Akademiska Hus year-end report for 2016
Wednesday, 15 February 2017Sustainable investments for Sweden as a nation of knowledge
Akademiska Hus reports a strong performance for 2016. We continue to place great emphasis on developing our campus plans together with the centres of education and to build in line with our mission, based on the needs of our customers.
Student housing continues to be top priority for us and for Sweden’s centres of education. We are active in a number of cities where more than 11,000 student housing units are being built on campus.
“To ensure even better deliverables moving forward, we have also worked intensively on efficiency and development issues to prepare for the new process-focused organisational structure that became effective on January 1, 2017,” says Kerstin Lindberg Göransson, President of Akademiska Hus.
Akademiska Hus has a substantial project portfolio that includes important investments in high-tech research facilities and other new construction projects. Approved and planned projects at year-end totalled SEK 16.7 billion. Our investment in the Albano Campus, which will be one of Sweden’s foremost educational and research centres, totals SEK 3.2 billion and is one of our largest projects ever. Biomedicum in Solna, which will be one of the largest laboratories in Europe, is another important investment in the future.
Examples of investment decisions taken during the year include the “Laboratory of the Future” on the Flemingsberg Campus, and a major project involving the redevelopment and extension of property on the Näckrosen Campus in Gothenburg.
FULL YEAR
- Rental revenue was SEK 5,482 million (5,450).
- Net operating income totalled SEK 3,667 million (3,740), a decrease of SEK 73 million, primarily attributable to higher management costs in projects.
- Net changes in property values had an impact on profit of SEK 3,682 million (2,655).
- Profit before tax amounted to SEK 6,714 million (6,141) and profit for the year was SEK 5,148 million (4,780). The increase can be attributed to positive changes in property values but reduced by a lower net financial income.
- The value of the property portfolio amounted to approximately SEK 73 billion.
- Investment in redevelopment and new construction totalled SEK 2,761 million (2,499).
- The yield was 5.7 per cent (6.4). The decline can be explained by an increase in property value while net operating income remained essentially unchanged.
- Return on operating capital was 6.2 per cent (6.9).
- The equity ratio is 41.4 per cent (40.7).
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