Sveafastigheter Ab · OMXSTO:SVEAF
Sveafastigheter Ab — Q3 2024 Earnings Presentation
22 slides from Sveafastigheter Ab's earnings presentation, Nov 27, 2024
Slide 1: Interim Report 1 January-30 September 2024
Sveafastigheter INTERIM REPORT 1 JANUARY-30 SEPTEMBER 2024
Slide 2: Today's presenters
Today’s presenters 8 a ed BY 6 C 3 = m 2 2 2 2 a a z iA =| 3 im a 3 z mn 3 = = BS 2 202 YIBW3ALd3S Of Erik Havermark Martina Lous-Christensen CEO CFO
Slide 3: 3
3
Slide 4: Our history
Our history Sveafastigheters property portfolio and organization derives from four separate companies * YaLaHOILsvsvaAS ‘Samhallsbyggnadsbolaget i Norden AB (SBB) 8,074 apartments in investment properties 3,331 apartments in development Property management organization 66% 100% 2 ofthe A of the 5 *
Slide 5: Successful listing on First North Premier Growth Market
Successful listing on First North Premier Growth Market in September - welcoming over 10,000 new shareholders.
Slide 6: Business areas
2 a a iA =| 3 im a 3 BUSINESS AREA NEW CONSTRUCTION PROJECT DEVELOPMENT ‘ONGOING ‘AND BUILDING CONSTRUCTION RIGHTS 2.0bn property 1.2bn property value value 6,680 apartments 1450 apartments 93% Stockholm- 141m estimated Malardalen rental value SELECTED TARGETS + Coming five years: - Upgrade at least
Slide 7: Our mission is to manage and develop homes
Our mission is to manage and develop homes for more people, where current and future generations can thrive and feel secure
Slide 8: Performance
. Q3 Performance SN
Slide 9: Strong growth
Strong growth FINANCIAL HIGHLIGHTS, JULY - SEPTEMBER 2024 (SEK) asad | Y3L3HOILSV4V3AS Rental income Net operating Profit from Unrealised Result from income property changes in the quarter management property values 357M 252m 85m -265m* -338M (127m invested) 2 a a iA =| 3 im a 3 3 3 = = 5 5 3 = a ea
Slide 10: Delivering on our strategy
2 a a iA a 3 im m B 3 5 5 s 202 YIBW3ALd3S Of Delivering on our strategy RENTAL INCOME (SEKm) ___ 20.1% too 840 +6.0% like-for-like Jan - Sep 2023 Jon - Sep 2024 NET OPERATING INCOME (SEKm) 46.6% like-for-like COMPLETED NEW CONSTRUCTION (# OF APARTMENTS) 658 606 280 | 2028 (FY) an 2024 a2 2024 a3 20
Slide 11: Increased occupancy rate
Increased occupancy rate OCCUPANCY RATE (%) COMMENTS 2 a a iA =| 3 im a 3 Occupancy rate increases by 0.4 percentage points from previous quarter LN3S3ud | YaL3HOILSV4V3AS 94,6 94,7 z 94,3 94,3 Quarterly fluctuations _ expected, focus remains on 2 a stable positive long-term 2 trend 3 5 8 g Q4 2023
Slide 12: Profitability is temporarily impacted by administrative costs and tax
2 a a iA =| 3 im a 3 3 3 5 L 202 YIAW3Ld3S OF ~ AdVE Profitability is temporarily impacted by administrative costs and tax INCOME STATEMENT 2024 2023 2023 Amountin SEKm Jan= Sep Jan= Sep FY Rentalincome T009 840 1126 Property expenses Operating expenses 244 -342 Maintenance “53 80 Property tax “14 -
Slide 13: Investment properties
Investment properties HIGHLIGHTS Rent increased by 5.2% this year, with a 4.6% average increase set for 2025 in two-year agreements 25 apartments have been renovated in Q3 and 56 apartments year-to-date SEK 39m invested in profitable energy projects Decided to bring customer service in-house FOCUS G
Slide 14: Properties under ongoing construction
Properties under ongoing construction HIGHLIGHTS * Started construction on 540 apartments in Stockholm, Nacka and Skellefted * 80 apartments completed in Karlstad FOCUS GOING FORWARD » Execute ongoing production in line with budget and timetable * Construction starts 2025 * SEK 1.3bn in estimated re
Slide 15: Project development
Project development FOCUS GOING FORWARD * Effective progress of ongoing zoning planning processes * Obtain land allocations with focus on Greater Stockholm TARGETS 2 5 5 2 & = 3 g z 5 3 * Obtain land allocation agreements for new production of at least 800 apartments annually during the coming 5 yea
Slide 16: Earnings capacity
2 a a iA =| 3 im a 3 3 3 5 L 202 YIAW3Ld3S OF ~ AdVE Earnings capacity Investment Ongoin Amount in SEKm properties consi Total COMMENTS Rental value 1,513 57 1,570 New construction that have been Vacancy -80 al “81 completed within the last 12 months Genero WARE ay Wns and properties that have been
Slide 17: Continued progress in sustainability
Continued progress in sustainability improve energy performance » New Head of Social Sustainability appointed * Hired 45 youths for summer jobs : HIGHLIGHTS IDENTIFIED MATERIAL SUSTAINABILITY TOPICS i Vwrenaaseerr z * Carried out a double materiality assessment a * Started climate data collection fo
Slide 18: Changes in property value
a a a a a z a 5 Changes in property value MARKET VALUE AND AVERAGE YIELD REQUIREMENT FOR COMPARABLE PORTFOLIO e@ Market value e@ ‘Average yield requirement a1 2022 a2 2022 @3 2022 04 2022 @1 2023 a2 2023 32023 04.2023 a1 2024 a2 2024 @3 2024 6.0% 5.5% 5.0% 45% 4.0% 3.5% 3.0% 25% 8 g 5 BY 6 2 3 = m 2
Slide 19: Solid financial structure
2 a a iA =| 3 im a 3 3 202 Y38W3Ld3 Solid financial structure HIGHLIGHTS + Attractive financing structure focused on traditional bank financing with long maturities * Refinanced bank loan of SEK 1,077m maturing in 2024 with new loan maturing in 2027 after the period » Entered credit facility agreeme
Slide 20: Key takeaways
2 a a iA =| 3 im a 3 3 3 = = 5 202 Y38W31d3S Key takeaways Strong growth in rental income and NOI Already signs of increased profitability Strong capital structure with low risk Strategic and operational focus going forward Expected strong rental development 2025 2 a ed S & 3 3 = mn 3 2
Slide 21: Q&A
Q&A
Slide 22: Sveafastigheter
a Sveafastigheter info@sveafastigheter.se +46 (0)200-22 72 00