Pandox Ab Class B · OMXSTO:PNDX_B
Pandox Ab Class B — Shareholder Meeting (April 2023)
15 slides from Pandox Ab Class B's shareholder meeting presentation, Apr 12, 2023
Slide 1: Strong cash flow and reinstated dividend
AGM 2023 presentation Strong cash flow and reinstated dividend Liia Nõu, CEO 12 April 2023
Slide 2: A well-diversified portfolio
Strategic position A well-diversified portfolio Pandox Property Operator Group Management Activities 157* 137 20 Hotel properties Leased properties Operated properties 35,490 29,717 5,773 Rooms Rooms Rooms SEK 69.2 bn 83% 17% Property market value Property market value Property market value *158 aft
Slide 3: A strong network of partners and brands
Strategic position A strong network of partners and brands Pandox cooperates with more than 30 business partners and brands AGM 2023 12 April 2023 3
Slide 4: Demand is mostly domestic and regional
Strategic position Demand is mostly domestic and regional Number of rooms per demand type 17% 42% 41% Regional Domestic International AGM 2023 12 April 2023 4
Slide 5: The Hotel Brussels
International The Hotel Brussels 421 rooms Operator Activities AGM 2023 12 April 2023 5
Slide 6: The Midland Manchester
Regional The Midland Manchester 312 rooms Property Management AGM 2023 Photo: Stefan Zander, PhotoWeb USA 12 April 2023 6
Slide 7: Scandic Luleå
Domestic Scandic Luleå 276 rooms Property Management AGM 2023 12 April 2023 7
Slide 8: A year of historic recovery in the hotel market
Main events 2022 A year of historic recovery in the hotel market Weak start, but when restrictions disappeared the hotel market normalized quickly Strong cash earnings and positive changes in value High business tempo with investments in existing portfolio, acquisitions and divestments Lease renewal
Slide 9: Strong growth for Pandox
The year in brief Strong growth for Pandox +18% +58% +30% 46.7% Return on equity 1) LFL growth in NOI LFL growth in NOI Loan-to-value, net total 2) Property management 3) R12M Jan-Dec 2022 Jan-Dec 2022 Per 31 December 2022 1) Measured as growth in EPRA NRV, including dividend and excluding proceeds
Slide 10: RevPAR has recovered (seasonality is back)
Pandox Property Management RevPAR RevPAR has recovered (seasonality is back) SEK 1000 900 800 700 600 500 400 300 200 100 Restrictions Opening Open 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2019 2022 AGM 2023 12 April 2023 10
Slide 11: Recovery in property values after Covid-19
Property portfolio Recovery in property values after Covid-19 0% Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 -1% -2% -2% -2% -2% -3% -3% -3% -3% -4% Accumulated changes in value measured from -4% -4% start of pandemic -5% -5% -5% -5% -5% -6% AGM 20
Slide 12: Well-proven financing strategy
Financial position Well-proven financing strategy Well-proven financing strategy built on long-term Capital structure, per 31 December 2022 relationships with banks and shareholders Equity and mortgage-backed bank loans are Pandox’s sources of financing Net debt, MSEK 32,334 No market financing in t
Slide 13: Complex and ambitious
Sustainability Complex and ambitious Achievements 2022 Responsible Guest Environment and fair satisfaction ― 100% of properties assessed for climate risk and climate business and security ― Commitment to Science Based Targets ― Continued progress vs. all targets Attractive Inclusive and equal local
Slide 14: Pandox's business model has passed the test
Lessons from the pandemic Pandox’s business model has passed the test Exposure mainly towards domestic and regional demand= the backbone of the hotel market Positive cash earnings every quarter thanks to minimum and fixed rent Bank financing only and lower LTV than before the pandemic Strong and hig
Slide 15: Q&A
Q&A AGM 2023 12 April 2023 15