Baltic Horizon Fund · OMXTSE:NHCBHFFT
Baltic Horizon Fund — FY2021 Earnings Presentation
19 slides from Baltic Horizon Fund's earnings presentation, February 2022
Slide 1: Baltic Horizon Fund Webinar February 2022
Baltic Horizon Fund Webinar February 2022
Slide 2: 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 3: Notable events for the Fund
Notable events for the Fund On 12 May 2021, BH Meraki UAB Standard and Poor’s rating has The Fund has selected CBRE Baltics as Baltic Horizon Fund sold G4S office completed an oversubscribed private remained unchanged. On 12 April its main partner for property building. On November 8th 2021, the pla
Slide 4: 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 1.1395 EUR 1.2219 EUR 1.1082 EUR 1.1884 IFRS NAV per unit, 31.12.2020 EPRA NRV1 per unit, 31.12.2
Slide 5: Financial results for Q1-Q4 2021: profit and loss
FINANCIAL RESULTS FOR Q1-Q4 2021 PROFIT AND LOSS Key comments: EUR ‘000 Q1-Q4 2021 Q1-Q4 2020 Change (%) – In Q1-Q4 2021, the Group earned Rental income 19,495 21,697 (10.2%) net rental income of EUR 17.0 4,901 4,990 (1.8%) million, a decrease of 14.7% Service charge income compared to the net renta
Slide 6: Financial results for Q1-Q4 2021: financial position
FINANCIAL RESULTS FOR Q1-Q4 2021 FINANCIAL POSITION Key comments: EUR ‘000 31.12.2021 31.12.2020 – At the end of December 2021, the Investment properties 315,959 334,518 Fund’s GAV was EUR 346.3 million Investment property under construction 11,400 5,474 (31 December 2020: EUR 355.6 Intangible asset
Slide 7: Portfolio valuations
PORTFOLIO VALUATIONS Fair value Fair value Change Change EUR ‘000 31.12.2021 31.12.2020 (EUR '000) (%) Key comments: Like-for-like assets – The like-for-like value of the Retail 162,876 166,667 (3,791) (2.3%) property portfolio excluding Office 138,641 137,521 1,120 0.8% developments decreased by EU
Slide 8: Financial debt structure
FINANCIAL DEBT STRUCTURE AS OF 31 DECEMBER 2021 Carrying amount Property Maturity % of total Fixed rate portion (EUR’000) Galerija Centrs 26 May 2022 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%1 Duetto I and II 31 March 20
Slide 9: Debt extension status
DEBT EXTENSION STATUS AS OF 31 DECEMBER 2021 Carrying amount Property Type Bank Maturity Extension status EUR‘000 Galerija Centrs Shopping center OP LV 30,000 26 May 2022 To be extended in 1Q 2022 Meraki Bonds MEUR 4 - - 4,000 19 November 2022 Lincona Office SEB EE 7,188 31 December 2022 Subtotal 41
Slide 10: Dividend payment
Dividend payment The Fund holds a total dividend reserve of EUR 6.1 million from the pandemic period GNFC and paid-out dividend, 2017-H12021, TH EUR 4000 3000 Generated net cash flow 2000 1000 CAPEX 0 Paid-out dividend Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2016 2017 2018
Slide 11: 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 10 largest tenants (of ca 230 tenants) via annualized rental Geographical and segment allocation via annualized income net rental income Estonia Rimi
Slide 12: Baltic Horizon Fund's portfolio (1/3)
Baltic Horizon Fund’s portfolio (1/3) Property portfolio in Vilnius, Lithuania Duetto I Duetto II Domus Pro Type Office Type Office Type Office/retail Rentable area 8,587 Rentable area 8,674 Rentable area 16,057 Occupancy 100% Occupancy 100% Occupancy 99.7% NOI, EUR M1 1.2 NOI, EUR M 1.4 NOI, EUR M
Slide 13: Baltic Horizon Fund's portfolio (2/3)
Baltic Horizon Fund’s portfolio (2/3) Property portfolio in Riga, Latvia Upmalas Biroji BC Vainodes I LNK Centre Type Office Type Office Type Office Rentable area 10,459 Rentable area 8,052 Rentable area 7,452 Occupancy 100% Occupancy 100% Occupancy 100% NOI, EUR M 1.7 NOI, EUR M 1.4 NOI, EUR M 1.1
Slide 14: Baltic Horizon Fund's portfolio (3/3)
Baltic Horizon Fund’s portfolio (3/3) Property portfolio in Tallinn, Estonia Postimaja SC Coca-Cola Plaza Type Retail Type Cinema Rentable area 9,145 Rentable area 8,664 Occupancy 93.9% Occupancy 100% NOI, EUR M 1.81 NOI, EUR M 1.81 Fair value, EUR M 29.8 Fair value, EUR M 14.4 PMC CBRE PMC CBRE Maj
Slide 15: New Europa in Vilnius
New Europa in Vilnius Foodhall concept finished 15
Slide 16: Plans for 2022-2024
Plans for 2022-2024 o Finish of 1st stage Europa reconstruction (food hall and 1st floor upgrade) o Capital investments into Galerija Centrs food hall in 2022 o Continuation of Postimaja reconstruction project in 2022-2023 o New quality acquisitions in office or logistics segment o Enhancing sustain
Slide 17: Exchange market overview
Exchange market overview Unit price not yet recovered from lockdowns Baltic Horizon has become one of the most liquid equities in the Baltic stock market Comments 01 The unit price at the Nasdaq Tallinn Stock Exchange 02 Prior to the pandemic the trading volumes on stock 03 Net assets value per unit
Slide 18: 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 19: Northern Horizon
N KA NORTHERN HORIZON