Interim report January – March 2020
JANUARY - MARCH 2020
- Income, MSEK 430 (322)
- Profit after tax, MSEK 659 (160)
- Profit after tax per share, 3.80 SEK (0.96)
SIGNIFICANT EVENTS DURING AND AFTER THE QUARTER
- A directed share issue was completed in February, which raised proceeds of MSEK 601 before transaction costs for Nyfosa.
- A ten-year lease was signed with the Municipality of Luleå.
- A property portfolio comprising 79 commercial properties was acquired for a total value of SEK 4.2 billion.
- A new financial target and a dividend policy were established in March and the business concept and vision were updated.
- Due to the corona pandemic, it was announced that the acquisition of property portfolios from SBB i Norden AB would not go ahead according to the letter of intent.
- Ongoing dialogue with tenants related to the corona pandemic concerning 4 percent of the rental income for the second quarter.
COMMENTS FROM THE CEO
Nyfosa stands steady. We can report a strong first quarter with higher earnings, healthy liquidity and accessed properties for SEK 4.7 billion. We have good fundamental conditions in the prevailing situation with the ongoing corona pandemic, given the breadth of Nyfosa’s tenants in many different industries, but uncertainty is immense. We expect a negative impact in the immediate future. At the current time, it is impossible to assess the extent of this or how long it will last. We are doing what we can – preparing for various scenarios in close contact with our tenants and continuously monitoring the impact on financing and transactions. We are ready and well equipped to resume business when the time comes.
Jens Engwall, CEO
Jens Engwall, CEO, firstname.lastname@example.org, tel: +46 (0)70 690 65 50
Ann-Sofie Lindroth, Head of Financial Control, email@example.com, tel: +46 (0)70 574 59 25
The information is inside information that Nyfosa AB (publ) is obligated to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication through the agency of the aforementioned contact person on April 23, 2020 at 7.30 a.m. CEST.
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. On December 31, 2019, Nyfosa owned commercial properties with a total property value of approximately SEK 19.6 billion. Read more at www.nyfosa.se.