Samhallsbyggnadsbolaget I Norden Ab Class B · OMXSTO:SBB_B
Samhallsbyggnadsbolaget I Norden Ab Class B — Q1 2022 Earnings Presentation
15 slides from Samhallsbyggnadsbolaget I Norden Ab Class B's earnings presentation, Apr 27, 2022
Slide 1: The Social Infrastructure Champion in Europe
THE SOCIAL INFRASTRUCTURE CHAMPION IN EUROPE 27 April, 2022 Skellefteå Perseus 6 – Cultural center Linköping Adjunkten 2 – Elderly care Apx. 2 PERCENT OF THE SWEDISH POPULATION IS NOW A SHAREHOLDER IN THE SOCIAL INFRASTRUCTURE CHAMPION IN EUROPE Sigtuna 2:227 – Pre-school
Slide 2: Key ratios for the first quarter 2022
KEY RATIOS FOR THE FIRST QUARTER 2022 Key take away’s – Consolidated income statement Q1 2022 Q1 2021 Difference Comments Rental income for the period 1,831m 1,325m +38% Net operating income 1,153m 858m +34% ◼ Rental income in comparable portfolios (like for like) Cash flow from operating activities
Slide 3: The Group's earnings capacity going forward – rolling 12 months
THE GROUP’S EARNINGS CAPACITY GOING FORWARD – ROLLING 12 MONTHS Current earnings capability for the Group for 12 months SEKm Surplus ratio: 74% 8 000 7 339 7 000 1 108 132 3.71 SEK per ordinary 6 000 Class A and B 111 share 5 000 1 912 200 1 180 4 000 3 000 5 427 5 286 5 397 2 000 1 000 0 Rental inc
Slide 4: Focus on a stronger rating and a lower loan-to-value ratio
FOCUS ON A STRONGER RATING AND A LOWER LOAN-TO-VALUE RATIO Key notes from the quarter ✓ ICR at the end of the quarter was 5.5x ✓ Like for like – rental growth – corresponding to an increase of 3.8% ✓ Like for like – net operating income – corresponding to an increase of 2.4% ✓ Operating profit incre
Slide 5: Fixed interest is an insurance premium for times like these
FIXED INTEREST IS AN INSURANCE PREMIUM FOR TIMES LIKE THESE Scenario assumption The fact is that SBB could manage to keep the dividend and raise it with inflation even if the nominal interest rose to 10 percent (real interest two to three percent). If SBB would lower the net debt by SEK 5bn, it woul
Slide 6: The highest net asset value growth 2019-2022 YTD
THE HIGHEST NET ASSET VALUE GROWTH 2019-2022 YTD EPRA NRV per share DEVELOPMENT OF THE LONG-TERM NET ASSET VALUE PER ORDINARY A AND B SHARE (EPRA NRV) Q1 2022 50,00 45,00 47,31 47.31 40,00 44,46 SEK per ordinary Class A and B 35,00 share 30,00 34,55 31,23 31,02 SEK 25,00 28,21 20,00 24,36 15,00 20,0
Slide 7: SBB overview and key highlights
SBB OVERVIEW AND KEY HIGHLIGHTS Company snapshot Company snapshot Portfolio book value by country Major city regions ✓ SBB operates in the world’s safest real estate asset classes – community service properties in the Nordics where 100% of tenants are sovereign or state-financed organisations and hi
Slide 8: SBB creates value from "AAA" assets
SBB CREATES VALUE FROM “AAA” ASSETS Income overview Sovereign credit risk exposure in community service Government and government- Sovereign credit rating Rental Income, Classification SEKm % of Total backed tenants Regulated rent residentials 2 320 32 Building rights for regulated rent residentials
Slide 9: Selection of SBB's largest joint ventures and associated companies
SELECTION OF SBB’S LARGEST JOINT VENTURES AND ASSOCIATED COMPANIES – SBB’S VALUE SEK 35BN Svenska Myndighetsbyggnader AB Public Property Invest AS SBB Kåpan AB SMB owns and manages properties for the judiciary, the PPI owns and manages properties for the judiciary and SBB Kåpan AB owns and manages p
Slide 10: No. 1 property developer in Europe
NO. 1 PROPERTY DEVELOPER IN EUROPE No. 1 property developer Utilising building rights to create value throughout the value chain Top property developer by project portfolio ✓ Annual target: SEK 2,000 – 2,500m (no. of apartments, c. 70 sq.m. per apartment) YTD 2022: SEK 1,642m The No. 1 Real Estate D
Slide 11: Vision 2030 - becoming climate positive in the entire value chain
VISION 2030 - BECOMING CLIMATE POSITIVE IN THE ENTIRE VALUE CHAIN Vision 2030 ✓ Climate positive in the entire value chain ✓ At least 90% social assets in the property portfolio ✓ Climate-adapted property portfolio that can cope with climate risks E Environmental targets S Social targets G Governanc
Slide 12: Recognition of ESG performance
RECOGNITION OF ESG PERFORMANCE ESG ratings Upgraded from BB to A 30% 20% 10% 0% CCC B BB BBB A AA AAA Risk reduced by 2.4 to 11.5, threshold for negligible ESG-Risk is 10.0 Peers (Market cap $7.6-$9.6bn) Exposure Management ESG-Risk Rating 40% 1. Samhällsbyggnadsbolaget i Norden AB 27.2 Low 58.5 Str
Slide 13: The Social Infrastructure Champion in Europe
THE SOCIAL INFRASTRUCTURE CHAMPION IN EUROPE Inflation adjusted rental income and long-term fixed interest rates offers stable cash 1 flow – Backed by AAA-countries Growth fueled by unique investment platform combining property management 2 with our three value-add strategies – Building right develo
Slide 14: In summary…
IN SUMMARY… … focus on a stronger rating and a lower loan-to-value ratio… SBB is stronger than ever. SBB’s rolling 12-month earnings capacity rose by 64 percent compared with the first quarter of 2021 and amounted to SEK 8,379m (5,065) at the end of the period. Earnings capacity per Series A and B s
Slide 15: Thank you!
THANK YOU! SBB Samhdllsbyggnadsbolaget {sBB) “
Samhällsbyggnadsbolaget i Norden AB (SBB) — Q1 2022 Earnings Presentation on 6ix