Stenhus Fastigheter I Norden Ab · OMXSTO:SFAST
Stenhus Fastigheter I Norden Ab — Q1 2024 Earnings Presentation
20 slides from Stenhus Fastigheter I Norden Ab's earnings presentation, May 2024
Slide 1: Q1 2024 Presentation
STENHUS Fastigheter Q1 2024 Presentation
Slide 2: Table of contents
Table of contents 1. Introduction to Stenhus Fastigheter 2. Property portfolio 3. Financials Today’s presenters Elias Georgiadis Mikael Nicander Tomas Georgiadis CEO & Board member Deputy CEO CFO 2 Q1 2024 Presentation
Slide 3: 1. Introduction to Stenhus Fastigheter
1. Introduction to Stenhus Fastigheter
Slide 4: Stenhus Fastigheter in brief
Stenhus Fastigheter in brief Key ratios 2024-03-31 Geographical footprint, % of portfolio value Company overview Market value per region Clear focus on sustainable growth, Stockholm 32% MSEK 1 051 MSEK 390 West 36% operating cash flows, and lease dura- Mälardalen 21% 13,7 tions. Rental income1 Earni
Slide 5: Historical development
Historical development Historical development of Stenhus Fastigheter Stenhus Fastigheter’s targets Property value Q1 2021–Q1 2024 2024-03-31 14,2 14,3 13,9 13,7 13,3 13,0 13,0 > SEK 20bn property value before 2025 12% ROE 7,6 7,8 over a business cycle 7,2 6,7 LTV < 60% currently 56,5% 3,0 2,6 Net LT
Slide 6: Long-term strategy supported by a value-creating business model
Long-term strategy supported by a value-creating business model Business model and strategy Light industrial/ logistics – Long-term strategy is to manage all properties and projects in-house to enable maximum customer knowledge and customer satisfaction and thus deliver in line with the Company’s bu
Slide 7: Sustainability efforts
Sustainability efforts Sustainability efforts are based on the UN Sustainable Development Goals STENHUS VALUE CHAIN ION FOR EAT FU Environmental efficiency Business ethics CR – Renewable energy – Anti-corruption UE TU LE VAL RE – Energy efficiency – Code of Conduct G E N ERA – Sustainability certifi
Slide 8: Selected projects
Selected projects Examples of sustainability projects Finnslätten 6, Västerås Bro Klöv & Lilla Ullevi 1:12 , Bro Husmodern 6, Täby Stenhus has during 2023 built a new officebuilding which is The trading site has an oil boiler for heating, which This pre-school building has been converted from an oil
Slide 9: 2. The property portfolio
2. The property portfolio
Slide 10: Critical mass of high quality assets in strong property markets
Critical mass of high quality assets in strong property markets 160 properties with a total market value of SEK 13,731m Rental income Market value per segment Rental income per segment Light industrial/logistics 53% Light industrial/logistics 55% Grocery 16% Grocery 18% Public 20% 13,7 Public 16% bn
Slide 11: Diversified tenants and solid WAULT of 6.2 years
Diversified tenants and solid WAULT of 6.2 years Top 15 largest tenants, rental income1 , accounted for 36%of rental income Lease maturity structure by rental income1 Number of Wault, Tenant Area, sq.m contracts2 year Annual rent Alstom Rail Sweden AB 25 795 2 5,6 Number of Maturity year Area, sq.m
Slide 12: Selected properties
Selected properties Tyresö Forellen 19 Stockholm Ivalo 1 Botkyrka Samariten 1 Norrtälje Vattumannen 2,3 &4 Västerås Finnslätten 6 Eskilstuna Skiftinge 1:5 & 1:6 Tibro Hammaren 1 Skövde Personbilen 1 Kungsbacka Hede 3:122 12 Q1 2024 Presentation
Slide 13: Selected projects
Selected projects Stenhus continuously work to identify development opportunities and unused building rights within the stock in order to create additional value and facilitate long-term contractual relationships Köpmannen 7 Bro Klöv & Lilla Ullevi 1:12 , Bro Skiftinge 1:5 & 1:6 City: Segment City:
Slide 14: 3. Financials
3. Financials
Slide 15: Income statement
Income statement Income statement Rental income and EBITDA, reported (MSEK) 268 265 268 2024 2023 R12 2023 Rental income, reported 247 Jan- Jan- -23 April- Jan- EBITDA, reported 236 235 239 (SEKt) March March -24 March Dec Rental income 268 075 268 232 1 018 828 1 018 985 196 Property costs -70 736
Slide 16: Current earning capacity and Financial targets
Current earning capacity and Financial targets Earnings capacity long term as of Q1 2024 Financial targets and dividend policy1 Target Policy Outcome 1 111 -59 Loan-to-value < 60% 56,5% 1 051 -216 Net loan-to-value < 55% 54,8% Equity ratio > 35% 41,2% 835 -59 Interest coverage ratio > 2.25x 1,88x 12
Slide 17: Balance sheet
Balance sheet Assets Equity and Liabilities (SEKt) 2024-03-31 2023-03-31 2023-12-31 (SEKt) 2024-03-31 2023-03-31 2023-12-31 Investment properties 13 721 006 13 344 046 13 860 077 Share capital 370 629 370 629 370 629 Plot and right of use assets 196 844 195 123 196 321 Other capital contributions 4
Slide 18: Debt financing and capital structure at a glance
Debt financing and capital structure at a glance Net Loan to Value Debt maturity structure (MSEK) ¹ Gross LTV Net LTV 57% 57% 57% 57% 56% 53% 53% 3 720 Target of Net LTV below 55% 55% 55% 54% 55% 53% 55% 55% 50% 51% 48% 48% 46% 46% 46% 45% 45% 2 971 42% 40% 1 815 40% 27% 15% 18% 298 15% Dec 31 2020
Slide 19: Shareholders and Calendar
Shareholders and Calendar Largest shareholder 2024-03-31 Calendar Number of Shareholder shares Percent Sterner Stenhus Holding AB 90 301 378 24,4 Fastighets AB Balder 73 041 556 19,7 Annual general Interim report Investment AB Öresund 33 016 084 8,9 meeting Q2 Länsförsäkringar Fonder 25 022 151 6,8
Slide 20: STENHUS
STENHUS Fastigheter
Stenhus Fastigheter i Norden — Q1 2024 Earnings Presentation on 6ix