Slide 1: Acquisition increases future earning capacity
YEAR-END REPORT 2021 Acquisition increases future earning capacity 1
Slide 2: Eastnine company highlights
Eastnine company highlights I Baltic yields at Nordic risk levels II Solid market fundamentals GDP per capita (2015 = 100) • Portfolio of prime office properties in 140 • Superior growth prospects compared Vilnius and Riga with a yield of 4.8 %1, to the Nordics 130 complemented by a strategy also No
Slide 3: Strong Baltic economies
Strong Baltic economies GDP-growth Inflation Property yield % % % 10 8 8 8 7 7 6 6 4 5 6 2 4 0 3 5 -2 2 -4 4 1 -6 0 3 -8 -1 -10 -2 2 2018 2019 2020 2021P 2022P 2023P 2018 2019 2020 2021 2022P 2023P 2018 Q3 2019 Q3 2020 Q3 2021 Q3 Q1 Q1 Q1 Q1 Lithuania Latvia Estonia Lithuania Latvia Estonia Office E
Slide 4: Properties in Vilnius
Properties in Vilnius • Total of nine office CBD-area Parliament district New town properties and one development project; S7-1 3Bures-1,2 Vertas-1 Uptown Park 3Bures-4. • Fair value of EUR 389m, 83 % of Eastnine’s property portfolio. • More than 120,600 sq.m. in existing buildings, on S7-2 3Bures-3
Slide 5: Properties in Riga
Properties in Riga • Total of three office Krisjana Valdemara street/City centre properties and two development projects; Valdemara Centrs Alojas Biroji The Pine and Kimmel. • Fair value of EUR 81m, 17 % of Eastnine’s property portfolio. • Around 22,600 sq.m. Project The Pine in existing buildings,
Slide 6: Property investment and tenants
Property investment and tenants Vinted and Bentley Systems new tenants among top ten Portfolio of uniquely high-quality office properties in the Baltics Tenant base consisting of recognised international corporates 13 properties Type Country Tenants % of annual contracted rent Directly owned (Indust
Slide 7: Other Investment I - Melon Fashion Group
Other Investment I - Melon Fashion Group Eastnine’s holding in 2021/ 2020/ • Eastnine holds 36 per cent of the Russian fashion MFG 2021-12-31 2020-12-31 retailer MFG. • According to MFG’s preliminary IFRS-figures1 sales Unrealised changes in value, EURm 42.5 12.4 grew 49 % to RUB 37,498m (25,219) du
Slide 8: Other investment II – EC Baltic Property fund II
Other investment II – EC Baltic Property fund II Eastnine’s holding in 2021/ 2020/ • Eastnine indirectly holds 39 per cent of East Capital East Capital Baltic 2021-12-31 2020-12-31 Baltic Property Fund II (ECBPF2). Property Fund II • The fund owns three properties in Tallinn, Estonia. • ECBPF2 is pr
Slide 9: Sustainability focus
Sustainability focus GRESB Albright Green financing Certification of properties Share of green Share of certified financing to increase properties 92 points Green list 26% increase by 5 points Eastnine is included on the Green list of Listed European estate companies for companies with a high degree
Slide 10: Financial overview
Financial overview eastnine ©
Slide 11: Highlights 2021
Highlights 2021 • Acquired three office properties in top locations. • Profit from property management affected by higher vacancies and higher interest expenses after a bond issue. • Large positive unrealised value changes from investments in MFG and properties. • Long-term NAV per share increased b
Slide 12: Financial highlights
Financial highlights Annual rent Rental income Net operating income Property value (per sq.m.) ~ EUR 24.5m1 ~ EUR 22.4m1 EUR 470m EUR 179 Equity/asset ratio Net LTVP Property yield Occupancy rate 58 % 45 % 4.81 90 % 1 Earning capacity. Property yield excluding development properties 12
Slide 13: Income Statement
Income Statement 2021 2020 Change, 2021 2020 Change, • Larger property portfolio, two properties acquired in Q2 EURk Jan-Dec Jan-Dec % Oct-Dec Oct-Dec % with full effect from Q3 and one in Q4 with full effect from Rental income Q1 2022. 21,530 19,166 +12 5,451 5,251 +4 Property expenses -2,293 -1,68
Slide 14: Statement of financial position
Statement of financial position 2021-12-31 2020-12-31 Change, % Assets EURk Investment properties 469,817 372,400 +26 • Increased value investment properties: acquisitions, unrealised changes in value and Long- and short-term securities holdings 140,858 102,152 +38 investments. Cash 29,201 24,278 +2
Slide 15: Current Earning capacity
Current Earning capacity EURk 2021-12-31 2021-09-30 Change, % • The rental value and rental income increase as a result of the acquisition of Uptown Park. Rental value 27,276 24,966 +9 Less vacancy value -2,738 -2,604 +5 • Property expenses increase due to increased operating costs; Rental income hi
Slide 16: Balanced capital structure & low risk
Balanced capital structure & low risk Interest bearing debt Interest duration 3% Fixed interest • Total interest-bearing liabilities of EUR 241m term 1.5 years • Consisting of bank loans EUR 196m and bond EUR 45m 10% • SEB, Swedbank and OP Bank representing the banking group Floating rate • Average
Slide 17: Share development and ownership
Share development and ownership Equity, Long-term NAV and price per share Largest shareholders 31 December 2021 2021 2D20 Share Data per share 31 Dec 31 dec Owner Country percentage Equity, EUR 16.9 14.0 1 Peter Elam Håkansson1 26.6% Long-term NAV, EUR 17.6 14.6 Bonnier Fastigheter Share price, EUR
Slide 18: Board of Directors
Board of Directors Liselotte Hjorth Christian Hermelin Ylva Sarby Westman Peter Elam Håkansson Peter Wågström Chairwoman Board member Board member Board member Board member • Chairman of the Board since • Board member since 2020 • Board member since 2020 • Board member since 2014 • Board member sinc
Slide 19: Why Eastnine?
Why Eastnine? eastnine ©
Slide 20: Profit and value increase per share
Profit and value increase per share Profit from property Dividend Long-term equity EUR management per share EUR per share EUR per share 0,5 0,5 20 18 0,4 0,4 16 14 0,3 0,3 12 10 0,2 0,2 8 6 0,1 0,1 4 2 0 0 0 2018 2019 2020 2021 2018 2019 2020 2021* 2018 2019 2020 2021 * Proposed dividend 20
Slide 21: Why Eastnine?
Why Eastnine? 1 Unique portfolio • High-quality office property portfolio, and intention to acquire the best logistics properties, in the Baltics. • Prime locations. 2 Strong cash generation • Higher property yields than for comparable properties in the Nordics. • Portfolio with predominantly strong
Slide 22: Baltics the new Nordics, journey has just begun
Baltics the new Nordics, journey has just begun