Baltic Horizon Fund · OMXTSE:NHCBHFFT
Baltic Horizon Fund — Q4 2016 Earnings Presentation
11 slides from Baltic Horizon Fund's earnings presentation, Feb 27, 2017
Slide 1: Baltic Horizon Q4 Investor Update
BALTIC HORIZON Q4 INVESTOR UPDATE 27 February 2017
Slide 2: Agenda
AGENDA 1. Review of the SPO in December 2016 2. Fund overview – portfolio 3. Financial unaudited results for Q4 2016 2
Slide 3: BH Listed on 23 December 2016 on Nasdaq Stockholm
BH LISTED ON 23 DECEMBER 2016 ON NASDAQ STOCKHOLM SPO offering Offering period: 8-30 November • Issuing agents: DnB (SE) → Retail in Estonia, Sweden, Finland, Denmark; institutional Estonia, Sweden Swedbank (EE) Net result 19,6 mEUR (20,5 mEUR – 0,9 mEUR fees), minimal institutional demand due t
Slide 4: New Acquisition – Pirita SC in Tallinn
NEW ACQUISITION – PIRITA SC IN TALLINN
Slide 5: Total Value of EUR 142 Million
TOTAL VALUE OF EUR 142 MILLION Details of existing property portfolio, 31 December 2016 Coca-Cola Domus Upmalas Property Lincona Sky Europa SC G4S HQ Piirita Total Plaza Pro Biroji City Tallinn Tallinn CBD Riga Vilnius Vilnius CBD Tallinn Riga Tallinn Type Office Cinema Retail Retail Retail Office O
Slide 6: Portfolio Overview at 31/12/2016
PORTFOLIO OVERVIEW AT 31/12/2016 Well balanced 8(+1) properties in capital cities Country distribution portfolio geography — 3 (+1) office properties — 4 retail properties and segment wise — 1 leisure/retail property 39% Estonia 41% Latvia Portfolio yield ~7,2% Lithuania Best risk/return Portf
Slide 7: Interim Financial Results (Q4 2016) – Financial Performance
INTERIM FINANCIAL RESULTS (Q4 2016) FINANCIAL PERFORMANCE Euro ‘000 Q4 2016 Q3 2016 Change (%) • NOI increased by Rental income 2,540 2,058 23.4% 19.8%, mainly due to Expenses reimbursement revenue 784 617 27.1% new properties Cost of rental activities (1,014) (747) 35.7% Net rental income 2,310 1,9
Slide 8: Interim Financial Results (Q4 2016) – Financial Position
INTERIM FINANCIAL RESULTS (Q4 2016) FINANCIAL POSITION • IFRS NAV per unit EUR 1.3414 (-1.5% ’000 Euro 31.12.2016 31.12.2015 Change (%) Assets since September 2016). Decrease is Investment properties 141,740 86,810 63.3% mainly due to payout distributed in Q4 Investment property under construction 1
Slide 9: Equity Research - Updates
EQUITY RESEARCH - UPDATES Maintaining the „Buy“ Swedbank’s Equity Research papers issued on 31st January 2017: “Establishing recommendation a larger footprint” and 21st February 2017: “Investments bear fruit” from Swedbank Swedbank’s key messages to investors regarding BH: → Capital from the SPO
Slide 10: Liquidity on the Stock Market
LIQUIDITY ON THE STOCK MARKET Swedbank’s Turnover, Jan 2017, EURk analysis of listed Primary Secondary securities in all Company listing listing Total Baltic exchanges 1 Olympic Entertainment Group 4,166 2 4,168 2 Tallinna Vesi 2,055 2,055 3 TEO LT 1,683 1,683 4 Šiaulių bankas 1,652 1,652 5 Tallink
Slide 11: Disclaimer
DISCLAIMER This material is provided to you for information purposes only. Before investing in any product managed by Northern Horizon Capital (NHC) or associated companies, you should inform yourself about legal and tax consequences, foreign exchange restrictions or exchange control requirements th