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Rikshem six-month report January–June 2024:Strong performance and good pace of development

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Rikshem increased rental income by 7 percent to SEK 1,823 million in the first half of 2024. Property expenses are slightly higher than the comparable period. The net operating income totaled SEK 1,017 (920) million and the income from property management increased to SEK 607 (561) million. Property investments in the period totaled SEK 516 (1,052) million.

"Rikshem's pace of development is good, and we have delivered good results in the three areas on which we are focusing particularly hard – customer work, business acumen, and developing and investing in existing properties. The operational component of our results remains strong, which is important as financial costs continue to increase as we refinance at higher interest rates. Rental income increased by just under seven percent, but increased market vacancies in the residential segment had a negative impact. On a positive note, after a long period of decline, property values have now been stable in the first half of the year", says Anette Frumerie, CEO of Rikshem.

  • Rental income was SEK 1,823 (1,706) million
  • Rental income for the like-for-like portfolio rose SEK 98 million or 6.9 percent
  • Net operating income totaled SEK 1,017 (920) million, an increase of 10.5 percent
  • Income from property management increased by 8.2 percent to SEK 607 (561) million
  • The change in value of investment properties was SEK 84 (-2,087) million
  • Profit before tax for the period was SEK 371 (-2,047) million
  • The fair value of the properties, including Rikshem's share in joint ventures, was SEK 58,516 (58,835) million
  • Total return, including joint ventures (R12M), was -1.3 (-4.9) percent

Read the six-month report at rikshem.se or in the attached PDF file. 

For further information:

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 Tjänstepension AB. Read more at rikshem.se.

www.rikshem.se

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