Rikshem’s interim report January – June 2020: Continued income growth

Rental income up 5.5 percent to MSEK 1 521 (1 442). Net operating income up 16.8 percent to MSEK 861 (740). Rental income for the like-for-like portfolio up 3.7 percent (3.3).

“The growth in income remains good, and costs are falling. This increase can partly be attributed to the effects of annual rent increases as well as new construction projects and acquisitions from last year, plus lower operating costs as a result of the mild winter. Our income focus and damage-prevention work are ongoing. At the same time, these months have of course been dominated by the coronavirus pandemic. After an initial slowing, both the residential properties and properties for public use segments have remained strong during the first half of 2020. We’ve implemented some local rent reductions at most of our locations, but the cost of doing this is modest. We’re not seeing any increase in rent losses and no increased trend in tenants who apply for rent respite”, says Anette Frumerie, CEO of Rikshem.

• Rental income increased to MSEK 1 521 (1 442)
• Rental income for the like-for-like portfolio increased by 3.7 percent (3.3)
• Net operating income totaled MSEK 861 (740)
• Income from property management was MSEK 583 (562)
• Profit for the period totaled MSEK 1 179 (1 126)
• The property portfolio increased in value to MSEK 50,989 (49,307)
• Change in value of properties was MSEK 859 (1 030)
• Total return including joint ventures, on a rolling 12-month basis, was 6.5 percent (7.2)

Read the full interim report at rikshem.se or in the attached PDF.

For further information, please contact:

Anders Lilja, CFO, +46 (0)10-70 99 308, anders.lilja@rikshem.se

This is the type of information that Rikshem AB (publ) is obligated to disclose pursuant to the Securities Market Act. The information was submitted for publication on August 25, 2020 at 7:30 a.m. CET.

Rikshem is one of Sweden’s largest private property companies. We own, develop and manage residential properties and properties for public use in selected municipalities in Sweden, where we offer safe, pleasant and flexible housing in attractive locations. Rikshem aims to be a long-term partner for municipalities and is owned by the Fourth Swedish National Pension Fund and AMF Pensionsförsäkring AB. Read more at rikshem.se.

www.rikshem.se