Samhallsbyggnadsbolaget I Norden Ab Class B · OMXSTO:SBB_B
Samhallsbyggnadsbolaget I Norden Ab Class B — FY2024 Earnings Presentation
21 slides from Samhallsbyggnadsbolaget I Norden Ab Class B's earnings presentation, Feb 19, 2025
Slide 1: Year-End 2024 Presentation
YEAR-END 2024 PRESENTATION 19 Februari 2025
Slide 2: Today's Presenters
TODAY’S PRESENTERS LEIV SYNNES DANIEL TELLBERG HELENA LINDAHL CEO Finance Director Treasury Director |2
Slide 3: Highlights for the Period
HIGHLIGHTS FOR THE PERIOD Rental income increased by 5.5 %, like-for-like Properties NOI increased by 7.1 %, like-for-like Financial stability and liquidity remain a priority SEK 92.8bn Reduced debt by SEK 32.7bn in the last 24 months, like-for-like Total property exposure including share of
Slide 4: Strategy Execution On-Track
STRATEGY EXECUTION ON-TRACK Progress since September: Listed Sveafastigheter in October Proceeds of 3.065 Bn Sweden’s largest listed pure-play housing company Operations focused on core business Investment grade structure New credit facilities in Sveafastigheter post IPO Profitable exi
Slide 5: Strategy Execution
STRATEGY EXECUTION Completed steps Focus on Community Educational With the court case behind us we will redirect Nordiqus established with Brookfield our focus to the core business Residential With the goal of Sveafastigheter partially divested by IPO Lower vacancies Higher rent leve
Slide 6: Strategy Execution Next Step
STRATEGY EXECUTION NEXT STEP Divide the Community into two operational entities Property Management – Cash flow Social infrastructural investment properties characterized by long and stable contracts Government and municipalities as the largest tenants. Profitable customer-oriented propert
Slide 7: Transparent Group Structure
TRANSPERENT GROUP STRUCTURE Decentralised group structure Community Residential Education Total property exposure Total property exposure Total property exposure SEK 44.5 bn SEK 39.5 bn SEK 19.9 bn Property value Property value Property value SEK 24.1 bn SEK 31.0 bn SEK 0.6 bn SBB’s share of propert
Slide 8: Community
COMMUNITY Leading and scalable platform Elderly care 26% of the property portfolio 44.4 Sustainability at the core of the business model Government-funded tenants, minimal risk of rent loss SEK bn Partnership confirms the strong value of the portfolio Property exposure including JV and sig
Slide 9: Residential
RESIDENTIAL Residential holdings are concentrated to Sveafastigheter Sveafastigheter was made independent and listed on Nasdaq 39.5 Stockholm in October 2024 to enhance funding opportunities for Sveafastigheter and to reduce debt in SBB SEK bn Beneficial market conditions Property exposure inc
Slide 10: Education
EDUCATION SBB co-owns Nordiqus with Brookfield, one of the world’s largest infrastructure investors 19.9 Nordiqus is Europe's leading public education property platform with growth potential Government-backed income, high lease renewal rate and close to SEK bn 100% CPI-linked Property exposure
Slide 11: Stabilised Yield and Stable Occupancy
STABILISED YIELD AND STABLE OCCUPANCY Yield percent 6 Full year avg. Full year avg. Full year avg. Full year avg. 4.1 % 3.9 % 4.5 % 4.9 % 5 4.9 % 4 3 Yield Q4 2024 2 1 0 Rental Occupancy Rate Full year avg. Full year avg. Full year avg. Full year avg. percent 93.9 % 95.0 % 95.6 % 92.5 % 100,0 80,0 9
Slide 12: Financial Statements
FINANCIAL STATEMENTS | 12
Slide 13: Continued Improvement of NOI
CONTINUED IMPROVEMENT OF NOI 5.5 % Rental income increase, like- NOI for the period 1 January 2024 – 31 December 2024 for-like Jan-dec 2024 7.1 % Net Operating Income increase, like- SEK 36% for-like Jan-Dec 2024 2,572m 63% Period, like-for-like Residential Community Education 1 Jan 24 – 1 Jan 23 –
Slide 14: Key Takeaways – Consolidated Income Statement for Q4 2024
KEY TAKEAWAY’S – CONSOLIDATED INCOME STATEMENT FOR Q4 2024 SEKm Q4 2024 Q4 2023 Profit impact Like-for-like Comments Net operating income 537 713 -176 +9,6% Strong NOI growth like-for-like Net Admin & Restructuring expenses -245 -345 +100 Profit before financial items, value Reorganization and l
Slide 15: Key Takeaways – Consolidated Balance Sheet for the Period
KEY TAKEAWAY’S – CONSOLIDATED BALANCE SHEET FOR THE PERIOD Comments SEKm 2024-12-31 2023-12-31 Goodwill 1,264 2,692 Reduction in investment properties mainly related to divestments to JV:s and associated companies Investment properties 55,653 73,205 Other tangible assets 694 499 Net investment in
Slide 16: Financing in New Market Conditions
FINANCING IN NEW MARKET CONDITIONS Main focus to reduce debt level and dependence on individual sources of financing Long-term ambition of returning to investment grade rating 61 % Increase in loan-to-value due to dividend payout, hybrid reduction, and Loan to value Q4 2024 property value chan
Slide 17: Attractive Long-Term Funding
ATTRACTIVE LONG-TERM FUNDING Interest Rate Maturity 3.1 SEKm 20 000 31% years Average interest maturity 15 000 Q4 2024 22% 20% 2.43 % 10 000 16% 10% 5 000 Average interest rate 2% Q4 2024 0 2025 2026 2027 2028 2029 >2029 Debt Maturity SEKm 20 000 33% 2.9 years 15 000 Average debt maturity Q4 2024 19
Slide 18: Liquidity Has Facilitated Nominal Debt Reduction
LIQUIDITY HAS FACILITATED NOMINAL DEBT REDUCTION Nominal Debt, FX like-for-like Methods for Continued debt reduction No additional dividend SEKm 100 000 Cautious property investments Limited new acquisitions 89 046 Mainly repay maturing debt 84 864 80 506 80 000 Direct sale of real estate
Slide 19: To Summarize
TO SUMMARIZE 1 Decentralized group structure with three focused business areas 2 Operates in countries with strong credit ratings and favorable population growth Property portfolio characterized by a high occupancy rate, long lease contracts 3 and strong NOI growth Returning to financial stability w
Slide 20: Q&A
Q&A | 20
Slide 21: Thank You
THANK YOU SBB SamhaUsbyggnadsbolaget | 2a
Samhällsbyggnadsbolaget i Norden AB (SBB) — FY2024 Earnings Presentation on 6ix