Baltic Horizon Fund · OMXTSE:NHCBHFFT
Baltic Horizon Fund — Q2 2023 Earnings Presentation
17 slides from Baltic Horizon Fund's earnings presentation, August 2023
Slide 1: Baltic Horizon Fund Q2 2023 Webinar
Q2 2023 Webinar Baltic Horizon Fund
Slide 2: Notable events for the Fund
Notable events for the Fund On 8 May 2023, the Fund completed On 17 May 2023, the Fund signed a Lars Ohnemus was elected as At the international Baltic Real Estate the subscription for its 5-year secured share sale and purchase agreement member and chairman of the Investment Forum, held 1 June 2023,
Slide 3: Disposal of Domus PRO Retail & Office
Disposal of Domus PRO Retail & Office On 8 February 2023, the Fund signed a share sale and purchase agreement with UAB PREF III to sell 100% shares of BH Domus Pro UAB which owns a retail park and an office building in Vilnius, Lithuania. The agreed price of the property was approximately EUR 23.5 m
Slide 4: Disposal of Duetto I / II
Disposal of Duetto I / II On 16 May 2023, the Fund signed a share sale and purchase agreement with East Capital to sell 100% shares of BH Duetto UAB. The agreed price of the property was approximately EUR 37 million. Originally developed by YIT and acquired by Baltic Horizon in 2017 and 2019. The pr
Slide 5: Baltic Horizon Fund portfolio summary
Baltic Horizon Fund portfolio summary The Fund is minimizing concentration risk by diversifying the client base, segment, and geographical allocation Net rental income by segment, H1 2023 Rental concentration: 10 largest tenants as of 30 June 2023 Retail 38.5% 10.3% Leisure 8.6% 4.8% 8.5% 3.9% 2.7%
Slide 6: Portfolio overview
Portfolio overview As of 30 June 2023 Direct Net initial Fair value1 NLA Property name Sector property yield yield Occupancy rate (EUR ‘000) (sq. m) Q2 20232 Q2 20233 Vilnius, Lithuania Europa SC Retail 35,747 17,051 3.8% 4.3% 83.6% North Star Office 20,368 10,579 7.0% 7.0% 98.5% Meraki Office 16,24
Slide 7: NOI development
NOI development As of 30 June 2023 Property Date of acquisition 2018 2019 2020 2021 2022 H1 2022 H1 2023 Postimaja & CC Plaza 8 March 20131 2,447 2,495 1,932 1,805 2,044 1,049 1,074 complex Galerija Centrs 13 June 2019 - 2,552 3,023 1,448 2,193 1,179 1,057 Upmalas Biroji BC 30 August 2016 1,710 1,70
Slide 8: Financial results for H1 2023
Financial results for H1 2023 Profit and loss 01.01.2023- 01.01.2022- EUR ‘000 Change (%) Key comments: 30.06.2023 30.06.2022 Rental income 10,095 10,070 0.2% – The Group recorded a net loss of EUR 15.0 million Service charge income 3,187 2,645 20.5% for H1 2023 against a net profit of EUR 4.2 milli
Slide 9: Financial results for H1 2023
Financial results for H1 2023 Financial position EUR ‘000 30.06.2023 31.12.2022 Key comments: Non-current assets Investment properties 255,734 333,123 – At the end of H1 2023, the Fund’s GAV was EUR Intangible assets 6 6 278.8 million (31 December 2022: EUR 344.0 million), Property, plant and equipm
Slide 10: Financial debt structure
Financial debt structure As of 30 June 2023 Carrying Fixed rate Property Maturity Currency amount (EUR % of total portion ‘000) (%) Galerija Centrs 26 January 2024 EUR 30,000 19.5% 100.0% CC Plaza and Postimaja 12 February 2026 EUR 16,985 11.1% 101.3% Europa SC 15 March 2024 EUR 8,400 5.5% 219.1% Up
Slide 11: Financing summary
Financing summary As of 30 June 2023 Summary of financing terms Maturity by separate loan (EUR ‘000) 59.9%* 4.2% 55 000 LTV Cost of debt 45 000 35 000 Galerija BH Bonds MEUR 25 000 22 1.5% 1.9 years Bonds MEUR 20 CC Plaza and Upmala Biroji Annual debt Weighted debt 15 000 Northstar Postimaja Vainode
Slide 12: Modern City Life Strategy
Modern City Life Strategy Potential through customer focused retail concepts • The new retail concepts responds to the needs and behaviors of the modern, urban customers. • The retail concepts are based on a ‘three-in-one’ strategy that brings together shopping, beauty and health services and leisur
Slide 13: Main focus of the Fund
Main focus of the Fund The Fund is actively introducing new concepts to the market to meet clients’ needs Completion of the first Meraki office building Several anchor tenant negotiations ongoing in Europa SC The Fund completed the first stage in the construction of the modern B-class office At the
Slide 14: The strategy execution plan
The strategy execution plan • Dispose assets where best value can be obtained today and which have limited value growth in the future. Fund continues to deleverage. • 7,5 mEUR of the bond is prepaid. Prepay remainder of the bond 12,5 mEUR by year-end with disposal proceeds. • Complete ARKET fitout a
Slide 15: Contact information
Contact information Management board message We declare that, to the best of our knowledge, the information provided in this document is accurate and that the document is not subject to any omissions that may serve to distort the picture of the document provided. Tarmo Karotam Edvinas Karbauskas Fun
Slide 16: Disclaimer
Disclaimer This material is provided to you for information purposes only. You should not rely upon it or use it to form the definitive basis for any decision, contract, commitment or action whatsoever. Northern Horizon Capital AS (NHC) has taken all reasonable care to ensure that the information co
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