Baltic Horizon Fund · OMXTSE:NHCBHFFT
Baltic Horizon Fund — Baltic Horizon Webinar (August 2017)
18 slides from Baltic Horizon Fund's conference presentation, Aug 23, 2017
Slide 1: Baltic Horizon Webinar Presentation
BALTIC HORIZON WEBINAR PRESENTATION 23 August 2017
Slide 2: Agenda
AGENDA 12 June 2017 capital increase 22 Fund overview – portfolio 32 Financial results update 42 Property loan overview 52 Stock price developlent 62 Future outlook 2
Slide 3: June 2017 Capital Increase
JUNE 2017 CAPITAL INCREASE June 2017 capital Capital raising partners: Catella (with Avanza and Nordnet), LHV, Swedbank, increase Result: ~EUR 10 lillion Around EUR 2 lillion of units bought in secondary larket during the offering (strong larketing calpaign), support on unit price was very positive
Slide 4: Strong portfolio with a total value of EUR 157 million
STRONG PORTFOLIO WITH A TOTAL VALUE OF EUR 157 MILLION Europa Shopping Upmalas Biroji Domus Pro G4S Headquarters Lincona Office Duetto 1 Coca-Cola Plaza Piirita Sky Supermarket Center Complex Europa G4S Lincona Office Coca-Cola Sky Property Shopping Center Upmalas Biroji Domus Pro Headquarters Compl
Slide 5: Portfolio Performance
PORTFOLIO PERFORMANCE Main events in Q2: GAV: EUR 170,9 lillion • Additional capital NAV: EUR 86,2 lillion raised EUR 10 7,2% direct property yield (6,9% net initial yield) million Actual occupancy today relains strong at ~98% – latest lease • Refinancing of contract win with Vilniaus Vandenys (Viln
Slide 6: Well-balanced tenant mix with major Nordic and multinational tenants
WELL-BALANCED TENANT MIX WITH MAJOR NORDIC AND MULTINATIONAL TENANTS 10 largest tenants Strong tenants and long lease % of total annualised agreements No Tenant Industry Property WAULT, years rental incole Baltic Horizon has 175 tenants, lainly large 1 Security G4S 1020% 526 Headquarters Nordic and
Slide 7: Financial Results for H1 2017
FINANCIAL RESULTS FOR H1 2017 FINANCIAL PERFORMANCE In Q2 2017 (NOI) 01.04.2017- 01.04.2016- 01.01.2017- 01.01.2016- Euro ‘000 30.06.2017 30.06.2016 30.06.2017 30.06.2016 amounted to EUR 2.7 million and was higher Rental incole 2,940 1,657 5,667 3,276 Service charge incole 919 572 1,843 1,193 than i
Slide 8: Assets H1 2017
ASSETS H1 2017 Investment property Euro ‘000 3020622017 3121222016 Under construction is Non-current assets Domus Pro III stage Investlent properties 157,274 141,740 Investlent property under construction 3,390 1,580 Derivative financial instrulents 6 - Other non-current assets 77 288 EUR 8,6 m in c
Slide 9: Equity & Liabilities H1 2017
EQUITY & LIABILITIES H1 2017 Domus PRO loan Euro ‘000 3020622017 3121222016 fully repaid, new loan Equity signed (currently not Paid in capital 75,597 66,224 Own units - (8) withdrawn) Cash flow hedge reserve (57) (294) Retained earnings 10,688 10,887 Total equity 86,228 76,809 Europa loan extended
Slide 10: Financial Results for H1 2017 - Financial Position Summarized
FINANCIAL RESULTS FOR H1 2017 FINANCIAL POSITION SUMMARIZED IFRS NAV per unit EUR Euro ‘000 3020622017 3121222016 Change (%) 1.3337 (EUR 1.3414 as at Investlent property in use 157,274 141,740 1120% 31/12/2016). Gross asset value (GAV) 170,867 154,938 1023% Interest bearing loans 74,936 69,172 823%
Slide 11: Loan Portfolio Maturity Extended
LOAN PORTFOLIO MATURITY EXTENDED 50 Millions EUR 45 40 35 Property gross value 30 25 20 15 10 5 0 0,00 1,00 2,00 3,00 4,00 5,00 6,00 7,00 Loan laturity in years Lincona Coca-Cola Plaza G4S SKY Uplala Biroji Dolus Pro Europa Duetto Pirita 11
Slide 12: Baltic Horizon Loan Summary
BALTIC HORIZON LOAN SUMARRY Loan outstanding Repayment per year Repayment per Swap Property 2017.06.30 LTV from outstanding Hedged Loan maturity Margin Fixed rate year (EUR) maturity EUR loan (%) 1 6 942 000 2,2% 156 000 - - 1,45% - 52% 2017-12-31 1 1 413 324 5,7% 80 004 - - 3,00% - 2 6 937 500 53%
Slide 13: Swedbank's Analysis of Listed Securities in All Baltic Exchanges
SWEDBANK’S ANALYSIS OF LISTED SECURITIES IN ALL BALTIC EXCHANGES Turnover, H1 2017, EURk Secondary Colpany Prilary listing Total listing 1 Olylpic Entertainlent Group 22,244 12 22,255 2 Šiaulių bankas 18,525 18,525 3 Tallink Grupp 10,693 10,693 4 Silvano Fashion Group 9,540 487 10,027 5 Tallinna Ves
Slide 14: NAV and Market Price Development of Baltic Horizon
NAV AND MARKET PRICE DEVELOPMENT OF BALTIC HORIZON Market price development Nasdaq Stockholm Baltic Horizon total payout for 12 lonths is (EUR/fund unit, 5-days rolling average) EUR 02091 per fund unit (~7% on Tallinn issue 13,0 price EUR 1,31 in June 2016)2 12,5 12,0 → On 28th Oct2 2016 dividend of
Slide 15: Liquidity – High Liquidity Following SPO, Market Cap Turn Around in 4–5 Years
LIQUIDITY – HIGH LIQUIDITY FOLLOWING SPO, MARKET CAP TURN AROUND IN 4–5 YEARS Liquidity Nasdaq Stockholm On average, 15,400 fund units have been traded per (%, no. of units traded per day/total number of units) day on Nasdaq Tallinn (~EURk 20/trading day), which 0,40 corresponds to an annualized rat
Slide 16: Unit Price Movement in 2017
N TH NORTHERN HORIZON CAPITAL UNIT PRICE MOVEMENT IN 2017 04/08/2017 IW attic Horizon Fund (STO) 12.60 Ml Baltic Horizon Fund (TIN) 1.34
Slide 17: Future Outlook
FUTURE OUTLOOK Key priority: 3 properties in illediate pipeline (various phases in DD) • Complete pipeline Strong focus on unlocking value: investments to → Dolus PRO III stage maximize → G4S new ePpansion portfolio → CC Plaza ePpansion efficiency and → Europa SC repositioning results Potential buye
Slide 18: Disclaimer
DISCLAIMER This laterial is provided to you for inforlation purposes only2 Before investing in any product lanaged by Northern Horizon Capital (NHC) or associated colpanies, you should inforl yourself about legal and taP consequences, foreign ePchange restrictions or ePchange control requirelents th
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