Samhallsbyggnadsbolaget I Norden Ab Class B · OMXSTO:SBB_B
Samhallsbyggnadsbolaget I Norden Ab Class B — Q3 2019 Earnings Presentation
12 slides from Samhallsbyggnadsbolaget I Norden Ab Class B's earnings presentation, Oct 29, 2019
Slide 1: Webcast Presentation Q3 - 2019
Adjunkten 2, Linköping WEBCAST PRESENTATION Q3 - 2019 September 2019
Slide 2: Period Highlights
PERIOD HIGHLIGHTS ▪ Rental income increased to SEK 1,400m (1,227) and NOI increased to SEK 903m (797). 1 ▪ Profit before tax amounted to SEK 1,526m. Profit after tax was SEK 1,337m. ▪ The profit from property management adjusted for non-recurring costs increased compared with the third quarter of 20
Slide 3: Financial Performance
FINANCIAL PERFORMANCE 2019 2018 2018 Q3 Q3 Jan-Dec Rental income, SEKm 1,400 1,227 1,680 Net operating income, SEKm 903 797 1,071 Surplus ratio, % 65 65 64 Interim profit, SEKm 1,337 999 1,690 Yield, % 4.7 4.8 4.7 Cash flow from current operations, SEKm 507 255 248 Property value (market value), SEK
Slide 4: SBB has assembled a unique portfolio across Tier 1 locations
SBB HAS ASSEMBLED A UNIQUE PORTFOLIO ACROSS TIER 1 LOCATIONS High quality property portfolio with attractive underlying exposures Geographical diversification R12 Earnings capacity by tenant type 9% Government LSS housing 33% 91% 58% SEK of the earnings Indirect gov. 31% 2,003 of the property value
Slide 5: Low-risk community service and residential properties complemented by residential development potential
LOW-RISK COMMUNITY SERVICE AND RESIDENTIAL PROPERTIES COMPLEMENTED BY RESIDENTIAL DEVELOPMENT POTENTIAL Social infrastructure properties Residential properties Other / building rights development SEK 18.3bn SEK 10.3bn 7% SEK 2.1bn 60% 34% Includes schools, elderly care, LSS-housing and Mainly consti
Slide 6: Long term reliable partner for municipalities creates stable income
LONG TERM RELIABLE PARTNER FOR MUNICIPALITIES CREATES STABLE INCOME Income overview1) ▪ Long history of actively working with several History of municipalities in Sweden Classification Rental Income, SEKm % of Total acquiring from municipalities ▪ First transaction completed only 6 months after Resi
Slide 7: Underlying megatrends support continued growth
UNDERLYING MEGATRENDS SUPPORT CONTINUED GROWTH Demographic change Sustainability and energy efficiency Urbanization |7
Slide 8: Strong net operating income in Q3
STRONG NET OPERATING INCOME IN Q3 1 ▪ Net income after tax for the period amounted to SEK 404m (482) and Operating profit doubled to SEK 254m (113). ▪ Our strong net operating income combined with long-term reduced financing costs enable continuing strong cash flow. Cash flow from 2 operations befor
Slide 9: Earnings capacity property portfolio as of 30 September 2019
EARNINGS CAPACITY PROPERTY PORTFOLIO AS OF 30 SEPTEMBER 2019 Current earnings capability for the Group for 12 months SEKm Surplus ratio: 69% 2 003 80 69 630 85 150 446 1 374 1 141 991 Rental income Property costs NOI Central Profit from JV Financial income Financial Operating profit Cost of cash Adj
Slide 10: Project development potential
PROJECT DEVELOPMENT POTENTIAL Current development portfolio (30 September 2019) Example projects Planning phase GFA building rights (sq.m.) Book value (SEKm) per sq.m. Västerhaninge (Haninge) Zoning plan process Phase 1 – Project ideas 96 140 20 208 Västerhaninge centrum, Haninge Phase 2 – Pending p
Slide 11: In summary
IN SUMMARY ▪ Sustainable and predictable cash flow remains the foundation of our activities. 1 ▪ Cash flow from operating activities before changes in working capital increased by 99 percent to SEK 507m (255). Adjusted for non- recurring costs for, among other things, the repayment of expensive loan
Slide 12: Thank you!
THANK YOU! SBB Samhdllsbyggnadsbolaget {SBB) :
Samhällsbyggnadsbolaget i Norden AB (SBB) — Q3 2019 Earnings Presentation on 6ix