Slide 1: Properties for the logistics of the future
Q1 2024 Presentation April 2024 Properties for the logistics of the future Presentation Q1 2024 1
Slide 2: Q1 2024 Presentation
Q1 2024 Presentation April 2024 Q1 2024 Presentation Jörgen Eriksson Sofie Bennsten David Silvesjö CEO CFO Chief Treasury Officer 2
Slide 3: Agenda
Q1 2024 Presentation April 2024 Agenda 1. Summary 5. Financial update 2. Business overview 6. Takeaways from today 3. Business update 7. Q&A 4. Sustainability 3
Slide 4: Q1 2024 summary: Shifting up a gear
Q1 2024 Presentation April 2024 Q1 2024 summary: Shifting up a gear • Rental income increased by 11 percent to 493 SEK M Profit from Property Management (PFPM) SEK M mainly due to indexation and acquisitions 1107 • Profit from property management increased by 954 + 3% 3 percent to SEK M 285 (278) 82
Slide 5: Business overview
Business overview Sector-leading portfolio and prime customer base.
Slide 6: Market update
Q1 2024 Presentation April 2024 Market update • Transactions – more activity • E-commerce is trending up again • Ongoing dialogues regarding new projects takes time • Oversupply, same situation 6
Slide 7: Customer base
Q1 2024 Presentation April 2024 Customer base Packaging Public sector Others Customers Share of contractual value 2% 2% 5% Industry DHL 10% 3% Healthcare ICA 8% 4% Martin &Servera 6% Construction and Postnord 5% Furnishing Logistics and 4% transport Boozt 3% 40% Nowaste Logistics 3% Durable goods DK
Slide 8: Portfolio
Q1 2024 Presentation April 2024 Portfolio Regions Number of Lettable Fair Value, Rental Economic Contractual Surplus properties area, Tsqm SEK M value, SEK letting ratio, annual rent, ratio, %2 M % SEK M1 Sweden South 40 741 9,519 619 94 582 76 Sweden West 37 553 7,755 463 98 453 84 Sweden East 48 8
Slide 9: Business update
Business update A strong financial position and a unique landbank.
Slide 10: Catena carries out a directed new share issue
Q1 2024 Presentation April 2024 Catena carries out a directed new share issue • Raised SEK 2.1 billion • Catena will use the proceeds to • Accelerate the development of its landbank • Capitalise on a SEK 2 billion short-term pipeline of value creating acquisition opportunities • Facilitate its expan
Slide 11: Current development
Q1 2024 Presentation April 2024 Current development 1,897 SEK M Carrying value 1,511 SEK M Remaining Hyltena 1:102, Tenant: Elgiganten Sqm: 86,600 Investments Jönköping Investment: 813 SEK M Finalized: Q2 2024 Stigamo 1.49, Tenant: Nowaste Logistics Sqm: 33,000 289 Tsqm GLA under Jönköping Investmen
Slide 12: Acquisition in Denmark
Q1 2024 Presentation April 2024 Case Acquistion in Denmark Location: Jenrnholmen 49 in Hvidovre, just outside Copenhagen Property value: 630 MSEK Land area: 81,000 sqm Tenant: Scan Global Logistics GLA: 32,000 sqm 12
Slide 13: Acquisition in Helsingborg
Q1 2024 Presentation April 2024 Case Acquistion in Helsingborg Location: Helsingborg, Sweden Property: Torbornahögen 7 Property value: 398 MSEK Status: Just finalized Tenant: DSV Road AB GLA: 29,300 sqm Certification: BREEAM Very Good 13
Slide 14: Future development
Q1 2024 Presentation April 2024 Future development Örebro South (JV, 50%), Land, Sqm: 920,000 Törsjö Pending zoning plan Stockholm South, Land, Sqm: 450,000 4,600 Ksqm Nykvarn/Södertälje Zoning plan approved Land bank Logistics Position Järna Land Sqm: 1,000,000 Södertälje Pending zoning plan 1,700
Slide 15: Leasing update
Q1 2024 Presentation April 2024 Leasing update Maturity profile – Net leasing WALE development Letting ratio contractual annual rent SEK M 97,5% 45,0% 97,2% 250 40,0% 97,0% 35,0% 5,5 5,5 96,5% 96,6% 5,4 200 96% 30,0% 5,1 5,0 96,0% 96% 25,0% 4,9 150 95,6% 95,5% 20,0% 100 95,0% 15,0% 95% 94,7% 50 10,0
Slide 16: Sustainability
Sustainability We are taking long-term responsibility.
Slide 17: Sustainability
Q1 2024 Presentation April 2024 Sustainability Continued progress towards 2030 targets Sustainability targets Q1 2024 2023 2022 2021 Trend • 44 percent of lettable area is environmentally Net-zero greenhouse gas emissions by 2023 certified -Scope 1-2 (location based) 1,240 3,612 2,814 2,632 • Now to
Slide 18: Financial update
Financial update Strong cashflows and balance sheet provides flexibility and opportunity.
Slide 19: Income
Q1 2024 Presentation April 2024 Income Rental income Net operating surplus Profit from property management SEK M +11% SEK M +10% SEK M +3% 1 808 1 447 1107 1 544 1 220 954 1 387 1 095 824 1 264 1 004 1 183 719 903 627 446 493 359 394 278 285 2019 2020 2021 2022 2023 Q1 Q1 2019 2020 2021 2022 2023 Q1
Slide 20: Rental development
Q1 2024 Presentation April 2024 Rental development Q1 2024 YoY Like-for-like1 6,4 % Project development 1,6 % Acquisitions 2,4 % Divestments 0% Total 10,4 % • LFL is driven by CPI increase • The acquisitions of Danish assets, Egeskovej and Jernholmen, and in addition to that Äskatorp 4:26 in Sweden
Slide 21: Capital structure management
Q1 2024 Presentation April 2024 Capital structure management Amplifying equity and broadening investor 500 base 400 300 • Equity placing to bolster earnings per share 200 • Size of SEK 2.1 bn 100 0 • Attention from broad base of investors highlights 2018 2019 2020 2021 2022 2023 Q1 2024 our reputati
Slide 22: Financial position
Q1 2024 Presentation April 2024 Financial position 12 6 Financial strategy provides opportunity 10 5 • Key indicators comfortably within policy - 8 4 and covenant range 6 3 4 2 • Secured LTV of 26 percent and 2 1 unencumbered assets provides leeway to 0 0 capital markets funding 2019 2020 2021 2022
Slide 23: Debt and money management
Q1 2024 Presentation April 2024 Debt and money management SEK M Debt management Debt maturity profile 5 000 • Secured new debt of SEK 1.2 bn to fund two strategic 4 000 acquisitions. Including 600 million of issued MTN bonds and 3 000 500 million of bank loans, totaling an average cost of 4.5 percen
Slide 24: Interest rate management
Q1 2024 Presentation April 2024 Interest rate management Interest environment is changing SEK M Interest maturity profile 6 000 • Average cost of debt increased 7 bps during the quarter 5 000 to 3.8, due to leveraged acquisitions which is expected to 4 000 increase earnings pr share 3 000 2 000 • Du
Slide 25: Transactions
Q1 2024 Presentation April 2024 Capital deployment 1,177 Acquisitions (SEK M) Transactions 4 500,0 4 000,0 3 500,0 3 000,0 0 Divestments (SEK M) 2 500,0 2 000,0 1 500,0 1 000,0 500,0 0,0 Development CAPEX 2019 2020 2021 2022 2023 Q1 2023 Q1 2024 592 Capex - 500,0 (SEK M) Acquisition CAPEX (net) Deve
Slide 26: Property valuation
Q1 2024 Presentation April 2024 Property valuation 5.6% EPRA NIY Higher yields mitigated by higher rent levels • Value changes Q1 2024 • -199 MSEK of unrealized value changes • Driven by higher yields, mitigated by higher rent levels and project • Average weighted valutation yield (exit yield) of 5.
Slide 27: Takeaways from today
Takeaways from today CATENA
Slide 28: Takeaways from today
Q1 2024 Presentation April 2024 1. Catena delivers a solid Q1-report. 2. Catena experiences favorable conditions for continued growth through acquisitions and new projects. 3. With the equity-raise we have conditions to shift up a gear. 28
Slide 29: Q&A
Q1 2024 Presentation April 2024 Q&A Jörgen Eriksson Sofie Bennsten David Silvesjö CEO CFO Chief Treasury Officer 29
Slide 30: Q1 2024 Presentation April 2024
Q1 2024 Presentation April 2024 30