Platzer Fastigheter Holding Ab Class B · OMXSTO:PLAZ_B
Platzer Fastigheter Holding Ab Class B — Q4 2023 Earnings Presentation
23 slides from Platzer Fastigheter Holding Ab Class B's earnings presentation, Jan 26, 2024
Slide 1: Q4 1 January – 31 December 2023
Q4 1 January – 31 December 2023 CEO Johanna Hult Rentsch CFO Fredrik Sjudin 26 January 2024
Slide 2: Summary – Year-end Report 2023
Summary – Year-end Report 2023 • Highest operating surplus to date– increases to over SEK 1 billion • Positive net lettings of SEK 6 million in Q4 and SEK 44 million in 2023 • Surplus ratio increases to 78% (76%) • 133,000 sq. m. of industrial/logistics space completed and occupied • Unrealized valu
Slide 3: Our focus is Gothenburg
Helsinki Our focus is Oslo Gothenburg Stockholm Gothenburg Copenhagen Education Science Port of Industry GDP growth Gothenburg innovation Platzer | 3
Slide 4: Economic activity in Gothenburg
Economic activity in Gothenburg 2024-01-26 Platzer | 4
Slide 5: Gothenburg's business life and economy
Gothenburg's business life and economy Not great, but still decent in Sweden´s economy is expected important markets to grow weakly in 2024 • Unemployment 5.7% • Exports rise - The US is doing well, Europe is doing worse • Inflation and interest rates turn down • …..bright spots for recovery 2024-01
Slide 6: Impressive growth rate for the Gothenburg region
Impressive growth rate for the Gothenburg region REAL GDP / GRP GROWTH (PERCENTAGE CHANGE IN REAL TERMS), 2009-2022 Real GDP / GRP growth (in %) 100% 90% 80% 72% 60% 44% 43% 43% 40% 31% 29% 20% 17% 0% China Gothenburg region Sweden World Stockholm region OECD USA Eurozone Source: OECD and Statistics
Slide 7: Newly produced offices - Gothenburg
Newly produced offices- Gothenburg CBD Rest of inner city Norra Älvstranden/Lindholmen Mölndal West Gothenburg Other Hisingen East Gothenburg Source: Citymark and JLL Q4 2023 2024-01-26 Platzer | 7
Slide 8: Net lettings, by quarter amounted to SEK 6 m
Net lettings, by quarter amounted to SEK 6 m Gullbergsvass 1:1 – Lilla Bommen 2024-01-26 Platzer | 8
Slide 9: Solid client base
Solid client base Top-10 tenants • Sveafjord (AB Volvo) 52 • ESS Group AB • Region Västra Götaland Remaining AVG lease period (months) 23 Revenues from • The Swedish Migration Agency public tenants (Migrationsverket) in % 34 • City of Gothenburg • DFDS Logistics Contract AB • University of Gothenbur
Slide 10: Change in operating net
Change in operating net Rental income Electricity Project Index Net 2022 Acquisition development subsidy increase movements in Rental income 2023 Sörred settled for +30 SEK m Kineum tenants 2023 and out + 1 453 SEK m +1,229 SEK m +91 SEK m -6,5 SEK m +101 SEK m +8,5 SEK m Operating surplus 2023 +1 1
Slide 11: Operating surplus per quarter and R12M, SEK m
Operating surplus per quarter and R12M, SEK m 350 1 132 300 939 923 250 200 150 318 228 230 100 50 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 Driftsöverskott, mkr Driftsöverskott R12M, mkr Operating surplus, SEK m Operating surplus R12M, SEK m 2024-01-26 Platzer | 11
Slide 12: Operating surplus per quarter and R12M, SEK m
Operating surplus per quarter and R12M, SEK m 350 1 132 300 939 923 250 200 150 318 276 100 50 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 Driftsöverskott, Operating mkr m surplus, SEK Driftsöverskott R12M,R12M, Operating surplus mkr SEK m 2024-01-26 Platzer | 12
Slide 13: Earning capacity
Earning capacity 1,600 1 600 1,400 1 400 1 200 1,200 1,000 1 000 800 600 400 200 0 2019 2020 2021 2022 2023 2024 Intjäningsförmåga Earning capacity Utfall helår Outcome all year 2024-01-26 Platzer | 13
Slide 14: Changes in the property's value Q1-Q4 2023
Changes in the property´s value Q1-Q4 2023 Starting value 1 Jan Investments Value changes Outgoing value 31 Dec Acquisition Sales 2024-01-26 Platzer | 14
Slide 15: Changes in the property's value Q1-Q4 2023
Changes in the property´s value Q1-Q4 2023 Starting value 1 Jan Investments Value changes Outgoing value 31 Dec Acquisition Sales 2024-01-26 Platzer | 15
Slide 16: Changes in the property's value Q1-Q4 2023: gross unrealized changes
Changes in the property´s value Q1-Q4 2023 Gross unrealized changes in value Investments Vf project development Vf yield Acquisition Vf cash flow Sales Outgoing value 31 Dec Starting value 1 Jan 2024-01-26 Platzer | 16
Slide 17: Key performance indicators
Key performance Indicators Outgoing average interest rate including pledges Q1–Q4 Q1–Q4 2023 2022 Financial Debt/equity ratio (multiple) 1.2 0.8 Interest coverage ratio (multiple) 2.2 3.6 Loan-to-value ratio, % 49 44 Equity/assets ratio, % 42 47 Räntetäckningsgrad Interest coverage ratioR12M, ggr R1
Slide 18: Financing
Financing Platzers loan maturity within 2 years 65% sustainable financing 2500 2000 1500 65% SUSTAINABLE FINANCING 1000 500 0 Inom 3 m within 3-6 m 6-9 m 9-12 m 12-15 m 15-18 m 18-21 m 21-24 m Bank Capital market Kapitalmarknad Bank Capital market 2024-01-26 Platzer | 18
Slide 19: Sustainability
Sustainability Energy consumption (kWh/sq.m.) CO2 emissions CO2 Recycling hub Rebygg initiated (kg CO2e/sq.m. scope 1 & scope 2) 117 1.2 kWh/ CO2 sq.m. 74.9 70 kWh/ kWh/ sq.m. sq.m. 0.31 0 CO2 CO2 2013 2023 Goal 2013 2023 Goal 2025 2025 A decrease of 9% A decrease of 23% against 2022 (82.5) against
Slide 20: Gårda, Gamlestaden, Lilla Bommen, Arendal/Torslanda
Gårda Gamlestaden Lilla Bommen Arendal/Torslanda 2024-01-26 Platzer | 20
Slide 21: MIMO – upcoming investment
MIMO – upcoming investment • Mölndal-strong growth municipality • Seller: NCC, part of combination deal Kineum 2017 • Preliminary entry Q4 2024 • Approx. 60% leased • Kappahls HQ 2024-01-26 Platzer | 21
Slide 22: Success factors
Success factors Experts of Customer Our plan for Gothenburg focus growth Diversified Committed Stable portfolio employees financing Platzer | 22
Slide 23: We aim to make Gothenburg the best city in Europe to work in.
We aim to make Gothenburg the best city in Europe to work in. Platzer | 23
Platzer Fastigheter Holding — Q4 2023 Earnings Presentation on 6ix