Akademiska Hus Interim Report 1 January – 30 June 2022Friday, 8 July 2022
The Interim Report in brief:
- Rental revenue was SEK 3,403 million (3,285).
- Net operating income amounted to SEK 2,566 million (2,435).
- Profit before changes in value and tax was SEK 2,296 million (2,172).
- Changes in property values 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 was SEK 6,837 million (7,013).
- Investments in redevelopment, extensions and new construction totalled SEK 1,178 million (1,430).
- Properties worth SEK 714 million (2,264) were sold during the year. The capital gain amounted to SEK 8 million (29).
- The yield (excluding properties under construction and expansion reserves) was 4.6 per cent (5.0) over the past 12 months.
“The turmoil in our world persists and we are now beginning to see an impact on the Swedish property market, including in terms of the cost of financing. Nevertheless, Akademiska Hus is in a stable position. With our solid finances, our stable customer base with long average lease terms and our solid organisation, we have a base that now feels extra secure. However, we can see that our project expenses have risen and we are affected by the shortage of building materials. We constantly analyse our planned and ongoing projects in order to be proactive in our management of changing circumstances,” says Caroline Arehult, CEO of Akademiska Hus.