Wallenstam Ab Class B · OMXSTO:WALL_B
Wallenstam Ab Class B — Q4 2024 Earnings Presentation
23 slides from Wallenstam Ab Class B's earnings presentation, Feb 6, 2025
Slide 1: Fourth quarter 2024
Fourth quarter 2024 Wallenstam
Slide 2: Summary 2024
Summary 2024 Completed new construction: Investment in 354 apts construction: SEK 2.1 billion New New construction commercial starts: agreements: 577 apts 25,000 sq m
Slide 3: Events during quarter 4
Events during quarter 4 • Signed agreement regarding acquisition of the Sergel’s scraper in Stockholm • Signed agreement regarding sale of four commercial properties in Gothenburg • Hedged interest rate using interest rate derivatives • Repurchase of 1,200,000 shares during the period
Slide 4: Wallenstam today
Wallenstam today Stockholm Rental value Residential 51% & Uppsala 210 properties 35% Office 27% Gothenburg 1.4 million sq m 65% Retail 7% Education/care 4% SEK 66 billion in property value Restaurant 4% Garage 2% 96% in occupancy rate Industry/warehouse 3% Cinema 1% 1,304 apartments under constructi
Slide 5: Wallenstam's climate goals extend to 2030
Wallenstam's climate goals extend to 2030 -50% SCOPE 1 -50% SCOPE 2 -55% SCOPE 3 Direct emissions Indirect emissions Other indirect emissions Combustion of fuel and Purchased energy Purchasing of refrigerant leakage construction materials Outcome 2024: –31% Outcome 2024: –40% Outcome 2024: –31%
Slide 6: Kaserntorget 6 – Lower carbon footprint through reuse
Kaserntorget 6 – Lower carbon footprint through reuse C02 emissions, % 100 80 60 40 -70% 20 0 Traditional premises Reuse project adaptation Kaserntorget 6 Waste, % 100 80 60 40 20 -90% 0 Average reconstruction Reuse project project Kaserntorget 6
Slide 7: EU Taxonomy
EU Taxonomy Share 2024 SEK million Taxonomy-aligned, % Turnover 1,466 (1,255) 46 (38) CapEx 1,187 (1,263) 54 (52) OpEx 111 (95) 34 (25) Information in paranthesis refers to outcomes in 2023.
Slide 8: Net operating income, properties
Net operating income, properties SEK million 2024 2023 2024 2023 Jan-Dec Jan-Dec Oct-Dec Oct-Dec Rental income 2,922 2,730 736 694 Operating expenses investment properties -701 -730 -200 -212 Net operating income, properties 2,222 1,999 536 482 Surplus ratio: 76.0%
Slide 9: Net operating income change, +11%
Net operating income change, +11% Rental income +193 MSEK New construction Total Acquisitions/sales Comparable holdings & large projects rental income +99 -13 +107 MSEK MSEK MSEK Net operating income +223 MSEK Operating expenses New construction Acquisitions Property maintenance, Total operating Wea
Slide 10: Nacka Grace, Nacka
COMPLETED DURING Q4 Nacka Grace, Nacka • 103 apartments completed and let, of which 75 in Q4 • 66 apartments still under production
Slide 11: New commercial leases totaling approx. 25,000 sq m
New commercial leases totaling approx. 25,000 sq m
Slide 12: Kv Victoria – Vibrant neighborhood, fully let
Kv Victoria – Vibrant neighborhood, fully let
Slide 13: Income from property management
Income from property management SEK million 2024 2023 2024 2023 Jan-Dec Jan-Dec Oct-Dec Oct-Dec Rental income 2,922 2,730 736 694 Operating expenses investment properties -701 -730 -200 -212 Net operating income, properties 2,222 1,999 536 482 Management costs and administrative expenses -314 -293 -
Slide 14: Average fixed interest rate term, 52 months
Average fixed interest rate term, 52 months SEK million 2,500 New swap agreements of 2,000 SEK 4.6 billion Interest during the coverage ratio: quarter. 1.9 times 1,500 72 % of the loan volume has fixed 1,000 interest. 500 0 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Maturity interes
Slide 15: Profit/loss before changes in value and impairment losses
Profit/loss before changes in value and impairment losses SEK million 2024 2023 2024 2023 Jan-Dec Jan-Dec Oct-Dec Oct-Dec Total revenue 3,172 3,351 806 1,086 Operating expenses investment properties -701 -730 -200 -212 Central management and administration -332 -352 -95 -115 Participation in profits
Slide 16: Profit/loss after tax
Profit/loss after tax SEK million 2024 2023 2024 2023 Jan-Dec Jan-Dec Oct-Dec Oct-Dec Profit/loss before changes in value and impairment 742 1,129 66 261 losses Change in value, investment properties 388 -787 431 7 Change in value, financial instruments 102 -916 443 -904 Change in value, synthetic o
Slide 17: Balance sheet – Assets
Balance sheet – Assets Assets, 24-12-31 23-12-31 SEK million Investment properties 65,588 63,090 INVESTMENT PROPERTIES, SEK MILLION Development properties 64 77 Investment properties in operation 60,610 Wind turbines 831 985 Projects in progress, rental apartments 2,905 Cash and cash equivalents 46
Slide 18: The value of the properties
The value of the properties Distribution Property value CHANGE DURING THE YEAR, INVESTMENT PROPERTIES SEK million Investment properties, Jan 1, 2024 63,090 Residential properties, 57% Acquisitions 143 Construction 2,112 Commercial Sales -148 properties, 43% Unrealized change in value 392 Investment
Slide 19: Investments in construction
Investments in construction SEK million 4, 000 3, 500 3, 000 2, 500 SEK 2, 000 2.1 billion 1,500 1,000 500 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Slide 20: 1,304 apartments in ongoing new construction
Occupation started 2024 Nacka Grace 66 apts. Nacka Occupation starts 2025 Kallebäcks Terrasser Occupation starts 2025 Occupation starts 2026 Kvarter 6 298 apts. Gothenburg Älta Torg Årstaberg Kvarter 1 408 apts. 191 apts. Stockholm Nacka Occupation starts 2027 Åbybergsgatan Älta Torg Ädellövet Kvart
Slide 21: Balance sheet – Liabilities and equity
Balance sheet – Liabilities and equity Liabilities and equity, 24-12-31 23-12-31 SEK million Equity/assets ratio: Equity 30,844 30,500 45% Interest-bearing liabilities 30,399 29,075 Loan-to-value Financial derivative instruments 21 18 ratio: 46% Lease liability 633 544 Other 7,025 6,704 Net asset va
Slide 22: Questions?
Questions? Susann Linde, CFO & Head of Investor Relations susann.linde@wallenstam.se
Slide 23: Slide 23