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INTERIM REPORT JANUARY-JUNE 2022

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FIRST SIX MONTHS OF 2022

  • Rental revenue increased 19% to SEK 1,787 M (SEK 1,506 M in the year-earlier period).
  • Profit from property management increased 19% to SEK 1,620 M (1,364).
  • Profit from property management per Class A and B share after dilution rose 22% to SEK 4.69 (3.86).
  • In total, property revaluation affected profit by SEK 3,113 M (2,753).
  • Revaluation of financial instruments had an impact on profit of SEK –2,194 M (751).
  • Profit after tax for the period was SEK 1,742 M (4,303).
  • Cash flow from operating activities before changes in working capital amounted to SEK 1,643 M (1,249), corresponding to SEK 4.77 (3.53) per Class A and B share after dilution.
  • Net investments in properties amounted to SEK 2,578 M (2,204).

 

SECOND QUARTER OF 2022

  • Rental revenue increased 16% to SEK 902 M (SEK 775 M in the year-earlier period).
  • Profit from property management increased 15% to SEK 834 M (727).
  • Profit from property management per Class A and B share after dilution rose 17% to SEK 2.42 (2.06).
  • In total, property revaluation affected profit by SEK 1,707 M (970).
  • Revaluation of financial instruments had an impact on profit of SEK –1,961 M (525).
  • Profit after tax for the period was SEK 161 M (2,146).
  • Cash flow from operating activities before changes in working capital amounted to SEK 973 M (835), corresponding to SEK 2.85 (2.43) per Class A and B share after dilution.
  • Net investments in properties amounted to SEK 1,464 M (1,233), of which acquisitions accounted for SEK 1,299 M (1,157).

 

ADJUSTED 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 3,300 M. The previously submitted forecast was for profit of SEK 3,200 M and was presented when the year-end report for 2021 was published.

 

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 30 June 2022 amounted to 3,974,000 square metres, distributed between 784 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 and the Swedish Securities Market Act. The information was released for publication on 14 July 2022 at 2:30 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 Q2 2022

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