Samhallsbyggnadsbolaget I Norden Ab Class B · OMXSTO:SBB_B
Samhallsbyggnadsbolaget I Norden Ab Class B — Q1 2019 Earnings Presentation
13 slides from Samhallsbyggnadsbolaget I Norden Ab Class B's earnings presentation, Apr 29, 2019
Slide 1: Webcast Presentation Q1 - 2019
Skeppsbron 1, Karlskrona WEBCAST PRESENTATION Q1 - 2019 April 2019
Slide 2: Quarterly Highlights
QUARTERLY HIGHLIGHTS ▪ Net profit for the quarter increased to SEK 216 million (113) despite SEK 25m non-recurring costs related to bond buy-backs and some 1 additional non-recurring costs related to transactions and energy projects. ▪ The net asset value after deductions for dividends increased str
Slide 3: Financial Performance
FINANCIAL PERFORMANCE 2019 2018 2018 Q1 Q1 Jan-Dec Rental income, SEKm 429 390 1,680 Net operating income, SEKm 240 233 1,071 Surplus ratio, % 56 60 64 Interim profit, SEKm 216 113 1,690 Yield, % 4.6 4.7 4.7 Cash flow from current operations, SEKm 97 40 248 Property value (market value), SEKm 27,201
Slide 4: Company Overview
COMPANY OVERVIEW Samhällsbyggnadsbolaget i Norden AB (SBB) in brief Property value per region: 66% in regions of big Nordic cities ▪ SBB was founded in March 2016 by Ilija Batljan who previously served as deputy CEO of Rikshem and has a long and successful background in the community Oslo services r
Slide 5: Low-risk community service and residential properties complemented by residential development potential
LOW-RISK COMMUNITY SERVICE AND RESIDENTIAL PROPERTIES COMPLEMENTED BY RESIDENTIAL DEVELOPMENT POTENTIAL Social infrastructure properties Residential properties Other / building rights development SEK 16.7bn SEK 8.5bn 7% SEK 2.0bn 62% 31% Includes schools, elderly care, LSS-housing and Mainly constit
Slide 6: Long term reliable partner for municipalities creates stable income
LONG TERM RELIABLE PARTNER FOR MUNICIPALITIES CREATES STABLE INCOME Income overview1) ▪ Long history of actively working with several History of municipalities in Sweden Classification Rental Income, SEKm % of Total acquiring from municipalities ▪ First transaction completed only 6 months after Resi
Slide 7: Underlying megatrends support continued growth
UNDERLYING MEGATRENDS SUPPORT CONTINUED GROWTH Demographic change Sustainability and energy efficiency Urbanization |7
Slide 8: Strong net operating income in Q1
STRONG NET OPERATING INCOME IN Q1 ▪ Profit after tax was SEK 216m, which adjusted for non-recurring costs relating to refinancing and the repurchase of bonds, amounted to SEK 1 241 million, a strong increase compared to the corresponding quarter of the previous year. ▪ Our strong net operating incom
Slide 9: Earnings capacity property portfolio as of 31 March 2019
EARNINGS CAPACITY PROPERTY PORTFOLIO AS OF 31 MARCH 2019 Current earnings capability for the Group for 12 months SEKm Surplus ratio: 69% 1 600 530 1 400 28 1 200 63 74 1 000 404 1 714 800 600 1 184 400 798 200 0 Rental income Property costs NOI Central Profit from JV Financial Financial Operation ad
Slide 10: Improved market access & reduced cost of funding
IMPROVED MARKET ACCESS & REDUCED COST OF FUNDING NEW ISSUE SPREADS HAVE DECREASED SIGNIFICANTLY FOR SBB 3m + STIBOR (in bps) 650 600 550 500 S&P BB rating S&P announces BB affirmed (Stable rating outlook) Fitch ratings BB+ S&P BB rating 450 (Stable outlook) affirmed (Positive (Rating Watch outlook)
Slide 11: Project development potential
PROJECT DEVELOPMENT POTENTIAL Current development portfolio (31 March 2019) Example projects Municipality Property Building right, sqm Västerhaninge (Haninge) Zoning plan process Development projects with formal planning process initiated Västerhaninge centrum, Haninge Nyköping Raspen 1,2,3 156,000
Slide 12: In Summary
IN SUMMARY 1 ▪ Sustainable and predictable cash flow remains the foundation of our activities. ▪ Experienced development and transaction teams with strong track records. 2 ▪ Strong NAV growth thanks to three value creating areas – renovations/investments in our properties, building rights and transa
Slide 13: Thank you!
THANK YOU! SBB Samhdllsbyggnadsbolaget {SBB) '
Samhällsbyggnadsbolaget i Norden AB (SBB) — Q1 2019 Earnings Presentation on 6ix