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ABGSC Construct. & Real Estate Research ... (+4)
  • ABGSC Construct. & Real Estate Research
  • Fredrik Stensved
  • Markus Henriksson
  • Viktor Stenlöf

Awaiting news of Polish acquistions

Quarterly miss brings down CEPS 2024e by -4%. Awaiting news on Polish acquisition agenda. Share trading at 18% discount to sector.

ABGSC Construct. & Real Estate Research ... (+4)
  • ABGSC Construct. & Real Estate Research
  • Fredrik Stensved
  • Markus Henriksson
  • Viktor Stenlöf

Eastnine AB: 1 director

A director at Eastnine AB bought 21,816 shares at 155.274SEK and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly ...

Victor Krüeger
  • Victor Krüeger

Eastnine - Added thoughts regarding pot. divestment

Acquisition headroom of ~65% of current property value Could expand at ~6.5% and buy back shares at ~8.8% ~20% net LTV if divestment comes through

Victor Krüeger
  • Victor Krüeger

Eastnine - ~20% net LTV if divestment comes through

Better occupancy and opex, slightly lower indexation Positive NAV effect from MFG divestment Stable operations and finances – with growth potential

Victor Krüeger
  • Victor Krüeger

Eastnine - Continued operational momentum

NOI increased 49% y-o-y, 2% vs. ABGSCe Value gains of -0.4% vs. ABGSCe +0.2% Positive net leasing and improved occupancy rate

Victor Krüeger
  • Victor Krüeger

Eastnine - Divests Melon Fashion Group

~12% positive NAV impact Net LTV goes from ~52% to ~20% all else equal Uncertainty around regulatory approval

Victor Krüeger
  • Victor Krüeger

Eastnine - Faring well in this environment

Limited impact from energy costs & high indexation … with NOI up ~4-5% and CEPS down ~2-6% Share trading ~30% below Swedish office peers

Fredrik Stensved ... (+3)
  • Fredrik Stensved
  • Markus Henriksson
  • Victor Krüeger

Sector Fast Comment - Rate hike impact on commissioned coverage

The Swedish Riksbank has hiked the repo rate by 100bps... …we have mapped out how this effects our coverage See sensitivity analysis below

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