Summary of the Interim Report:
- Rental income amounted to SEK 3,403 million (3,285).
- Net operating income amounted to SEK 2,566 million (2,435).
- Profit before changes in value and tax amounted to SEK 2,296 million (2,172).
- Changes in the value of investment properties amounted to SEK 5,011 million (5,917).
- Net interest income amounted to SEK -165 million (-167) and changes in the value of financial instruments amounted to SEK 1,307 million (378).
- Profit before tax amounted to SEK 8,615 million (8,457) and profit for the period to SEK 6,837 million (7,013).
- Investments in new buildings, extensions and renovations amounted to SEK 1,178 million (1,430).
- During the year, properties were sold at a value of SEK 714 million (2,264). Profit for capital expenditure amounted to SEK 8 million (29).
- The property yield, excluding properties under construction and development reserves, amounted to 4.6 percent (5.0) for the past 12 months.
"The turmoil in the world remains great and we are now starting to see an impact on the Swedish property market, including in terms of the cost of financing. Despite this, Akademiska Hus stands firm. With our solid finances, our stable customer base with average contract periods and our solid organization, we have a base that now feels extra secure. However, we see that we have had increased project costs and that we are affected by the shortage of building materials. We are constantly analysing our planned and ongoing projects in order to be proactive in managing changed conditions," says Caroline Arehult, CEO of Akademiska Hus.
