As partners in innovation, Akademiska Hus powers development of the future

In late May Akademiska Hus broke ground for an important initiative. Akademiska Hus is investing SEK 380 million in the project, which relates to phase 2 of the expansion of Johanneberg Science Park on the Chalmers campus in Gothenburg. A 9,500 square metre “Working Lab” will be built here and an array of innovative projects will be carried out both during and after construction. Through partnerships with Chalmers, Johanneberg Science Park, RISE, and others, the construction project will be a test bed for various solutions, and Akademiska Hus is taking a new step as both a property company and a participant in the innovation system.

“When the building is completed in about two years, it will be a meeting place for business, academia and other participants from the built environment industry,” says Kerstin Lindberg Göransson, CEO, Akademiska Hus.

Ground was also broken during the quarter for the Valla Student Building in Linköping, an investment that will total about SEK 400 million.

One of Akademiska Hus’ buildings also became the thousandth structure to receive certification in compliance with Miljöbyggnad standards. Part of the ABE School on the KTH Campus in Stockholm achieved a Gold rating in the Miljöbyggnad system. 

Interim Report in brief

JANUARY–JUNE

• Rental revenue was SEK 2,782 million (2,740).
• Net operating income totalled SEK 1,962 million (1,905), an increase of SEK 57 million attributable to completion of new buildings.
• Changes in property values with an impact on profit totalled SEK 1,917 million (2,058), corresponding with 2.6 per cent (3.1) of the value of the properties.
• Changes in the value of financial instruments amounted to SEK -199 million (-268).
• Profit before tax for the period amounted to SEK 3,547 million (3,504) and profit for the period was SEK 2,744 million (2,737). The increase is attributable to changes in property values.
• Investment in redevelopment and new construction during the period totalled SEK 1,536 million (1,237).
• The yield (excluding properties under construction) was 5.5 per cent (6.0) on a rolling 12-month basis. The decline can be explained by an increase in property value while net operating income remained unchanged.

SECOND QUARTER

• Rental revenue was SEK 1,373 million (1,358).
• Net operating income was SEK 969 million (958), an increase of SEK 11 million, attributable to completion of new buildings.
• Changes in property values amounted to SEK 1,015 million (1,750). The change relates to a minor increase in value in the second quarter compared with the same period in 2016, which can be attributed to a relatively minor reduction of yield targets.
• Net interest income improved by SEK 28 million to SEK -43 million.
• Pre-tax profit was SEK 1,809 million (2,513). The reduction is mainly attributable to a lower change in property values.

• Finance