Bewi Invest Asa · OSL:BINT
Bewi Invest Asa — KMC Properties — Swedbank real estate seminar (August 2022)
16 slides from Bewi Invest Asa's conference presentation, Aug 23, 2022
Slide 1: KMC Properties ASA Company presentation
KMC Properties ASA Company presentation 23 August 2022
Slide 2: The preferred partner for logistics and industrial properties
The preferred partner for logistics and industrial properties
Slide 3: Todays' presenter
Todays’ presenter [Photo] Kristoffer Holmen CFO 3
Slide 4: Disclaimer
Disclaimer This presentation, prepared by KMC Properties ASA (the "Company"), may contain statements about future events and expectations that are forward-looking statements. Any statement in this presentation that is not a statement of historical fact including, without limitation, those regarding
Slide 5: KMC Properties at a glance
KMC Properties at a glance 5
Slide 6: KMC Properties at a glance
KMC Properties at a glance Company description Key KPIs As per Q2-2022 ▪ Portfolio of 46 properties focused on industrial and logistics with long-term leases, solid tenants and strategic locations critical for tenant operations 46 ▪ Ambitious strategy to grow the portfolio, both through capex initia
Slide 7: Solid customer base of market leading companies with long track records
Solid customer base of market leading companies with long track records and exposure to an attractive industry Company overview Key customers / brands % of net operating income1 ▪ Listed at the Oslo Børs, majority-owned by the Bekken family, the founder of the company in 1980 ▪ Annual revenues of EU
Slide 8: KMC Properties at a glance: accretive growth and strong growth ambitions
KMC Properties at a glance We are KMC Properties … we deliver accretive growth 2 …and have strong growth ambitions 2 NOKm NOKm 6 000 1 365 9 000 Committed investments 8 000 5 500 Completed and Completed Net yield Portfolio value 5 000 committed M&A 8 000 Additional growth CapEx NOK ~4.1bn 1 4 500 48
Slide 9: New platform set for accelerated value creation
New platform set for accelerated value creation Significantly larger base to grow from Maintaining portfolio gross yield Key KPIs Gross asset value development (NOKm) Gross yield development (%) 76 Properties 7 434 6,6% 6,7% 6,6% 5 434 701k 4 129 GLA (sqm) NOK 476m Run rate NOI KMCP After regular Af
Slide 10: Current financing
10 r Current financing
Slide 11: Current financing mix heavily tilted towards bond financing
Current financing mix heavily tilted towards bond financing Capitalization table Sources of funds Construction loan Weighted avg current Source of financing NOKm interest1 Weighted avg interest margin Bank loan 1% 21% Bond loan 1,850 5.93% 4.25% NOK 2,374m Bank loan 495 4.17% 2.49% 78% Bond loan Mat
Slide 12: Financing pipeline
12 r Financing pipeline
Slide 13: Current pipeline solely financed by bank
Current pipeline solely financed by bank Yield LTV WAULT Asset value Undisclosed financing Bank financing Capex Greenfield Acquisitions Acquisition Pipeline Accumulated 7.5% 7.5% 7.5% 6.8% 7.7% 7.5% 7.9% 6.3% 6.5% 6.7% 60% 60% 60% 65% 65% 55% 60% 55% 60% 58% 11 yrs 15 yrs 15 yrs 20 yrs 6.5 yrs 15 yr
Slide 14: Financing going forward
14 r Financing going forward
Slide 15: Bond market significantly more volatile – hence bank financing
Bond market significantly more volatile – hence bank financing represent desired predictability going forward KMC01 trading vs bank margins Future considerations: bps KMC01 Avg bank margins1 ▪ Predictability 700 ▪ LTV vs Interest margin 650 ▪ Amortization vs Bullet 600 550 ▪ Secured vs Unsecured 500
Slide 16: Thank you
Thank you 16
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