Klarabo Sverige Ab Class B · OMXSTO:KLARA_B
Klarabo Sverige Ab Class B — Q2 2024 Earnings Presentation
18 slides from Klarabo Sverige Ab Class B's earnings presentation, Jul 16, 2024
Slide 1: Q2 report
Q2 report 16 July 2024 KlaraBo property in Gävle 1
Slide 2: Today’s presenters
Today’s presenters Andreas Morfiadakis Per Holmqvist CEO and co-founder CFO 2
Slide 3: Snapshot
Snapshot 3
Slide 4: Stabilised property values
Stabilised property values • Financial development Q2 • Increased revenue +5% due to measures to raise standards and annual rent increase +5% Revenue SEK 158 m • Net operating income in line with last year • Income from property management SEK 3 m lower than Q2 +1% Net operating income SEK 97 m 2023
Slide 5: Portfolio and Business model
Portfolio and Business model 5
Slide 6: Fully occupied property portfolio
Fully occupied property portfolio Geographical presence and 6,614 97.7% SEK 1,136 administrative areas Real occupancy rate Average rent per sq.m and year, Apartments under management unrenovated portfolio SEK 18,079 85% 437,700 Market value per sq. m. Residential Sq.m lettable area housing North Cen
Slide 7: Rental value trend continues with stable occupancy rate
Rental value trend continues with stable occupancy rate • About 4,000 apartments, or 60% of total portfolio with renovation potential, excluding construction • Renovations only after tenants have moved out at their own initiative • Renovations increase property values and strengthens cash flow • Ren
Slide 8: Opportunity in project portfolio when market recovers
Opportunity in project portfolio when market recovers Planned development rights by region • Opportunities in product portfolio as market recovers 0 • Land allocation agreement with the City of apartments under construction 95 Malmö for 300 rental and condominium apartments 294 Contracted annual and
Slide 9: Financials Q2
Financials Q2 9
Slide 10: Positive property values and continued compensation for cost inflation
Positive property values and continued compensation for cost inflation 2024 2023 2023 3 months 3 months 12 months SEK m Apr-Jun Apr-Jun Jan-Dec Revenue 157.5 149.7 589.7 Revenue Costs -60.6 -54.0 -252.5 • Q2 revenue +5% YoY Net operating income 96.9 95.7 337.2 • 4% increase in revenue, on a like-for
Slide 11: Continued stable financial position
Continued stable financial position SEK m 30/06/2024 30/06/2023 31/12/2023 Intangible assets 0.3 0.3 0.3 Investment properties 9,071.0 9,031.7 9,031.9 Property, plant and equipment 6.6 8.5 7.7 Financial non-current assets 4.4 17.7 17.2 • Increased exit yields in average of 7 bps throughout the Deriv
Slide 12: 70 percent of loan portfolio at fixed interest rates
70 percent of loan portfolio at fixed interest rates Maturity structure – Fixed interest 2024-06-30 Maturity structure – Fixed credit 2024-06-30 40% 35% 35% 30% 30% 25% 25% 20% 20% 15% 15% 10% 10% 5% 5% 0% 0% <1 yr >=1 yr >=2 yr >=3 yr >=4 yr >5 yr <3 months >=1 yr <3 yr >=3 yr <5 yr >=5 yr <7 yr >=
Slide 13: Current earnings capacity
Current earnings capacity SEK m Jul 1 2024 Apr 1 2024 Jan 1 2024 Oct 1 2023 Jul 1 2023 Apr 1 2023 Rental revenue 642.1 640.1 634.9 603.9 600.6 593.8 Property expenses -261.1 -261.1 -261.1 -243.8 -243.4 -243.4 Net oper income 381.0 379.0 373.8 360.1 357.1 350.4 Surplus ratio, % 59.3 59.2 58.9 59.6 59
Slide 14: Summary
Summary 14
Slide 15: Current trading - increased acquisition focus
Current trading - increased acquisition focus • Upgrades and refurbishments continues at slightly lower pace than previous quarters • Occupancy rate remains at a high level and stable level – low market vacancy in rental apartments in Sweden in general • The slightly more positive market environment
Slide 16: KlaraBo investment highlights
KlaraBo investment highlights Over 60% of apartments in portfolio with renovation potential Continued high demand for rentals due to +24% average annual growth in NRV housing shortage, lower construction of new housing and lower disposable income since 2019 Growth potential acquisitions and developm
Slide 17: Q&A
Q&A 17
Slide 18: Thank you!
Thank you! 18