Interim Report 1 January - 30 September 2017
“We have continued strong development of the operating surplus which increased by twelve per cent for the first three quarters. Rental income in like-for-like portfolios has increased by approximately four per cent.
"We are maintaining the high investment rate and are working on several development projects now. I’m particularly happy about the fact that we are continuously expanding with new project opportunities”, comments CEO Annica Ånäs.
- Net sales increased to SEK 1,890 million (SEK 1,711 m) of which rental income increased to SEK 1,786 million (SEK 1,597 m). Rental income in like-for-like portfolios increased by 3.8 per cent.
- The letting rate was 94 per cent (94% as per 01/01/2017), including project properties.
- The operating surplus from property management increased to SEK 1,246 million (SEK 1,115 m), an increase of 11.7 per cent. The increase is primarily the result of acquired properties and a settlement in a rent dispute but also contributions from new lettings and renegotiations. The operating surplus margin is unchanged at 70 per cent (70%).
- The profit before changes in value increased to SEK 909 million (SEK 737 m).
- The unrealised changes in the value for properties increased to SEK 1,688 million (SEK 1,289 m) and are mainly explained by higher rental levels, but also by the market’s lower yield requirement. Unrealised changes in the value of derivatives amounted to SEK 136 million (SEK -613 m) as market interest rates during the period increased on the terms covered by the derivatives.
- The net profit for the period increased to SEK 2,162 million (SEK 1,121 m), corresponding to SEK 16.23/share (SEK 8.41/share).
- Investments in in Atrium Ljungberg’s own properties increased to SEK 1,171 million (SEK 620 m).
- Acquisition of properties increased to SEK 1,823 million (SEK 1,467 m).
- The 2017 profit forecast before changes in value and tax increased by SEK SEK 15 million to SEK 1,150 million. The 2017 profit forecast after tax amounts to SEK 2,322 million, corresponding to SEK 17.43/share.
Atrium Ljungberg AB (publ)
For further information, please contact:
Annica Ånäs, CEO Atrium Ljungberg, +46(0)70-341 53 37
Martin Lindqvist, CFO Atrium Ljungberg, +46(0)70-927 60 09
This information is information that Atrium Ljungberg AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CET on 18 October 2017.
Atrium Ljungberg is one of Sweden's biggest listed property companies. We are located in growth markets in Stockholm, Uppsala, Malmö and Gothenburg. Our focus is on owning, developing and managing primarily retail and office property In order to create exciting urban environments that are sustainable in the long run, attractive over time and have space for education, culture, services and housing. The total letting area is over one million square metres, distributed among around fifty properties and valued at SEK 41 billion. The retail hubs draw 60 million customers and visitors on an annual basis and the areas include more than 30,000 workers and students as well as 1,000 residents. Atrium Ljungberg is listed on the NASDAQ Stockholm Large Cap list.
Find out more at: www.al.se