SAMHÄLLSBYGGNADSBOLAGET I NORDEN AB (PUBL): YEAR IN BRIEF

  • Rental income increased to SEK 1,996 million (1,680).
  • Net operating income increased to SEK 1,265 million (1,071).
  • Cash flow from operating activities before changes in working capital totalled SEK 745 million (248).
  • Profit before tax amounted to SEK 3,137 million (1,904), of which:
    • Profit from property management was SEK 645 million (321). The profit from property management includes costs for early redemption of loans and other non-recurring costs of SEK -300 million (-147).
    • Unrealized changes in value on properties are included at SEK 2,453 million (1,575), of which unrealized changes in value as a result of building rights are included at SEK 338 million (177).
    • Profit for the period amounted to SEK 2,624 million (1,690) after deduction of deferred tax of SEK -479 million (-212) and current tax of SEK -34 million (-2), corresponding to earnings per ordinary A and B share of SEK 2.97 (2.07) before dilution.
  • The value of the property portfolio amounted to SEK 79.5 billion (25.2).
  • Long-term net asset value (EPRA NAV) increased to SEK 24,855 million (8,736), corresponding to SEK 20.04 (11.55) per share.
  • SBB’s average interest rate in the past 12 months decreased from 2.44 percent to 1.76 percent.
  • The company’s board of directors proposes an initial dividend of SEK 0.60 (0.25) per ordinary A and B share, a dividend of SEK 2 (2) per D share and dividend of SEK 35 (35) per preference share, to be paid quarterly.

THE FORTH QUARTER IN BRIEF

  • Rental income increased to SEK 596m (453).
  • Net operating income increased to SEK 362m (274).
  • Profit before tax was SEK 1,611m (700), of which the profit from property management was SEK 137m (28). The profit from property management result includes costs for early redemption of loans and other non-recurring financing costs of SEK -150m. Changes in value of properties included by SEK 1,317m (671).
  • Net income after tax for the quarter amounted to SEK 1,287 million (691), corresponding to earnings per share of SEK 1.51 (0.83) before dilution.

”SBB delivered one of the strongest increases in the long-term net asset value (EPRA NAV) ever: Long-term net asset value (EPRA NAV) was 20.04 per ordinary A and B share, corresponding an increase of 73 percent for the last 12 months. Profit before tax was SEK 3,137 million and profit after tax was SEK 2,624 million. Adjusted for non-recurring costs for repayment of expensive loans and deductions for profit attributable to preference shares, D shares and hybrid bonds, earnings for the year were SEK 3.36 per ordinary A and B share. Our adjusted earnings capacity from property management would end up at SEK 2,845 million, corresponding to an increase of 126 per cent per ordinary A and B share since the end of 2018,” comments Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB.

Attachment: Year-end Report January – December 2019 

The year-end report can also be found in the following link: sbbnorden.se/en/investor-relations-main/reports/.

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 February 19, 2020, at 08:00 CET.