Public Property Invest (PUBLI) Stockholm Corporate Finance Conference 2025 summary

Company overview and strategy

• Focuses on owning, managing, and developing social infrastructure properties in the Nordics, primarily with public sector tenants.

• Established in 2021, listed on Oslo Børs in April 2024, marking the first IPO on the exchange that year.

• Portfolio is mainly in Norway, with recent expansion into Sweden and Finland.

• Maintains a high occupancy rate of 98% and a weighted average lease term of 6.8 years.

• Pursues an opportunistic growth strategy and aims to be a market consolidator.

Financial performance and capital structure

• Annual rental income increased from 600 million to over 1 billion NOK post-IPO.

• Achieved a BBB rating from Fitch and maintains a conservative financial policy with net debt/EBITDA at 7.8x and LTV at 44.1%.

• Raised 5.3 billion NOK in equity through recent transactions, including a major deal with Aker.

• Reported positive value changes in the latest quarter, driven by lease renegotiations and new agreements.

• Began dividend payments in July, supported by a strong cash position of nearly 4.8 billion NOK.

Portfolio and tenant profile

• Holds 96 properties totaling over 600,000 sqm, with 270,000 sqm in development potential.

• 80-90% of tenants are public sector entities, including police stations, courts, universities, and government offices.

• Average tenant duration exceeds 18 years, with a near 100% renewal rate in 2024.

• Recent acquisitions have diversified the portfolio into care homes and industrial infrastructure.

• Major Aker transaction added significant industrial infrastructure assets and made Aker a 24.6% shareholder.