Akelius Residential Property AB Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
February 20, 2023 at 01:30 am EST
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Akelius Residential Property AB (publ) reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported sales was EUR 83 million compared to EUR 58 million a year ago. Net loss was EUR 443 million compared to net income of EUR 1,232 million a year ago. Basic loss per share from continuing operations was EUR 0.13 compared to EUR 0.04 a year ago. Diluted loss per share from continuing operations was EUR 0.08 compared to EUR 0.04 a year ago. Basic loss per share was EUR 0.13 compared to Basic earnings per share of EUR 0.36 a year ago. Diluted loss per share was EUR 0.08 compared to Diluted earnings per share of EUR 0.36 a year ago.
For the full year, the company reported sales was EUR 303 million compared to EUR 212 million a year ago. Net loss was EUR 597 million compared to net income of EUR 2,414 million a year ago. Basic loss per share from continuing operations was EUR 0.18 compared to EUR 0.06 a year ago. Diluted loss per share from continuing operations was EUR 0.11 compared to EUR 0.06 a year ago. Basic loss per share was EUR 0.18 compared to Basic earnings per share of EUR 0.7 a year ago. Diluted loss per share was EUR 0.11 compared to Diluted earnings per share of EUR 0.7 a year ago.
Akelius Residential Property publ AB, formerly Akelius Residential publ AB, is a Sweden-based company active in the real estate sector. It purchases, develops, upgrades and manages residential properties. The Company operates in Sweden, Germany, Canada, the United States and France. Its portfolio includes approximately 41 thousand apartments, located in larger cities, such as Toronto, New York, Hamburg, Berlin, Paris, Stockholm and Gothenburg, among others. The Company's policy is based on the cherry picking strategy, comprising small purchases of apartments with renovation potential, located in developing cities, districts and suburbs; the upgrade of rental apartments to First Class, the standard level of newly built flats; and the sale of turnkey properties. The Company is a parent entity of the Akelius Fastigheter group.
AKELIUS RESIDENTIAL PROPERTY AB 
