Baltic Horizon Fund · OMXTSE:NHCBHFFT
Baltic Horizon Fund — FY2019 Earnings Presentation
17 slides from Baltic Horizon Fund's earnings presentation, 2020
Slide 1: Baltic Horizon Fund Webinar: Financial results for 2019 (Covid-19 update)
BALTIC HORIZON FUND WEBINAR Financial results for 2019 (Covid-19 update) Page 1
Slide 2: Recent Developments – 2018–2020
RECENT DEVELOPMENTS – 2018–2020 15 August: 18 December: 12/30 April and 8 May: 13 June: 2 October: 11 October: LNK Centre office Signed agreement to acquire 15 May: Baltic Horizon Galerija Centrs Shopping Baltic Horizon closes North Star Business Centre building in Riga Duetto II office building in
Slide 3: Baltic Horizon's Property Portfolio Breakdown
BALTIC HORIZON’S PROPERTY PORTFOLIO BREAKDOWN Fund country allocation as of 31 December 2019 Fund segment allocation as of 31 December 2019 Retail 51% 26% Leisure 4% Estonia Office 45% 40% Latvia Fund portfolio by age as of 31 December 2019* 15+ years 0-5 years 19% 25% 34% Lithuania 10-15 years 25%
Slide 4: Active Asset Management
ACTIVE ASSET MANAGEMENT Vilnius, Lithuania Riga, Latvia Number of properties 6 Number of properties 5 Investment portfolio fair value (EUR ‘000) 122,975 Investment portfolio fair value (EUR ‘000) 143,347 Net leasable area (sq. m.) 60,744 Net leasable area (sq. m.) 49,239 Direct property yield (%) 7.
Slide 5: Strong Historical Portfolio Performance
STRONG HISTORICAL PORTFOLIO PERFORMANCE Occupancy and direct property yield (%) Net rental income (EUR ‘000) 7,2% 98, 2% 7,4 % 7,2% 98, 0% 7,2 % 97, 8% 7,0 % 6,8% 19 219 97, 6% 6,6% 6,8 % 14 804 97, 4% 6,6 % 10 768 97, 2% 6,4 % 97, 0% 6,2 % 7 153 97,1% 97,2% 98,0% 97,5% 96, 8% 6,0 % 96, 6% 5,8 % 201
Slide 6: Generated Net Cash Flow (GNCF)
GENERATED NET CASH FLOW (GNCF) • Generated net cash flow Property Q1 2019 Q2 2019 Q3 2019 Q4 2019 (+) Net rental income (NOI) 3,916 4,256 5,412 5,635 is expected to be (-) Fund administrative expenses (709) (817) (879) (846) negatively affected in (-) External interest expenses (869) (1,043) (1,295)
Slide 7: Baltic Horizon Fund Update on Covid-19
BALTIC HORIZON FUND UPDATE ON COVID-19 While it is too early to The following measures are also in place to further mitigate the risks and evaluate the full protect the long-term interests of Baltic Horizon Fund and its investors: economic impact of the → We have active communication channels with
Slide 8: Relief Measures to SME Tenants Affected by the Covid-19 Pandemic
RELIEF MEASURES TO SME TENANTS AFFECTED BY THE COVID-19 PANDEMIC Relief measures are The following relief measures will be coming into effect on April 1, 2020: aimed primarily at the → Rent payment deferral for the period of 90 days (3 months) which could be smaller most vulnerable extended depend
Slide 9: Financing Summary
FINANCING SUMMARY AS OF 31 DECEMBER 2019 EUR’000 Maturity by separate loan 60 000 57.3% 2.6% 50 000 Bonds LTV Cost of debt 40 000 30 000 Galerija Centrs 0.2% 3.1 years 20 000 Europa CC Plaza and Postimaja Duetto Annual debt Weighted debt 10 000 Domus Pro Upmalas Biroji Vainodes amortization maturity
Slide 10: Financial Debt Structure of the Fund as of 31/12/2019
FINANCIAL DEBT STRUCTURE OF THE FUND AS OF 31/12/2019 • On 8 May 2019, the Fund Carrying amount Fixed rate Property Maturity % of total EUR’000 portion completed a subsequent Galerija Centrs 26 May 2022 30,000 14.5% 100% subscription for its 5- Europa SC 5 July 2022 20,900 10.1% 88% CC Plaza and Pos
Slide 11: Financial Results for 2019
FINANCIAL RESULTS FOR 2019 FINANCIAL PERFORMANCE • In 2019, the Group EUR ‘000 2019 2018 Change (%) recorded a net rental Rental income 20,776 15,860 31.0% income of EUR 19.2 Service charge income 4,525 2,760 63.9% Cost of rental activities (6,082) (3,816) 59.4% million compared to EUR Net rental in
Slide 12: Financial Results for 2019: Assets
FINANCIAL RESULTS FOR 2019 ASSETS AS OF 31/12/2019 • Total investment value EUR ‘000 31.12.2019 31.12.2018 increased from EUR 245 Non-current assets million to EUR 359 Investment properties 356,575 245,160 million after Galerija Investment property under construction 2,367 - Center, North Star and D
Slide 13: Financial Results for 2019: Equity & Liabilities
FINANCIAL RESULTS FOR 2019 EQUITY & LIABILITIES AS OF 31/12/2019 • During 2019, the Fund EUR ‘000 31.12.2019 31.12.2018 NAV increased from EUR Equity 109.8 million to EUR Paid in capital 138,064 93,673 152.5 million as Own units - (335) compared to the end of Cash flow hedge reserve (1,556) (1,005)
Slide 14: Financial Results for 2019: Key Figures
FINANCIAL RESULTS FOR 2019 KEY FIGURES IFRS NAV per unit Investment portfolio value (EUR ‘000) Net rental income / net profit (EUR ‘000) EUR 1.3451 19 219 358 942 31.12.2018: EUR 1.3988 14 804 10 768 245 160 9 444 9 990 8 791 EPRA NAV per unit 7 153 189 317 5 760 143 320 EUR 1.4333 31.12.2018: EUR 1
Slide 15: Stabilized Growth Strategy
STABILIZED GROWTH STRATEGY Focus in 2020 on new Diversified cash flow Baltic listed REIT with key focus on high dividends and long term value strategic cash-flow creation through active asset management properties and asset Flexible market adjusted strategy following the main RE market trends ma
Slide 16: Development Opportunity: Meraki Project
DEVELOPMENT OPPORTUNITY MERAKI PROJECT In 2018, the Fund completed the acquisition 0.87 hectares of land next to the Domus Pro complex. The plots were acquired with the goal to further expand the Domus Pro complex. The building permit received in Q4 2019 allows to build approx. 15,800 sq. m. of
Slide 17: Disclaimer
DISCLAIMER This material is provided to you for information purposes only. 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