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INTERIM REPORT JANUARY-SEPTEMBER 2019

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JANUARY-SEPTEMBER 2019

  •  Rental revenue increased 16% to SEK 1,917 M (SEK 1,656 M in the year-earlier period).
  •  Profit from property management increased 23% to SEK 1,483 M (1,201).
  •  Profit from property management per Class A and B share after dilution rose 26% to SEK 4.08 (3.25).
  •  In total, property revaluation affected profit by SEK 808 M (1,399).
  •  Revaluation of financial instruments impacted profit by a total of SEK 692 M (276).
  •  Profit after tax for the period was SEK 2,582 M (2,398).
  •  Cash flow from operating activities before changes in working capital rose 10% to SEK 1,423 M (1,298), corresponding to SEK 3.72 (3.17) per Class A and B share after dilution.
  •  Net investments amounted to SEK 1,497 M (2,442), of which property acquisitions accounted for SEK 1,916 M (2,250).
  •  Sagax completed a 1:1 bonus issue of Class A and Class B common shares.

THIRD QUARTER OF 2019

  •  Rental revenue rose 16% to SEK 657 M (567).
  •  Profit from property management increased 32% to SEK 523 M (395).
  •  Profit from property management per Class A and B share after dilution rose 35% to SEK 1.44 (1.07).
  •  In total, property revaluation affected profit by SEK 175 M (340).
  •  Revaluation of financial instruments impacted profit by a total of SEK 249 M (161).
  •  Profit after tax amounted to SEK 812 M (732).
  •  Cash flow from operating activities before changes in working capital amounted to SEK 412 M (304), corresponding to SEK 1.10 (0.79) per Class A and B share after dilution.
  •  Net investments amounted to SEK 936 M (740), of which the acquisition of properties accounted for SEK 968 M (633).

ADJUSTED FORECAST FOR 2019
Profit from property management for 2019, meaning profit before revaluations and tax, based on the
current property portfolio and announced acquisitions and divestments, is expected to amount to SEK 2,000 M. The previously submitted forecast was for profit of SEK 1,950 M and was presented when the January-June 2019 interim report 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 at 30 September 2019 amounted to 3 021 000 square metres, distributed between 539 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 24 October 2019 at 3:30 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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