Slide 1: Q1 2022 presentation
Q1 2022 presentation 6 19 May 2022
Slide 2: Continued improvement of activity in Agora Bytom, several segments back to pre-pandemic levels
Continued improvement of activity in Agora Bytom, several segments back to pre-pandemic levels Latest trends and developments Revenue development (NOKm) ▪ The Covid-19 situation in Poland has improved after around 2 years of Growth: -25 % 63 % 90 % -36 % 30 % significant impact ▪ In February 2022, t
Slide 3: Retail sales and footfall have impressively improved
Retail sales and footfall have impressively improved Latest trends and developments Retail sales (turnover ‘17-’22) ▪ Due to the closed periods in the first quarter, turnover and number of 25 000 000 visitors at Agora Bytom were in 2021 20 000 000 - The closures implied that tenants who sold groceri
Slide 4: Diversified tenant base and decreased risk related to renewals
Diversified tenant base and decreased risk related to renewals Comments Highly diversified tenant base ▪ Wault by income = 3.62 years Lettable area per tenant 100.0% ▪ Wault by area = 3.57 years 58.7% 100 2.5% 2.4% 2.7% ▪ Due date for top ten tenants are 4.2% 3.0% 4.4% spread, first due date in 2024
Slide 5: Industry segment continues with high activity
Industry segment continues with high activity Recent trends and developments Revenue development (NOKm) ▪ In Q1 2022, the refractory segment had a turnover of NOK 178.6m against Growth: -4 % 6% 7% 2% 3% NOK 172.6m in Q1 2021, an increase of 3.4% - EBITDA for Q1 2022 improved by NOK 9.8m compared to
Slide 6: Quarterly revenue and EBITDA development for the Group
Quarterly revenue and EBITDA development for the Group Revenue, EBITDA and EBITDA-margin (NOKm) Revenue EBITDA EBITDA% % 320 40% 291 280 267 261 261 252 240 233 236 30% 210 212 210 218 203 203 200 190 188 184 194 178 185 167 171 172 171 18% 20% 160 155 142 13% 11% 12% 12% 120 9% 8% 9% 8% 8% 8% 10% 6
Slide 7: Key P&L items
Key P&L items Income statement 2022 2021 (NOK 1,000) 01.01- 31.03 01.01- 31.03 Revenue 193,898 183,796 COGS (76,448) (81,850) Personnel (62,571) (63,321) Other OPEX (52,264) (50,517) EBITDA 2,615 (11,892) D&A (7,347) (9,163) EBIT (4,732) (21,055) Net finance (14,830) (16,095) Pre-tax income (19,562)
Slide 8: Key balance sheet items
Key balance sheet items Balance sheet 2022 2021 2022 2021 (NOK 1,000) 31.03 31.12 (NOK 1,000) 31.03 31.12 Equity 489,965 339,297 Intangible assets 112,827 119,621 Provisions / reserve for liabilities 6,001 5,508 Buildings 26,401 50,232 Secured debt 401,449 417,967 Investment properties 780,692 805,6
Slide 9: Cash flow statement
Cash flow statement Cash flow 2022 2021 (NOK 1,000) 01.01-31.03 01.01-31.03 Cash flow from operating activities before balance changes (13,588) (23,038) +/- Balance changes (19,885) 26,944 Cash flow from operating activities (33,473) 3,906 Payments to other investments (2,580) (5,382) Inflows from o
Slide 10: Continued improvement of activity in Agora, high activity within the industry segment and a significantly strengthened balance sheet
Continued improvement of activity in Agora, high activity within the industry segment and a significantly strengthened balance sheet After around two years of significant impact from the Covid-19 pandemic, Borgestad is back to almost normal operations Strengthened equity and liquidity, significantly
Slide 11: Gunnar Knudsensveg 144 3712 Skien Norway
Gunnar Knudsensveg 144 +47 35 54 24 00 3712 Skien post@borgestad.no Norway borgestad.no 11