Interim Report January-March 2020
“The profit for the first quarter is stable, but the future impact of the Coronavirus pandemic is difficult to assess” says Annica Ånäs, CEO of Atrium Ljungberg.
- Net sales increased to SEK 733 million (SEK 665 m), of which rental income increased to SEK 648 million (SEK 633 m). Rental income in like-for-like portfolios increased by 1.6 per cent.
- The letting rate was 92 per cent (93%), including project properties.
- Net letting amounted to SEK 9 million (SEK -33 m), of which SEK 20 million (SEK -15 m) referred to project properties.
- The operating surplus from property management increased to SEK 435 million (SEK 427 m). The surplus ratio amounted to 67 per cent (67%).
- The profit before changes in value increased to SEK 311 million (SEK 306 m).
- The unrealised changes in the value of investment properties amounted to SEK -1,486 million (SEK 148 m). Unrealised changes in the value of derivatives amounted to SEK -236 million (SEK -160 m).
- The net profit for the period totalled to SEK -1,134 million (SEK 220 m), corresponding to SEK -8.74 per share (SEK 1.69 per share).
- Investments in Atrium Ljungberg’s own properties increased to SEK 570 million
(SEK 398 m).
- No forecast is being given for 2020. The previous forecast that was presented in the 2019 year-end report amounted to SEK 1,200 million. Farsta Centrum was sold after we had given this forecast. Added to this is the difficulty in assessing the effects of the coronavirus pandemic, both in terms of the tenants’ needs for any rent relief and the impact on Atrium Ljungberg from any bankruptcies, but in particular because we don’t know how long the coronavirus pandemic will last.
Atrium Ljungberg AB (publ)
For additional information, please contact:
Annica Ånäs, CEO, Atrium Ljungberg, Tel +46 (0) 703 41 53 37
Martin Lindqvist, CFO, Atrium Ljungberg Tel +46 (0) 709 27 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 07:30 CET on 16 April 2020.
Atrium Ljungberg is one of Sweden’s biggest listed property companies. We own, develop and manage properties in growth markets in Stockholm, Gothenburg, Malmö and Uppsala. Our focus is to develop attractive urban environments for offices and retail, supplemented with residentials, culture, service and education. The total letting area is approximately 1.2 million square metres, distributed among around seventy properties and valued at SEK 48 billion. Our retail hubs draw nearly 60 million visitors on an annual basis and our areas include more than 30,000 workers and students as well as 1,000 residents. Our project portfolio will enable us to invest the equivalent of approximately SEK 32 billion in the future. Atrium Ljungberg is listed as ATLJ-B.ST on the NASDAQ Stockholm Large Cap list. Find out more at www.al.se