Rikshem's Interim report January–September 2023: Positive progress and steady decline in market vacancy rate

Rikshem's rental income was up 10.1 percent during the period. Net operating income was MSEK 1,495 (1,381), up 8.3 percent. Property investments in the period totaled MSEK 1,333 (1,779).

"Despite the challenging times that have had a major impact on the property sector, Rikshem has seen positive progress, including a decline in market vacancy rates. Property expenses increased more than income in percentage terms during the period, but on the positive side, electricity costs started to fall and electricity subsidies for businesses has now been paid. Net operating income was up year-on-year, while income from property management was down, largely due to rising interest rates," says Anette Frumerie, CEO at Rikshem. 

•         Rental income was MSEK 2,605 (2,366) 

•         Rental income for the like-for-like portfolio rose MSEK 152 or 7.4 percent 

•         Net operating income amounted to MSEK 1,495 (1,381), an increase of 8.3 percent 

•         Income from property management fell to MSEK 943 (997) due to rising interest expenses

•         Profit before tax for the period was MSEK -2,840 (2,340) 

•         The change in value of investment properties was MSEK -3,267 (178) or -5.5 (0.3) percent 

•         The value of the property portfolio, including joint ventures, was MSEK 57,366 (59,423) 

•         Total return, including joint ventures, for the rolling 12-month period was  
-5.7 percent (-0.4) 

Read the interim report at rikshem.se or in the attached pdf. 

For further information:

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

Jennie Wolmestad, Head of Communication, +46 (0) 70 687 18 57, jennie.wolmestad@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