STENDÖRREN FASTIGHETER AB STRANDVÄGEN 5A 114 51 STOCKHOLM
Key metrics over time 75,0% 3,00 Excess ra)o 2,80 65,0% LTV 2,60 LTV-property 2,40 55,0% 2,20 45,0% 2,00 ICR ROE 1,80 35,0% 1,60 Equity Ra)o 1,40 25,0% 1,20 15,0% 1,00 Q2 ´15 Q3 ´15 Q4 ´15 Q1 '16 Q2 '16 Q3 '16 ICR (right hand scale) NOI Excess ratio Loan To Value Loan To Value (property level) Equity Ratio ROE
Portfolio Build-up - Actuals SEKm 6 000 9,0% Property value Annual NOI earning capacity NOI Yield NOI Yield excl non-earning 5 537 5 380 8,0% 4 889 4 826 5 000 4 496 6,8% 7,0% 7,0% 6,8% 4 000 6,4% 6,2% 6,4% 6,3% 6,2% 6,0% 5,8% 3 000 5,6% 5,0% 2 000 4,0% 1 000 3,0% 313 305 305 310 288 - 2,0% Q3 ´15 Q4 ´15 Q1 '16 Q2 '16 Q3 '16 Excluding Land and Non-Earning assets, Property NOI Yield amounts to 5,6% STENDÖRREN FASTIGHETER AB STRANDVÄGEN 5A 114 51 STOCKHOLM
Income Build-up Q1-Q3 2016 SEKm Property expenses Rental value Vacancy Central admin Financing cost Value changes Tax Net Income 700 600 500 121 356 400 473 300 40 454 200 98 NOI 218 40 100 77 Prop Mgmnt 102 0 Rolling average return on Equity = 40% STENDÖRREN FASTIGHETER AB STRANDVÄGEN 5A 114 51 STOCKHOLM
Property portfolio SEGMENTATION KEY PROPERTY RATIOS Q3 2016 Q2 2016 Q1 2016 Warehouse 41,0% No. of properties 89 87 83 Property value, SEKm 5 537 5 389 4 826 Light industry 25,1% Lettable area, '000 spm 602 581 575 Logis)cs 3,0% Yield running 12m 5,8% 5,9% 6,0% 41% Occupancy 90% 90% 91% Office 18,2% Economic occupancy 88% 89% 90% Retail 10,7% Lease duration, years 5,1 5,8 4,7 Other 2,0% Rent per sqm, SEK/sqm 783 790 752 GEOGRAPHICAL DISTRIBUTION COOP Sverige Fas)gheter TOP 10 TENANTS AB 11,7% - RENTAL INCOME - Silex Microsystems AB 5,6% - RENTAL INCOME - Äventyrslandet i Stockholm AB 3,3% Stockholm 23,1% Tyco Electronics Svenska Järfälla 15,4% Holdings AB 3,2% Unilever Supply Chain 23% Upplands-Bro 14,7% Company AG 2,1% Åea.45 Tryckeri AB 2,1% Botkyrka 8,6% Bac)guard AB 2,0% 64% Enköping 6,0% Alfa Laval Tumba AB 1,9% Täby 4,2% Finisar Sweden AB 1,9% Södertälje 3,8% Sätra Motorcenter AB 1,8% Flen 3,6% Övriga 64,4% STENDÖRREN FASTIGHETER AB STRANDVÄGEN 5A 114 51 STOCKHOLM
Debt funding overview MATURITY & INTEREST PROFILE KEY FINANCIAL RATIOS SEKm Q3 2016 Q2 2016 Q1 2016 Avrg. Interest on total 2 500 debt 3,00% 2,97% 2,98% Avrg. Interest fixing, years 2,4 2,4 2,7 2 000 Avrg. Debt maturity, years 3,3 3,6 3,1 1 500 LTV 59,3% 61% 63% LTV, property level 48,1% 52% 53% 1 000 ICR 2,25x 2,2x 2,2x Solidity 33% 32% 30% 500 0 Interest rate derivaXves 2016 2017 2018 2019 2020 >2020 Nominal Avrg. Maturity, value, SEKm years Total debt maturity Interest fixing & Interest rate deriva)ves Interest rate swaps 1 451 5,5 DISTRIBUTION OF DEBT Senior debt 3 433 Bond SEKm Sellers notes STENDÖRREN FASTIGHETER AB STRANDVÄGEN 5A 114 51 STOCKHOLM
Selected key metrics, Jan – Sep 2016 Economic letting Ratio 88% Excess Ratio (NOI/Rental Income) 68,9% ROE (average) 40% Equity Ratio 32,8% LTV 59,3% ICR 2,25x Net profit per share 16,45 kr Equity per share 68,8 kr EPRA NAV per share 78,2 kr Cashflow from operations per share 2,98 kr STENDÖRREN FASTIGHETER AB STRANDVÄGEN 5A 114 51 STOCKHOLM
Share value 78,20 2 000 74,04 1 800 72,25 70,02 1 600 58,82 57,50 60,02 56,78 1 400 49,01 49,09 55,00 50,02 47,32 1 200 50,00 49,90 46,10 44,50 1 000 40,02 800 30,02 1 899 1 307 1 516 1 186 1 284 1 489 1 808 600 20,02 400 10,02 200 - 0,02 Q1 ´15 Q2 ´15 Q3 ´15 Q4 ´15 Q1 '16 Q2 '16 Q3 '16 Book Equity Share price EPRA NAV/Share Book Equity/Share
Vart finns tillväxten i Stockholmsregionen? • 2,3 miljoner invånare • 600 000 nya invånare 2030 • 50% högre tillväxt än övriga regioner! STENDÖRREN FASTIGHETER AB STRANDVÄGEN 5A 114 51 STOCKHOLM
Vart vill vi växa? Vart växer Stendörren? Här finns vi idag Möjlig expansion? STENDÖRREN FASTIGHETER AB STRANDVÄGEN 5A 114 51 STOCKHOLM
Stockholm Väst Logistik AB Joint Venture 50/50 med Kilenkrysset • +400,000 kvm mark • Godsterminal med egen jvg.anslutning • E18 anslutning STENDÖRREN FASTIGHETER AB STRANDVÄGEN 5A 114 51 STOCKHOLM
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