Baltic Horizon Fund · OMXTSE:NHCBHFFT
Baltic Horizon Fund — Q3 2023 Earnings Presentation
14 slides from Baltic Horizon Fund's earnings presentation, November 2023
Slide 1: Q3 2023 Webinar
Q3 2023 Webinar Baltic Horizon Fund
Slide 2: Notable events for the Fund
Notable events for the Fund The Management Board of Nasdaq Three Estonian retail assets have Baltic Horizon maintained the GRESB Baltic Horizon Fund has been Tallinn approved the application to list obtained In-Use certificates under 4 star rating for the second year in a honoured with a Gold BPR Aw
Slide 3: Baltic Horizon Fund portfolio summary
Baltic Horizon Fund portfolio summary The Fund is minimizing concentration risk by diversifying the client base, segment, and geographical allocation Net rental income by segment, Q1-Q3 2023 Rental concentration: 10 largest tenants as of 30 September 2023 Retail 42,4% 9.5% 8.9% Leisure 5,1% 4.5% 3.2
Slide 4: Letting activities & pipeline (Oct - Nov 2023)
Letting activities & pipeline (Oct - Nov 2023) Summary of recently signed lease agreements In the period between October and the current date, the Fund successfully secured lease agreements totaling 6,784 Property Tenant Name Net Leased sqm. area, sqm These agreements encompass a diverse range of te
Slide 5: Portfolio overview
Portfolio overview As of 30 September 2023 Direct Net initial Fair value1 NLA Property name Sector property yield yield Occupancy rate (EUR ‘000) (sq. m) Q3 20232 Q3 20233 Vilnius, Lithuania Europa SC Retail 35,828 17,051 3.7% 4.1% 84.2% North Star Office 20,368 10,579 7.0% 7.3% 99.7% Meraki Office
Slide 6: NOI development
NOI development As of 30 September 2023 Q1-Q3 Q1-Q3 Property Date of acquisition 2018 2019 2020 2021 2022 2022 2023 Galerija Centrs 13 June 2019 - 2,552 3,023 1,448 2,193 1,632 1,750 Postimaja & CC Plaza 8 March 20131 2,447 2,495 1,932 1,805 2,044 1,608 1,591 complex North Star 11 October 2019 - 315
Slide 7: Financial results for Q1-Q3 2023
Financial results for Q1-Q3 2023 Profit and loss 01.01.2023- 01.01.2022- EUR ‘000 Change (%) 30.09.2023 30.09.2022 Key comments: Rental income 13,988 15,422 (9.3%) • The Group earned net rental income of EUR Service charge income 4,521 4,007 12.8% 11.7 million in Q1-Q3 2023 (Q1-Q3 2022: EUR Cost of
Slide 8: Financial results Q1-Q3 2023
Financial results Q1-Q3 2023 Financial position Change EUR ‘000 30.09.2023 31.12.2022 (%) Key comments: Investment properties in use 256,662 333,123 (23.0%) Gross asset value (GAV) 269,462 343,963 (21.7%) • At the end of Q3 2023, the Fund’s GAV was EUR 269.5 million (31 December 2022: EUR Interest-b
Slide 9: Financial debt structure
Financial debt structure As of 30 September 2023 Carrying Fixed rate Property Maturity Currency amount (EUR % of total portion ‘000) (%) Galerija Centrs 26 January 2024 EUR 30,000 19.5% 100.0% CC Plaza and Postimaja 12 February 2026 EUR 16,856 11.1% 102.0% Europa SC 15 March 2024 EUR 8,400 5.5% 219.
Slide 10: Financing summary
Financing summary As of 30 September 2023 Summary of financing terms Maturity by separate loan (EUR ‘000) 35 000 56.1%* 5.1% 30 000 Galerija LTV Cost of debt 25 000 BH Bonds MEUR 22 20 000 CC Plaza and 15 000 Postimaja 1.4% 2.4 years BH Bonds MEUR 12.5 10 000 LNK Vainodes Upmala Biroji Annual debt W
Slide 11: Outlook for Q4 2023
Outlook for Q4 2023 • Management team remains fully committed to explore additional refinancing and divestment opportunities aimed at repaying the outstanding EUR 12.5 million of the first tranche before its maturity date in May 2024 in order to reduce the average cost of debt financing. • Looking a
Slide 12: Contact information
Contact information Management board message We declare that, to the best of our knowledge, the information provided in this document is accurate and that the document is not subject to any omissions that may serve to distort the picture of the document provided. Tarmo Karotam Baltic Horizon Fund Fu
Slide 13: Disclaimer
Disclaimer This material is provided to you for information purposes only. You should not rely upon it or use it to form the definitive basis for any decision, contract, commitment or action whatsoever. Northern Horizon Capital AS (NHC) has taken all reasonable care to ensure that the information co
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