January–December 2022
· Rental revenue increased to
· Net operating income increased to
· The result before tax was SEK –1,983 M (4,089) during the year, of which:
- Income from property management is included in an amount of
- Change in property values is included in an amount of SEK –2,238 million (3,887).
- Change in the value of financial instruments is included in an amount of
· The result for the year amounted to SEK –1,355 M (3,226) after deferred tax of
· Cash flow from operating activities before changes in working capital amounted to
· At year-end, the value of the property portfolio was
October-
· Rental revenue increased to
· Net operating income totaled
· The result before tax for the quarter was SEK –1,423 M (3,396), of which:
- Income from property management in included in an amount of
- Change in property values is included in an amount of SEK –1,419 M (3,334).
- Change in the value of financial instruments is included in an amount of
· The result for the quarter was SEK –841 M (2,703) after deferred tax of
· Cash flow from operating activities before changes in working capital amounted to SEK 23 M (34).
Significant events during the fourth quarter
· On
· On
· An Extraordinary General Meeting of
· At the end of the fourth quarter, the company acquired properties from SBB at a value of
· At the end of the fourth quarter, Neobo entered into a loan agreement of
Events after the end of the year
· Shares of Neobo were listed on the Nasdaq First North Premier Growth Market on
· In the beginning of the year, Neobo completed refinancing of existing external financing of
·2023 is Neobo's first year of operation as an independent company. The Board of Directors proposes to the Annual General Meeting that no dividend will be paid for the financial year 2022.
CEO STATEMENT
Strong financial position and good market conditions
There was a considerable amount of activity in the fourth quarter and it feels good to be able to present Neobo’s first year-end report as an independent, freestanding housing company listed on the Nasdaq First North Premier Growth Market.
Neobo’s current Group structure was created during the fourth quarter of 2022 and the company was spun off to SBB’s shareholders at year-end. The foundation of Neobo’s property portfolio was the properties that existed in
The 2022 results for Neobo are based on the property portfolio that existed in the Group at
Strong financial position
We have devoted great effort to ensuring that Neobo has a strong financial position and a stable capital structure based solely on bank financing. As of
Committed employees
Another prioritized aim has been to build an efficient organization and I am extremely proud to state that, since year-end, we have both a property management organization and a management team in place that are committed to the further development of Neobo.
The property management organization comes from SBB and has long-standing experience of our property portfolio and has maintained a close dialogue with our tenants, which is a prerequisite for active and value-generating property management. I have also recruited a management team with considerable drive and extensive experience of the property and stock markets.
Favorable market conditions
Neobo is active in municipalities with a population growth that slightly exceeds the national average and with a good rate of employment. Most of the municipalities also state that they are experiencing a housing shortage. This factor, together with a low rate of new production of residential properties, creates favorable market conditions for Neobo and we will devote great effort to reducing our vacancies during the current year. Rent negotiations are currently under way for 2023 and, although we will not secure compensation for the entire rate of inflation during the current year, we note that rents for residential properties in
I am looking forward to leading and developing Neobo as a freestanding listed company. With our dedicated employees and financial strength, we have the best prerequisites in the prevailing market situation for adding value to the property portfolio and generating value for our tenants and owners.
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