Interim Report 1 January - 30 June 2015 - Atrium Ljungberg

Interim Report 1 January - 30 June 2015

  • Net sales increased to SEK 1,187 million (SEK 1,131 m), of which rental income increased to SEK 1,037 million (SEK 981 m).

  • The letting rate increased to 94 per cent (93% as of 31/12/2014), including project properties.

  • The operating surplus from property management increased to SEK 701.4 million (SEK 656.8 m), which corresponds to an operating surplus margin of 68 per cent (67%). The increase in operating surplus can mainly be attributed to completed projects and property acquisitions.

  • The profit before changes in value increased to SEK 461.1 million (SEK 424.2 m).

  • Unrealised changes in the value of properties amounted to SEK 1,184.4 million (SEK 426.1 m) mainly due to the market's lower yield requirements as well as higher rental levels due to renegotiations and new leases. Unrealised changes in the value of derivatives amounted to SEK 204.6 million (SEK –454.5 m) as a result of an increase in market interest rates on longer maturities.

  • The net profit for the period totalled SEK 1,443.9 million (SEK 311.0 m), corresponding to SEK 10.84/share (SEK 2.38/share). The increase is mainly attributable to increased property values, unrealised changes in value of derivatives, as well as an increased operating surplus due to completed projects and property acquisitions.

  • Investments in Atrium Ljungberg’s own properties amounted to SEK 313 million (SEK 345 m).

  • Properties were acquired for a total of SEK 871 million (SEK 620 m).

  • The 2015 profit forecast before changes in value and tax increase to SEK 940 million.

“It is gratifying to be able to summarise the very strong first six months. The operating surplus increased by 7 per cent and the profit before changes in value and tax by 9 per cent. We have had a high level of activity in our business which has resulted in higher net letting and has created further project opportunities for the future.”

“I am also very happy about conducting our first acquisition in Gothenburg. Here, in the city district Lindholmen, we have found exactly what we were looking for, a platform on which we can build both a local organisation and continued expansion,” says Atrium Ljungberg's CEO Ingalill Berglund.  

Nacka 10-07-2015
Atrium Ljungberg AB (publ)

Interim Report Jan-Jun 2015
Press release 10-07-2015 Atrium Ljungberg Interim Report Jan-Jun 2015