Eastnine Ab · OMXSTO:EAST
Eastnine Ab — H1 2025 Earnings Presentation
28 slides from Eastnine Ab's earnings presentation, June 2025
Slide 1: Interim report January–June 2025
Eastnine AB Interim report January–June 2025
Slide 2: Building a leading prime office real estate company in the fastest growing part of Europe
Building a leading prime office real estate company in the fastest growing part of Europe Direct yield prime offices1 Surplus ratio2 6.2 % 93.5 % Stockholm (HQ) Riga Occupancy rate3 Growth in the property portfolio2 Vilnius 97.1 % +47 % Poznan Warsaw Note 1 Earnings capacity, 2 Last 12 months. 3 202
Slide 3: Highlights for the quarter and period
Highlights for the quarter and period Quarter April-June Period January-June • Rental income • Rental income → EUR 15.2m +62 % → EUR 30.8m +67 % → Comparable portfolio +5.1 % → Comparable portfolio +4.8 % • Profit from property management • Profit from property management → Total: EUR 7.9m +54 % → T
Slide 4: Markets
Markets eastnine ©
Slide 5: Increased focus on Poland
Increased focus on Poland Dagens industri = star sées uancuswvr sevaxwincan LeDaRe ITV Fastnine: Sétter Rysslandspengarn | olsk arhete Polen ar snart nasta europeiska stormakt Polen ar just nu landet som gor allting ratt. Nar actu eeedes wot ala odds Kowa ue tuseat “allan feka. Kepttalsom-nuinvester
Slide 6: June 2009
June 2009 6
Slide 7: Aug 2024
Aug 2024 7
Slide 8: GDP – Poland vs Sweden
GDP – Poland vs Sweden Poland’s growth has accelerated during the last 10 years GDP, Current Prices GDP per capita, Current Prices (index 2015 = 100) EURm EUR 1 000 000 250 2018 900 000 +704% +108% 800 000 200 700 000 600 000 +181% 150 500 000 +18% 400 000 100 300 000 200 000 50 100 000 0 0 2015 201
Slide 9: Property portfolio, tenants and sustainability
Property portfolio, tenants and sustainability
Slide 10: Our latest acquisitions are in Poland
Our latest acquisitions are in Poland Warsaw Unit, November 2024 Nowy Rynek E, June 2024 Nowy Rynek D, May 2022 10
Slide 11: Portfolio overview (1/2)
Portfolio overview (1/2) Growing diversification – 16 standing prime office assets, whereof 1 project property(1) 120,900 sq.m. 22,500 sq.m. 128,200 sq.m. Uptown Park 3Bures-1,2 3Bures-3 3Bures-4 Alojas Biroji The Pine Nowy Rynek D 12,700 sq.m. 28,200 sq.m. 13,400 sq.m. Planned extension project 10,
Slide 12: Portfolio overview (2/2)
Portfolio overview (2/2) Prime office portfolio with 16 assets and 271,600 sq.m. of lettable area Key figures Property value per type of property Property value per city Q2 2025 Retail, services and other EUR 955m 16 4% Riga 7% Property value Properties Warsaw 31% 271,600 sq.m. EUR 3,500 Lettable ar
Slide 13: Rents and tenants
Rents and tenants Strong and diversified multi-national tenant base Tenants per industry Tenants % of total annual rent 3.7 yrs 1 11 WAULT 10 2 Other ICT 3 8 30% 21% 4 5 5 3 6 3 221 EUR/sq.m/year 7 3 (SEK 2 464) 8 2 Average rent 9 2 10 2 Public sector 11 2 2% 12 2 13 1 Medical & Health Finance +200
Slide 14: Sustainability – ambition to be a leader
Sustainability – ambition to be a leader Sustainability certified portfolio Green leases Reduced energy use 100 % 45 % kWh/sq.m. 70 60 Green financing Taxonomy alignment -1.3%* 50 89 % 82 % 40 -0.5%* 30 GRESB, no. of stars GRESB, points 20 92 of 100 10 0 Total energy use Property energy, excl. tenan
Slide 15: 6.2 % yield
6.2 % yield Current earnings capacity; based on the property portfolio (latest available information as at end of June 2025) 8,0% 6.2% 6,0% 4,0% 2,0% 0,0% Light industrial Residential Community Daily / Logistics Community Service Daily goods Office (>70%) Office <60% Logistics / Industrial Residenti
Slide 16: Financial overview
Financial overview eastnine ©
Slide 17: Income statement April–June 2025
Income statement April–June 2025 Apr-Jun Apr-Jun • Rental income and NOI increased mainly Quarter, EURk 2025 2024 Change, % due to last year’s acquisitions in Poland. Rental income 15,156 9,345 +62 • Income in a comparable portfolio Property expenses -970 -667 +45 increased by 5.1 %, mainly related
Slide 18: Income statement January–June 2025
Income statement January–June 2025 Jan-Jun Jan-Jun • Rental income and NOI increased mainly Period, EURk 2025 2024 Change, % due to last year’s acquisitions in Poland. Rental income 30,763 18,409 +67 • Income in a comparable portfolio Property expenses -1,921 -1,372 +40 increased by 4.8 %, related t
Slide 19: Earnings capacity
Earnings capacity • 3 months comparison Change vs EC Change vs EC EURk 2025-06-30 2025-03-31, % 2024-06-30, % Compared to the Earnings capacity Rental income 62,479 +1 +47 by the end of March, profit from property management increased Property expenses -3,518 +9 +31 by 2 %, mainly due higher rental
Slide 20: Earnings capacity - key ratios
Earnings capacity - key ratios • Compared to the EC by the end of March 2025 and end of June 2024, Change vs Change vs profit from property management/ Key ratios 2025-06-30 2025-03-31 2024-06-30 share increased by EUR 0.01 Profit from property 0.34 +0.01 +0.08 (higher income, lower interest managem
Slide 21: Healthy leverage level and diversified debt portfolio
Healthy leverage level and diversified debt portfolio Interest rate level continues to decrease Key figures Apr-Jun 2025/ Debt sources 2025-06-30 EURm Debt and interest maturities 2025-06-30 250 238 LTV 48 % 216 LHV OP Luminor 2% Berlin 200 1% Liquidity (EUR) 36m 4% Hyp Swedbank 22% Interest rate le
Slide 22: Properties – value and valuations
Properties – value and valuations 2020-Q2 2025, quarterly figures Property value Unrealised changes in value % Yield requirement valuations EURm EURm 7,0 1 200 25 20 1 000 15 6,5 800 10 5 6,0 600 0 400 -5 5,5 -10 200 -15 0 -20 5,0 Q2 2025: EUR 955m, +47 % (1 yr) Q2 2025: EUR 0m, 0 % Q2 2025: 6.6 %,
Slide 23: Eastnine's share as an investment
Eastnine’s share as an investment
Slide 24: Increased interest in the share
Increased interest in the share Total turnover increased by 160 per cent Share price No.of shares Share turnover SEK 9.2m 7.6m 1.8m 60 1 000 000 55 800 000 50 600 000 45 400 000 40 200 000 35 0 Eastnine (adjusted for dividend) OMX Stockholm Real Estate GI Volume Trend 24
Slide 25: Ownership structure
Ownership structure Top 20 summary 2025-05-31 # Owner EASTNINE shares % Jurisdiction Type 1 Peter Elam Håkansson 25,511,064 26.0 Private/Other Shareholding 2 Bonnier Fastigheter Invest AB 15,553,048 15.8 Investment company Other 3 Arbona AB (publ) 9,015,088 9.2 Investment company 4 Private/Other 19%
Slide 26: Proven growth and strategy execution
Proven growth and strategy execution Property value Profit per share from property management EUR millions EUR/share +156% 1000 0,40 +187% +148% 900 0,35 800 0,30 700 600 0,25 500 0,20 400 0,15 300 0,10 200 100 0,05 0 0,00 2020 2021 2022 2023 2024 2025 Q1 2025 Q2 2020 2021 2022 2023 2024 Rolling Ear
Slide 27: Eastnine as a long-term investment
Eastnine as a long-term investment Overall goal to create a sustainable, attractive total return on shareholders' investment Total return index (31 Dec 2014 = 100) 600 571 Eastnine (SEK) 500 489 Eastnine (EUR) 400 300 276 255 200 205 130 100 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2
Slide 28: Time for questions! Have a nice summer!
Eastnine AB Time for questions! Have a nice summer!