Interim Report 1 January - 30 June 2018
10 Jul 2018, 10:30
“I am proud that we have received two land allocations from the City of Stockholm in the first six months of the year. The first concerns Mälarterrassen in the emerging Slussen area. The second is for a new and very prominent district in Östra Hagastaden in Stockholm,” said Annica Ånäs,CEO. “Our earnings forecast before changes in value for 2018 remains unchanged at SEK 1,200 million,” Ånäs added.
- Net sales increased to SEK 1,311 million (1,262) with rental Income Increased to SEK 1,198 million (1,191). Rental income in like-for-like portfolio Increased by 4.4 per cent.
- The letting rate amounted to 94 per cent (1/1/2018, 95), including project properties.
- The operating surplus from property management increased to SEK 831 million (823), an increase of 1.0 per cent. The increase is due primarily to new rentals including rentals of projects, renegotiations, lower property costs and the effect of acquired properties. Operating surplus in the previous year was positively affected by a settlement of SEK 40 million from a rent dispute. The operating surplus margin is unchanged at 69 per cent (69).
- The profit before changes in value increased to SEK 621 million (589).
- The unrealised changes in the value for properties amounted to SEK 1,216million (1,356) and are mainly explained by higher net operating income as well as the market's lower yield requirements. Unrealised changes in the value of the derivatives amounted to SEK -72 million (112).
- The net profit for the period amounted to SEK 1,733 million (1,638), corresponding to SEK 13.06/share (12.30).
- Investments in Atrium Ljungberg's own properties increased to SEK 775 million (749).
- Property acquisitions amounted to SEK 167 million (1,823).
- Sales of properties amounted to SEK 127 million (-).
- The forecast for 2018 Is unchanged to SEK 1,200 million for profit before changes in value. The profit after tax is considered to amount to SEK 1,852 million, corresponding to SEK 14.01/share.
Atrium Ljungberg AB (publ)
Interim report Jan-Jun 2018