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Year-end report January–December 2020

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JANUARY–DECEMBER 2020

  • Income amounted to MSEK 2,035 (1,370), an increase of 46%.
  • Profit from property management amounted to MSEK 1,334 (1,112), an increase of 20%.
  • Profit from property management excluding changes in value and tax in joint ventures amounted to MSEK 1,145 (814), an increase of 41%.
  • Distributable cash flow per share amounted to SEK 6,71 (4.73), an increase of 42%.
  • Profit after tax amounted to MSEK 2,225 (1,382).
  • Profit after tax per share amounted to SEK 12.25 (8.24).

OCTOBER–DECEMBER 2020

  • Income amounted to MSEK 559 (383), an increase of 46%.
  • Profit from property management amounted to MSEK 365 (460), a decrease of 21%.
  • Profit from property management excluding changes in value and tax in joint ventures amounted to MSEK 275 (213), an increase of 29%.
  • Distributable cash flow per share amounted to MSEK 1.19 (0.93), an increase of 28%.
  • Profit after tax amounted to MSEK 497 (543).
  • Profit after tax per share amounted to 2.70 SEK (3.24).

SIGNIFICANT EVENTS DURING AND AFTER THE QUARTER

  • In October, a mixed property portfolio with a high proportion of tax-financed tenants in Stockholm, Karlstad and Eskilstuna was acquired for a value of about SEK 2.5 billion.
  • In October, a property portfolio of warehouse, industrial and wholesale properties was acquired for about MSEK 870 according to a previous letter of intent.
  • In October, Stina Lindh Hök assumed the position as CEO of Nyfosa.
  • In December, residential properties were divested for a value of MSEK 445.
  • The Board proposes that the Annual General Meeting resolves on an ordinary dividend of SEK 3.00 per share with quarterly payment of SEK 0.75 per share, and an extra dividend of SEK 1.00 per share.

COMMENTS FROM THE CEO

We are closing a strong year for Nyfosa. Completing acquisitions for just over SEK 12 billion and divestments for almost SEK 4 billion in one year is proof that we are passionate about doing business. We constantly strive to improve earnings and to create diversification in the portfolio.

With a positive net leasing during each quarter and a growth of 42 percent in the distributable cash flow per share, I am satisfied with the year. We have coped with the challenges of the pandemic well and our assessment is that we will continue to have good resilience with our breadth in the property portfolio.

I am looking forward to continuing to do good business and develop Nyfosa. We will grow and build cash flows with a healthy balance sheet. For us, our business concept means the freedom to do business where we see opportunities, both in the transaction market and in the property management. And we will do so with an even clearer direction towards sustainability and reduced climate impact.

Stina Lindh Hök, CEO

Contact information

Stina Lindh Hök, CEO
Tel: +46 (0)70 577 18 85. E-mail: stina.lindh.hok@nyfosa.se

Ann-Sofie Lindroth, Head of Financial Control
Tel: +46 (0)70 574 59 25. E-mail: ann-sofie.lindroth@nyfosa.se

 

The information is inside information that Nyfosa AB 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 February 15, 2021 at 7:30 a.m. CET.

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 goal is to develop and add value to a growing property portfolio while generating sustained high returns. At present, Nyfosa is focusing primarily on commercial properties in Sweden. As of December 31, 2020, Nyfosa owned commercial properties with a total property value of approximately SEK 29.4 billion. The company’s stock is listed on Nasdaq Stockholm since November 2018. Read more at www.nyfosa.se.

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