- Net revenue from property management was
SEK 524 million (503), an increase of 4 per cent. Including intra-Group rental revenue, net revenue from property management wasSEK 573 million (551).
- Gross profit from property management increased by 5 per cent, totalling
SEK 346 million (331). Including intra-Group rental revenue, gross profit from property management wasSEK 395 million (379).
- Net result for the period was
SEK -396 million (-499), equivalent toSEK -1.96 per share (-2.47). The negative result can be attributed to negative unrealised changes in the value of the property holdings.
- The fair value of the property holdings was
SEK 46.2 billion (46.7 at year-end), resulting in net reinstatement value (EPRA NRV) ofSEK 180 per share (185 at year-end). Unrealised changes in the value of the property holdings amounted toSEK -759 million (-906) for the period.
- The equity ratio was 58 per
cent (60) , the net loan-to-value ratio was 22 percent (20) and the interest coverage ratio was 4.0 (6.2).
- The rental vacancy rate at the end of the period was 9.2 per
cent (8.5) . Excluding current development projects, the rental vacancy rate was 7.1 percent (5.4) .
Comments from
" The first quarter of the year was affected by the weak economy. The vacancy rate increased slightly and the letting processes are taking longer, but gratifyingly, a number of new leases were signed during the period. For example, the office spaces in the Fyran property in Nordstan and NK in
The retail sector remains challenging. However, we experience that retailers and brands are becoming more optimistic about the future. The strongest interest in retail premises has been in Bibliotekstan in
Questions can be answered by:
Anders Nygren, President, and Åsa Roslund, Vice President and CFO,
telephone +46 8 762 90 00.
Appendix: Interim Report January -
The information in this Interim Report is information that
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