Interim Report January - September 2021
Rise in property value and income from property management
John Mattson acquired and took possession of shares in the property companies HEFAB Fastighets AB (Hefab) and EFIB Aktiebolag (Efib) in the third quarter. As a result, John Mattson now has shareholdings of slightly more than 97% in Hefab and almost 100% in Efib. Property value increased SEK 5.6 billion in the quarter and amounted to SEK 14.2 billion at the end of September. The increase was largely attributable to the acquisitions of Hefab and Efib. One of our long-term goals, namely for the Group’s property value to amount to at least SEK 10 billion by the end of 2023, has now been achieved.
“John Mattson has recorded strong growth in the past months and is now established in several attractive submarkets in the Stockholm region. Our focus over the immediate future will be on establishing high quality property management, preparing to add value and develop the newly acquired portfolios and developing a larger John Mattson together with Hefab’s employees. Work with the integration of both companies is ongoing,” says John Mattson’s CEO, Siv Malmgren.
Over the past 12 months, income from property management per share increased 15%, and the net asset value per share rose 36%. The increase in net asset value was partially due to the acquisition of the shares in Hefab and Efib, but was also due to unrealised value changes stemming from changed yield requirements. John Mattson’s goal is for an average annual increase in income from property management per share of at least 10% and NAV growth per share of at least 10%.
- Rental revenues totalled SEK 264.3 million (215.9), up 22%.
- Income from property management was SEK 80.2 million (75.0), corresponding to SEK 2.36 per share (2.23). Adjusted for expensed provisions attributable to the CEO’s future pension, growth in income from property management increased 15%.
- Cash flow from operating activities before changes in working capital amounted to SEK 81.1 million (76.2).
- Changes in property values amounted to SEK 856.6 million (62.1) and changes in the value of interest-rate derivatives to SEK 32.4 million (negative: 12.7).
- Earnings after tax for the period totalled SEK 764.9 million (92.1), of which SEK 761.1 million pertained to the Parent Company’s shareholders, corresponding to SEK 22.38 per share (2.74).
- Property value totalled SEK 14,228.4 million (7,422.0).
- Investments amounted to SEK 5,414.8 million (994.7), of which SEK 5,268.5 million (857.3) pertained to acquisitions.
Lidingö, 11 November 2021
John Mattson Fastighetsföretagen AB (publ)
For further information, please contact:
Siv Malmgren, CEO of John Mattson.
+46 (0)70-539 35 07, email@example.com
Maria Sidén, CFO, John Mattson
+46 (0)70-337 66 36, firstname.lastname@example.org
This information is information that John Mattson Fastighetsföretagen 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 8.00 a.m. CET on 11 November 2021.
About John Mattson Fastighetsföretagen AB (publ)
John Mattson is a residential property owner with 4,300 rental apartments as well as commercial premises and leasehold properties in five municipalities of Stockholm: Lidingö, Sollentuna, Stockholm, Nacka and Upplands Väsby. As of 30 September 2021, the property value was SEK 14.2 billion. The focus of the company’s strategy is on property management, refinement, densification and acquisitions. The management of John Mattson’s properties is characterised by an overall perspective and close customer relationships. The company’s goal is to create great neighbourhoods across generations. John Mattson’s shares are listed under the symbol JOMA on Nasdaq Stockholm, Mid Cap. Read more at: johnmattson.se and corporate.johnmattson.se