Rikshem’s three month report January-March 2018: Increased rental income and property value in excess of SEK 42 billions
Rental income increased to MSEK 680 (665). Rental income for comparable portfolios increased by 4.0 percent (5.2). Profit after tax amounted to MSEK 329 (385).
“Demand for rental apartments remained strong and the market vacancy was a low 0.3 percent. While rental income increased during the period, the cold, snowy winter resulted in higher expenses that impacted earnings for the first quarter. Move-in began at northern Sweden’s tallest wood building, where, in only 15 months, we have built 110 new apartments,” says Sophia Mattsson-Linnala, CEO of Rikshem.
- Rental income increased to MSEK 680 (665)
- Rental income in comparable portfolios increased by 4.0 percent (5.2)
- Net operating income totaled MSEK 350 (352)
- Net operating income in comparable portfolios was unchanged (3.2 percent)
- Income from property management operations amounted to MSEK 219 (257)
- Profit for the period totaled MSEK 329 (385)
- The fair value of investment properties rose to MSEK 42,199 (39,729)
- The change in value for investment properties was MSEK 269 (218)
- The total return for the rolling 12-month period was 7.9 percent (9.1)
Read the full three month report at rikshem.se or in the attached PDF.
For further information, please contact:
Anders Lilja, CFO, +46 10 70 99 308, email@example.com
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 (AP4) and AMF. Read more at rikshem.se