Rikshem’s interim report January–September 2021: Stable development and reduced costs

Rental income was MSEK 2,276, unchanged from the same period last year because of property sales in 2020 and 2021. Net operating income was up 1.0 percent to MSEK 1,359. Income from property management increased by MSEK 228 or 24.2 percent to MSEK 1,170 (942). The improvement can mainly be attributed to an increase in the value of properties in joint ventures.

“Rikshem continues its stable, long-term development, and can demonstrate increased net operating income and reduced costs for the period, linked partly to less emergency maintenance. The strong value creation, leading to increased profit before tax, is testimony to the attractiveness of the segments in which we operate. Our positive development continues, and in the last few months we’ve started three different projects involving construction of almost 500 apartments, taken possession of a large property in development in Norrköping and reduced vacancies, for example in Kalmar, by means of more effective rental efforts,” says Anette Frumerie, CEO of Rikshem.   

• Rental income was MSEK 2,276 (2,276)
• Rental income for the like-for-like portfolio rose MSEK 37 or 1.7 percent
• Net operating income increased to MSEK 1,359 (1,346)
• Income from property management was MSEK 1,170 (942)
• Profit before tax for the period totaled MSEK 3,472 (1,972), an increase of 76.1 percent
• Change in value of properties was MSEK 2,142 (1,022)
• The value of the property portfolio, including joint ventures, increased to MSEK 57,921 (54,485)
• Total return including joint ventures, on a rolling 12-month basis, was 9.3 percent (7.0)
• Read the full interim report at rikshem.se or in the attached PDF.

This disclosure contains information that Rikshem is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 27-10-2021 14:30 CET.

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 Pensionsförsäkring AB. Read more at rikshem.se.

www.rikshem.se

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