Samhällsbyggnadsbolaget

The year in brief:

• Rental income amounted to SEK 3,708m (4,581).
• Rental income increased by 5.5 percent in comparable portfolios.
• Net operating income amounted to SEK 2,572 million (3,209).
• Net operating income increased by 7.1 percent in comparable portfolios.
• Profit from property management, excluding exchange rate differences, amounted to SEK 1,728m (2,304).
• Cash flow from operating activities before changes in working capital was SEK 546m (1,222).
• The loss before tax amounted to SEK -7,174m (-20, 722), of which:
  • Profit/loss before financial items, changes in value of properties and goodwill are included in the amount of SEK 1,627m (2,241), including acquisition and restructuring costs of SEK -25m (-90).
  • Changes in value of properties are included in the amount of SEK -5,422m (-13,321).
  • Goodwill reversal regarding deferred tax amounted to SEK -351m (-227) and goodwill impairment amounted to SEK -1,076m (-).
  • The loss from joint ventures and associated companies was included in the amount of SEK -1,611m (-5,560).
  • Financial items amounted to an expense of SEK 98m (-1,258), of which profit from the early redemption of loans is included in the amount of SEK 1,138m (-36) and exchange rate differences in the amount of SEK -328 m (-144).
  • Changes in the values of financial instruments are included in the amount of SEK -193m (-2,580).
• The loss for the period amounted to SEK -6,153m (-21,874) after the deduction of deferred tax of SEK 1,646m (2,796) and current tax of SEK -625m (-443), corresponding to a loss per Class A and B ordinary share of SEK -4.54 (-16,00) before dilution.
• The value of the property portfolio amounted to SEK 55,653m (73,205).
• Long-term net asset value (EPRA NRV) was SEK 12,598m (18,635), corresponding to SEK 8.66 (12.81) per share before dilution.

The fourth quarter in brief:

• Rental income amounted to SEK 792 m (1,069).
• Net operating income amounted to SEK 537 m (713).
• Cash flow from operating activities before changes in working capital was SEK 199m (-276).
• Profit before tax amounted to SEK -878m (-2,833)

“By the end of 2025, the objective is to increase quality and normalize the central cost level, entailing a significant reduction in the cost level. The discontinuance of the legal dispute increases the ability to utilize cost-efficient structures and makes it easier to operate in both the banking and capital markets.”

Leiv Synnes, CEO

Links
Webcast – Year-End Report 2024