Rikshem’s interim report January – March 2023: Net operating income up in uncertain times
Rikshem increased its rental income by 9.2 percent. Net operating income was up 9.1 percent to MSEK 420 (385). Rikshem issued two bonds totaling MSEK 550 with a maturity of four years. Property investments in the period totaled MSEK 476 (440).
– We are currently operating in a more demanding economic environment where there is uncertainty about inflation and interest rates. But the company remains stable. However, we now need to prioritize our investments more rigorously as we continue to develop Rikshem. On a positive note, we have a high occupancy rate in the residential segment, and the market vacancy rate is 1.2 (1.5) percent. The economic occupancy rate for properties for public use was 98.7(97.9), says Anette Frumerie, CEO at Rikshem.
- Rental income was MSEK 841 (770)
- Rental income for the like-for-like portfolio rose MSEK 48 or 7.1 percent
- Net operating income was up 9.1 percent to MSEK 420 (385)
- Income from property management fell to MSEK 246 (268)
- Profit before tax for the period was MSEK -1,075 (924)
- The change in value of investment properties was MSEK -1,003 (124) or -1.7 (0.2) percent
- The value of the property portfolio, including joint ventures, was MSEK 62,034 (62,532)
- Total return, including joint ventures, on a rolling 12-month basis was -2.1 (-0.4) percent
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
Tags: