Samhallsbyggnadsbolaget I Norden Ab Class B · OMXSTO:SBB_B
Samhallsbyggnadsbolaget I Norden Ab Class B — Q1 2025 Earnings Presentation
18 slides from Samhallsbyggnadsbolaget I Norden Ab Class B's earnings presentation, May 13, 2025
Slide 1: Q1 2025
Q1 2025 13 May 2025
Slide 2: Today's Presenters
TODAY’S PRESENTERS LEIV SYNNES DANIEL TELLBERG HELENA LINDAHL CEO Finance Director Treasury Director |2
Slide 3: Highlights for the Period
HIGHLIGHTS FOR THE PERIOD ▪ Rental income increased by 2.7% Property exposure ▪ Net operating income Increased by 4.3% ▪ Financial stability and liquidity remain as a priority SEK 92.5 bn ▪ Negative changes in property value. Value change -0.2% in the quarter Total property exposure including share
Slide 4: New Financial Targets
NEW FINANCIAL TARGETS New financial and operational targets ✓ Increase net asset value per share by minimum 12 percent per annum ✓ Net operating income in like-for-like portfolio to increase by at least CPI + 1 percent per annum ✓ Group shall achieve a rating of at least BBB- in the long term ✓ Buil
Slide 5: Strategy Execution On-Track
STRATEGY EXECUTION ON-TRACK Progress since December: Independent subsidiaries and associated companies show good progress ✓ Stable financing conditions for Nordiqus, Sveafastigheter and Public Property Invest ✓ Nordiqus raised 8.7 bn through USPP, and refinanced bank debt. Now 17 bn on a 13-year ave
Slide 6: Transparent Group Structure
TRANSPERENT GROUP STRUCTURE Community Residential Education Development Total Property exposure Total Property exposure Total Property exposure Total Property exposure 38.7 29.0 19.8 4.9 Property value Property value Property value Property value 19.3 19.6 0.5 4.8 SBB’s share of property portfolios
Slide 7: Community
COMMUNITY ▪ Leading and scalable platform ▪ Elderly care 32% of the property portfolio ▪ Sustainability at the core of the business model ▪ Government funded tenants, minimal risk of rent loss ▪ Partnership confirms the strong value of the portfolio SEK 38.7 Property exposure including bn JV and sig
Slide 8: Residential
RESIDENTIAL ▪ Residential holdings are concentrated to Sveafastigheter ▪ Sveafastigheter was listed on Nasdaq first North 2024, recieved an indicative investment grade rating from Fitch in 2025 ▪ Residential properties outside Sveafastigheter is to be divested over time ▪ Rent development for Swedis
Slide 9: Education
EDUCATION ▪ Nordiqus is SBB’s platform for educational properties, co-owned with Brookfield ▪ Nordiqus is Europe’s leading public education property platform with growth potential ▪ Government-backed income, high lease renewal rate and close to 100% CPI- linked SEK 19.8 Property exposure including b
Slide 10: Development
DEVELOPMENT ▪ Strategic and focused special part of group to create profits from development activities, converting potential into long-term value ▪ Allocated capital must generate at least a 15 percent return on equity ▪ Offering our tennants development expertise gives us competitive advantages SE
Slide 11: Development (cont.) – Selection of Projects
DEVELOPMENT (CONT.) – SELECTION OF PROJECTS Completed projects Projects under development PROJECT: FRIDHEM PROJECT: GÅRDSJÖSTRAND TYPE: ELDERLY CARE TYPE: ELDERLY CARE MUNICIPALITY: ÄNGELHOLM MUNICIPALITY: FLEN PROJECT: ALTPLATSEN PROJECT: SARVTRÄSK TYPE: RESI + ASSISTED LIVING TYPE: RESI + ASSISTED
Slide 12: Stable Yield and Occupancy
STABLE YIELD AND OCCUPANCY Yield Percent Full-year average Full-year average Full-year average Full-year average 3.9% 4.0% 4.7% 4.9% 6 5 4 4.8% 3 2 Yield 2025 Q1 1 0 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q
Slide 13: Financial Statements
FINANCIAL STATEMENTS | 13
Slide 14: Key Takeaways – Consolidated Income Statement for Q1 2025
KEY TAKEAWAYS – CONSOLIDATED INCOME STATEMENT FOR Q1 2025 SEKm Q1 2025 Q1 2024 Profit impact Like-for-like Comments Net operating income 510 736 -226 +4.3% Other property management income 49 - 49 ▪ Solid quarter Net Admin & Restructuring expenses -204 -222 18 ▪ Rental income LFL increased by 2.7% P
Slide 15: Financing
FINANCING ▪ Main focus is to reduce debt level and dependence on individual sources of financing ▪ Group shall achieve a rating of at least BBB- in the long term as expressed in new financial targets ▪ Slight decrease in Loan-to-value 60 % Loan to value Q1 2025 22 % Secured Loan to value Q1 2025 Loa
Slide 16: Attractive Long-Term Funding
ATTRACTIVE LONG-TERM FUNDING SEKm Interest Rate Maturity 20,000 15,000 32% 2.9 years 26% Average interest rate maturity Q1 2025 10,000 16% 17% 5,000 2.5 % 7% Average interest rate Q1 2025 2% 0 2025 2026 2027 2028 2029 >2029 Debt Maturity SEKm 20,000 35% 15,000 2.8 years 1.8 x Average debt maturity I
Slide 17: Liquidity Has Facilitated Nominal Debt Reduction
LIQUIDITY HAS FACILITATED NOMINAL DEBT REDUCTION Nominal Debt, FX like-for-like Methods for Continued debt reduction ▪ No additional dividend until investment grade SEKm 100,000 ▪ Mainly repay maturing debt ▪ Direct sale of real estate 80,000 77,595 72,622 ▪ Sale of 10bn of non-core assets and/or ra
Slide 18: To Summarize
TO SUMMARIZE 1 Decentralized group structure with four focused business areas 2 Operates in countries with strong credit ratings and favorable population growth Property portfolio characterized by a high occupancy rate, long lease contracts 3 and strong NOI growth Returning to financial stability wi
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