Stendoerren Fastigheter Ab Class B · OMXSTO:STEF_B
Stendoerren Fastigheter Ab Class B — Stendörren Fastigheter — Q4 2021 Earnings Presentation
23 slides from Stendoerren Fastigheter Ab Class B's earnings presentation, 2022
Slide 1: Stendörren
; STENDORREN Hokaler som ge shilnad. OURTE |QUARTER = STEND
Slide 2: Introduction
INTRODUCTION BUSINESS IDEA, MARKET OPPORTUNITY AND FINANCIAL OBJECTIVES BUSINESS IDEA Stendérren creates profitable growth in net asset value by actively managing, developing and acquiring properties. Focus on logistics, warehouse and light industrial properties, primarily within Stockholm region an
Slide 3: Snapshot of Stendörren
SNAPSHOT OF STENDORREN PROPERTY VALUE! RENTAL VALUE? NOI YIELD? LETTABLE AREA! NAV®> LEASE DURATION® BUILDING RIGHTS' sQ.M. SEK sQ.M. 652,000 793,000 4,852 million 1) Property portfolio as per December 31, 2021 2) Estimated earnings capacity as of December 31, 2021 3) Excluding projects and land, 12
Slide 4: Snapshot of Stendörren - Continued
SNAPSHOT OF STENDORREN - CONTINUED BUSINESS IDEA STRONG FOUNDATION /CASH FLOW SIGNIFICANT DEVELOPMENT PORTFOLIO CLEAR SUSTAINABILITY STRATEGY GEW wvestor Presentation Stendérren creates profitable growth in net asset value by actively managing, developing and acquiring properties. Our focus is on lo
Slide 5: Stendörren History in Short
STENDORREN HISTORY IN SHORT The company hires the new CEO Erik Ranieand a new management team is New hybrid bond issue of derapnienea SEK 800m Share listed at Nasdaq Stockholm Mid cap EQT new main shareholder Tap issue of SEK 350m in 2015 3 year bond issue January of SEK 360m was New bond issue of S
Slide 6: Good Reasons to Own a Stendörren Share
4 GOOD REASONS TO OWN A STENDORREN SHARE STABLE CASH FLOW SUSTAINABLE GROWTH + High yielding logistics, warehouse and light + Properties strategically located in growth areas (population and industrial properties with long leases economic) in the Greater Stockholm and the Malardalen region + The ten
Slide 7: 1. Stable Cash Flow
1. STABLE CASH FLOW DIVERSIFICATION WITH FOCUS ON GREATER STOCKHOLM PROPERTY PORTFOLIO OVERVIEW * Stendérren has a property portfolio of SEK 11,693m, with a property yield of 5.6%! as per 31 December 2021. * Rental value? of SEK 705m with an economic occupancy rate of 89% as per 31 December 2021. +
Slide 8: 1. Stable Cash Flow - Continued
1. STABLE CASH FLOW - CONTINUED DIVERSIFIED TENANT BASE LARGEST TENANTS AS PER @4 2021 LEASE MATURITY BY RENTAL INCOME Rental Rental area, Share of income, th. sq.m. total rental SEKm income Coop Logistics AB 65 130 nN% Alfa Laval Tumba AB 13 20 2% Atta.45 Tryckeri AB 12 v 2% Montain Top 10 10 2% Un
Slide 9: 2. Sustainable Growth
Sources: SCB, Swedish Trade Federation, PostNord/HUI, CBRE
Slide 10: 2. Sustainable Growth - Continued
ERB investor Presentation 2. SUSTAINABLE GROWTH - CONTINUED STRONG GROWTH PROSPECTS FUTURE * Continued expansion in greater Stockholm and Malardalen. + Furthermore, new markets are continuously being evaluated, with the most recent acquisitions being two modern warehouse assets in the logistics clus
Slide 11: 3. Value Growth in Projects
3. VALUE GROWTH IN PROJECTS PROJECT PORTFOLIO WITH LARGE POTENTIAL MUNCIPALITY Upplands-Bro Sédertalje Eskilstuna Stockholm Enképing Upplands-Bro Upplands-Bro Enképing Enkoping Upplands-Bro Botkyrka Sollentuna Vasteras Uppsala ENVISAGED MAIN USE Logistics Logistics Logistics Light industrial Logisti
Slide 12: 3. Value Growth in Projects - Continued
3. VALUE GROWTH IN PROJECTS - CONTINUED ONGOING AND FINALIZED PROJECTS ONGOING PROJECTS PROPERTY Almnas 5:23 Hjulsmeden 1 Libroback 21:3 Viby 19:66 Almnas 5:24 Almnas 5:24 Tegelbruket 1 Total ongoing projects ESTIMATED SIZE, NET TYPE OF DEVELOPMENT COMPLETION sQ.M. New logistics Q4 2022 11,400 New l
Slide 13: Tegelbruket in Botkyrka
3. VALUE GROWTH IN PROJECTS - CONTINUED TEGELBRUKET IN BOTKYRKA TEGELBRUKET + Example of underutilized asset in urban location. + Acquired in 2016 as a cash flow generating property, significant value unlocked through rezoning allowing for residential construction on underutilized parking lot. * Bui
Slide 14: Sustainability
SUSTAINABILITY CLIMATE IMPACT KG CO2/SQ.M ENERGY INTENSITY KWH/SQ.M. DISTRIBUTION OF ENERGY SOURCES 6 140 on re an Renewables mNon-renewables IMPACT BETWEEN 2017- 135 EFFICIENCY PER SQM 5 2020 (kgC02,¢/sam) BETWEEN 2017-2020 130 4 125 3 120 115 2 no 1 105 ° 100 2017 2018 2019 2020 2017 2018 2019 202
Slide 15: 4. Finance
Slide 16: Financial Performance
FINANCIAL PERFORMANCE Asset agement v Net letting of SEK 40 million (excluding Exploria AB’s bankruptcy SEK 57 million). v New lease agreements with an annual rental value of SEK 79 million. v Lease renegotiations led to an increase in rental values of 22%. Development Y six applications for buildin
Slide 17: 12 Months to December 2021 Key Metrics
12 MONTHS TO DECEMBER 2021 KEY METRICS PROPERTY VALUE: 11,693 MSEK NET OPERATING INCOME: 46 % 488 MSEK LETTABLE AREA: 793,000 M? zouirrrarte: ~ 43% RENTAL INCOME: 653 MSEK NET PROFIT: 1,209 MSEK ABE 3 7 === = GREEN i HUB® GHB nvestor Presentation
Slide 18: Financial Key Metrics
FINANCIAL KEY METRICS PROPERTY VALUE ICR 1693 9533 8.476 9147 5752 6491 Ql G2 G3 Q4] QI G2 G3 A4/QI G2 G3 A4/ Ql Q2 G3 Q4/ Ql G2 G3 4) 2017 2018 2019 2020 2021 PROFIT FROM PROPERTY MANAGEMENT 82 70 65 62 62 ©” 64 64 53 53 43 42 39 fj 39 36 34 29 34 32 22 Ql Q2 G3 Q4/ QI Q2 G3 G4] QI G2 G3 G4] QI Q2
Slide 19: Net income bridge
Rental value Vacancy Other income Property Central admin Financing Value changes Taxes Net income expenses costs
Slide 20: Debt Funding
DEBT FUNDING a DEPT FUNDING OVERVIEW LOAN MATURITY INTEREST FIXING sEKm SEKm 12% 2.000 1889 3 000 2700 1800 1494 2.500 rss tas 2000 20%, 1200 1000 1500 1050 800 659 900 68% 600 1000 565 434 400 222 500 = Bank debt Sr Unsecured bond * Total interest bearing debt amounts to + Stendérren has a well dis
Slide 21: Share Value and Key Equity Ratios
SHARE VALUE AND KEY EQUITY RATIOS SEKm SEK/share KEY EQUITY RATIOS DECEMBER 2021 D Share price, SEK 304.50 152.50 6 000 350 Equity per share, SEK” 155.84 115.16 300 Long term nav per share, SEK 186.80 136.59 5 000 1) Book equity excluding hybrid capital per share 250 4000 200 3000 150 2.000 100 1000
Slide 22: Share price and trading volume
350 140 000 000 300 120 000 000 250 100 000 000 200 80 000 000 150 60 000 000 100 40 000 000 50 20 000 000 0 0 Feb-18 Aug-18 Feb-19 Aug-19 Feb-20 Aug-20 Feb-21 Aug-21 Feb-22 • • • • •
Slide 23: Rental income, property expenses and net operating income
• • • Rental income Property Net operating expenses income
Stendörren Fastigheter — Q4 2021 Earnings Presentation on 6ix