33 slides from Corem Property Group Ab Class A's earnings presentation, Jul 13, 2022
Slide 1: Interim Report Q2 2022
Interim Report Q2 2022 2022-07-13 1
Slide 2: We own, manage and develop properties for the future
We own, manage and develop properties for the future 2
Slide 3: Corem Property Group
Corem Property Group Corem is a leading commercial real estate company, focusing on urban and growth regions. In close dialogue with customers, we help create solutions that contribute to efficiency, profitability and mutual growth. The portfolio is geographically well focused and managed through lo
Slide 4: Key figures: properties, lettable area, occupancy
479 81,088 367 Properties Property value, SEKm No of employees 3,288 4,916 21 Lettable area, tsq.m. Rental value, SEKm No of office locations 90 29.73 Economic occupancy NAV per ordinary share of rate in the investment Class A/B, SEK portfolio, % 4
Slide 5: Property portfolio
Property portfolio 5
Slide 6: A portfolio focused on major cities and growth regions
A portfolio focused on major cities and growth regions SEKm 35 000 30 000 25 000 40% 10% 10% Stockholm Gothenburg Copenhagen 20 000 15 000 10 000 5 000 – 6
Slide 7: Lettable area by city
Stockholm 1,180 tsq.m. Gothenburg 440 tsq.m. Copenhagen 160 tsq.m. New York Västerås 280 tsq.m. Malmö 320 tsq.m. Linköping 290 tsq.m. Uppsala 130 tsq.m. Norrköping 190 tsq.m. Nyköping 110 tsq.m. Jönköping 100 tsq.m. Kalmar 100 tsq.m. 7
Slide 8: Property types that complement each other
Property types that complement each other PROPERTY VALUE LETTABLE AREA BY PROPERTY TYPE BY TYPE Other 11% Other 11% Office 61% Office 42% Retail 6% Retail 10% Logistics 22% Logistics 37% 8
Slide 9: Tenants and contract maturity
CONTRACT MATURITY 4,000 4,916 SEKm 1800 No. of tenants Rental value, SEKm 1600 1400 3.9 1,495 1200 1000 Average remaining Rental value, lease term, years SEK per sq.m. 800 600 90 400 Economic occupancy rate 200 in the investment portfolio, % 0 2022 2023 2024 2025 2026- 9
Slide 10: Attractive customer mix
10 Attractive customer mix Baxter PENS). (zzz) postnord instabox | CODAN Ericsson Bf Linksping martinkservera — Swedbank@ = = bring asrenis tat I¢ ST Engineering Aerospace WURTH GROUP [TeENEnarygg Matftemse- @ruxincron Attendo@@Q — t) NOVARTIS GS din matbutik pa natet — . (ira) BEVEGO _abisell ool.
Slide 11: Net letting
Net letting Net letting totalled SEK 117 million* over the last four quarters and SEK 13 million for Q2 2022. 140 120 117 SEKm NET LETTING, Trailing 12 months 100 80 13 60 40 20 SEKm 0 NET LETTING , Q2 2022 -20 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2018 2019 2020 2021 Nettouthyrning
Slide 12: Transactions
“Transactions during the year mainly consist of divestments made in order to concentrate the portfolio – geographically and regarding property types.” Transactions 12
Slide 13: Property transactions 2022
Property transactions 2022 -85 14 NO OF PROPERTIES LETTABLE AREA DIVESTED 2022 DIVESTED, TSQ.M. -123 25 NO OF PROPERTIES LETTABLE AREA DIVESTED INTO NEW DIVESTED INTO NEW ASSOCIATED COMPANY ASSOCIATED KLÖVERN COMPANY KLÖVERN 13
Slide 14: The new Klövern AB – a residential property company
The new Klövern AB – a residential property company for climate-smart and efficient TBU rental housing • Together with ALM Equity, Corem has established a new, joint company with the purpose to develop space-efficient and climate- smart rental housing for own management; the new Klövern. • Corem tra
Slide 15: Property development
Property development 15
Slide 16: Value adding property development
Value adding property development • Enables meeting changing market trends, as well as adapting properties to 12 3 803 customer needs. ongoing investment estimated projects, of SEK total investment, • Maintain and increase technical >50 million SEKm standard and energy efficiency. • Project portfoli
Slide 17: Commercial projects
Commercial projects 17
Slide 18: Commercial projects
| nn | | I) Commercial projects
Slide 19: Investments, trailing 12 months
Investments, trailing 12 months 4 000 3 500 3 000 2 500 2 000 1 500 1 000 500 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 Q4 Q1 Q2 2015 2015 2016 2016 2016 2016 2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2
Slide 20: Urban development projects
Urban development projects 20
Slide 21: Västerås
Vasteras corem
Slide 22: Uppsala Business Park
Uppsala Business Park corem 22
Slide 23: Stockholm, Söderstaden
Stockholm, Séderstaden corem | 23
Slide 24: Sustainability
Sustainability “Our aim is to ensure an attractive property portfolio which creates long-term sustainable value without negative impact on people or the environment.” 24
Slide 25: A leader in sustainable property management
A leader in sustainable Reduced property management climate impact Corem’s new long-term sustainability goals include: • All energy used in Corem's operations Sustainable and Attractive shall be fossil-free by 2030. vibrant city employer • Corem shall be climate neutral throughout the value chain by
Slide 26: Key ratios and financing
Key ratios and financing 26
Slide 27: Property value and lettable area
Property value and lettable area SEKm t.sq.m. 90 000 4 500 80 000 4 000 70 000 3 500 60 000 3 000 50 000 2 500 40 000 2 000 30 000 1 500 20 000 1 000 10 000 500 0 0 2015 2016 2017 2018 2019 2020 2021 Q2 2022 Property value, Corem Property value, Klövern Combined lettable area, t.sq.m. 27
Slide 28: Property value and Rental value, per sq.m.
Property value and Rental value, per sq.m. SEK/Sq.m. 25 000 1 500 20 000 1 200 15 000 900 10 000 600 5 000 300 - - 2015 2016 2017 2018 2019 2020 2021 Q2 2022 Property value per sqm Rental value per sqm 28
Slide 29: Profit from property management
Profit from property management SEKm 2000 1800 1600 1400 1200 1000 800 600 400 200 0 2015 2016 2017 2018 2019 2020 2021 Q2 2022 Trailing 12 months 29
Slide 30: Financing
Financing BBB- STABLE OUTLOOK AVERAGE INTEREST RATE INTEREST COVERAGE RATIO LTV % % 3 70 4,5 60 4,0 2,9 3,5 2,8 50 3,0 2,7 40 2,5 2,6 30 2,0 1,5 2,5 20 1,0 2,4 10 0,5 2,3 0 0,0 2015 2016 2017 2018 2019 2020 2021 Q2 2015 2016 2017 2018 2019 2020 2021 Q2 2015 2016 2017 2018 2019 2020 2021 2022, 2022 2
Slide 31: Net Asset Value (NAV) per ordinary share Class A and B
Net Asset Value (NAV) per ordinary share Class A and B SEK 35 30 25 20 15 10 5 0 2015 2016 2017 2018 2019 2020 2021 Q2 2022 31
Slide 32: Outlook
Outlook • Strong underlying business model • Property portfolio well positioned also for changing markets • Stable finances with aim to attain an investment grade rating from one of the three large rating agencies during 2023 32
Slide 33: All review, distribution, or copying of this presentation is prohibited.
All review, distribution, or copying of this presentation is prohibited. 33