Annehem Fastigheter Ab Class B · OMXSTO:ANNE_B
Annehem Fastigheter Ab Class B — Q4 2024 Earnings Presentation
33 slides from Annehem Fastigheter Ab Class B's earnings presentation, Feb 13, 2025
Slide 1: Annehem Fastigheter Year-end Report January - December 2024
Q4 Annehem Fastigheter Year-end Report January - December 2024
Slide 2: High level of business activity and essential transition
Q4 High level of business activity and essential transition January - December1 Significant events during the fourth quarter • Rent revenue for the period increased to SEK 275.0 million • Annehem Fastigheter implemented successful refinancing, (247.2) resulting in lower marginal costs and increase le
Slide 3: Summary of the Group's performance
Q4 Summary of the Group’s performance Oct-Dec Oct-Dec Full year Full year Summary of the Group’s performance, SEK million 2024 2023 2024 2023 Rent revenue 68.4 60.9 275.0 247.2 Net operating income 56.6 51.5 231.6 209.7 Income from property management 22.0 27.1 91.7 90.5 Income from property managem
Slide 4: CEO's comments
CEO’s comments I look back on 2024 with pride. Annehem has had a successful year, with high activity and significant progress, making us well positioned for continued sustainable and profitable growth in the new macroeconomic situation that exists in the world around us. We have strengthened our platf
Slide 5: CEO's comments (continued): the property market is transitioning
agreements in previous bank consortiums, and strengthened cash flow. At the same time, the total loan portfolio increased by SEK 95.7 million 2, which will be used to acquire the property in Malmö. The property market is transitioning In the wake of interest rate cuts and stable return requirements,
Slide 6: This is Annehem
Q4 This is Annehem Annehem is a property company in growth. We create attractive properties that are sustainable over the long term, where our tenants develop and thrive. We work systematically to increase the sustainability performance of our entire portfolio. Our modern properties make up the majo
Slide 7: Market
Q4 Market Comments on the business environment Geopolitical tensions continued to dominate during the fourth quarter of the year, with Russia's ongoing invasion of Ukraine and developments following the US presidential election as prominent factors. In parallel, despite the current recession, the gl
Slide 8: Comments on the Group's performance
Q4 Comments on the Group’s performance Income statement Net operating income per January to December quarter, SEK million Rent revenue amounted to SEK 275.0 million (247.2), other property income to SEK 50.0 million (44.9), and 70 total property expenses to SEK -93.3 million (-82.3), meaning that ne
Slide 9: Balance sheet and cash flow statement comments
Q4 Balance sheet The value of the Company’s investment properties as of 31 December 2024 amounted to SEK 4 696.8 million (4 412.7). Of the total value, SEK 2.0 million related to the effect of the lease value of leasehold rights in the Kamaxeln 2 property. During the period January - December, Annehe
Slide 10: Sustainable development
Q4 Sustainable development We work systematically in pursuit of our vision to be the most sustainable property company in the Nordics. This entails us combining profitability and sustainability in our daily property operations and investment decisions. We do this through sustainable acquisitions, ene
Slide 11: Sustainability targets and follow-up
Q4 Measurable progress Q4 2024 (compared with outcome for full year 2023) • 44 percent (35) of income is from green leases1 (applies to Swedish operations) • 82 percent (82) of the property value is environmentally certified • 85 percent (75) of the property value is sustainable (according to the EU
Slide 12: Our properties
Q4 Our properties As of 31 December 2024, Annehem Fastigheter owned assets in the form of properties at a fair value of Specification of income 2024 SEK 4 696.8 million. All properties are 100-percent owned by the Company. The properties comprise for the most part of modern and sustainable commercial
Slide 13: Property valuations and current earnings capacity
Q4 Property valuations The fair value is determined on a quarterly basis in collaboration with the Company's contracted external property valuation institute. At least once a year, Annehem enlists an external property valuation institute to carry out complete valuations of all properties in the port
Slide 14: Financing
Q4 Financing Summary of the Company’s financing situation At the end of the fourth quarter, interest-bearing liabilities amounted to SEK 2 197.9 million (2 036.3), increasing compared to the previous year due to the financing of additional acquisitions, as well as the refinancing which the Company carr
Slide 15: Fixed-interest structure and financial key figures
Q4 Fixed-interest structure SEK million 2 500 200 2 205 388 2 000 150 712 1 500 1 000 710 45 500 0 Within a 1-2 years 2-3 years 3-4 years 4-5 years 5-6 years 6-7 years Total year Summary of financial key figures SEK million 2024-12-31 2023-12-31 Interest bearing debt 2,197.9 2,036.3 Unused facility -
Slide 16: Other information: the Company's shareholders
Q4 Other information The Company’s shareholders Shareholders Numbers of shares Capital, % Votes, % 1 Ekhaga utveckling AB 21,130,923 23.9 49.8 Mats och Fredrik Paulsson med familjer 5,204,901 5.9 11.3 Volito AB 4,915,597 5.6 5.0 PriorNilsson Fonder 4,543,581 5.1 2.5 Mats Paulssonstiftelserna 4,492,7
Slide 17: Assurance of the CEO
Q4 Assurance of the CEO The CEO gives assurance that the interim report provides a true and fair overview of the development of the Parent Company’s and the Group’s operations, their financial position and performance, and describes material risks and uncertainties facing the Parent Company and other
Slide 18: Consolidated income statement
Q4 Consolidated income statement Oct-Dec Oct-Dec Full year Full year SEK million 2024 2023 2024 2023 Rent revenue 68.4 60.9 275.0 247.2 Other property income 11.6 8.5 50.0 44.9 Total income 80.0 69.4 324.9 292.1 Property expenses Operating costs -14.3 -11.9 -54.6 -47.5 Maintenance costs -2.4 -2.7 -1
Slide 19: Consolidated balance sheet
Q4 Consolidated balance sheet SEK million 2024-12-31 2023-12-31 ASSETS Fixed assets Intangible fixed assets 0.1 0.2 Investment properties 4,696.8 4,412.7 Equipment and machinery 5.5 6.2 Derivative instrument 22.7 33.3 Other fixed assets 1.5 1.4 Total fixed assets 4,726.6 4,453.9 Current assets Accou
Slide 20: Consolidated cash flow statement and changes in equity
Q4 Consolidated cash flow statement Oct-Dec Oct-Dec Full year Full year SEK million 2024 2023 2024 2023 Income from property management 22.0 27.1 91.7 90.5 Items not affecting cash flow Depreciation 0.0 0.9 0.4 0.9 Unrealised currency effects -2.3 8.4 -6.2 7.6 Other non-cash items -3.8 6.1 -0.6 1.9 I
Slide 21: Parent Company income statement
Q4 Parent Company income statement Oct-Dec Oct-Dec Full year Full year SEK million 2024 2023 2024 2023 Revenue 12.5 -1.3 47.5 46.1 Administration costs -15.0 -11.2 -43.0 -40.3 Operating result -2.5 -12.6 4.5 5.8 Financial items Financial net 32.0 31.4 120.8 94.4 Result after financial items 29.4 18.
Slide 22: Parent Company balance sheet
Q4 Parent Company balance sheet SEK million 2024-12-31 2023-12-31 ASSETS Fixed assets Intangible fixed assets 0.1 0.2 Equipment and machinery 1.0 3.2 Financial fixed assets Shares in Group companies 136.4 116.1 Long-term receivables, Group companies 2,470.5 2,134.0 Derivative instruments - 26.3 Defe
Slide 23: Parent Company cash flow statement
Q4 Parent Company cash flow statement Oct-Dec Oct-Dec Full year Full year SEK million 2024 2023 2024 2023 Result before tax 36.9 7.0 132.7 88.3 Items not affecting cash flow Depreciations 0.1 0.0 0.6 0.4 Unrealised currency effects -3.6 12.9 9.8 10.8 Other items not affecting cash flow 8.3 0.0 8.4 -1
Slide 24: Notes
Q4 Notes NOTE 1 BASIS OF PREPARATION AND ACCOUNTING PRINCIPLES The interim report is prepared in accordance with the EU-adopted IFRS reporting standards and the EU- adopted interpretations of applicable standards, IFRIC Interpretations. This consolidated interim report was prepared in accordance wit
Slide 25: Notes 3 and 4: segments and revenue from contracts
Q4 NOTE 3 SEGMENTS Annehem Fastigheter’s operations consist of two operating segments and are organisationally divided into two different segments: 1. Sweden Region, including Stockholm, Malmö, Ljungbyhed, Ängelholm, Gothenburg and Helsingborg 2. Rest of Nordics Region, including Helsinki (comparativ
Slide 26: Related party transactions and translation effects
Q4 NOTE 6 TRANSACTIONS WITH RELATED PARTIES The Company is a related party to Peab AB, through the companies' common largest shareholder. Shares are held directly and indirectly by Ekhaga Utveckling AB. As of 31 December 2024, Fredrik Paulsson controlled more than 50 percent of the votes in Ekhaga U
Slide 27: Financial key figures
Q4 Financial key figures Number of shares Oct-Dec Oct-Dec Full year Full year Number of shares1 2024 2023 2024 2023 A-shares 10,295,986 6,863,991 10,295,986 6,863,991 B-shares 78,192,835 52,128,557 78,192,835 52,128,557 Total number of shares 88,488,821 58,992,548 88,488,821 58,992,548 Total average
Slide 28: Net loan-to-value ratio, surplus ratio, return on equity
Q4 Net loan-to-value ratio SEK million 2024-12-31 2023-12-31 Interest-bearing liabilities 2,197.9 2,036.3 Cash and cash equivalents -279.5 -119.4 Net interest-bearing liabilities 1,918.4 1,916.9 Investment properties 4,696.8 4,412.7 Net loan-to-value ratio, % 40.8% 43.4% Surplus ratio Oct-Dec Oct-De
Slide 29: EPRA key figures
Q4 EPRA key figures Reporting standard To enable stakeholders and shareholders to compare and evaluate Annehem's operations in a more transparent and accurate manner, we report key figures and information in accordance with EPRA BPRs (European Public Real Estate Association Best Practices Recommendat
Slide 30: EPRA Earnings and EPRA Loan To Value
Q4 EPRA Earnings The EPRA earnings figure is a performance measure for the property portfolio. EPRA earnings are based on the income statement, adjusted for income from associated companies, changes in value from investment properties, changes in value of the market value of financial instruments, and
Slide 31: EPRA Vacancy and EPRA Cost Ratios
Q4 EPRA Vacancy EPRA Vacancy is the market’s Estimated Rental Value (ERV) for vacant spaces divided by the estimated market rent for the entire property portfolio. SEK million 2024-12-31 2023-12-31 Rental value 331.0 315.7 Estimated rental value of vacant premises 27.9 16.7 EPRA Vacancy rate 8.4% 5.
Slide 32: Glossary and definitions
Q4 Glossary and definitions Return on equity Profit for the period in relation to equity for the period. Purpose: The key figure shows the return generated on the capital attributable to the shareholders. Gross rent Gross rent is defined as rent revenue on an annual basis, excluding surcharges and disco
Slide 33: Contacts
Q4 Contacts MONICA FALLENIUS, CEO Phone: +46 702 09 01 14 E-mail: monica.fallenius@annehem.se ADELA COLAKOVIC, CFO Phone: +46 732 51 47 09 E-mail: adela.colakovic@annehem.se Annehem Fastigheter AB Corp. ID No: 559220-9083 Address: Drottning Kristinas Esplanad 12 170 67 Solna Sweden info@annehem.se A