FINANCIAL REPORT Q2 2018 2018 Q2 SIGNIFICANT EVENTS Acquisition of - - PowerPoint PPT Presentation

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FINANCIAL REPORT Q2 2018 2018 Q2 SIGNIFICANT EVENTS Acquisition of - - PowerPoint PPT Presentation

Jan 14, 2024 364 likes •609 views

FINANCIAL REPORT Q2 2018 2018 Q2 SIGNIFICANT EVENTS Acquisition of Kylfacket 3 in Stockholm Divestment of Dragarbrunn 19:1 in Uppsala Signing of two new land allocation agreements New zoning plan in place in Nobelberget and project

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SLIDE 1

FINANCIAL REPORT Q2 2018

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2018 Q2 SIGNIFICANT EVENTS

  • Acquisition of Kylfacket 3 in Stockholm
  • Divestment of Dragarbrunn 19:1 in Uppsala
  • Signing of two new land allocation agreements
  • New zoning plan in place in Nobelberget and project start of

the parking garage

  • Initiation of share repurchase programme
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  • Number of properties

53

  • Property value

SEK 43 billion

  • Contracted annual rent

SEK 2.4 billion

  • Lettable area

1,139,000 m2

  • Letting rate

94 %

74% 11% 6%

ATRIUM LJUNGBERG IN BRIEF

9%

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SLIDE 4

SEK 775 MILLION INVESTED IN PROJECT PORTFOLIO

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SLIDE 5

Remaining investment SEK m Ongoing projects 2,100 Potential projects 15,000 17,100

EXTENSIVE PROJECT PORTFOLIO

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SLIDE 6

LIFE CITY

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SLIDE 7 7

BAS BARKARBY

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SLIDE 8 8

NOBELBERGET

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SLIDE 9 9

ACQUISITION IN SLAKTHUSOMRÅDET

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SLIDE 10 10

NEW LAND ALLOCATION IN HAGASTADEN

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NEW LAND ALLOCATION AT SLUSSEN

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SICKLA STATION

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2018 Q2 KEY FINANCIALS

  • Like-for-like income growth 4,4%
  • Operating surplus increase 1,0%
  • SEK 775 million invested in held properties
  • Adjusted gearing ratio of 42,8%
  • ICR of 5
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SLIDE 14

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(MSEK) 2018 Jan-Jun 2017 Jan-Jun Δ % Rental income 1 198 1 191 +0,6% Property costs

  • 367
  • 368
  • 0,1%

Operating surplus 831 823 +1,0% Central administration (property management)

  • 34
  • 26

Project and construction work

  • 22
  • 19

Net financial items

  • 154
  • 188

Profit/loss before changes in value 621 589 +5,4% Change in the value of properties, unrealised 1 216 1 356 Change in the value of properties, realised 11 Change in the value of financial instruments

  • 72

112 Profit/loss before tax 1 776 2 057 Tax

  • 43
  • 419

Profit for the period 1 733 1 638

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SLIDE 15

RENTAL INCOME

15
  • EPRA vacancies 5 percent
  • Net letting is positive by SEK 40 million for the first six months
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RENTAL INCOME AND OPERATING SURPLUS

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CONSOLIDATED ASSETS

(MSEK) 2018 30/6 2017 30/6 Investment properties 42 012 39 981 Goodwill 240 263 Other fixed assets 48 43 Total fixed assets 42 300 40 287 Development properties 880 Current assets 362 606 Liquid assets 100 374 Total current assets 1 342 980 Total assets 43 642 41 267

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SLIDE 18
  • Unrealised gain of SEK 1 216 million
  • The increase is mainly (70%) driven by increased operating

surplus

CHANGES IN PROPERTY VALUE

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SLIDE 19
  • Interest-bearing liabilities of SEK 18.2 billion
  • Adjusted gearing ratio 42.8 %
  • Average interest rate 1.6 %
  • Fixed interest term 4.2 years
  • Capital commitment 3.6 years
  • Five Nordic banks
  • Commercial paper backed by secured credit lines
  • Baa2 credit rating by Moody’s

LOW FINANCIAL RISK AND STRONG KEY RATIOS

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SLIDE 20

INCREASING SHARE OF CAPITAL MARKET DEBT

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OUTLOOK 2018

Profit before changes in value

SEK 1 200 MILLION

(1 180)

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Q&A

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SLIDE 23

THANK YOU!