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Rikshem’s interim report January – June 2022: Strong financial position and continued high investment pace

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Rikshem remains stable in a market that has undergone rapid change. The company increased its rental income by 3.2 percent during the period, while continuing to maintain a high rate of investment in properties at MSEK 1,249 (774). Net operating income is unchanged from the same period last year at MSEK 867 (867), despite rising energy prices.

“I can confirm that we stand firm despite the uncertainty around us. We have good liquidity, good bank connections and a good rating. At the start of the summer, Moody’s confirmed the long-term credit rating of A3 with stable outlook. Rikshem has a stable portfolio of properties with secure cash flows from residential properties and a high share of public-sector tenants, plus strong owners. I feel confident about the future and that leading a long-term company with its eyes open to a changed world around us may also bring us new opportunities,” says Anette Frumerie, CEO of Rikshem.

 

  • Rental income was MSEK 1,571 (1,522)
  • Rental income for the like-for-like portfolio rose MSEK 41 or 3.2 percent
  • Net operating income was unchanged at MSEK 867 (867)
  • Income from property management decreased by MSEK 65 to MSEK 731 (796)
  • Profit before tax for the period was MSEK 1,870 (2,947)
  • The change in value of investment properties was MSEK 176 (2,030)
  • The property portfolio’s value, including joint ventures, amounted to MSEK 64,119 (62,112)
  • Total return, including joint ventures, on a rolling 12-month basis was 9.8 percent (13.9)

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

For further information, please contact:

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

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 Tjänstepension AB. Read more at rikshem.se.

www.rikshem.se

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