Klarabo Sverige Ab Class B · OMXSTO:KLARA_B
Klarabo Sverige Ab Class B — Q4 2024 Earnings Presentation
22 slides from Klarabo Sverige Ab Class B's earnings presentation, Feb 14, 2025
Slide 1: Q4 report
Q4 report 14 February 2025 KlaraBo property Narvaren in Helsingborg 1
Slide 2: Today's presenters
Today’s presenters Andreas Morfiadakis Per Holmqvist CEO and co-founder CFO 2
Slide 3: Highlights Q4
Highlights Q4 3
Slide 4: Activities during Q4
Activities during Q4 • KlaraBo acquired a larger property portfolio in Helsingborg • Rights issue of approximately SEK 391 million as part of the financing • Substantially oversubscribed and strong support from existing shareholders and new investor • Refinanced loans with attractive terms per Novem
Slide 5: Continued organic growth
Continued organic growth • Financial development Q4 • Revenue increased 5% due to annual rent increase and investments in renovations • Net operating income increased 14% +5% Revenue SEK 158 m • Income from property management increased 31%, driven by higher net operating income and lower interest r
Slide 6: Positive property values and continued compensation for cost inflation
Positive property values and continued compensation for cost inflation Revenue • Q4 revenue +5 percent YoY • 6 percent increase in revenue, on a like-for-like basis, attributable mostly to annual general rent increase and renovations Costs • Q4 YoY costs decreased 4 percent, partly explained by high
Slide 7: Continued stable financial position
Continued stable financial position • Higher annual rent increase than previously assumed in valuations main explanation for net value increase of SEK 132 million • Average increase in exit yields 3 bps (underlying effect of SEK -70 m in Q4) • Increase in receivables explained by ongoing rights issu
Slide 8: 80 percent of loan portfolio at fixed interest rates
80 percent of loan portfolio at fixed interest rates Maturity structure – Fixed interest 2024-12-31 Maturity structure – Fixed credit 2024-12-31 • Interest-bearing liabilities of SEK 4,883 m • Average credit maturity of 2.1 years • Average interest rate maturity of 3.3 years • Refinancing of credit
Slide 9: Current earnings capacity
Current earnings capacity • Rent negotiations representing about 34% of the total residential rental value remain, positively impacting earnings from next quarter but property expenses fully indexed • Rental revenue increased by SEK 21 m YoY • The annual financial costs decreased by SEK 6 m YOY • In
Slide 10: Attractive apartments at reasonable rents
Attractive apartments at reasonable rents 10
Slide 11: Fully occupied property portfolio
Fully occupied property portfolio Geographical presence and 6,694 97.2% SEK 1,163 administrative areas Real occupancy rate Average rent per sq.m and year, Apartments under management unrenovated portfolio SEK 18,469 88% 499,000 Market value per sq. m. Residential Sq.m lettable area North Central Yea
Slide 12: Large acquisition drives property value over SEK 10 bn
Large acquisition drives property value over SEK 10 bn Helsingborg • Portfolio with an underlying property value of SEK 850 million • 16 properties – a total of 740 apartments • Total lettable area 56,700 sqm • Current renovation potential 64% • Unrenovated average rent 1,127 SEK/sqm renovated ave
Slide 13: High and stable occupancy rate provides significant potential
High and stable occupancy rate provides significant potential Annual construction needs per 1,000 inhabitants and KlaraBo’s geographical presence based on market value In January 2025, the Swedish National Board of Housing, Building and Planning published new 13 calculations of the national and regi
Slide 14: Strategically selected clusters accounts for 53% of portfolio
Strategically selected clusters accounts for 53% of portfolio* Geographical presence and administrative areas Östersund Helsingborg * Presence since: 2019/2025 Presence since: 2022 831 apartments whereof 61% with renovation potential 878 apartments whereof 89% with renovation potential Real occupanc
Slide 15: Proven business model
Proven business model 15
Slide 16: Business model that delivers…
Business model that delivers… • KlaraBo's business model is based on own and long-term property management through renovation, acquisition and new construction • Proven renovation strategy which, through upgrading apartments when relocating, leads to: • gradually increased cash flow • gradually incr
Slide 17: Rental value trend continues with stable occupancy rate
Rental value trend continues with stable occupancy rate • About 3,800 apartments, or 60% of total portfolio with renovation potential, excluding construction • Renovations only after tenants have moved out at their own initiative • Renovations increase property values and strengthens cash flow • Ren
Slide 18: Current trading and Summary
Current trading and Summary 18
Slide 19: Current trading – positioned for growth with increased profitability
Current trading – positioned for growth with increased profitability • Consolidation of 740 apartments in Helsingborg per January 31, with annual rental approx. SEK 76 million • Upgrades and refurbishments continues (LTM 150) • Occupancy rate remains at a high and stable level – low market vacancy i
Slide 20: KlaraBo investment highlights
KlaraBo investment highlights Over 60% of apartments in portfolio with renovation potential Continued high demand for rentals due to housing shortage, lower construction of new housing and lower disposable income +19% average annual growth in NRV since 2019 Growth potential via acquisitions and deve
Slide 21: Q&A
Q&A 21
Slide 22: Thank you!
Thank you! 22