Baltic Horizon Fund · OMXTSE:NHCBHFFT
Baltic Horizon Fund — Q1 2022 Earnings Presentation
19 slides from Baltic Horizon Fund's earnings presentation, May 2022
Slide 1: Baltic Horizon Fund Webinar May 2022
Baltic Horizon Fund Webinar May 2022
Slide 2: Notable events for the Fund
Notable events for the Fund On 24 January 2022, the Fund Standard and Poor’s rating has On 16 May 2022, the Fund During Jan-May 2022, the Group opened food hall Dialogai (approx. remained unchanged. On 22 April announced invitation to the annual successfully extended its Europa 900 sq. m) in Europa
Slide 3: Baltic Horizon Fund portfolio summary
Baltic Horizon Fund portfolio summary The Fund is minimizing concentration risk by diversifying the client base, segment, and geographical allocation Net rental income by segment, Q1 2022 Rental concentration: 10 largest tenants as of 31 March 2022 Leisure 5.1% 10.2% 6.2% Retail 36.5% 5.7% EUR 4.2 m
Slide 4: Portfolio performance
Portfolio performance As of 31 March 2022 Direct property Net initial Fair value1 NLA Property name Sector yield yield Occupancy rate (EUR ‘000) (sq. m) Q1 20222 Q1 20223 Vilnius, Lithuania Duetto I Office 17,347 8,587 8.0% 6.9% 100.0% Duetto II Office 19,683 8,674 7.6% 7.1% 100.0% Europa SC Retail
Slide 5: NOI development
NOI development As of 31 March 2022 Property Date of acquisition 2017 2018 2019 2020 2021 Q1 2021 Q1 2022 Galerija Centrs 13 June 2019 - - 2,552 3,023 1,448 284 597 Upmalas Biroji BC 30 August 2016 1,693 1,710 1,701 1,661 1,740 434 454 Postimaja & CC Plaza 8 March 20131 985 2,447 2,495 1,932 1,805 3
Slide 6: Baltic Horizon Fund’s development projects
Baltic Horizon Fund’s development projects Developments in Estonia & Lithuania Planning Under construction Under construction CC Plaza and Postimaja, Tallinn Europa, Vilnius Meraki, Vilnius – The first stage of the reconstruction – Refurbishment project was initiated – The building permit allows bui
Slide 7: Financial summary
Financial summary The Fund aims to grow through making attractive investments for its investors while diversifying its risks geographically, across real estate segments, tenants, and debt providers. EUR 1.1114 EUR 1.1902 EUR 1.1082 EUR 1.1884 IFRS NAV per unit, 31.03.2022 EPRA NRV1 per unit, 31.03.2
Slide 8: Financial results for Q1 2022
Financial results for Q1 2022 Profit and loss EUR ‘000 Q1 2022 Q1 2021 Change (%) Key comments: Rental income 4,959 4,677 6.0% – The Group earned net rental income of Service charge income 1,304 1,217 7.1% EUR 4.2 million in both Q1 2022 and Q1 2021. The results for Q1 2021 still Cost of rental acti
Slide 9: Financial results for Q1 2022
Financial results for Q1 2022 Financial position EUR ‘000 31.03.2022 31.12.2021 Key comments: Investment properties 318,430 315,959 Investment property under construction 13,393 11,400 – At the end of Q1 2022, the Fund’s GAV Intangible assets 8 9 was EUR 345.6 million (31 December 2 2021: EUR 346.3
Slide 10: Financial debt structure
Financial debt structure As of 31 March 2022 Carrying amount Property Maturity % of total Fixed rate portion (EUR’000) Galerija Centrs 26 January 2024 30,000 15.1% 100.0% Europa SC 15 March 2024 17,900 9.0% 102.8% CC Plaza and Postimaja 12 February 2023 17,200 8.7% 100.0% Duetto I and II 31 March 20
Slide 11: Financing summary
Financing summary As of 31 March 2022 Summary of financing terms Maturity by separate loan (EUR ‘000) 50,000 Unsecured bonds 59.8% 2.8% LTV Cost of debt 40,000 30,000 Galerija Centrs CC Plaza and Postimaja 0.3% 1.5 years 20,000 Europa Duetto Annual debt Weighted debt Upmalas Biroji amortization matu
Slide 12: Dividend payment
Dividend payment The Fund holds a total dividend reserve of EUR 6.5 million from the pandemic period GNFC and paid-out dividend, 2016-Q1 2022, TEUR 4,000 3,500 3,000 2,500 Generated net cash flow 2,000 1,500 CAPEX 1,000 500 Paid-out dividend 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 13: Retail portfolio
Retail portfolio What trends do we see over the next 3-5 years 5 Better life – more money, 2 Increase in more entertainment ‘health & wellness’ offering 4 Creation of 1 ‘instagrammable’ environment Recovery depends on citizens and tourists returning to city centres 3 More food & beverage / service /
Slide 14: Retail portfolio
Retail portfolio Europa SC new Foodhall Q1 2022 14
Slide 15: Retail portfolio
Retail portfolio Galerija Centrs new Foodhall Q4 2022 15
Slide 16: Plans for 2022-2024
Plans for 2022-2024 Galerija Centrs food hall concept o Finish of 1st stage Europa reconstruction (food hall and 1st floor upgrade) o Capital investments into Galerija Centrs food hall in 2022 o Continuation of Postimaja reconstruction project in 2022-2023 o Executing long-term and short-term ESG go
Slide 17: Contact information
Contact information Management board message Tarmo Karotam We declare that, to the best of our knowledge, the information provided in this document is accurate and that the document is not subject to any omissions that may serve to distort the picture of the document provided. +372 50 89 044 Tarmo.K
Slide 18: Disclaimer
Disclaimer This material is provided to you for information purposes only. You should not rely upon it or use it to form the definitive basis for any decision, contract, commitment or action whatsoever. Northern Horizon Capital AS (NHC) has taken all reasonable care to ensure that the information co
Slide 19: Northern Horizon
N KA NORTHERN HORIZON