Baltic Horizon Fund · OMXTSE:NHCBHFFT
Baltic Horizon Fund — Q3 2022 Earnings Presentation
21 slides from Baltic Horizon Fund's earnings presentation, Nov 16, 2022
Slide 1: Baltic Horizon Fund Q3 Webinar
Baltic Horizon Fund Q3 Webinar 16 November 2022
Slide 2: Notable events for the Fund in Q3 2022
Notable events for the Fund in Q3 2022 Food is the new fashion! The Standard and Poor’s rating has Baltic Horizon Fund has received a During Jan-May 2022, the Group reconstruction works in Europa remained unchanged. On 22 April 4-star rating from the Global Real successfully extended its Europa have
Slide 3: Portfolio performance
Portfolio performance As of 30 September 2022 Direct property Net initial Fair value1 NLA Property name Sector yield yield Occupancy rate (EUR ‘000) (sq. m) Q3 20222 Q3 20223 Vilnius, Lithuania Duetto I Office 18,525 8,587 8.1% 6.6% 97.6% Duetto II Office 20,284 8,674 7.4% 6.7% 100.0% Europa SC Reta
Slide 4: NOI development
NOI development As of 30 September 2022 Q1-Q3 Q1-Q3 Property Date of acquisition 2017 2018 2019 2020 2021 2021 2022 Galerija Centrs 13 June 2019 - - 2,552 3,023 1,448 1,301 1,632 Postimaja & CC Plaza 8 March 20131 985 2,447 2,495 1,932 1,805 1,369 1,608 complex Upmalas Biroji BC 30 August 2016 1693
Slide 5: 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-Q3 2022 Rental concentration: 10 largest tenants as of 30 September 2022 Estonia 22,6% 10.4% 6.5% Lithuania 38,0% 5.8
Slide 6: Portfolio main events Q2-Q3 2022
Baltic Horizon Portfolio main events Q2-Q3 2022 – Decision regarding change of PMA partner in EUROPA is approved. New PMA partner in EUROPA – Newsec Property Management, UAB as of 1 November 2022. – Signed essential leasing deals, HOTs, get location approvals, opened tenants: expanded Sportland in G
Slide 7: Fund's development projects: Meraki
Baltic Horizon Fund’s development projects Developments in Lithuania Meraki – The Fund completed the first stage in the construction of the modern B-class office building Meraki in September 2022. Two Meraki office towers with an approx. 15,800 sq. m of leasable office space will be developed in two
Slide 8: Fund's development projects: Meraki
Baltic Horizon Fund’s development projects Developments in Lithuania Meraki Outside Staircase Ev charging stations 8
Slide 9: Fund's development projects: Meraki
Baltic Horizon Fund’s development projects Developments in Lithuania Meraki Lobby area Conference room Lobby area 9
Slide 10: Developments in Lithuania & Latvia
Baltic Horizon Fund’s development projects Developments in Lithuania & Latvia Completed Under construction Europa, Vilnius Galerija Centrs, Riga – The first stage of reconstruction works was completed with – The Fund approved the refreshed concept of the food hall the opening of the fully leased out
Slide 11: Developments in Lithuania, Europa
Baltic Horizon Fund’s development projects Developments in Lithuania, Europa 11
Slide 12: Developments in Latvia, Galerija Centrs
Baltic Horizon Fund’s development projects Developments in Latvia, Galerija Centrs 12
Slide 13: Financial summary
Financial summary The Fund aims to grow through making attractive investments for its investors while diversifying its risks geographically, across real estate segments, tenants, and debt providers. EUR 1.1345 EUR 1.2071 EUR 1.1082 EUR 1.1884 IFRS NAV per unit, 30.09.2022 EPRA NRV1 per unit, 30.09.2
Slide 14: Financial results for Q1-Q3 2022
Financial results for Q1-Q3 2022 Profit and loss Key comments: EUR ‘000 Q1-Q3 2022 Q1-Q3 2021 Change (%) – The Group recorded a net profit of EUR Rental income 15,422 14,844 3.9% 6.1 million for Q1–Q3 2022 against a net loss of EUR 6.9 million for Q1-Q3 2021. Service charge income 4,007 3,697 8.4% T
Slide 15: Financial results for Q1-Q3 2022: Financial position
Financial results for Q1-Q3 2022 Financial position EUR ‘000 30.09.2022 31.12.2021 Investment properties 338,638 315,959 Key comments: Investment property under construction - 11,400 9 – At the end of Q3 2022, the Fund’s GAV Intangible assets 7 was EUR 349.2 million (31 December Property, plant and
Slide 16: Financial debt structure
Financial debt structure As of 30 September 2022 Carrying amount Property Maturity % of total Fixed rate portion (EUR’000) Galerija Centrs 26 January 2024 30,000 15.1% 100.0% Europa SC 15 March 2024 17,900 9.0% 102.8% CC Plaza and Postimaja 12 February 2023 17,200 8.7% 100.0% Duetto I and II 31 Marc
Slide 17: Financing summary
Financing summary As of 30 September 2022 Summary of financing terms Maturity by separate loan (EUR ‘000) 55 000 BH Bonds MEUR 58.6% 2.8% 45 000 50 LTV Cost of debt 35 000 Galerija 25 000 CC Plaza and Postimaja Europa 0.3% 1.0 years 15 000 Lincona Duetto II Upmala Biroji Domus Pro LNK Vainodes Annua
Slide 18: Dividend payment
Dividend payment GNFC and paid-out dividend, 2016-Q3 2022, TEUR 4 000 3 500 3 000 2 500 Generated net cash 2 000 flow 1 500 CAPEX 1 000 500 Paid-out dividend 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2016 2017 2018 2019 2020 2021 2022 .* Cash distributions for Q3 2
Slide 19: Contact information
Contact information Management board message Tarmo Karotam 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. +372 50 89 044 Tarmo.K
Slide 20: 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
Slide 21: Northern Horizon
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