Pandox Ab Class B · OMXSTO:PNDX_B
Pandox Ab Class B — FY2016 Earnings Presentation
14 slides from Pandox Ab Class B's earnings presentation, Feb 16, 2017
Slide 1: Strong end to a strong year
Strong end to a strong year Year-end report January-December 2016 Anders Nissen, CEO Stockholm, 16 February 2017 Liia Nõu, CFO Forward-looking statements PANDOXas–various This presentation contains forward-looking statements. Such statements are subject to risks and uncertainties EXCELLENCE factors,
Slide 2: A strong fourth quarter 2016…
A strong fourth quarter 2016… 1 Strong hotel market. 20% 2 Profitable acquisitions. Return on equity1 3 Good return on investments. 19% 2% 10% Growth in NOI Growth in NOI Growth in cash earnings2 Property Management3 Operator Activities3 1) Measured as growth in EPRA NAV including dividend and exclu
Slide 3: …and a solid full-year 2016
…and a solid full-year 2016 1 Strong and dynamic hotel market. 20% 2 Profitable acquisitions and investments. Return on equity1 3 High business tempo and efficiency. 19% 7% -1% Growth in NOI Growth in NOI Growth in cash earnings2 Property Management3 Operator Activities3 1) Measured as growth in EPR
Slide 4: Delivering on our promises
Delivering on our promises Main achievements from listing Profitable acquisitions and divestments 26 hotels acquired for MSEK 8,300. Divestment of nine non-core assets for MSEK 1,000. Expansion of lease portfolio Almost 40 acquired, extended and new long-term revenue-based lease agreements. Ac
Slide 5: Portfolio overview including the new assets
Portfolio overview including the new assets Increasingly well-diversified portfolio with 60/40 Nordic/International Focused strategy on large hotel properties in the upper-medium to high-end segments in strategic locations. 3% Active ownership model combining a large, attractive portfolio with excel
Slide 6: Sustained growth in important hotel markets (RevPAR Q4 y/y)
Sustained growth in important hotel markets (RevPAR Q4 y/y) Key markets Europe 16% 14% 7% 14% 6% 6% 12% 10% 10% 5% 8% 4% 6% 6% 3% 3% 3% 3% 4% 3% 2% 2% 2% 0% 0% 0% 1% -2% -1% 0% Q3 2016 Q2 2016 Q4 2015 Q1 2016 Q4 2016 -4% -4% -6% Brussels Helsinki Oslo Berlin Frankfurt Stockholm Montreal Copenhagen P
Slide 7: Financial highlights October–December 2016
Financial highlights October–December 2016 Strong end to a strong year Key figures Comments on the quarter Q4 Q4 chg FY FY chg Property Management: LFL1 growth in (MSEK) 2016 2015 % 2016 2015 % revenue and net operating income of 6 Revenue percent and 2 percent, respectively. Property Management (No
Slide 8: Continued organic growth in rental income and NOI
Continued organic growth in rental income and NOI Property Management, comments on the fourth quarter 2016 Net operating income Rental income Oct-Dec 2016 in % Q4 Q4 FY FY 3% (MSEK) 8% 2016 2015 2016 2015 Rental income 433 351 1,717 1,431 10% Other property income 25 14 70 112 Costs* -90 -59 -292 -2
Slide 9: Improved profitability in Brussels
Improved profitability in Brussels Operator Activities, comments on the fourth quarter 2016 Net operating income Revenues Oct-Dec 2016 in % (MSEK) Q4 Q4 FY FY 2%1% 2016 2015 2016 2015 6% Revenue 619 536 2,158 2,046 31% 16% Costs -528 -471 -1,866 -1,767 Gross Profit 91 65 292 279 Add: Depreciation in
Slide 10: Property portfolio
Property portfolio Cash flow and yield compression explain value increase Change Changeininvalue valueInvestment (MSEK) properties Comments per 31 December 2016 MSEK Investment Properties, beginning of the period (Jan 1, 2016) 25,062 Total property portfolio market value + Acquisitions +3,970 amount
Slide 11: Financing and capital structure
Financing and capital structure Solid growth in EPRA NAV and loan to value compression y/y Liquid funds and long-term EPRA Net Asset Value (MSEK) Loan to value (gross) (%) unutilised credit facilities (MSEK) EPRANAV per share, SEK Directed share issue in December 2016 19,883 secures MSEK 1,012 2,232
Slide 12: A summary of the main drivers for growth in cash earnings
A summary of the main drivers for growth in cash earnings Opportunistic acquisitions Operations Portfolio investments Quality portfolio Market growth Organic growth PANDOX – EXCELLENCE IN HOTEL OWNERSHIP & OPERATIONS 12
Slide 13: Q&A
Q&A PANDOX – EXCELLENCE IN HOTEL OWNERSHIP & OPERATIONS 13
Slide 14: Financial calendar
Pandox AB (publ) Interim address: Box 15 Financial calendar: SE-101 20 Stockholm Sweden 29 March 2017 – Annual General Meeting Visiting address: Vasagatan 11, 9th floor Stockholm 4 May 2017 – Interim report Q1, January–March 2017 Sweden www.pandox.se 9 May 2017 – Capital Market Day 2017