Regulatory

Sveafastigheter’s interim report January-September 2024

Sweden’s largest publicly listed pure-play residential company
“Sveafastigheter has shown during the quarter that we are delivering according to our strategy, where the focus is increased profitability and growth. In October we completed the listing of our shares on Nasdaq First North Premier Growth Market and in connection with this welcomed over 10,000 new shareholders. As an independent company with a diversified ownership we have the opportunity to achieve the full potential of our property portfolio and development portfolio. Now the work towards our vision to be Sweden’s best residential company continues”, says Erik Hävermark, CEO of Sveafastigheter.

The period January-September 2024

  • Rental income increased by 20.1 percent and amounted to SEK 1,009m (840). For comparable portfolio rental income increased by 6.0 percent.
  • Net operating income increased by 21.9 percent and amounted to SEK 645m (529). For comparable portfolio, net operating income increased by 6.6 percent.
  • Profit from property management amounted to SEK 123m (123).
  • Changes in property values amounted to SEK -1,383m (-4,073). During the period, SEK 336m was invested.
  • Profit/loss for the period amounted to SEK -1,380m (-3,957).

Third quarter 2024

  • Rental income increased by 19.8 percent and amounted to SEK 357m (298).
  • Net operating income increased by 18.3 percent and amounted to SEK 252m (213).
  • Profit from property management amounted to SEK 85m (97).
  • Changes in property values amounted to SEK -265m (-807). During the quarter, SEK 127m was invested.
  • Profit/loss for the period amounted to SEK -338m (-750).

Significant events during and after the quarter

  • During the quarter construction of three new development projects started: in Stockholm, Nacka and Skellefteå. The projects encompass 540 apartments overall, with a total estimated annual rental value at completion of SEK 82m.
  • During the quarter 80 apartments were completed in a new development project in Karlstad, with an annual rental value of SEK 8m.
  • After the quarter the Company’s shares were listed on Nasdaq First North Premier Growth Market. More than 10,000 new shareholders were added in conjunction with the listing and all debt to owners was repaid.
  • After the quarter Sveafastigheter refinanced bank debt of SEK 1,077m maturing in 2024 with new loan that matures in 2027. The Company also signed a credit facility agreement of SEK 1,000m.

For further information, please contact:
Kristel Eismann, Head of Treasury and IR, ir@sveafastigheter.se

About Sveafastigheter
Sveafastigheter owns, manages and develops people's homes. The property portfolio consists of a wide range of rental apartments in growth regions in Sweden. The buildings are managed and developed with a local presence and commitment. Sveafastigheter develops and builds new sustainable housing where the demand for housing is the greatest. The company’s Certified Adviser is FNCA Sweden AB.

This information is information that Sveafastigheter AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-11-27 07:30 CET.

Attachments
Interim Report January September 2024

Documents