Baltic Horizon Fund · OMXTSE:NHCBHFFT
Baltic Horizon Fund — Q4 2022 Earnings Presentation
17 slides from Baltic Horizon Fund's earnings presentation, February 2023
Slide 1: Q4 Webinar Baltic Horizon Fund
Q4 Webinar Baltic Horizon Fund
Slide 2: Notable events for the Fund
Notable events for the Fund On 30 December 2022, Baltic Horizon Edvinas Karbauskas was elected as a In Q4 2022, Baltic Horizon launched a During 2022 and in the beginning of Fund signed a real estate sale and new member of the management brand-new website. Compared to the 2023, the Group successfull
Slide 3: Europa parking house disposal
Europa parking house disposal On 30 December 2022, Baltic Horizon Fund signed a real estate sale and purchase agreement with UAB Prime Location Property Fund, closing the deal for selling its share in the parking house of Europa Shopping Centre which was previously co-owned with the purchaser. The s
Slide 4: Disposal of Domus PRO Retail & Office
Disposal of Domus PRO Retail & Office On 9 February 2023, the Fund signed an agreement with UAB PREF III to sell 100% shares of BH Domus PRO UAB which owns Retail park and Office building in Vilnius, Lithuania. The proceeds of the transaction will be used mainly to decrease the loan obligations of t
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, Q1-Q4 2022 Rental concentration: 10 largest tenants as of 31 December 2022 Estonia 21.9% 10.4% 6.5% Lithuania 38.6% 6.1%
Slide 6: Portfolio performance
Portfolio performance As of 31 December 2022 Direct property Net initial Fair value1 NLA Property name Sector yield yield Occupancy rate (EUR ‘000) (sq. m) Q4 20222 Q4 20223 Vilnius, Lithuania Duetto I Office 18,845 8,587 8.0% 6.5% 97.6% Duetto II Office 20,253 8,674 7.9% 7.2% 100.0% Europa SC Retai
Slide 7: NOI development
NOI development As of 31 December 2022 Property Date of acquisition 2017 2018 2019 2020 2021 2022 Galerija Centrs 13 June 2019 - 2,552 3,023 1,448 2,193 Postimaja & CC Plaza complex 8 March 20131 985 2,447 2,495 1,932 1,805 2,044 Upmalas Biroji BC 30 August 2016 1,693 1,710 1,701 1,661 1,740 1,763 V
Slide 8: Baltic Horizon Fund's development projects
Baltic Horizon Fund’s development projects Developments in Latvia Galerija Centrs – The Fund approved the refreshed concept of the food hall on the 4th floor of the Galerija Centrs at the beginning of 2022. – The construction works started on 21 September 2022. – During Q2-Q3 2022 the trademark “BUR
Slide 9: Baltic Horizon Fund's development projects
Baltic Horizon Fund’s development projects Developments in Estonia CC Plaza and Postimaja – The first stage of the reconstruction project – the construction of a terrace for Reval Café, which was separated from the overall project and started earlier, was completed and transferred to the tenant in Q
Slide 10: Financial results for Q1-Q4 2022
Financial results for Q1-Q4 2022 Profit and loss EUR ‘000 2022 2021 Change (%) Key comments: Rental income 20,482 19,495 5.1% – In 2022, the Group recorded a net profit of EUR 3.9 million against EUR 1.4 million for 2021. Service charge income 5,974 4,901 21.9% Cost of rental activities (9,026) (7,3
Slide 11: Financial results for Q1-Q4 2022
Financial results for Q1-Q4 2022 Financial position EUR ‘000 31.12.2022 31.12.2021 Key comments: Non-current assets Investment properties 333,123 315,959 – At the end of Q4 2022, the Fund’s GAV was Investment property under construction - 11,400 EUR 344.0 million (31 December 2021: EUR Intangible as
Slide 12: Financial debt structure
Financial debt structure As of 31 December 2022 Carrying amount Fixed rate portion Property Maturity Currency % of total (EUR ‘000) (%) Galerija Centrs 26 January 2024 EUR 30,000 15.4% 100.0% Duetto I and II 31 March 2028 EUR 19,247 9.9% -% CC Plaza and Postimaja 12 February 2026 EUR 17,200 8.8% 100
Slide 13: Financing summary
Financing summary As of 31 December 2022 Summary of financing terms Maturity by separate loan (EUR ‘000) 58.4% 3.0% 55 000 BH Bonds MEUR 50 LTV Cost of debt 45 000 35 000 Galerija 25 000 Europa Domus Pro CC Plaza and Duetto I Upmala Biroji 0.7% 1.8 years 15 000 Postimaja Duetto II Vainodes Annual de
Slide 14: Outlook for 2023
Outlook for 2023 • Heavy focus on releasing to increase Fund’s WAULT • The Fund is targeting to reduce the leverage to approx. 50-55% after the refinancing activities: use the proceeds of disposals to partially redeem the current bonds. The remaining amount of current bonds is planned to be redeemed
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 Baltic Horizon Fund Fu
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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