Real estate company SBB has identified and corrected classification errors in its cash flow statement related to the 2024 year-end report, according to a press release.
The errors are linked to the divestment to Public Property Invest and specifically concern reclassifications between operating, investing, and financing activities.
The corrections do not affect earnings, financial position, or total cash flow, but solely the presentation across different cash flow categories.
Following the adjustment, cash flow from operating activities amounts to SEK 1,202 million, compared to SEK -674 million reported in the year-end earnings release.
Samhallsbyggnadsbolaget i Norden AB (SBB), is a Sweden-based company, which owns community properties in the Nordic region, as well as rental apartments in Sweden. The Company’s strategy is to own, manage and develop community service properties and rent-regulated residentials over the long term. The Company also aims to actively conduct project and property development to develop new social infrastructure. SBB’s property portfolio is characterized by a high occupancy rate and long lease contracts. Rental income consists of secure, long-term flows, primarily from Nordic central governments/ municipalities/county councils and from Swedish rent-regulated residentials. The business model builds on property management with secure cash flows from social infrastructure, which are supplemented with three income-generating value-add strategies: Project and property development; Renovations, remodeling and extensions; and Property transactions.
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