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Interim report January – June 2020

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JANUARY – JUNE 2020

  • Income MSEK 923 (656)
  • Profit after tax, MSEK 908 (470)
  • Profit after tax per share, SEK 5.07 (2.80)

APRIL – JUNE 2020

  • Income MSEK 493 (333)
  • Profit after tax, MSEK 249 (309)
  • Profit after tax per share, SEK 1.35 (1.84)

SIGNIFICANT EVENTS DURING AND AFTER THE QUARTER

  • Acquisition of a property portfolio for a value of SEK 4.9 billion in June, 79 percent of the rental income from which is tax funded, and divestment of a project property in Gothenburg at a value of MSEK 400.
  • Divestment of a retail property in central Linköping for a value of MSEK 139.
  • Signed letter of intent with Blackstone to divest logistics portfolio for approximately SEK 2.1 billion.

COMMENTS FROM THE CEO

Nyfosa is continuing to grow and differentiate its portfolio. With the SEK 4.9 billion acquisition finalized in July, we are adding strong and stable tenants, mainly tax-funded operations in growth locations where we already have a presence, and an increase in earnings capacity of more than    MSEK 200. This acquisition is an ideal fit for us and we are pleased to be able to realize it in the current market. Nyfosa’s focus is to build up cash flows, which means that we are also prepared to sell when the right opportunity presents itself. As we recently announced, we are negotiating the divestment of logistics properties for slightly more than SEK 2 billion to pave the way for new transactions that will strengthen cash flows. 

The quarter was marked by the corona pandemic. At the same time, we can see that the transaction market has come to life and that our valuations are stable. We have continued to work closely with our tenants, who have largely managed well in the current situation, and our own business has operated without any disruptions. There is still much uncertainty about the future but we can see tendencies of a general recovery and future business opportunities may arise that fit Nyfosa well.  

Jens Engwall, CEO

For more information, please contact:
Jens Engwall, CEO, jens.engwall@nyfosa.se, mobile +46 70 690 65 50
Ann-Sofie Lindroth, Head of Financial Control, ann-sofie.lindroth@nyfosa.se, mobile +46 70 574 59 25

Before it was published, this information was inside information and is such information that Nyfosa AB is obligated to disclose in accordance with the EU Market Abuse Regulation and the Securities Market Act.. The information was submitted for publication through the agency of the aforementioned contact persons on July 13, 2020, at 07.30 a.m CEST.

About Nyfosa
Nyfosa is a transaction-based and opportunistic property company. The company’s business concept is based on active participation in the Swedish transaction market combined with an investment strategy that can be flexible to the property market. The aim is to develop and add value to a growing property portfolio with sustained high returns. At present, Nyfosa is focusing primarily on commercial properties in Sweden. As of June 30, 2020, Nyfosa owned commercial properties with a total property value of approximately SEK 24.9 billion. Read more at www.nyfosa.se

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