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Year-end report 2022: Uncertain world but stable performance
Wednesday, 8 February 2023Year-end report 2022 in brief:
- Rental revenue was SEK 6,845 million (6,568).
- Net operating income totalled SEK 5,143 million (4,707).
- Profit before changes in value and tax was SEK 4,490 million (4,136).
- Changes in property values amounted to SEK 1,108 million (12,481). Changes in value for the fourth quarter totalled SEK -2,249 million (4,472).
- Net interest income amounted to SEK -452 million (-368) and changes in the value of financial instruments amounted to SEK 1,310 million (380).
- Profit before tax was SEK 6,909 million (16,997) and profit for the year was SEK 5,490 million (13,790).
- Investments in redevelopment, extensions and new construction totalled SEK 2,551 million (2,524).
- Properties worth SEK 722 million (2,293) were sold during the year. The capital gain amounted to SEK 8 million (29). Properties worth SEK 110 million (0) were acquired.
- The yield (excluding properties under construction and expansion reserves) was 4.8 per cent (4.7) over the past 12 months.
- The Board of Directors will propose a dividend of SEK 2,905 million (2,484) at the 2023 Annual General Meeting.
“2022 was a turbulent year in many ways. Russia’s invasion of Ukraine rapidly changed the geopolitical landscape and the year has been marked by rising inflation, rising interest rates and record-high electricity prices. Despite the circumstances, we have successfully adjusted to the new conditions to be able to continue to deliver value to our customers and our owner, and to develop our campuses. We have a constant focus on our core delivery in order to achieve the best climate, function and experience in our premises. To sum up, with our unique financial base we have a really strong platform to stand on – which feels especially important when the challenges we face as a property company are greater than ever,” says Caroline Arehult, CEO of Akademiska Hus.