Interim Report 1 January - 31 March 2015

  • Net sales increased to SEK 580 million (SEK 562 m), of which rental income increased to SEK 515 million (SEK 495 m).
  • The letting rate amounted to 93 per cent (93% as of 31/12/2014), including project properties.
  • The operating surplus from property management increased to SEK 344.2 million (SEK 328.6 m), which corresponds to an operating surplus margin of 67 per cent (66%). The increase in operating surplus can mainly be attributed to completed projects and property acquisitions.
  • The profit before changes in value increased to SEK 222.7 million (SEK 210.5 m).
  • Unrealised changes in the value of properties amounted to SEK 366.4 million (SEK 0 m) due to lower yield requirements. Unrealised changes in the value of derivatives amounted to SEK -198.5 million (SEK -190.6 m), as market interest rates fell during the period.
  • The net profit for the period totalled SEK 305.7 million (SEK 16.9 m), corresponding to SEK 2.29 /share (SEK 0.13/share). The increase is mainly attributable to an increased operating surplus due to completed projects and property acquisitions as well as increased property values due to lower yield requirements.
  • Investments in Atrium Ljungberg’s own properties amounted to SEK 149 million (SEK 185 m).
  • The 2015 profit forecast before changes in value and tax is unchanged at SEK 920 million.
     

“The profit for the first quarter continues to grow in line with our forecast. The operating surplus is increasing by approximately 5 per cent in a market without inflation growth. The project portfolio is increasing in volume and amounts to approximately SEK 10 billion, but many projects are in an early phase. My assessment is that we will be able to start new projects at the end of 2015 and start of 2016.”

“Currently the market is favourable for property companies and we are well-positioned in the markets where Greater Stockholm is expanding. Our forecast for profit before changes in value and tax is unchanged at SEK 920 million in comparison to SEK 844 million for 2014,” says Atrium Ljungberg's CEO Ingalill Berglund.

Nacka 21-04-2015
Atrium Ljungberg AB (publ)

Interim Report Jan-March 2015
Press release 21-04-2015 Atrium Ljungberg Interim report Jan - March 2015