Baltic Horizon Fund · OMXTSE:NHCBHFFT
Baltic Horizon Fund — Baltic Horizon Webinar (April 2018)
15 slides from Baltic Horizon Fund's conference presentation, Apr 9, 2018
Slide 1: Baltic Horizon Webinar Presentation
BALTIC HORIZON WEBINAR PRESENTATION 9 April 2018
Slide 2: Agenda
AGENDA 12 Fund overview – portfolio 22 Financial results update 32 Bond program 42 Unit price update 52 Future outlook 2
Slide 3: Property Portfolio Breakdown
11 PROPERTY PORTFOLIO BREAKDOWN Geographical allocation post Postimaja Geographical and Segmental diversification 31,2% 40,8% Latvian State Forestry 28,0% as largest tenant in portfolio Vilnius Riga Tallinn 6 properties with Segment allocation post Postimaja expansion potential acquisition 7,2% 42,0
Slide 4: Strong Portfolio with a Value of EUR 224 Million
STRONG PORTFOLIO WITH A VALUE OF EUR 224 MILLION Geographical and Segmental diversification Latvian State Forestry as largest tenant in portfolio 6 properties with expansion potential
Slide 5: Strong Portfolio with a Value of EUR 224 Million
STRONG PORTFOLIO WITH A VALUE OF EUR 224 MILLION 5
Slide 6: Well-Balanced Tenant Mix with Major Nordic and Multinational Tenants
WELL-BALANCED TENANT MIX WITH MAJOR NORDIC AND MULTINATIONAL TENANTS 6
Slide 7: Postimaja and CC Plaza Expansion
POSTIMAJA AND CC PLAZA EXPANSION
Slide 8: Portfolio Performance
PORTFOLIO PERFORMANCE Most capital raised in GAV: EUR 215 million Q4 has been NAV: EUR 107 million deployed 7,2% direct property yield holding strong (6,8% net initial yield) Actual occupancy today remains strong at 97-98% Capital raised in 2017 invested in Vainodes 1 and Postimaja Equity left for a
Slide 9: Income Statement
INCOME STATEMENT EUR’000 2014 2015 2016 2017 Rental income 3,048 6,073 7,874 11,839 Service charge income 829 2,062 2,594 3,692 Cost of rental activities -1,177 -2,796 -3,315 -4,763 Net rental income 2,700 5,339 7,153 10,768 Administrative expenses -665 -984 -2,190 -2,774 Other operating income - 26
Slide 10: Balance Sheet
BALANCE SHEET EUR’000 31 Dec 2014 31 Dec 2015 31 Dec 2016 31 Dec 2017 Investment properties 46,170 86,810 141,740 189,317 Investment property under construction - - 1,580 - Derivative financial instruments - - - 89 Other non-current assets - 263 288 146 Total non-current assets 46,170 87,073 143,608
Slide 11: Key Indicators
KEY INDICATORS 2014 2015 2016 2017 Property-related Value of investment properties, EUR'000 46,170 86,810 141,740 189,317 Number of properties, period end 4 5 8 10 Rentable area, sqm Period end 30,928 48,651 75,107 96,245 Period average1 28,322 44,718 58,936 83,736 Vacancy rate Period end 6.3% 2.0%
Slide 12: Bond Program
BOND PROGRAM Diversification of Capital Bond program up to EUR 30 million structure of Baltic horizon → Diversification of Capital structure → Rating to be obtained from S&P Cash management: removal → Pre-screening of investors completed of bank loan amortization Renegotiation of the bank loans due
Slide 13: Unit Price Movement Till April
UNIT PRICE MOVEMENT TILL APRIL
Slide 14: Future Outlook
FUTURE OUTLOOK Strong focus on unlocking value: Vainodes 1 → Domus PRO III Duetto II stage → Vainodes 1 extension → G4S new extension → CC Plaza CC Plaza extension expansion → Duetto II → Europa SC repositioning Domus PRO stages G4S HQ 14
Slide 15: Disclaimer
DISCLAIMER This material is provided to you for information purposes only2 Before investing in any product managed by Northern Horizon Capital (NHC) or associated companies, you should inform yourself about legal and tax consequences, foreign exchange restrictions or exchange control requirements th
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