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1st Quarter 2016 Results
May 10, 2016
10.5.2016 2
A Steady Start to theYear
Net sales up 1.4%, EBITDA up 0.5% on a constant currency
basis
Occupancy 92.5% (93.8...
10.5.2016 3
Unit Occupancy
91,2% 89,7%
96,2% 97,2%
91,8%
95,9%
99,6% 100,0% 99,6%
81,3%
92,5%
82,4%
95,8% 96,5%
92,7%
96,4...
10.5.2016 4
Oulu Situation
Total rentable area in Oulu is 193,900 m2
Financial occupancy in March 2016: 82.4%
24,000 m2 in...
10.5.2016 5
Service Business
70,3 80,7 93 111,1 144,8 150,3 35,8
11,2
12,1
14,2
15,2
16,9 20,3
5,2
13,7%
13,0%
13,2%
12,0%...
10.5.2016 6
FairValue Changes in Q1/2016
EUR million Market
Yield
Related
Occupancy
Assumption
Modernization Other
Changes...
10.5.2016 7
Financing
Q1/2016 2015 2014
Interest bearing debt, EUR million 851.6 864.8 841.9
Fixed rate, % 72.7 71.3 60.0
...
10.5.2016 8
Area Name m² EUR
million
Stabilized
yield, % *
Financial OCR/
Pre -OCR, %
Completion
Tallinn Löötsa 5 9,200 17...
910.5.2016
New Concept: UMA
UMA workspace is Technopolis’ open office
network with 15 coworking spaces mainly
onTechnopoli...
10.5.2016 10
Growth Strategy
Acquisition focus on Scandinavia
Despite the hot transaction market, there
are opportunities ...
10.5.2016 11
Guidance for 2016
Technopolis expects its net sales and EBITDA in 2016 to remain at
the same level (+/- 5%) a...
www.technopolis.fi Find us on: facebook.com/TechnopolisPlc
twitter.com/TechnopolisPlc
Thank you
Appendices:Additional Data
10.5.2016 14
Group
Q1/2016 Q1/2015 2015
Rentable space, m² * 742,950 744,600 740,400
Rent, €/m²/mo. avg. 16.80 16.90 16.99...
10.5.2016 15
Finland
Q1/2016 Q1/2015 2015
Rentable space, m² * 530,650 542,000 526,900
Rent, €/m²/mo. avg. 17.23 17.08 17....
10.5.2016 16
Baltic Rim
Q1/2016 Q1/2015 2015
Rentable space, m² 148,100 139,100 147,000
Rent, €/m²/mo. avg. 14.18 14.26 15...
10.5.2016 17
Scandinavia
Q1/2016 Q1/2015 2015
Rentable space, m² * 64,200 63,500 66,500
Rent, €/m²/mo. avg. 20.13 22.61 21...
10.5.2016 18
Cash Flow from Operations
Improved by 46%
Cash flow from operations / share EUR 0.19 (0.13)
The improvement w...
10.5.2016 19
Group Financial Occupancy
80%
85%
90%
95%
100%
10Yr. Avg.
94.5%
Q1/16
92.5%
10.5.2016 20
Leases
Lease stock, % of space
Maturity in years
March 31,
2016
2015 2014
<1 21 22 17
1-3 22 20 23
3-5 14 15 ...
2110.5.2016
Investment Criteria
Sufficient scale
Good quality assets
Flexibility & adaptability
Location & connections
Ser...
10.5.2016 22
2015-2020 Strategic FinancialTargets
Average net sales and EBITDA growth 10% p.a.
Service penetration 15% by ...
10.5.2016 23
April 30, 2016 # of shares % of shares
Varma Mutual Pension Insurance Comp. 25,448,192 23.9
Ilmarinen Mutual ...
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Technopolis 1st Quarter 2016 Results

  1. 1. 1st Quarter 2016 Results May 10, 2016
  2. 2. 10.5.2016 2 A Steady Start to theYear Net sales up 1.4%, EBITDA up 0.5% on a constant currency basis Occupancy 92.5% (93.8%) due to a drop of 7.3% in Oulu EBITDA margin 53.3% (53.9%) Cash flow from operations/ share EUR 0.19 (0.13) Direct result / share (EPRA) EUR 0.12 (0.12) Service revenue grew by 14.5%, penetration at 12.6% Loan-to-value 56.7% (59.1%)
  3. 3. 10.5.2016 3 Unit Occupancy 91,2% 89,7% 96,2% 97,2% 91,8% 95,9% 99,6% 100,0% 99,6% 81,3% 92,5% 82,4% 95,8% 96,5% 92,7% 96,4% 98,5% 99,5% 99,7% 83,5% 70% 75% 80% 85% 90% 95% 100% Q1-2015 Q1-2016 Group Q1/16 92.5%
  4. 4. 10.5.2016 4 Oulu Situation Total rentable area in Oulu is 193,900 m2 Financial occupancy in March 2016: 82.4% 24,000 m2 in new agreements done in 2015 In Q1 2016 almost 10,000 m2 in new deals signed Another 22,500 m2 needed to reach 95% occupancy Another 13,200 m2 needed to reach 90% occupancy Long-term plan is to divest 50,000 m2 in Oulu Since 2014, we have divested 24,000 m2 Will take a couple of years to reach equilibrium
  5. 5. 10.5.2016 5 Service Business 70,3 80,7 93 111,1 144,8 150,3 35,8 11,2 12,1 14,2 15,2 16,9 20,3 5,2 13,7% 13,0% 13,2% 12,0% 10,4% 11,9% 12,6% 0% 2% 4% 6% 8% 10% 12% 14% 16% 0 50 100 150 200 Service revenues Rental revenues Share of net sales EUR MILLION
  6. 6. 10.5.2016 6 FairValue Changes in Q1/2016 EUR million Market Yield Related Occupancy Assumption Modernization Other Changes Projects in Progress Total Finland 3.4 -0.6 -4.5 -0.8 0.8 -1.7 Baltic Rim 2.0 -1.0 1.9 -1.0 0.9 2.8 Scandinavia 2.5 0.0 -0.6 -2.5 0.0 -0.6 Total 7.9 -1.6 -3.2 -4.3* 1.7 0.5 * Mainly contract changes
  7. 7. 10.5.2016 7 Financing Q1/2016 2015 2014 Interest bearing debt, EUR million 851.6 864.8 841.9 Fixed rate, % 72.7 71.3 60.0 Average interest rate, % * 2.55 2.60 2.43 Capital weighted loan maturity, years 5.8 5.9 6.1 Interest cover ratio, % 4.6 4.3 4.8 Loan to value, % 56.7 58.8 59.7 Equity ratio, % 38.0 39.3 38.5 Cash and equivalents, EUR million 23.1 39.4 28.3 * Excluding the hybrid loan
  8. 8. 10.5.2016 8 Area Name m² EUR million Stabilized yield, % * Financial OCR/ Pre -OCR, % Completion Tallinn Löötsa 5 9,200 17.0 8.8 100 1/2016 Tampere Yliopist. 3&4 11,900 40.5 7.2 62.8 7/2016 Vilnius Delta 21,600 35.4 9.8 52.7 12/2016 Organic Growth Projects Projects in progress total EUR 75.9 million Projects in grey are not completed as per March 31, 2016 i.e. financial occupancy is pre-let rate. * Stabilized yield = estimated net operating income / cost
  9. 9. 910.5.2016 New Concept: UMA UMA workspace is Technopolis’ open office network with 15 coworking spaces mainly onTechnopolis campuses. Each UMA member has an access to Open Offices at all campuses. Newest addition is the flagship UMA Esplanadi in HelsinkiCBD First open office outside of our campus network 100 workstations Different working zones from open to more private Meeting rooms with video connection
  10. 10. 10.5.2016 10 Growth Strategy Acquisition focus on Scandinavia Despite the hot transaction market, there are opportunities that offer excellent strategic fit and good risk-adjusted returns We will not stray from our investment criteria Organic growth opportunities in Ruoholahti,Vantaa,Tallinn, Kuopio etc. Divestitures in Finland to continue
  11. 11. 10.5.2016 11 Guidance for 2016 Technopolis expects its net sales and EBITDA in 2016 to remain at the same level (+/- 5%) as in 2015. Yliopistonrinne CD building under construction inTampere
  12. 12. www.technopolis.fi Find us on: facebook.com/TechnopolisPlc twitter.com/TechnopolisPlc Thank you
  13. 13. Appendices:Additional Data
  14. 14. 10.5.2016 14 Group Q1/2016 Q1/2015 2015 Rentable space, m² * 742,950 744,600 740,400 Rent, €/m²/mo. avg. 16.80 16.90 16.99 Financial occupancy rate, % 92.5 93.8 94.6 Net rental income, EUR million 35.8 36.6 150.3 Net sales, EUR million 41.1 41.2 170.6 EBITDA, EUR million 21.9 22.2 93.0 Market yield requirement, avg., % 7.57 7.71 7.73 Fair value of investment properties, EUR million 1,447.2 1,410.9 1,426.0 * Under renovation Q1/2016: 15,250 m², Q1/2015: 2,400 m², 12/2015: 16,700 m²
  15. 15. 10.5.2016 15 Finland Q1/2016 Q1/2015 2015 Rentable space, m² * 530,650 542,000 526,900 Rent, €/m²/mo. avg. 17.23 17.08 17.02 Financial occupancy rate, % 90.5 92.2 92.9 Net rental income, EUR million 25.2 26.3 107.4 Net sales, EUR million 29.6 30.4 125.0 EBITDA, EUR million 15.8 16.0 69.0 Market yield requirement, avg., % 7.8 7.9 7.8 Fair value of investment properties, EUR million 994.1 958.8 984.8 * Under renovation Q1/2016: 11,800 m², 12/2015: 16 700 m²
  16. 16. 10.5.2016 16 Baltic Rim Q1/2016 Q1/2015 2015 Rentable space, m² 148,100 139,100 147,000 Rent, €/m²/mo. avg. 14.18 14.26 15.15 Financial occupancy rate, % 99.1 99.7 99.5 Net rental income, EUR million 6.4 6.0 25.1 Net sales, EUR million 7.0 6.3 26.8 EBITDA, EUR million 3.9 3.3 14.2 Market yield requirement, avg., % 8.6 8.9 8.7 Fair value of investment properties, EUR million 254.8 242.3 246.7
  17. 17. 10.5.2016 17 Scandinavia Q1/2016 Q1/2015 2015 Rentable space, m² * 64,200 63,500 66,500 Rent, €/m²/mo. avg. 20.13 22.61 21.50 Financial occupancy rate, % 95.8 96.2 97.1 Net rental income, EUR million 4.2 4.4 17.8 Net sales, EUR million 4.5 4.5 18.8 EBITDA, EUR million 2.2 2.3 9.9 Market yield requirement, avg., % 6.1 6.3 6.1 Fair value of investment properties, EUR million 198.3 209.9 194.4 * Under renovation Q1/2016: 3,440 m², 12/2015: -
  18. 18. 10.5.2016 18 Cash Flow from Operations Improved by 46% Cash flow from operations / share EUR 0.19 (0.13) The improvement was due to Decreased working capital EUR 0.035 Decrease in paid interests and fees EUR 0.038
  19. 19. 10.5.2016 19 Group Financial Occupancy 80% 85% 90% 95% 100% 10Yr. Avg. 94.5% Q1/16 92.5%
  20. 20. 10.5.2016 20 Leases Lease stock, % of space Maturity in years March 31, 2016 2015 2014 <1 21 22 17 1-3 22 20 23 3-5 14 15 12 >5 17 19 22 Open-end leases 25 24 26 Av. lease term in months 35 36 39 Lease stock, EUR million 407.7 429.7 455.9 The ten largest customers let approximately 18.7 % of rented space and accounted for 16.3% of rental income. The single largest customer accounted for 4.0% of rented space and 2.2% of rental income.
  21. 21. 2110.5.2016 Investment Criteria Sufficient scale Good quality assets Flexibility & adaptability Location & connections Service infrastructure potential Customer mix potential Competitive valuation with attractive risk-adjusted return
  22. 22. 10.5.2016 22 2015-2020 Strategic FinancialTargets Average net sales and EBITDA growth 10% p.a. Service penetration 15% by 2020 for like-for-like real estate 5.5% return on capital employed p.a. Equity ratio above 35% over the cycle
  23. 23. 10.5.2016 23 April 30, 2016 # of shares % of shares Varma Mutual Pension Insurance Comp. 25,448,192 23.9 Ilmarinen Mutual Pension Insurance Comp. 11,089,647 10.4 City of Oulu 3,511,211 3.3 Technopolis Plc 1,947,571 1.8 Odin Finland 1,418,856 1.3 Laakkonen Mikko 1,226,184 1.2 OP-Pohjola Group 1,215,084 1.1 Odin Eiendom 1,188,660 1.1 The Finnish Cultural Foundation 1,188,042 1.1 Jyrki Hallikainen and company 895,236 0.8 10 largest shareholders, total 49,128,683 46.1 Foreign and nominee registered, total 34,967,460 32.8 Others, total 22,415,489 21.0 Total amount of shares 106,511,632 100 Shareholders

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