SAMHÄLLSBYGGNADSBOLAGET I NORDEN AB (PUBL): PERIOD IN BRIEF

  • Rental income increased to SEK 390m (236).
  • Net operating income increased to SEK 233m (131).
  • Cash flow from operations before changes in working capital was SEK 39m (32).
  • Profit before tax amounted to SEK 151m (846), of which:
    • Income from property management was SEK 73m (35). Adjusted for one-time effects, the property management amounted to SEK 103m.
    • Unrealised value changes of properties excluding building rights totalled SEK 73m (644).
    • Unrealised value changes relating to building rights totalled SEK 1m (171).
    • Realised value changes relating to properties amounted to SEK -0.4m (-4).
    • Unrealised value changes of derivatives totalled SEK – 4m (0).
  • Net income after tax for the period amounted to SEK 113m (648) after deduction for deferred tax of SEK -29m (-190) and current tax of SEK -9m (-8); corresponding to earnings per share of SEK 0.19 (1.59) before dilution.
  • The value of the property portfolio increased to SEK 24bn (17).
  • Long term net asset value (EPRA NAV) increased to SEK 7,360m (7,120), corresponding to SEK 9.97 (9.65) per share.
  • Renovation of 91 apartments started during the quarter.
  • Surplus ratio increased to 60% (55%).

”-We are building the Nordic region’s leading company for community service properties and rent regulated residentials with strong cash flows. During the first quarter, we continued to focus on strengthening our financial position by repurchasing bonds and repaying all shareholder and mezzanine loans. We continue value creation by negotiating increased rents after refurbishment of 1,279 apartments. During the first quarter, renovation of 91 apartments (50 were completed during the quarter) started. In total an additional 360 apartments are being prepared for renovations this year. We also started investing in the rebuilding and extension of several community properties. “

Ilija Batljan, CEO and Founder

Enclosure: Interim Report January – March 2018

 

For further information, please contact:

Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, +46 70 518 39 67, [email protected]

This information is information that Samhällsbyggnadsbolaget i Norden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above on April 27, 2018, at 08.00 CET.