

  17. Slide 17: 4. Finance: Highlights from Q3 report

    4. FINANCE HIGHLIGHTS FROM Q3 REPORT NET LETTING (MSEK) ECONOMIC OCCUPANCY (%) Excluding bankruptcy of second largest tenant 17 Exploria 16 15 14 14 14 91 91 8 90 4 89 89 89 1 1 88 88 88 88 88 87 87 87 87 -2 -2 -4 -6 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 -11 2019 2020 2021 2022 Q1 Q2 Q3 Q4 Q1

  18. Slide 18: 4. Finance – Financial targets

    4. FINANCE – CONTINUED FINANCIAL TARGETS ROE (%) NAV GROWTH (%) 37 35 26 26 29 22 25 20 20 20 23 23 18 18 22 22 16 16 15 18 17 17 14 15 15% 13 12 12% 9 9 10 9 11 11 10 9 9 8 7 7 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2018 201

  19. Slide 19: 4. Finance – Debt funding

    4. FINANCE – CONTINUED DEBT FUNDING DEBT FUNDING OVERVIEW LOAN MATURITY INTEREST FIXING SEKm SEKm 11% 2 500 3 000 2 700 2 073 2 000 2 500 1 787 18% 1 420 2 000 1 500 1 435 1 500 1 000 1 050 712 900 1 000 71% 434 500 334 191 500 0 0 0 26 26 24 24 23 25 23 25 26 26 22 22 20 20 20 20 20 20 0 0 20 20 20

  20. Slide 20: 4. Finance – Key equity ratios and ownership overview

    4. FINANCE – CONTINUED KEY EQUITY RATIOS AND OWNERSHIP OVERVIEW % OF SHAREHOLDER % OF VOTES SEKm SEK/share CAPITAL STENDÖRREN REAL ESTATE AB 40,6 58,0 7 000 350 ALTIRA AB 10,7 14,8 LÄNSFÖRSÄKRINGAR 6 000 300 FASTIGHETSFOND 10,3 5,8 SEB INVESTMENT MANAGEMENT 9,2 5,1 VERDIPAPIRFONDET ODIN 5 000 250 EI

  21. Slide 21: 4. Finance – Assessed earnings capacity

    4. FINANCE – CONTINUED ASSESSED EARNINGS CAPACITY 755 171 • According to the company’s assessment as of Q3 2022, the total rental income (after deductions for vacancies and discounts) on a rolling 12-month basis amounts to 584 approximately SEK 755 million. • The company also estimates that current

  22. Slide 22: Thank you!

    THANK YOU! Premises that make a difference.

Stendörren Fastigheter — Q3 2022 Earnings Presentation on 6ix