John Mattson Fastighetsforetagen AB · OMXSTO:JOMA
John Mattson Fastighetsforetagen AB — Q3 2023 Earnings Presentation
16 slides from John Mattson Fastighetsforetagen AB's earnings presentation, Nov 9, 2023
Slide 1: Q3 2023
Q3 2023
Slide 2: Presentation Q3
1 Presentation Q3 9 November 2023 Per Nilsson, Eva Wiklund CEO acting CFO
Slide 3: Goal fulfillment Q3 2023 versus Q3 2022
Goal fulfillment 2 Q3 2023 versus Q3 2022 -16% growth in -28% growth income from in net asset value property management
Slide 4: Significant events in Q3 2023
Significant events in 3 Q3 2023 • Ebba Pilo Karth was appointed new CFO and will assume the role no later than 1 April 2024. Significant events after the end of the period • Decision to issue new shares with preferential rights for existing shareholders for approx. SEK 1,250 million • The financial
Slide 5: Property portfolio
Property portfolio 4 4 82% property of the lettable area management is housing areas 4,294 344,000 apartments sq m lettable area
Slide 6: Decisive and proactive ownership
Decisive and proactive ownership 5
Slide 7: Decisive and proactive ownership
Decisive and proactive ownership 6 Actions Results • Implemented efficiency and cost-savings • Improvement in EBIT of about SEK 60 million programmes 1 • Reorganisation • One organisation more highly focussed on property • Comprehensive review of the company’s management costs • Increased customer a
Slide 8: Rights issue in brief
Rights issue in brief 7 4 Fully underwritten rights issue amounting to approx. SEK 1,250 million • Conditional on adoption by the Extraordinary General Meeting on 21 November 2023 Objective • Achieve a more reasonable net LTV ratio given the prevailing macroeconomic circumstances through repayment o
Slide 9: Our growth focus moving forward
Our growth focus moving forward 8 Property • Continued focus on cost optimisation Reduce purchased energy management • Energy optimisation a priority by approx. 45% • Restart apartment upgrades Adding value • Potential upgrades identified by the company in the existing Upgrade approx. 200 portfolio
Slide 10: Consolidated income statement
Consolidated income statement 9 2023 2022 2023 2022Rolling 12 months 2022 Oct 2022–Sep Amounts in SEK m Jul–Sep Jul–Sep Jan–Sep Jan–Sep Jan–Dec 2023 Rental revenues Property expenses 154.5 -32.1 157.0 -46.1 464.1 -128.3 468.9 -155.9 616.0 -195.5 620.9 -223.1 95.8% economic Net operating income 122.5
Slide 11: Change in property value
Change in property value 10 2023 2022 2022 % of opening % of opening % of opening Amounts in SEK m property value Jan–Sep property value Jan–Sep property value Jan–Dec 5% Positive change in Opening property value 15,695.5 15,894.5 15,894.5 value from change in net operating + Acquisitions 0.0 643.2
Slide 12: Consolidated balance sheet
Consolidated balance sheet 11 Amounts in SEK m 30 Sep 2023 30 Sep 2022 31 Dec 2022 8.3 ASSETS Investment properties 14,221.4 15,799.1 15,695.5 Interest- Derivatives 249.8 249.9 239.4 bearing Other assets 462.1 536.9 433.2 liabilities, Cash and cash equivalents 32.0 109.5 47.6 SEK billion TOTAL ASSET
Slide 13: Financing
Financing 12 Loan-to-maturity(1) Average interest rate at the end of the quarter 2.5 years average loan-to-maturity Utilised Undrawn 2.6 years average fixed-interest Fixed-interest tenor tenor Note: (1) The refinancing completed after the end of the period has resulted in a longer average loan-to-ma
Slide 14: Earnings capacity
Earnings capacity Amounts in SEKm 30 Sep 2023 Rent level 622.8 Vacancies and discounts -26.1 Rental revenues 596.7 Operating expenses -111.0 Maintenance expenses 17.6 Property tax 13.7 Property administration 219 Net operating income 432.6 Central administration costs 48.2 Net financial items -263.1
Slide 15: Great neighbourhoods across generations
14 Great neighbourhoods across generations
Slide 16: Questions
Questions JohnMattson (5
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