Stenhus Fastigheter I Norden Ab · OMXSTO:SFAST
Stenhus Fastigheter I Norden Ab — Q1 2025 Earnings Presentation
21 slides from Stenhus Fastigheter I Norden Ab's earnings presentation, May 15, 2025
Slide 1: Q1 2025 Presentation
STENHUS Fastigheter Q1 2025 Presentation
Slide 2: Table of contents
Table of contents 1. Introduction to Stenhus Fastigheter 2. Property portfolio 3. Financials Today’s presenters Elias Georgiadis Mikael Nicander Tomas Georgiadis CEO & Board member Deputy CEO CFO 2 Q1 2025 Presentation
Slide 3: 1. Introduction to Stenhus Fastigheter
1. Introduction to Stenhus Fastigheter
Slide 4: Key takeaways
Key takeaways Profit from property management (SEKm) / Property management earnings per share (SEK) Operational goals Q1 Profit from property management (SEKm) Property management earnings per share (SEK) • By owning, developing and managing properties, • Rental income amounted to SEK 257 m (268). 9
Slide 5: Stenhus Fastigheter in brief
Stenhus Fastigheter in brief Key ratios 2025-03-31 Geographical footprint, % of portfolio value Company overview Market value per region Clear focus on sustainable growth, Stockholm 33% MSEK 988 MSEK 421 West 34% operating cash flows, and lease Mälardalen 23% 13.5 durations. Rental income1 Earnings
Slide 6: Historical development
Historical development Historical development of Stenhus Fastigheter Stenhus Fastigheter’s targets Property value Q1 2022–Q1 2025 2025-03-31 14,2 14,3 13,9 13,7 13,3 13,6 13,4 13,5 13,0 13,0 13,2 12% Inc Mgmt. result over a business cycle 12% ROE over a business cycle 7,6 7,8 LTV < 60% currently 56.
Slide 7: Long-term strategy supported by a value-creating business model
Long-term strategy supported by a value-creating business model Business model and strategy Light industrial/ logistics – Long-term strategy is to manage all properties and projects in-house to enable maximum customer knowledge and customer satisfaction and thus deliver in line with the Company’s bu
Slide 8: Sustainability efforts
Sustainability efforts Sustainability efforts are based on the UN Sustainable Development Goals STENHUS VALUE CHAIN ION FOR EAT FU Environmental efficiency Business ethics CR – Renewable energy – Anti-corruption UE TU LE VAL RE – Energy efficiency – Code of Conduct G E N ERA – Sustainability certifi
Slide 9: Selected projects
Selected projects Stenhus continuously work to identify development opportunities and unused building rights within the stock in order to create additional value and facilitate long-term contractual relationships Svanholmen 1, Stockholm Librobäck 18:6 mfl, Uppsala Vattumannen 3, Norrtälje City: Segm
Slide 10: 2. The property portfolio
2. The property portfolio
Slide 11: Critical mass of high quality assets in strong property markets
Critical mass of high quality assets in strong property markets 136 properties with a total market value of SEK 13 515 m Rental income Market value per segment Rental income per segment Light industrial/logistics 53% Light industrial/logistics 55% Grocery 15% Grocery 17% Public 20% 13.5 Public 17% b
Slide 12: Diversified tenants and solid WAULT of 6.0 years
Diversified tenants and solid WAULT of 6.0 years Top 15 largest tenants, rental income1 , accounted for 39.6%of rental income Lease maturity structure by rental income1 Number of Wault, Tenant Area, sq.m contracts2 year Annual rent Alstom Rail Sweden AB 24 906 2 6.5 Number of Share of Maturity year
Slide 13: Selected properties
Selected properties Tyresö Forellen 19 Stockholm Ivalo 1 Botkyrka Samariten 1 Norrtälje Vattumannen 2,3 &4 Västerås Finnslätten 6 Eskilstuna Skiftinge 1:5 & 1:6 Tibro Hammaren 1 Skövde Personbilen 1 Kungsbacka Hede 3:122 13 Q1 2025 Presentation
Slide 14: Selected projects
Selected projects Stenhus continuously work to identify development opportunities and unused building rights within the stock in order to create additional value and facilitate long-term contractual relationships Köpmannen 7 Skiftinge 1:5 & 1:6 City: Västerås Segment: Non food retail/grocery store C
Slide 15: 3. Financials
3. Financials
Slide 16: Income statement
Income statement Consolidated income statement Rental income and EBITDA, reported (MSEK) Rolling Rental income, reported 2025 2024 12 months 2024 EBITDA, reported Jan- Jan- April 2024- jan- 268 268 265 (SEKt) March March March 2025 dec 258 257 247 245 239 241 Rental income 256 779 268 075 1 000 500
Slide 17: Current earning capacity and Financial targets
Current earning capacity and Financial targets Earnings capacity long term as of Q1 2025 Financial targets and dividend policy1 Target Policy Outcome Loan-to-value < 60% 56.0% 1 064 -76 Net loan-to-value < 55% 53.4% 988 -204 Equity ratio > 35% 42.0% 784 -64 Interest coverage ratio > 2.25x 1.92x 12 -
Slide 18: Balance sheet
Balance sheet Assets Equity and Liabilities (SEKt) 2025-03-31 2024-03-31 2024-12-31 (SEKt) 2025-03-31 2024-03-31 2024-12-31 Investment properties 13 515 420 13 721 006 13 395 030 Share capital 371 779 370 629 371 779 Plot and right of use assets 199 480 196 844 198 498 Other capital contributions 4
Slide 19: Debt financing and capital structure at a glance
Debt financing and capital structure at a glance Net Loan to Value Debt maturity structure (MSEK) ¹ Gross LTV Net LTV Target of Net LTV below 55% 5 125 57% 57% 57% 57% 56% 56% 56% 56% 55% 55% 55% 55% 55% 55% 53% 53% 53% 54% 53% 54% 53% 53% 51% 48% 46% 45% 67% 1 297 999 204 17% 13% 3% March 31 2022 J
Slide 20: Shareholders and Calendar
Shareholders and Calendar Largest shareholder 2025-03-31 Calendar Number of Shareholder shares Percent Sterner Stenhus Holding AB 90 698 818 24.4 Fastighets AB Balder 73 041 556 19.6 Annual General Interim report Interim report Investment AB Öresund 33 016 084 8.9 Meeting Q2 Q3 Länsförsäkringar Fond
Slide 21: STENHUS
STENHUS Fastigheter
Stenhus Fastigheter i Norden — Q1 2025 Earnings Presentation on 6ix