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INTERIM REPORT FOR
JANUARY–SEPTEMBER 2017
BILJANA PEHRSSON, CEO
ANDERS KVIST, CFO
KUNGSLEDEN AB (PUBL) |
AGENDA
› Interim period in summary
› Financial performance and key figures
› Outlook
› Questions are welcome
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KUNGSLEDEN AB (PUBL) |
TRANSFORMATION COMPLETED – KEY FIGURESDEVELOPMENT SINCE 2012
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KUNGSLEDEN AB (PUBL) |
JAN-SEP 2017 IN FIGURES (JAN-SEP 2016)
KUNGSLEDEN AB (PUBL) |
STRONG LEASING RESULTS – NET LEASING YTDSEK 61 MILLION
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GOOD RENEGOTIATING RESULTS – AVERAGE RENT UPLIFT 10%
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RISING PROPERTY VALUES – DRIVEN BY OPERATING NET IMPROVEMENT & YIELD ADJUSTMENT
▪ YTD VALUE UPLIFT 3.6 %
▪ VALUATION YIELD ON AVERAGE 5.9 %
KUNGSLEDEN AB (PUBL) | 8
ACTIVE PROPERTY MANAGEMENT – CASESANTANDER IN DANDERYD KONTOR
KUNGSLEDEN AB (PUBL) |
VÄSTERÅS – GOOD MARKET EVENTS CREATES AN OPPORTUNITY FOR OUR PORTFOLIO
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VÄSTERÅS CLUSTERS – KEY FIGURES
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KISTA 2024 – A CITY IN TRANSFORMATION
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INCREASED DEMAND FOR OFFICES – FROM A VARIETY OF SUCCESSFUL BUSINESSES
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INCREASED DEMAND FOR OFFICES – FROM A VARIETY OF SUCCESSFUL BUSINESSES
KUNGSLEDEN AB (PUBL) |
KISTA CITY CLUSTER
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HIGH PRE-LETTING THROUGHOUT THE DEVELOPMENT PIPELINE
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RESIDENTIAL AND COMMERCIAL BUILDING RIGHTS
▪ During the last 12 months we have divested about 180,000 sq.m of properties with identified
potential for residential building rights at prices between SEK 2,500 and 10,000 per sq.m
gross area
▪ Total profit from the divestments is more than SEK 430 million. Remaining profit of SEK 320
million, not yet accounted for, will be realised graduallly over the coming years as the zoning
plans are approved
▪ The remaining potential for residential building rights is now estimated to be approximately
270,000 sq.m. Future potential commercial building rights (mainly offices and retail) in the
portfolio are estimated to amount to 170,000 sq.m.
FINANCIALPERFORMANCEAND KEYFIGURES
KUNGSLEDEN AB (PUBL) | 24
ALMOST SAME PROFIT AS LAST YEAR DESPITE HEAVY DIVESTMENTS
KUNGSLEDEN AB (PUBL) |
VERY STRONG SURPLUS RATIO IN Q3
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Affected by one-off items
12 MONTHS ROLLING
KUNGSLEDEN AB (PUBL) | 26
COST OF DEBT – A STEADY DECLINE
%
Average debt maturity: 4.0
Average fixed-interest period: 2.5
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STRENGTHENED LOAN TO VALUE - HEADROOM FOR FINANCIAL FLEXIBILITY
LTV Target level of 50 %
KUNGSLEDEN AB (PUBL) |
IMPROVING NET ASSET VALUE PER SHARE
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EARNINGS CAPACITY INVESTMENT PROPERTIESBY URBAN CONCENTRATION
OUTLOOK 2017
KUNGSLEDEN AB (PUBL) |
OUR FOCUS
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▪ New leasing and renegotiation
▪ Implementing investment programme 2017-2019 – yield on cost in excess of 6%
▪ Profit from Property Management is expected to be SEK 1,200 million in 2020 given current conditions
QUESTIONSWELCOME!
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