SAMHÄLLSBYGGNADSBOLAGET I NORDEN AB (PUBL): Interim Report January – March 2020 in brief:

• Rental income increased to SEK 1,341m (429).

• The operating surplus increased to SEK 895m (240).

• Cash flow from operating activities before changes in working capital was SEK 444m (97).

• Profit before tax increased to SEK 1,695m (394), of which:

  • Profit from property management is included with SEK 319m (106). The management result includes costs for early repayment of loans and other non-recurring costs of SEK -147m (-25).
  • Changes in value of properties are included with SEK 1,628m (252).
  • Changes in the value of derivatives are included with SEK -252m (9).

• Profit for the period was SEK 1,372m (216) after deduction of deferred tax of SEK -275m (-116) and current tax of SEK -48m (-17), corresponding to earnings per ordinary share A and B of SEK 0.94 (0.20) before dilution.

• The value of the property portfolio amounted to SEK 80.2bn (79.5).

• Long-term net asset value (EPRA NRV) calculated in accordance with EPRA’s new guidelines for net asset value calculations was SEK 24,758m (24,784), corresponding to SEK 19.52 (20.04) per share.

SBB has a has a very strong financial position with just over SEK 50 billion in unencumbered assets, strong banking relationships and access to the European credit market, which the company clearly demonstrated by being able to issue a 20 year bond in the middle of the crisis. SBB had cash of SEK 3,8 billion at the end of the quarter. Access to capital is important, but it is even more important to deliver strong cash flows from operations. Cash flow from operating activities before changes in working capital increased by 358 percent to SEK 444m (97) for the quarter. Adjusted for non-recurring effects for the buyback of expensive loans and restructuring costs, cash flow landed at SEK 591m (122). The strong increase in net operating income by 273 percent to SEK 895m is promising for the future. The crises come and go and one should be humble before this, but our job is to be a reliable and long-term social participant who in a sustainable way delivers shareholder value, good profitability and strong results.

Ilija Batljan
CEO and Founder

Attachment: Interim Report January – March 2020

The Interim Report can also be found in the following link:

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, 2020, at 08:00 CET.