Strong start to the year – continued growth and strong profitability
“Sveafastigheter was established in June 2024, and since January this year we have been managing our entire portfolio of 14,794 apartments. From the very first day, we have worked in a focused manner in line with our strategy, concentrating on operational efficiency and profitable new development. Sveafastigheter is Sweden’s largest publicly listed pure-play residential real estate company and has an extensive development portfolio. In combination with a strong financial position and distinct goals, the way ahead for Sveafastigheter is clear – organic growth and increased profitability. Despite our brief history, and the fact that we have only been managing the entire portfolio as from this quarter, we can see that our financial and operational key ratios are continuing to develop positively”, says Erik Hävermark, CEO of Sveafastigheter.
The period January-March 2025
- Rental income increased by 20.4 percent and amounted to SEK 376m (312). For comparable portfolio rental income increased by 6.1 percent.
- Net operating income increased by 31.3 percent and amounted to SEK 217m (166). For comparable portfolio, net operating income increased by 13.9 percent.
- Profit from property management amounted to SEK 56m (-3).
- Changes in property values amounted to SEK -72m (-579). During the period, SEK 178m was invested.
- Profit/loss for the period amounted to SEK 39m (-714), which is SEK 0.19 per share.
Significant events during and after the quarter
- In February, Sveafastigheter won the Kundkristallen award for the biggest improvement in the service category.
- During the quarter, 122 apartments were completed in the first of two stages for the Barnmorskan 2 property in Umeå.
- After the end of the quarter, Fitch Ratings awarded Sveafastigheter an expected investment grade rating of BBB- with Positive Outlook.
- On 14 April, Stina Carlsson was appointed the new CFO of Sveafastigheter. She will be taking up the post on 1 September 2025, replacing Martina Lous-Christensen, who left the company in January.