Summary of the Interim Report:
- Rental income amounted to SEK 5,115 million (4,898).
- Net operating income amounted to SEK 3,897 million (3,610).
- Profit before changes in value and tax amounted to SEK 3,454 million (3,210).
- Changes in value of investment properties amounted to SEK 3,357 million (8,009). For the quarter, changes in value amounted to SEK -1,654 million (2,092).
- Net interest income amounted to SEK -29 million (-262) and changes in the value of financial instruments amounted to SEK 1,324 million (506).
- Profit before tax amounted to SEK 8,135 million (11,725) and profit for the period to SEK 6,460 million (9,738).
- Investments in new buildings, extensions and renovations amounted to SEK 1,742 million (1,937).
- 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). Properties were acquired during the year at a value of SEK 110 million (0).
- The property yield, excluding properties under construction and development reserves, amounted to 4.7 percent (4.7) for the past 12 months.
"The turbulent times continue to affect the real estate industry and society at large. Therefore, it is extra valuable that we have a robust and flexible organization that can handle the challenges that arise. We have long had a price hedging strategy where we gradually hedge the price of electricity. This means that we can curb the increase in costs, but despite this, when market prices rise, our and our customers' electricity prices will be affected upwards. Like most real estate companies, we also have a clause in our leases that means that rents are increased by inflation measured in CPI. We understand that the higher education institutions, as well as other tenants, can be greatly affected by this. This means that it will be even more important that we support customers in premises efficiency and other areas that affect their costs," says Caroline Arehult, CEO of Akademiska Hus.
Read the report in its entirety here
