Dios Fastigheter Ab · OMXSTO:DIOS
Dios Fastigheter Ab — Q4 2024 Earnings Presentation
18 slides from Dios Fastigheter Ab's earnings presentation, Feb 14, 2025
Slide 1: Q4 2024 Year-end Report 2024
Q4 2024 Year-end Report 2024
Slide 2: Speakers
Intro Operation Portfolio Financing Outlook Speakers David Carlsson, CEO Rolf Larsson, CFO Johan Dernmar, CIRO CEO since 2025 CFO since 2005 Chief Investor Relations Officer since 2023 (in the Shareholdings 6,225 Shareholdings 14,000 company since 2015) Shareholdings 7,255 2025-02-14 │ Q4 2024 Earni
Slide 3: Summary October - December 2024
Intro Operation Portfolio Financing Outlook Summary October - December 2024 • Economic occupancy at 91% by the end of 4Q24 vs 93% at 4Q23 – due to asset divestments Operational 1 development • Income was SEK 632m 4Q24 compared to SEK 646 4Q23 - due to asset divestments and one-offs • Surplus ratio w
Slide 4: Significant events
Intro Operation Portfolio Financing Outlook Significant events Transactions Finalized new production Governance and dividend 2025-02-14 │ Q4 2024 Earnings call 4
Slide 5: Solid underlying operational performance
Intro Operation Portfolio Financing Outlook Solid underlying operational performance 2024 2023 2024 2023 SEKm ∆% Oct-Dec Oct-Dec Jan-Dec Jan-Dec 1 • Rental income LfL was 1.6%. Total income 1 632 646 -2 2,527 2,504 • Transactions reduces income by approx. SEK 24m. • Occupancy rate was 91% affected b
Slide 6: Good income diversification
Intro Operation Portfolio Financing Outlook Good income diversification Rental value, type of premises Rental growth 7% 3%5% Office 1.6% 646 Like-for-like rental growth 7% Retail 633 -24 12 -12 11 Hotel/ restaurants 9% 55% Residential 94% Of commercial lease contracts have 14% Health care/ education
Slide 7: Solid net letting track record and low tenant concentration risk
Intro Operation Portfolio Financing Outlook Solid net letting track record and low tenant concentration risk • Net letting amounts to SEK 10m for 4Q24 • 7 out of 10 largest tenants are businesses in the national, regional or local government sectors • Positive net letting 22 of 24 latest quarters •
Slide 8: Yield expansion largely offset by rental growth
Intro Operation Portfolio Financing Outlook Yield expansion largely offset by rental growth SEKm No of properties SEK Portfolio book value by 5,609m Property portfolio, 1 Jan 31,215 359 Business area SEK 2,468m Acquisitions 1,101 9 SEK 4,824m Investments in new builds, extensions and 930 SEK convers
Slide 9: Sensible investment criteria form basis for accretive growth
Intro Operation Portfolio Financing Outlook Sensible investment criteria form basis for accretive growth • Major projects are built with no speculation • All new projects are built according to BREEAM, at least level “very good”, - Tenant: Social Insurance Agency 20% to BBR (national law) and Life-c
Slide 10: Prudent interest rate management
Intro Operation Portfolio Financing Outlook Prudent interest rate management Financing sources • Average cost of debt lower than marginal cost of debt 16% Bank loan • Committed to keep ICR ≥ 2.0 and LTV <55% long-term 8% SFF bond • Restructuring of derivatives 7% • Improved margins and good liquidit
Slide 11: Conservative balance sheet approach
Intro Operation Portfolio Financing Outlook Conservative balance sheet approach Loan-to-value <55%* Net debt / EBITDA <10 Interest cover ratio ≥2.0 70 13 7,0 Policy <65% 65 12 6,5 60 11 6,0 Target <55%* 55 10 5,5 50 5,0 9 45 4,5 8 40 4,0 7 35 3,5 6 30 3,0 Policy >1.8x 5 25 2,5 4 20 2,0 15 3 1,5 10 2
Slide 12: Great conditions for long-term growth
Intro Operation Portfolio Financing Outlook Great conditions for long-term growth • Hydropower • Windpower • Green steel production • Available land • Electro fuel • Cold climate • Forestry • Solid governing structure • Data centres • NATO membership • Military • Attractive 15-min cities 2025-02-14
Slide 13: Population growth
Index 1970=100 75 100 125 150 175 200 1970 1971 Intro 1972 1973 1974 2025-02-14 │ Q4 2024 Earnings call 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 Operation 1986 1987 1988 1989 1990 1991 Population growth 1992 1993 1994 1995 1996 1997 1998 13 1999 Portfolio 2000 2001 2002 2003 2004 2005
Slide 14: Solid starting point
Intro Operation Portfolio Financing Outlook Solid starting point Regional GDP-growth Unemployment 114 Mid Sweden 7 112 Swedish average 6 North Sweden 110 5 108 4 106 3 104 102 2 100 1 2020 2021 2022 2023E 2024E 2025E West sweden South Sweden Småland & Gotland 0 Stockholm Mideast Sweden Mid north Swe
Slide 15: Rental market
Intro Operation Portfolio Financing Outlook Rental market Office rental development in our portfolio 2 600 14 • Rising market rents 2 400 12 • Back to office-trend 2 200 10 • Increased activity within tenant adaption 2 000 8 • Local presence and size gives competitive advantage 1 800 6 1 600 4 1 400
Slide 16: Outlook
Outlook 16 2025-02-14 │ Q4 2024 Earnings call
Slide 17: Q&A
Q&A 17 2025-02-14 │ Q4 2024 Earnings call
Slide 18: Thank you!
Thank you! Contact Johan Dernmar Chief Investor Relations Officer +4610-470 95 20 johan.dernmar@dios.se 18 2025-02-14 │ Q4 2024 Earnings call