Baltic Horizon Fund · OMXTSE:NHCBHFFT
Baltic Horizon Fund — Q1 2023 Earnings Presentation
16 slides from Baltic Horizon Fund's earnings presentation, May 2023
Slide 1: Q1 2023 Webinar
Q1 2023 Webinar Baltic Horizon Fund
Slide 2: Notable events for the Fund
Notable events for the Fund On 27 February 2023, the Fund opened On 8 February 20 23, the F und signed a On 6 April 2023, S&P Global Ratings On 8 May 2023, the Fund completed the BURZMA f ood hall lo cated on the share sale and purchase agreement affirmed Baltic Horizon Fund’s the subscription for i
Slide 3: Disposal of Domus PRO Retail & Office
Disposal of Domus PRO Retail & Office On 8 February 2023, the Fund signed a share sale and purchase agreement with UAB PREF III to sell 100% shares of BH Domus Pro UAB which owns a retail park and an office building in Vilnius, Lithuania. The agreed price of the property was approximately EUR 23.5 m
Slide 4: Disposal of Duetto I / II
Disposal of Duetto I / II On 16 May 2023, the Fund signed a share sale and purchase agreement with East Capital to sell 100% shares of BH Duetto UAB. The agreed price of the property was approximately EUR 37 million. Originally developed by YIT and acquired by Baltic Horizon in 2017 and 2019. The pr
Slide 5: Baltic Horizon Fund portfolio summary
Baltic Horizon Fund portfolio summary The Fund is minimizing concentration risk by diversifying the client base, segment, and geographical allocation Net rental income by segment, Q1 2023 Rental concentration: 10 largest tenants as of 31 March 2023 Leisure 4,7% 10.4% 6.8% Retail 6.1% 34,3% 4.0% Offi
Slide 6: Main focus of the Fund
Main focus of the Fund The Fund is actively introducing new concepts to the market to meet clients’ needs Completion of the first Meraki office building Several anchor tenant negotiations ongoing in EuropaSC The Fund completed the first stage in the construction of the modern B-c lass office At the
Slide 7: Portfolio performance
Portfolio performance As of 31 March 2023 Direct Net initial Fair value1 NLA Property name Sector property yield yield Occupancy rate (EUR ‘000) (sq. m) Q1 2023 2 Q1 2023 3 Vilnius, Lithuania Duetto I Office 18,845 8,587 8.4% 6.7% 97.6% Duetto II Office 20,253 8,674 7.6% 6.9% 100.0% Europa SC Retail
Slide 8: NOI development
NOI development As of 31 March 2023 Property Date of acquisition 2018 2019 2020 2021 2022 Q1 2022 Q1 2023 Postimaja & CC Plaza complex 8 March 2013 1 2,447 2,495 1,932 1,805 2,044 450 522 Upmalas Biroji BC 30 August 2016 1,710 1,701 1,661 1,740 1,763 454 438 North Star 11 October 2019 - 315 1,419 1,
Slide 9: Financial results for Q1 2023
Financial results for Q1 2023 Profit and loss 01.01.2023- 01.01.2022- Key comments: EUR ‘000 Change (%) 31.03.2023 31.03.2022 Rental income 5,274 4,959 6.4% – The Group recorded a net profit of EUR 22 thousand against EUR 1,996 thousand for Q1 Service charge income 1,442 1,304 10.6% 2022. Cost of re
Slide 10: Financial results for Q1 2023
Financial results for Q1 2023 Financial position EUR ‘000 31.03.2023 31.12.2022 Key comments: Non-current assets – At the end of Q1 2023, the Fund’s GAV was Investment properties 309,047 333,123 EUR 321.3 million (31 December 2022: EUR Intangible assets 6 6 344.0 million), 6.6% lower than at the end
Slide 11: Financial debt structure
Financial debt structure As of 31 March 2023 Carrying amount Fixed rate Property Maturity Currency % of total (EUR ‘000) portion (%) Galerija Centrs 26 January 2024 EUR 30,000 16.9% 100.0% Duetto I and II 31 March 2028 EUR 19,055 10.8% -% CC Plaza and Postimaja 12 February 2026 EUR 17,114 9.7% 100.5
Slide 12: Financing summary
Financing summary As of 31 March 2023 Summary of financing terms Maturity by separate loan (EUR ‘000) 55 000 57.3% 3.4% BH Bonds 45 000 MEUR 50 LTV Cost of debt 35 000 Galerija Duetto I and 25 000 CC Plaza and Duetto II 1.2% 1.6 years Postimaja 15 000 Upmala Biroji Northstar Annual debt Weighted deb
Slide 13: Outlook for 2023
Outlook for 2023 • Heavy focus on releasing to increase Fund’s WAULT • Continuous letting of the Meraki premises as well as new lease agreements in the reconstructed areas of the Europa SC, Galerija Centrs and Postimaja • The Fund is targeting to reduce the leverage to approx. 50 % after the refinan
Slide 14: Contact information
Contact information Management board message We declare that, to the best of our knowledge, the information provided in this document is accurate and that the document is not subject to any omissions that may serve to distort the picture of the document provided. Tarmo Karotam Baltic Horizon Fund Fu
Slide 15: Disclaimer
Disclaimer This material is provided to you for information purposes only. You should not rely upon it or use it to form the definitive basis for any decision, contract, commitment or action whatsoever. Northern Horizon Capital AS (NHC) has taken all reasonable care to ensure that the information co
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