dnb real estate & construction conference entra... · 2019. 10. 1. · 1,0. 2,0. 3,0. 4,0. 5,0....
TRANSCRIPT
DnB Real Estate & Construction Conference20 September 2018
Large and centrally located office porfolio
2
Property portfolio:
1.3 mill sqmPortfolio value :
NOK 44 bn
Net yield:
4.9 %
WAULT:
7.4 yrsPublic tenants:
64 %
Occupancy:
96.7 % Oslo (incl. Sandvika);
72%
Bergen; 9%
Trondheim; 9%
Stavanger; 5%Drammen; 5%
Location by value
Strong rental market, positive outlook
3
• Source: Entra consensus report, average of estimates from leading market specialists in Norwegian market. Nominal rental value growth
Market rental growth and vacancy in Oslo*
• * Source: Entra consensus report, April 2018. Estimates from leading market specialists in Norwegian market
Total transaction volume (NOKbn)*
Prime yield Oslo*
38 3552
4062
123
7487
72 70
0
50
100
150
2010 2011 2012 2013 2014 2015 2016 2017 2018e 2019e
5.8 % 5.2 % 5.3 % 5.2 % 4.7 % 4.1 % 3.8 % 3.7 % 3.8 % 3.9 %
0%
2%
4%
6%
8%
2010 2011 2012 2013 2014 2015 2016 2017e 2018e 2019e
Significant and value adding project portfolio
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Ongoing projects
~ 63,850 sqm
Holtermannsveg 1, TrondheimYield on cost: 6.0 %
Universitetsgata 7-9, Oslo Universitetsgata 2, Oslo
Strømsveien 106, OsloOslo Solar (Lilletorget), Oslo
Tullinkvartalet (UiO), OsloYield-on-cost: 5.5 %
Brattørkaia 17, TrondheimYield on cost: 6.1 %
Schweiggardsgt 15a, OsloTollbugata 1 A, OsloYield-on-cost: 5.1 %
Project pipeline (selected examples)
~ 500,000 sqm
Urban Mountain (BG14), Oslo
4,3 4,3 4,55,0
5,3 5,5 5,55,8 6,0
6,36,6
6,8 7,07,2
0,0
1,0
2,0
3,0
4,0
5,0
6,0
7,0
Q1
15Q
2 15
Q3
15Q
4 15
Q1
16Q
2 16
Q3
16Q
4 16
Q1
17Q
2 17
Q3
17Q
4 17
Q1
18Q
2 18
Profitable growth and strong balance sheet
Rental income and EBIT margin(NOKm)
Cash earnings* (NOK per share)
Loan to value and ICR
5
1 6321 772 1 760
1 8992 075
72%
79%81%
85% 87%
60%
70%
80%
90%
100%
0
500
1 000
1 500
2 000
2 500
2013 2014 2015 2016 2017
70 %
0
0,5
1
1,5
2
2,5
3
3,5
4
20%
25%
30%
35%
40%
45%
50%
Q2-
15
Q3-
15
Q4-
15
Q1-
16
Q2-
16
Q3-
16
Q4-
16
Q1-
17
Q2-
17
Q3-
17
Q4-
17
Q1-
18
Q2-
18
Loan-To-Value (left axis) ICR (right axis)* Annualised, rolling four quarters.
Developing the real estate industry perspective
6
Bricks and mortar The people in the buildingsCustomers/tenants
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ENTRA BUILDINGSWhere the most satisfied people work
Areas of strategic importance
8
Product
Location
Flexibility
Technology
Sustainability
Organisation
Add-on services
2
3
1
4
5 6
7
8
9
Location: Proximity and Density
9
Product
Location
Flexibility
Technology
Sustainability
Organisation
Add-on services
Flexibility
10
Product
Location
Flexibility
Technology
Sustainability
Organisation
Add-on services
Service concepts
11
Product
Location
Flexibility
Technology
Sustainability
Organisation
Add-on services
Technology
12
Product
Location
Flexibility
Technology
Sustainability
Organisation
Add-on services
13
Environmental strategy
SustainabilityProduct
Location
Flexibility
Technology
Sustainability
Organisation
Add-on services
SUSTAINABILITY GOLD AWARD
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OrganisationProduct
Location
Flexibility
Technology
Sustainability
Organisation
Add-on services
Closing remarks
• Strong fundamentals− Market outlook− Quality portfolio with sustainable cash flow− Development portfolio driving growth− Balance sheet
• Strategic focus to develop market leading position
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Next event3rd quarter results October 18, 2018
For more information see www.entra.no/investor-relations