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Tobias Kaj ... (+2)
  • Tobias Kaj
  • Victor Krüeger

Fastpartner - ESG profile

The construction and real estate sector leaves carbon footprints through the entire value chain, including production of materials, building and managing properties. Fastpartner refers to a report that states that the real estate sector accounts for 48% of the world’s greenhouse gas emissions. Further, the consumption of renewable energy amounts to 10%. Buildings have an environmental impact and it is important for Fastpartner to minimise the impact by reducing consumption of energy, water and c...

Tobias Kaj ... (+2)
  • Tobias Kaj
  • Victor Krüeger

Fastpartner - Earnings growth above office peers

Recurring PTP growth of 10% and NOI 7% y-o-y in Q1e EPRA NAV to grow 14% in Q1e and 5.1% in ’21e (5.4%) -8% P/CE in ’21e and -5% P/EPRA NAV, vs. sector avg.

Tobias Kaj ... (+2)
  • Tobias Kaj
  • Victor Krüeger

Fastpartner - Fended off COVID-19 and returned to ATHs

2020 IFPM +12% despite 50% office exposure Adj. EPRA NAVPS of SEK 83.8, CEPS SEK 4.25 Ongoing investments in projects of SEK 1,122m (+30%)

Staffan Bulow ... (+2)
  • Staffan Bulow
  • Tobias Kaj

Fastpartner - We expect double-digit growth to continue

Q3 net letting of SEK 11m is better than peers CEPS growth of 5% and 13% in ‘20e and ‘21e ‘21e P/CE of 17x vs. sector average at 18x

Staffan Bulow ... (+2)
  • Staffan Bulow
  • Tobias Kaj

Fastpartner - Q3 rent collection at normal levels

75% of Q3 rent was collected by 1 July - at normal levels CEPS growth of 7% and 12% in ‘20e and ‘21e ‘21e P/CE of 15x vs. sector average at 16x

Staffan Bulow ... (+2)
  • Staffan Bulow
  • Tobias Kaj

Fastpartner - Limited exposure to tenants in risk groups

95% of rental income collected for Q2 CEPS growth of 8% and 12% in ‘20e and ‘21e ‘20e P/CE contraction from ~28x to ~17x in two months

Staffan Bulow ... (+2)
  • Staffan Bulow
  • Tobias Kaj

Fastpartner - Approaching IG rating

‘20e-‘21e CEPS CAGR of 11% K12 acquisition contributes 5% to rental income ‘20e DPS proposal of SEK 1.90 (1.60) vs ABGSCe 1.90

Staffan Bulow ... (+2)
  • Staffan Bulow
  • Tobias Kaj

Fastpartner - In a club that has outperformed the sector

One of the entrepreneur-led real estate success stories ~19% 2020e EPRA NAVPS growth, adj. for dividends CEPS growth of 15% in ‘20e, sector at 6%

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