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R8 Property Presentasjon Q1 2019


§ Økonomiske nøkkeltall § Operasjonell portefølje § Utviklingsportefølje § Regnskap og balanse

Q1-19


Ă˜konomiske nøkkeltall


Økonomiske nøkkeltall Q1 2019 Tall i mNOK

Leieinntekter

20,9

Netto inntekter fra eiendomsforvaltning

11,6

Markedsverdi på eiendomsportefølje

1 856,1

Resultat før skatt

25,7


Operasjonell portefølje


Operasjonell portefølje § Endringer / nye leieforhold •

Det er signert nye leiekontrakter med Synlab AS, Takst & Byggforum AS, Amathea Skien, Skien Ølutsalg AS (Gulating) og The Juicery.

§ Total utleiegrad: 87,9% •

Majoriteten av ledigheten er strategisk knyttet til Arkaden Kjøpesenter og Parkbygget i Tønsberg. Prosess med mulighetsstudie under oppstart på Parkbygget.

Det forventes økt utleie i Arkaden Kjøpesenter, Nordre Fokserød 14 samt næringsbygget på Kammerherreløkka i andre kvartal 2019.


Eiendomsporteføljen Pr 31.03.2019 OPERATING SEGMENTS Q1-19 31.03.2019

Area (sqm)

Occupancy (%)

No. Of properties (#)

Wault Market value (yrs) (tNOK)

12 month rolling rent (NOK/sqm) (tNOK) (NOK/sqm)

Net yield (%)

Market rent (tNOK) (NOK/sqm)

Office Retail Hotels Total management portfolio

45 220 26 051 6 282

89,2 82,7 100,0

11 5 1

3,4 8,0 15,0

965 000 410 300 203 500

21 340 15 750 32 394

58 841 23 407 12 150

1 301 898 1 934

5,8 5,0 5,7

72 429 42 061 13 808

1 602 1 615 2 198

77 553

87,9

17

6,6

1 578 800

69 484

94 397

1 217

5,5

114 490

1 476

Project Office Total project portfolio

14 416

87,0

3

11,1

277 250

19 232

14 416

87,0

3

11,1

277 250

19 232

91 969

87,8

20

7,6

1 856 050

88 716

Total property portfolio

The calculation of net yield is based on the valuers’ assumption of ownership costs, which at 31.03.19 corresponds to 10.7 per cent of market rent. R8 Property has one on-going project, the new building (Powerhouse Telemark) in Porsgrunn in the operating unit Office. Parking areas are not included in this overview.


Utviklingsportefølje


Utviklingsportefølje Pr 31.03.2019

§ Powerhouse Telemark – pågående, ferdigstillelse estimert juni 2020 § Eeks Gård Skien – pågående, ferdigstillelse estimert januar 2020 § Application Center – forprosjekt påbegynt § Skien Brygge – forprosjekt påbegynt


Regnskap og balanse


Nøkkeltall All amounts in NOK thousand

Q1-19

Q1-18

2018

20 870 47 % 11 620 15 % 25 657 141 % 20 013 144 %

14 151 1% 10 117 -15 % 10 657 -64 % 8 206 -64 %

70 149 35 % 40 927 1% 70 465 -1 % 60 733 3%

1 856 050 1 210 090 65,2 % 1,4 1 519

986 550 622 064 63,1 % 1,8 1 000

1 731 500 1 123 762 64,9 % 1,3 1 365

All amounts in NOK per share

Q1-19

Q1-18

2018

EPRA NAV Change period-on-period EPRA NNNAV Change period-on-period EPRA Earnings Change period-on-period

388,3 19 % 357,0 21 % 1,3 -61 %

327,0 9% 294,5 11 % 3,4 -35 %

377,4 39 % 346,7 46 % 8,3 -53 %

Rental income Change period-on-period Net income from property management Change period-on-period Profit before tax Change period-on-period Profit after tax Change period-on-period Market value of the property portfolio Net nominal interest-bearing debt Loan to value Interest coverage ratio Number of shares


Resultat All amounts in NOK thousand Q1-19

Q1-18

2018

Rental income Other operating revenue Total operating income

20 870 3 692 24 562

14 151 3 781 17 931

70 149 13 581 83 730

Maintenance and other operating expenses Other property-related expenses Administrative expenses Total operating costs

6 592 119 6 230 12 941

2 978 56 4 780 7 814

17 876 877 24 049 42 803

Net income from property management

11 620

10 117

40 927

Changes in value from investment properties Operating profit

27 113 38 734

237 10 355

37 626 78 553

378 -9 764 -9 386 -3 691 -13 077

215 -5 895 -5 679 5 982 302

14 364 1 304 -30 350 -14 682 6 593 -8 088

25 657 -5 643 20 013

10 657 -2 451 8 206

70 465 -9 732 60 733

Share of profit of a joint venture Interest and other finance income Interest and other finance expense Net realised financials Unrealised changes in value of financial instruments Net financial items Profit before tax Tax expense Profit for period/year


Verdiendringer (tNOK)

2000 000 97 437 1800 000

24 580

2 533

1856 050

1731 500 Verdiendring investeringseiendommer mNOK 27,113

1600 000

1400 000

1200 000

1000 000 Verdi per 31.12.18

Oppkjøp og investeringer i porteføljen

Verdiendring prosjekt

Verdiendring operasjonelt

Verdi per 31.03.19


Balanse - eiendeler All amounts in NOK thousand 31.03.2019

31.03.2018

31.12.2018

Deferred tax assets Intangible assets Investment property Other operating assets Investment in jointly controlled entities, associates and shares Loan to associates and jointly controlled entities Other long-term receivables Total non-current assets

2 671 7 504 1 856 050 5 571 496 9 959 3 032 1 885 283

209 986 550 2 056 11 368 1 000 184

859 7 350 1 731 500 5 733 496 8 921 3 032 1 757 890

Trade receivables Other receivables Cash and bank deposits Total current assets TOTAL ASSETS

14 519 2 685 17 842 35 046 1 920 329

5 554 5 349 2 128 13 031 1 013 215

10 518 16 065 20 490 47 073 1 804 963


Balanse – egenkapital og gjeld All amounts in NOK thousand 31.03.2019 Shareholders equity Non-controlling interest Total equity

31.03.2018

31.12.2018

513 045 50 008 563 053

282 614 1 282 615

484 947 47 358 532 305

Interest-bearing debt Deferred tax liability Financial derivatives Debt to group companies Other liabilities Total non-current liabilities

982 844 74 497 15 086 5 1 072 431

562 433 52 264 12 006 22 246 648 949

953 718 71 647 11 394 1 036 759

Interest-bearing debt Trade payables and other payables Debt to group companies Total current liabilities Total liabilities TOTAL EQUITY AND LIABILITIES

227 246 57 598 284 845 1 357 276 1 920 329

59 631 21 750 270 81 651 730 600 1 013 215

170 044 65 854 235 898 1 272 657 1 804 963


Profile for R8 Property

R8 Property Q1 2019 Presentation  

R8 Property Q1 2019 Presentation  

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