Stendoerren Fastigheter Ab Class B · OMXSTO:STEF_B

Stendoerren Fastigheter Ab Class B — Stendörren Fastigheter — Remium presentation (May 2018)

25 slides from Stendoerren Fastigheter Ab Class B's conference presentation, May 9, 2018

  1. Slide 1: Presentation Remium

    MAY 9, 2018 PRESENTATION REMIUM

  2. Slide 2: Agenda

    AGENDA PART 1 – COMPANY PRESENTATION & BUSINESS RATIONALE PART 2 – FINANCIAL REPORT JAN - MAR 2017 PART 3 – GROWTH CONTINUE 2 PRESENTATION REMIUM | MAY 9, 2018

  3. Slide 3: Part 1: Company Presentation & Business Rationale

    PART 1 COMPANY PRESENTATION & BUSINESS RATIONALE

  4. Slide 4: Business Idea and Objectives

    COMPANY PRESENTATION & BUSINESS RATIONALE BUSINESS IDEA AND OBJECTIVES OVERALL OBJECTIVES BUSINESS IDEA Stendörren Fastigheter Stendörren Fastigheter creates long-term growth and creates high risk-adjusted return for its shareholders FINANCIAL value creation by acquiring, developing and managing by

  5. Slide 5: Snapshot of Stendörren

    COMPANY PRESENTATION & BUSINESS RATIONALE SNAPSHOT OF STENDÖRREN • Founded in 1995 as the commercial property arm of Kvalitena UPPSALA BACKGROUND • Separated from Kvalitena in November 2014 and thereafter listed on VÄSTERÅS Nasdaq First North Premier ESKILSTUNA ÖREBRO STOCKHOLM • Property value of S

  6. Slide 6: Property Portfolio

    UPPSALA 80% PROPERTY PORTFOLIO WITHIN THE GREATER STOCKHOLM REGION ENKÖPING VÄSTERÅS STORSTOCKHOLM ESKILSTUNA STOCKHOLM SÖDERTÄLJE FLEN 6 PRESENTATION REMIUM | MAY 9, 2018

  7. Slide 7: Organisation - Created for Growth

    COMPANY PRESENTATION & BUSINESS RATIONALE ORGANISATION - CREATED FOR GROWTH ”HAVING STAFF IN-HOUSE 41 HELPS US CREATE LONG- BOARD TERM RELATIONSHIPS WITH OUR TENANTS AND ENSURES THE DELIVERY” CEO co-workers MANAGEMENT TEAM MARKETING AND LEASING DEPARTMENT PROPERTY DEPARTMENT FINANCE DEPARTMENT PROJE

  8. Slide 8: Project Development

    COMPANY PRESENTATION & BUSINESS RATIONALE PROJECT DEVELOPMENT - APPROX. 1 000 MSEK ”OUR PORTFOLIO OF CASH FLOW PROPERTY YIELDING PROPERTIES CAN SUP- DEVELOPMENT PORT A PROJECT PORTFOLIO OF MAX 15% OF BETWEEN 15% OF TOTAL BALANCE SHEET PORTFOLIO VALUE” CASH FLOW GENERATED MIN 85% OF BALANCE SHEET ADV

  9. Slide 9: Why Focusing on Stockholm?

    COMPANY PRESENTATION & BUSINESS RATIONALE POPULATION GROWTH 1995 - 2016 REGIONAL CITIES INCL. SURROUNDING MUNICIPALITIES 35,0% 100,0% WHY 90,0% 30,0% FOCUSING ON 80,0% STOCKHOLM? 25,0% 70,0% 60,0% 20,0% 50,0% 15,0% 40,0% 30,0% 10,0% 20,0% 5,0% 10,0% 0,0% 0,0% Stockholm Malmö Göteborg Halmstad Umeå Ö

  10. Slide 10: Employment Growth in the Stockholm Region 1995-2016

    COMPANY PRESENTATION & BUSINESS RATIONALE EMPLOYMENT GROWTH IN THE STOCKHOLM REGION 1995 - 2016 Service sector Total employment 210 190 170 Index 150 130 110 90 2000 2004 2006 2009 2005 2008 2002 2003 2007 2001 2010 2014 2016 1996 1999 2015 2012 2013 1995 1998 1997 2011 Year Source: Evidens 10 PRESE

  11. Slide 11: Logistics in the Greater Stockholm Region

    COMPANY PRESENTATION & BUSINESS RATIONALE LOGISTICS IN THE GREATER STOCKHOLM REGION 16,0% Vacancy Yield 16,0% 11,0% Stibor 90 11,0% 6,0% 6,0% 1,0% 2010 2011 2012 2013 2014 2015 2016 2017 1,0% 2010 2011 2012 2013 2014 2015 2016 2017 680 18,0% 680 Annual rent/sq m, 670 18,0% Stockholm B-location 670 6

  12. Slide 12: Part 2: Financial Report Jan-Mar

    PART 2 FINANCIAL REPORT JAN - MAR 2017

  13. Slide 13: Jan-Mar 2018 Highlights

    JAN - MAR 2018 LETTABLE AREA: EQUITY RATIO: RENTAL VALUE: NET PROFIT: 609 000 M2 36% 127 MSEK 65 MSEK PROPERTY VALUE: 6 659 MSEK LTV: NET OPERATING INCOME: 56 % 79 MSEK 13 PRESENTATION REMIUM | MAY 9, 2018

  14. Slide 14: Key Metrics

    50 50 3,0 3,0 40 2,5 40 2,5 FINANCIAL REPORT JAN - MAR 2018 30 30 2,0 2,0 KEY METRICS 20 1,5 1,5 20 1,0 1,0 18% 2,6x 36% 10 10 0,5 0,5 Q4-15 Q1-16 Q2-16 Q3-16 0 0 0,0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1 Q2 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16 0,0 2016 2017 2018 Q1 Q2 Q3 Q4 Q1

  15. Slide 15: Income Build-up

    FINANCIAL REPORT JAN - MAR 2018 INCOME BUILD-UP Rental value Vacancy Property expenses Central admin Financing costs Value changes Taxes Net income 160 140 13 120 140 100 49 80 NOI 79 19 17 60 (+10%) 49 40 26 65 Prop Mgmnt 34 (+0,8%) 20 (+17%) 0 15 PRESENTATION REMIUM | MAY 9, 2018

  16. Slide 16: Portfolio Build Up - Actuals

    FINANCIAL REPORT JAN - MAR 2018 PORTFOLIO BUILD UP - ACTUALS 7 000 9,0% Property value 6 659 6 494 Project properties 6 039 6 000 5 817 5 880 8,0% Yield excl project properties, 12m avg 5 752 5 537 5 380 Yield, 12m avg 5 000 4826 7,0% 6,5% 6,5% 6,3% 6,2% 6,1% 6,1% 6,0% 6,0% 6,0% 4 000 5,9% 5,9% 6,0%

  17. Slide 17: Key Metrics Over Time and Financial Ratios

    FINANCIAL REPORT JAN - MAR 2018 KEY METRICS OVER TIME AND FINANCIAL RATIOS 75,0% 3,00 KEY FINANCIAL RATIOS JAN–MAR JAN–MAR 2,80 2018 2017 65,0% 2,60 Excess Ratio (NOI/Rental income), % 69% 68% 2,40 55,0% ROE (12m average), % 18% 33% 2,20 Avrg. Interest fixing, years 2,0 2,8 45,0% 2,00 Avrg. Debt mat

  18. Slide 18: Key Metrics

    FINANCIAL REPORT JAN - MAR 2018 KEY METRICS GROWING PROPERTY PORTFOLIO DEBT SERVICE CAPACITY SOLID BALANCE SHEET NOI LTM Property value, mSEK Net operating income, mSEK Equity NOI LTM 2) Equity Equity ratio 6 659 36% 36% 6 039 400 35% 2 464 5 752 33% 5 537 313 323 30% 2 242 290 304 27% 28% 2 099 4 8

  19. Slide 19: Share Value and Key Equity Ratios

    FINANCIAL REPORT JAN - MAR 2018 SHARE VALUE AND KEY EQUITY RATIOS 2 700 100,02 KEY EQUITY RATIOS JAN–MAR JAN–MAR 2018 2017 93,12 90,39 2 200 89,21 83,69 86,86 Share price, SEK 79,0 68,0 81,18 79,00 80,02 70,19 75,25 76,69 76,00 77,64 76,25 Equity per share, SEK 89,2 86,9 74,36 69,75 1 700 68,50 68,5

  20. Slide 20: Debt Funding Overview

    FINANCIAL REPORT JAN - MAR 2018 DEBT FUNDING OVERVIEW FÖRDELNING UTHYRBARYTA GEOGRAFISK FÖRDELNING FINANSIERINGSSTRUKTUR - Q1 2018 2 500 KAPITAL- STRUKTUR BANKLÅN 2 000 1 500 FÖRDELNING UTHYRBARYTA GEOGRAFISK FÖRDELNING KAPITAL- Senior debt, 80,4% STRUKTUR BANKLÅN 1 000 Bond, 18,5% Seller notes, 1,1

  21. Slide 21: Part 3: Growth Continue

    PART 3 GROWTH CONTINUE

  22. Slide 22: Our Property Portfolio Is Located Where Sweden Is Growing Most

    GROWTH CONTINUE OUR PROPERTY PORTFOLIO IS LOCATED WHERE SWEDEN IS GROWING THE MOST UPPSALA VÄSTERÅS ESKILSTUNA ÖREBRO STOCKHOLM SÖDERTÄLJE UPPSALA ENKÖPING LINKÖPING VÄSTERÅS STORSTOCKHOLM GÖTEBORG JÖNKÖPING ESKILSTUNA STOCKHOLM SÖDERTÄLJE FLEN MALMÖ 22 PRESENTATION REMIUM | MAY 9, 2018

  23. Slide 23: Where in Stockholm Region Do We Want to Grow?

    THE REGION HAS SIGNIFICANTLY HIGHER GROWTH THAN THE REST OF GROWTH CONTINUE SWEDEN WHERE IN STOCKHOLM REGION DO WE WANT TO GROW? UPPSALA VÄSTERÅS ESKILSTUNA ÖREBRO STOCKHOLM SÖDERTÄLJE LINKÖPING GÖTEBORG JÖNKÖPING Existing portfolio Possible expansion MALMÖ 23 PRESENTATION REMIUM | MAY 9, 2018

  24. Slide 24: Q&A

    Q&A 24 PRESENTATION REMIUM | MAY 9, 2018

  25. Slide 25: For Further Information Please Contact

    FOR FURTHER INFORMATION PLEASE CONTACT: CALENDAR: Q2 report 20 Jul, 2018 Q3 report 15 Nov, 2018 Q4 report 22 Feb, 2019 FREDRIK BRODIN, CEO MAGNUS SUNDELL, CFO fredrik.brodin@stendorren.se magnus.sundell@stendorren.se 08 - 518 331 01 08 - 518 331 02 25 PRESENTATION REMIUM | MAY 9, 2018

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