Stendoerren Fastigheter Ab Class B · OMXSTO:STEF_B
Stendoerren Fastigheter Ab Class B — Stendörren Fastigheter — Q3 2021 Earnings Presentation
23 slides from Stendoerren Fastigheter Ab Class B's earnings presentation, 2021
Slide 1: Third Quarter 2021
=— THIRD QUARTER 2021 _.STENDORREN
Slide 2: Introduction
INTRODUCTION BUSINESS IDEA, MARKET OPPORTUNITY AND FINANCIAL OBJECTIVES BUSINESS IDEA Stendérren creates profitable growth in net asset value by actively managing, developing and acquiring properties. Focus on logistics, warehouse and light industrial properties, primarily within Stockholm region an
Slide 3: Snapshot of Stendörren
SNAPSHOT OF STENDORREN PROPERTY VALUE! RENTAL VALUE? NOI YIELD? LTv4 LETTABLE AREA! NAV® LEASE DURATION® BUILDING RIGHTS' sQ.M. SEK 3.6 years 768,000 4,419 million 1) Property portfolio as per September 30, 2021 2) Estimated earnings capacity as of September 30, 2021 3) Excluding projects and land,
Slide 4: Snapshot of Stendörren - Continued
SNAPSHOT OF STENDORREN - CONTINUED BUSINESS IDEA STRONG FOUNDATION /CASH FLOW SIGNIFICANT DEVELOPMENT PORTFOLIO CLEAR SUSTAINABILITY STRATEGY GEW wvestor Presentation Stendérren creates profitable growth in net asset value by actively managing, developing and acquiring properties. Our focus is on lo
Slide 5: Stendörren History in Short
STENDORREN HISTORY IN SHORT The company hires the new CEO Erik Ranieand a new management team is New hybrid bond issue of derapnienea SEK 800m Share listed at Nasdaq Stockholm Mid cap EQT new main shareholder Tap issue of SEK 350m in 2015 3 year bond issue January of SEK 360m was New bond issue of S
Slide 6: Good Reasons to Own a Stendörren Share
4 GOOD REASONS TO OWN A STENDORREN SHARE STABLE CASH FLOW 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 Malardalen region + The ten
Slide 7: 1. Stable Cash Flow
1. STABLE CASH FLOW DIVERSIFICATION WITH FOCUS ON GREATER STOCKHOLM PROPERTY PORTFOLIO OVERVIEW * Stendérren has a property portfolio of SEK 10,803m, with a property yield of 5.8%! as per 30 September 2021. * Rental value? of SEK 667m with an economic occupancy rate of 88% as per 30 September 2021.
Slide 8: 1. Stable Cash Flow - Continued
1. STABLE CASH FLOW - CONTINUED DIVERSIFIED TENANT BASE LARGEST TENANTS AS PER @Q3 2021 LEASE MATURITY BY RENTAL INCOME Rental Rental area, Share of income, total rental SEKm income th. sq.m. Coop Logistics AB 65 129 N% Alfa Laval Tumba AB 13 20 2% Atta.45 Tryckeri AB 12 v 2% Unilever Europe BV 10 1
Slide 9: 2. Sustainable Growth
Sources: SCB, Swedish Trade Federation, PostNord/HUI, CBRE
Slide 10: 2. Sustainable Growth - Continued
ERB investor Presentation 2. SUSTAINABLE GROWTH - CONTINUED STRONG GROWTH PROSPECTS FUTURE * Continued expansion in greater Stockholm and Malardalen. + Furthermore, new markets are continuously being evaluated, with the most recent acquisitions being two modern warehouse assets in the logistics clus
Slide 11: 3. Value Growth in Projects
3. VALUE GROWTH IN PROJECTS PROJECT PORTFOLIO WITH LARGE POTENTIAL + Fully developed an Sédertalje 63 900 2022-2026 additional 621,000 sqm can Botkyrka 59000 2023-2024 be created, evidencing a Upplands-Bro 7400 2022-2023 substantial increase to the Upplands-Bro Light industrial 2500 2022-2023 curren
Slide 12: 3. Value Growth in Projects - Continued
3. VALUE GROWTH IN PROJECTS - CONTINUED ONGOING AND FINALIZED PROJECTS ONGOING PROJECTS Almnas 5:23. New logistics 42022 11200 166 Preparatory construction works*** Hiulsmeden 1 Q4 2022 42 Design and planning** Libroback 21:3 Q4 2022 36 Design and planning™* Viby 19:66 Q4 2022 100 Preparatory constr
Slide 13: 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
Slide 14: Sustainability
SUSTAINABILITY CLIMATE IMPACT KG CO2/SQ.M ENERGY INTENSITY KWH/SQ.M. DISTRIBUTION OF ENERGY SOURCES 6 140 on re an Renewables mNon-renewables IMPACT BETWEEN 2017- 135 EFFICIENCY PER SQM 5 2020 (kgC02,¢/sam) BETWEEN 2017-2020 130 4 125 3 120 115 2 no 1 105 ° 100 2017 2018 2019 2020 2017 2018 2019 202
Slide 15: 4. Finance
Slide 16: Months to September 2021
12 MONTHS TO SEPTEMBER 2021 KEY METRICS PROPERTY VALUE: 10 803 MSEK NET OPERATING INCOME: 46 % 482 MSEK LETTABLE AREA: 768 000 M? —— 44% RENTAL INCOME: 644 MSEK NET PROFIT: 880 MSEK ABE 3 7 === = GREEN i HUB® GHB investor Presentation
Slide 17: Financial Performance
FINANCIAL PERFORMANCE ™~ ON PP FB ROE (LTM Q3 2021, AVERAGE) = ICR (LTM Q3 2021) EQUITY RATIO (Q3 2021) NAV GROWTH (LTM Q3 2021) 35% 3,50x 50% 35% 45% 30% 3,00x I | 30% 40% ' ve Il eee | (11 20% 2,00x ! 30% 20% | 25% 15% will. i 1,50x 20% 15% I Is 15% 12% 10% 1,00x 18% 10% 10% 8% 0,50x 5% 5% 0% 0,00
Slide 18: Financial Key Metrics
FINANCIAL KEY METRICS GROWING PROPERTY PORTFOLIO STABLE AND IMPROVING DEBT SERVICE CAPACITY. PROPERTY VALUE, SEKm 10 803 aco 8892 9323 9358 9 868 8 027 5752 6039 6 659 Ql Q2 Q3 Q4]Q1 G2 G3 Q4/ QI G2 G3 A4/Q1 Q2 G3 G4] QI G2 Q3) IMPROVED AND STABILISED PROFITABILITY NET OPERATING INCOME, SEKm. == NOI
Slide 19: Rental value to net income
Rental value Vacancy Other income Property Central admin Financing Value changes Taxes Net income expenses costs
Slide 20: Debt Funding
DEBT FUNDING DEPT FUNDING OVERVIEW LOAN MATURITY INTEREST FIXING SEKm SEKm 1400 a 1400 356 1161 1200 1200 1034 1050 1000 900 755 850 400 264 202 = Bank debt Sr Unsecured bond * Total interest bearing debt amounts to + Stendérren has a well distributed * Including the interest caps and swap, SEK 5,17
Slide 21: Share Value and Key Equity Ratios
SHARE VALUE AND KEY EQUITY RATIOS SEKm SEK/share KEY EQUITY RATIOS SEPTEMBER 2021 SEPTEMBER 2020 Share price, SEK 231.00 134.50 6 000 250 Equity per share, SEK” 141.76 112.41 Long term nav per share, SEK 170.20 132.16 5 000 200 DB: ook equity excluding hybrid capital per share 4000 150 3000 100 2.00
Slide 22: Share price and trading volume
300 140 000 000 120 000 000 250 100 000 000 200 80 000 000 150 60 000 000 100 40 000 000 50 20 000 000 0 0 Sep-17 Mar-18 Sep-18 Mar-19 Sep-19 Mar-20 Sep-20 Mar-21 Sep-21 • • • • •
Slide 23: Rental income, property expenses, net operating income
• • • Rental income Property Net operating expenses income
Stendörren Fastigheter — Q3 2021 Earnings Presentation on 6ix