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INTERIM REPORT JANUARY-SEPTEMBER 2022

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JANUARY – SEPTEMBER 2022 

  • Rental revenue increased 19% to SEK 2,725 M (SEK 2,294 M in the year-earlier period).
  • Profit from property management increased 21% to SEK 2,530 M (2,096).
  • Profit from property management per Class A and B share after dilution rose 23% to SEK 7.35 (5.97).
  • In total, property revaluation affected profit by SEK 3,521 M (3,820).
  • Revaluation of financial instruments had an impact on profit of SEK –2,615 M (863).
  • Profit after tax for the period was SEK 2,445 M (5,913).
  • Cash flow from operating activities before changes in working capital amounted to SEK 2,302 M (1,776), corresponding to SEK 6.64 (4.99) per Class A and B share after dilution.
  • Net property investments for the period amounted to SEK 3,419 M (3,419).

 

THIRD QUARTER OF 2022

  • Rental revenue increased 19% to SEK 938 M (SEK 788 M in the year-earlier period).
  • Profit from property management increased 24% to SEK 910 M (732).
  • Profit from property management per Class A and B share after dilution rose 26% to SEK 2.66 (2.11).
  • In total, property revaluation affected profit by SEK 408 M (1,067).
  • Revaluation of financial instruments had an impact on profit of SEK –421 M (112).
  • Profit after tax for the quarter was SEK 702 M (1,610).
  • Cash flow from operating activities before changes in working capital amounted to SEK 659 M (527), corresponding to SEK 1.87 (1.46) per Class A and B share after dilution.
  • Net property investments for the quarter amounted to SEK 841 M (1,220), of which acquisitions accounted for SEK 651 M (1,051).

 

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 3,300 M. The forecast was presented in the interim report for January–June 2022.

 

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 September 2022 amounted to 4 036,000 square metres, distributed between 782 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 on 27 October 2022 at 5.00 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.

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Sagax Q3 2022

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