FIRST QUARTER OF 2021
- Rental revenue increased 4% to SEK 731 M (SEK 703 M in the year-earlier period).
- Profit from property management increased 13% to SEK 637 M (565).
- Profit from property management per Class A and B share after dilution rose 14% to SEK 1.80 (1.58).
- In total, property revaluation affected profit by SEK 1,381 M (279).
- Revaluation of financial instruments had an impact of SEK 226 M (–128).
- Profit after tax for the period was SEK 2,157 M (749).
- Cash flow from operating activities before changes in working capital amounted to SEK 414 M (416), corresponding to SEK 1.10 (1.11) per Class A and B share after dilution.
- Net investments amounted to SEK 971 M (3,230).
- An Extraordinary General Meeting held on 19 March 2021 resolved on a reduction of share capital through the compulsory redemption of all preference shares. The final day for trading in preference shares was 1 April and the record date for redemption was 7 April.
ADJUSTED FORECAST FOR 2021
Profit from property management for 2021, meaning profit before revaluations and tax, based on the current property portfolio, announced acquisitions and divestments and current exchange rates, is expected to amount to SEK 2,650 M. The previously submitted forecast was for profit of SEK 2,550 M and was presented when the year-end report for 2020 was published.
For further information, please contact CEO David Mindus, tel +46 8 - 545 83 540.
AB Sagax is a property company whose business concept is to invest in commercial properties, primarily in the warehouse and light industry segment. Sagax’s property holdings on 31 March 2021 amounted to 3,544,000 square metres, distributed between 681 properties. AB Sagax (publ) is listed on Nasdaq Stockholm, Large Cap. More information is available at www.sagax.se.
This constitutes information that AB Sagax (publ) is legally obliged to publish under the EU’s Market Abuse Regulation. The information was released for publication, through the agency of the contact person above, on 5 May 2021 at 12.00 p.m. CEST.
Every care has been taken in the translation of this press release. In the event of discrepancies, however, the Swedish original will supersede the English translation.