Slide 1: Properties for the logistics of the future
Q3 2023 Presentation October 2023 Properties for the logistics of the future Presentation Q3 2023 1
Slide 2: Q3 2023 Presentation
Q3 2023 Presentation October 2023 Q3 2023 Presentation Jörgen Eriksson Sofie Bennsten David Silvesjö CEO Chief Financial Officer Chief Treasury Officer 2
Slide 3: Agenda
Q3 2023 Presentation October 2023 Agenda 1. Summary, last quarter 5. Financial update 2. Business overview 6. Take-away from today 3. Business update 7. Q&A 4. Sustainability 3
Slide 4: Q3 2023 summary: A sound investment
Q3 2023 Presentation October 2023 Q3 2023 summary: A sound investment • Rental income increased by 17 percent mainly due to indexation and acquisitions • Profit from property management increased by 17 + 17% Profit from Property Management (PFPM) percent to SEK M 849 (723) SEK M 954 824 849 • Profit
Slide 5: Business overview
Business overview Sector-leading portfolio and prime customer base.
Slide 6: Market update
Q3 2023 Presentation October 2023 Market update A trying environment • Wait and see attitude, more focus on profitability than growth • Opportunities arise for 3PL players to gain market share • Energy solutions and automation are important features for our customers • Short-term oversupply in some
Slide 7: Portfolio
Q3 2023 Presentation October 2023 Portfolio Regions Number of Lettable Fair Value, Rental Economic Contractual Surplus properties area, Tsqm SEK M value, SEK letting ratio, annual rent, ratio, %2 M % SEK M1 Göteborg 22 371 5,227 312 97 303 86 Helsingborg 26 510 5,160 363 97 352 76 Jönköping 11 158 1
Slide 8: Customer base
Q3 2023 Presentation October 2023 Customer base Public sector Others Customers Share of contractual value Industry Packaging 2% 6% 3% 2% DHL 11% Healthcare ICA 8% 4% Martin &Servera 6% Construction and Postnord 5% Furnishing 4% Logistics and Boozt 3% transport Nowaste Logistics 3% Durable goods 38%
Slide 9: Business update
Business update Attractive growth enabled by our long- standing customer relationships, unique landbank and strong financial position.
Slide 10: Current development
Q3 2023 Presentation October 2023 Current development 1,539 SEK M Carrying value Stenvreten 8:33, Tenant: COOP Sqm: 5,800 Enköping Investment: 124 SEK M Finalized: Q1 2024 2,194 SEK M Remaining Hyltena 1:102, Tenant: Elgiganten Sqm: 86,600 Investments Jönköping Investment: 813 SEK M Finalized: Q2 20
Slide 11: Logistics position Söderåsen
Q3 2023 Presentation October 2023 Case Logistics position Söderåsen Location: Bjuv municipality Property: Vrams Gunnarstorp 1:15 Land area: 565,000 sqm Status: Zoning plan approved Expected GLA: 240,000 sqm 11
Slide 12: Jönköping, Stigamo
Q3 2023 Presentation October 2023 Case Jönköping, Stigamo Location: Jönköping municipality Property: Stigamo 1:49 Land area: 85,000 sqm Status: Ongoing construction Tenant: Nowaste Logistics GLA: 33,000 sqm 12 Certification: BREEAM Excellent
Slide 13: Lodgatan, Malmö
Q3 2023 Presentation October 2023 Case Lodgatan, Malmö Location: Malmö municipality Property: Sockret 4 Land area: 40,000 sqm Status: Ongoing construction Tenant: LEKIA GLA: 18,665 sqm Certification: Miljöbyggnad Silver 13
Slide 14: Future development
Q3 2023 Presentation October 2023 Future development Örebro South (JV, 50%), Land, Sqm: 920,000 Törsjö Pending zoning plan Stockholm South, Land, Sqm: 450,000 4,600 Ksqm Nykvarn/Södertälje Zoning plan approved Land bank Logistics Position Järna Land Sqm: 1,000 000 Södertälje Pending zoning plan 1,70
Slide 15: Leasing update
Q3 2023 Presentation October 2023 Leasing update Net leasing Maturity profile – WALE development Letting ratio contractual annual rent SEK M 50,0% 100,0% 150 5,5 5,5 45,0% 99,0% 100 40,0% 98,0% 35,0% 5,2 50 30,0% 97,0% 5,1 25,0% 96,0% 0 5,0 96,4% 20,0% 4,9 95,0% 15,0% -50 94,0% 10,0% -100 5,0% 93,0%
Slide 16: Sustainability
Sustainability We are taking long-term responsibility.
Slide 17: Sustainability
Q3 2023 Presentation October 2023 Sustainability Continued progress towards 2030 targets Sustainability targets Q3 2023 2022 2021 Trend • 37 percent of lettable area is environmentally Net-zero greenhouse gas emissions by 2023 certified -Scope 1-2 (location based) 2,536 2,814 2,632 -Scope 3 (locatio
Slide 18: Financial update
Financial update Strong cashflows and balance sheet provides flexibility and opportunity.
Slide 19: Income
Q3 2023 Presentation October 2023 Income Rental income Net operating surplus Profit from property management SEK M SEK M SEK M +17% +19% +17% 1 544 1 220 1 387 1 095 1 088 954 1 343 1 004 1 264 824 849 1 183 1 150 903 911 1 091 828 719 723 627 571 2018 2019 2020 2021 2022 Q3 Q3 2018 2019 2020 2021 2
Slide 20: Rental development
Q3 2023 Presentation October 2023 Rental development Q3 2023 YoY Like-for-like1 10,7 % Project development 2,9 % Acquisitions 6,0 % Divestments -2,8 % Total 16,8 % • Strong LFL driven by CPI increase • Vanda and Fröträdet main drivers within divestments • The acquisitions of two danish assets and tw
Slide 21: Capital structure management
Q3 2023 Presentation October 2023 Capital structure management Strong balance sheet supports ongoing and SEK M future investment scheme 35 000 60% 53,5% 51,4% • During the quarter, financial markets has developed 30 000 50% higher market rates on back of stickier inflation which 43,5% puts further p
Slide 22: Financial position
Q3 2023 Presentation October 2023 Financial position Comfortable headroom to policy and covenants 12 6 10 5 • Preparatory interest rate hedge management and 8 4 strong operations are mitigating the new interest rate 6 3 environment 4 2 2 1 • ICR of 4.2x and Net debt/EBITDA of 7.5x well within 0 0 po
Slide 23: Debt and money management
Q3 2023 Presentation October 2023 Debt and money management Good access to capital given resilient position SEK M Debt maturity profile Debt management 3 000 2 500 • During the quarter we added 430 SEK M of green financing from 2 000 the Nordic Investment bank (NIB), with debt maturity of eight year
Slide 24: Interest sensitivity
Q3 2023 Presentation October 2023 Interest sensitivity Hedging complies with long term strategy SEK M • Significant hedge against rising interest rates 5 000 Interest maturity profile • During the quarter, we acquired an interest rate 4 000 swap of 500 SEK M at 3 percent with 8 years of 3 000 maturi
Slide 25: Transactions
Q3 2023 Presentation October 2023 Capital deployment 1,172 Acquisitions (SEK M) Transactions 4 500 4 000 3 500 -9 Divestments (SEK M) 3 000 2 500 2 000 1 500 1 000 500 Development CAPEX 0 1,418 2018 2019 2020 2021 2022 Q3 2023 Capex (SEK M) -500 Acquisition CAPEX (net) Development CAPEX 25
Slide 26: Property valuation
Q3 2023 Presentation October 2023 Property valuation 5.3% EPRA Higher yields mitigated by higher rent levels 35 000 NIY 7,0% • Value changes YTD, 30 September 2023 30 000 6,0% • - 603 SEK M of unrealized value change 25 000 5,0% • Driven by higher yields, mitigated by higher rent levels and project
Slide 27: Takeaway from today
Takeaway from today CATENA
Slide 28: Catena continues to deliver profitable growth despite challenging times
Q3 2023 Presentation October 2023 1. Catena continues to deliver profitable growth despite challenging times 2. Extensive pipeline of projects combined with a strong balance sheet 28
Slide 29: Q&A
Q3 2023 Presentation October 2023 Q&A Jörgen Eriksson Sofie Bennsten David Silvesjö CEO Chief Financial Officer Chief Treasury Officer 29
Slide 30: Q3 2023 Presentation October 2023
Q3 2023 Presentation October 2023 30