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FIRST QUARTER OF 2022

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  • Rental revenue increased 21% to SEK 885 M (SEK 731 M in the year-earlier period).
  • Profit from property management increased 23% to SEK 786 M (637).
  • Profit from property management per Class A and B share after dilution rose 26% to SEK 2.27 (1.80).
  • In total, property revaluation affected profit by SEK 864 M (1,381).
  • Revaluation of financial instruments had an impact on profit of SEK –233 M (226).
  • Profit after tax for the period amounted to SEK 1,581 M (2,157), corresponding to SEK 4.77 (6.59) per Class A and B share after dilution.
  • Cash flow from operating activities before changes in working capital amounted to SEK 670 M (414), corresponding to SEK 1.91 (1.10) per Class A and B share after dilution.
  • Net investments amounted to SEK 1,116 M (971), of which property acquisitions accounted for SEK 964 M (1,057).

 

UNCHANGED FORECAST FOR 2022

Profit from property management for 2022, 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 3,200 M. The forecast was presented in the 2021 Year-end Report.

For further information, please contact CEO David Mindus, tel +46 8 - 545 83 540.

 

 

About Sagax

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 2022 amounted to 3,847,000 square metres, distributed between 690 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 11 May 2022 at 1.30 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.

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Sagax Q1 2022

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