Interim Report 1 January - 31 March 2018

20 Apr 2018, 10:30

“I am extremely pleased that Convendum has chosen Glashuset. Their concept is a strong complement to our range of modern office solutions. At present, there is a great deal going on in the Slussen area and I see the establishment of Convendum as confirmation of the attractiveness of the location.” comments Atrium Ljungberg’s CEO Annica Ånäs.

Net sales increased to SEK 656 million (591) of which rental income increased to SEK 601 million (567). Rental income in like-for-like portfolios increased by 3.9 per cent.
The letting rate was was 94 per cent (94), including project properties.
The operating surplus from property management increased to SEK 409 million (384), an increase of 6.4 per cent. The increases are due primarily to new rentals, renegotiations, lower property costs and the effect of acquired properties. The operating surplus margin is unchanged at 68 per cent (68).
The profit before changes in value increased to SEK 309 million (274). The unrealised in the value of investment properties totalled SEK 499 million (444) and are mainly explained by the market's lower yield requirements and higher rental levels. Unrealised changes in the value of derivatives amounted to SEK –2 million (35).
The net profit for the period increased to SEK 618 million (622), corresponding to SEK 4.64/share (4.67).
Investments held properties increased to SEK 364 million (351).
Property acqusitions amounted to SEK 0 million (1,846).
The 2018 profit forecast before changes in value and tax amounts to SEK 1,200 million for profit before changes in value. The profit after tax is considered to amount to SEK 1,315 million, corresponding to SEK 9.87/share.