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Rikshem’s interim report January – March 2021: Stable revenues and strong market segments

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Income from property management in the first quarter amounted to MSEK 275 (282), where the decrease was primarily due to property sales in 2020. Rental income fell marginally by 0.1 percent during the period. Rental income for the like-for-like portfolio increased by 0.9 percent

"We have a good total return and operate in strong segments that have continued to perform well over the past year when other property segments have had a much tougher time. Revenues are stable, but costs are higher as a result of a colder and snowier winter than last year. Income from property management decreased, primarily as a result of the divestment of a larger portfolio in Östersund in 2020. Rikshem now has a property value of more than SEK 55 billion, including our joint ventures, and we are continuing to develop the company, primarily through investments in existing portfolios," says Anette Frumerie, CEO of Rikshem.

  • Rental income decreased to MSEK 760 (761)
  • Rental income for the like-for-like portfolio increased by MSEK 7 or 0.9 percent.
  • Net operating income totaled MSEK 400 (413)
  • Income from property management was MSEK 275 (282)
  • Profit for the period totaled MSEK 433 (388).
  • The property portfolio’s value, excluding joint ventures, increased to MSEK 52,167 (51,750)
  • The property portfolio’s value, including joint ventures, increased to MSEK 55,007 (54,485)
  • Change in value of properties was MSEK 95 (129)
  • Total return including joint ventures, on a rolling 12-month basis, was 7.1 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

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

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