Boho Group Ab (publ) · OMXSTO:BOHO
Boho Group Ab (publ) — Quartiers Properties — Investor Presentation (December 2018)
18 slides from Boho Group Ab (publ)'s investor presentation, December 2018
Slide 1: Investor Presentation December 2018
INVESTOR PRESENTATION DECEMBER 2018 Quartiers Properties AB (publ) Strandvägen 7A, 114 56, Stockholm Info@quartiersproperties.se www.quartiersproperties.se
Slide 2: Disclaimer
DISCLAIMER This Presentation is not intended to provide the basis of any credit or other evaluation and should not be considered as a recommendation by Quartiers Properties AB (publ) (“Quartiers” or the “Company”) that any recipient of this Presentation should purchase ordinary shares or preference
Slide 3: Executive Summary
EXECUTIVE SUMMARY • Operating in the profitable and growing Costa del Sol property market with strong macro and microeconomic fundamentals. • Active within two business segments, home building activity and value creation in underperforming assets, developing the assets with an experienced management
Slide 4: Background & History
BACKGROUND & HISTORY 2015 • Operation starts. • Quartiers acquires 58 apartments in the community of Hacienda de Cifuentes in Benahavis. The apartments were acquired from Aliseda. • Project 22byQuartiers is acquired. • Shares are issued at a total value of approximately SEK 86 million during the yea
Slide 5: Shareholder Structure
SHAREHOLDER STRUCTURE • Quartiers has two outstanding share classes. Outstanding ordinary shares amounts to 48,462,896 and the number of outstanding preference shares is 7,274,617. The preference share distributes SEK 0.96 (EUR 0.09) per annum. • The market cap of the ordinary share on December 12,
Slide 6: Team in Spain
TEAM IN SPAIN • Master’s degree in finance from the Faculty of Economics of Gothenburg University, part of education at the ESSEC Business School in Paris and HEC in Montreal. Marcus Johansson Prakt CEO • Quartiers’ CFO since 2016 and appointed CEO 2018. Experience in property development and financ
Slide 7: Team in Spain
TEAM IN SPAIN • Bachelor of Science in Hospitality Management by Endicott College, Beverly, MA, Swiss Hotel Diploma and Associate of Business Henric Person Administration, Food and Beverage Operations by Les Roches Hotel Management School in Bluche, Switzerland. Service & • Held prime hotel and rest
Slide 8: What We Do - Business Segments
WHAT WE DO - BUSINESS SEGMENTS VALUE CREATION IN UNDERPERFORMING ASSETS Create value in existing properties through optimizing activities and capex. Properties are developed with Scandinavian knowledge and expertise, targeting a North European market. HOME BUILDING ACTIVITY Buy or sell apartments an
Slide 9: Market Fundamentals and the Real Estate Sector
MARKET FUNDAMENTALS AND THE REAL ESTATE SECTOR • Spain is one of the fastest growing economies in Europe with a GDP growth in HISTORIC PRODUCTION STARTS OF RESIDENTIAL PROPERTIES IN THE MALAGA PROVINCE 2017 of 3.1% and expected GDP growth for 2018 of 2.7% (source: Eurostat). 45 000 • The Costa del S
Slide 10: Risk Factors and Solutions
RISK FACTORS AND SOLUTIONS Construction costs are rising due to increased activity in the production CONSTRUCTION sector. However, construction costs only represent approximately COSTS ARE 50% of the average selling price of a home, so a 1% increase in price TRENDING UPWARDS outweighs a 1% increase
Slide 11: A Transparent Company Close to Its Shareholders and Investors
CORPORATE GOVERNANCE • Governance involves upholding: - Efficient organisational structure. - Risk management and internal control systems. - Transparent internal and external reporting. • Quartiers follows Nasdaq’s rulebook for listed companies and adheres to the MAR regulation imposed by the Europ
Slide 12: Apartments in Benahavis - Hacienda de Cifuentes
APARTMENTS IN BENAHAVIS - HACIENDA DE CIFUENTES MAIN PURPOSE 156,000€ x 99 316,000€ x 99 416,000€ x 99 Conduct active value creation. SECONDARY PURPOSE = = = 15,444,000€ 31,284,000€ 41,184,000€ Apply different sales channels such as short-term rental, long-term rental and sales related to shared eco
Slide 13: Hotel on the Golden Mile - Boho Club
HOTEL ON THE GOLDEN MILE - BOHO CLUB MAIN PURPOSE Expected future buildability Increase the value of the property through increased buildability. Current TIME HORIZON buildability Value creation strategy to 2023. 16,207 sqm ACTION # 2 - DEVELOPMENT OF A HIGH-END HOTEL 4,182 sqm IN A PRIME AREA, WITH
Slide 14: Home Building Activity
HOME BUILDING ACTIVITY ACTION # 3 - HOME BUILDING ACTIVITY • Pipeline of 104 villas and apartments to sell with an estimated sales value of approximately 79.0 MEUR. • Estimated profit after taxes not considered in the NAV calculation of approx. 30.5 MEUR. • All projects except for CFS Residential ar
Slide 15: Financial Summary
FINANCIAL SUMMARY FINANCIAL SITUATION AS PER JUNE 30, 2018 WITH EQUITY ADJUSTMENT* ASSETS MSEK (MEUR) EQUITY AND LIABILITIES MSEK (MEUR) Non-current assets 437.1 (42.0) Equity 425.5 (40.9) Current assets 198.7 (19.1) Per ordinary share 8.8 SEK (0.8 EUR) Overvalue assets 64.8 (6.2) Total assets 700.7
Slide 16: Financial Evolution
FINANCIAL EVOLUTION SHAREHOLDERS’ EQUITY (MEUR) PROPERTY VALUES (MEUR) 34,6 59,8 33,1 53,8 30,7 13,6 13,3 4,7 2015 2016 2017 h1 - 2018 2015 2016 2017 h1 - 2018 BALANCE SHEET TOTAL (MEUR) 61,1 54,1 Strong historic growth rate followed by value adding 32,7 investments in the existing portfolio and acq
Slide 17: Net Asset Value and Action Summary
NET ASSET VALUE AND ACTION SUMMARY SUMMARY OF VALUES ESTIMATED ADDED FUTURE VALUE ACTIONS MEUR • The net asset value of the Company before Action 1 - Refurbishment of 99 apartments in Benahavis 7.9 adjustment for preference shares amounts to Action 2 - Development of hotel 29.0 40.9 MEUR, correspond
Slide 18: Thank you!
Thank you! MANAGING DIRECTOR Marcus Johansson Prakt marcus.prakt@quartiersproperties.se +46 (0) 72-018 5998
Quartiers Properties — Investor Presentation (December 2018) on 6ix