Eastnine Ab · OMXSTO:EAST
Eastnine Ab — Q1 2021 Earnings Presentation
23 slides from Eastnine Ab's earnings presentation, March 2021
Slide 1: Interim Report January-March 2021
INTERIM REPORT JANUARY-MARCH 2021 | Stable situation and P| new acquisitions yr ||
Slide 2: Agenda
Agenda * Eastnine in brief & Highlights during the first quarter * New acquisitions, Property portfolio & Other investments * Tenants & Sustainability * Financial reports, Equity & Debt * Why Eastnine? Presenters Kestutis Sasnauskas CEO Britt-Marie Nyman CFO &deputy CEO eastnine O
Slide 3: Eastnine in brief
Eastnine in brief Eastnine in 3 bullets Figures in brief Vision * Swedish real estate company ”Eastnine shall create and provide The share is listed on Nasdaq Stockholm, EUR 374m 120,200 sq.m. prime venues where ideas can flow, Mid Cap, and the head office is located in Property value Lettablearea p
Slide 4: Highlights Q1 2021
Highlights Q1 2021 e Stable situation, but hesitant market © Increased rental income due to larger portfolio e Increased vacancies in Riga © MFG keeps delivering e Acquisition of two properties after the end of the period, one each in Riga and Vilnius ; eastnine O
Slide 5: New acquisitions
New acquisitions Property portfolio Other investments eastnine ©
Slide 6: New acquisitions
New acquisitions Unig, Vilnius * Completion 2016 6,900 sq.m. office space . * 110 parking spaces . * Fullylet to Danske Bank IT service center . Zala 1, Riga * Completion 2009 3,600 sq.m. office space 190 parking spaces, of which 170 in an underground garage Fully let to Microsoft, CBRE etc. . . ¥ e
Slide 7: Properties in Vilnius including acquisition
Properties in Vilnius including acquisition Vilnius ~334 EURm Danske Bank, Telia 2019/2020 Completion 2017/2019 | Certification BREEAM Excellent 3Bures-1,2 &3 (2) GLA, sq.m. 42,000 Keytenants Swedbank, Visma Acquisition 2014 Completion 2008/2018 Certification LEED Platinum Vertas-1 & 2, Uniq (3) GLA
Slide 8: Properties in Riga including acquisition
Properties in Riga including acquisition Zalal (4) 3,600 Microsoft, CBRE 2021 2009 Riga GLA, sq.m. ~73 in Keytenants 18% ‘Acquisition Completion Certification LEED Platinum Valdemara Centrs @ GLA, sq.m. 8,500 Keytenants _ Webhelp, Sorainen Acquisition 2019 Completion 1999 Certification In process Va
Slide 9: MFG
MFG * Total sales (prel figures) increased by 35 per cent to RUB 7,271m (5,382). * Online sales accounted for 32 per cent (28) of total sales. * EBITDA (prel figures excl IFRS 16 effect) reached RUB 261m (-258). * EBITDA margin was 3.6 per cent (-4.8). * Unrealised change in value of Eastnine’s shar
Slide 10: Tenants & sustainability
Tenants & sustainability eastnine ©
Slide 11: Tenants
Tenants * Total of around 110 tenants and 150 lease agreements. * Average remaining lease term 4.2 years, largest tenants 4.3 years. * Danske Bank is largest tenant with 28 per cent of total annual rent. * Ten largest tenants count for 69 per cent of total annual rent. * Discounts due to the coronav
Slide 12: Sustainability
Sustainability * Improved GRESBs results 2020, among the top 20 per cent realestate peers globally. * Green financing framework received Dark Green and Excellent rating from CICERO. * 87 per cent of the property portfolio was environmentally certified with LEED Platinum or BREEAM Excellent. * Top ra
Slide 13: Financials
Financials eastnine ©
Slide 14: Income Statement
Income Statement EURK Rental income Property expenses Net operating income Central administration Interest expenses Other financial income/expenses Profit from property management Unrealised value change -properties -derivatives -investments Dividend from investments Profit before tax Deferred tax N
Slide 15: Statement of financial position
Statement of financial position * The value of investment properties increased Suis Curie CUE changers asa result of investments and minor Investment properties 374,200 372,400 +0 unrealised changes in value. Long-term securities holdings 104,093 102,152 +2 * Long-term securities holdings were mainl
Slide 16: Key figures
Key figures Properties Finance Share Occupancy rate, % Surplus ratio, % Average rent level, EUR/sq.m./month LTV, % LTV properties, % Return on equity, % Profit from property management/share, EUR Earnings/share before dilution, EUR Equity/share, SEK Long term equity/share, SEK 7.2 0.11 0.26 146 SEK/
Slide 17: Current Earning capacity
Current Earning capacity Change, EURk 2021-03-31 2020-12-31 % Rental value 22,776 22,791 0 Vacancy value -2,177 1,799 421 Rentalincome 20,599 20,992 2 Property expenses -2,100 -2,200 5 Net operating income 18,499 18,792 2 Central administration -3,600 -3,600 0 Interest expenses -3,988 -4,018 1 Other
Slide 18: The share
The share Shareholder Shares, no. % Peter Elam Hakansson! 6,074,754 272° Arbona AB (pub), 2,240,328 10.0 « Keel Capital 2,231,496 10.0 Lazard Asset Management 1,480,434 6.6 ICA-handlarnas Férbund 1,000,000 45 Patrik Brummer 832,930 37 Norges Bank 648,823 22%) Kestutis Sasnauskas 461,818 21 Nordnet P
Slide 19: Debt
Debt * Liabilities to credit institutions were almost unchanged, EUR 172m (173). * Loan maturity was 2.7 years (3.0) and interest maturity 2.1 years (2.3). * Average interest rate was 2.3 per cent (2.3). Banks 16% 54% 30% = SEB mSwedbank = OP Bank LTV & Equity/asset ratio % 100 . SS 62 50 46 7 36 25
Slide 20: Why Eastnine?
Why Eastnine? eastnine ©
Slide 21: Unique portfolio
Unique portfolio * Collection of some of the best office properties in the Baltics. * Modern class-A properties with the highest environmental standards. * Prime locations in the Baltic capital cities. Strong cash generation * Higher property yields than for comparable properties in the Nordics. * P
Slide 22: Long term growth...
Long term growth... EURK Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Qi 2021) Rental income 1,088 1,325 1,657 1,634 1,993 2,282 2,339 2,516 2,947 3,099 3,142 4,161 4,475 4,467 4,993 5,251 5,099 Property expenses -309
Slide 23: Baltics the new Nordics, journey has just begun!
Baltics the new Nordics, journey has just begun! eastnine ©