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SBB, Interim Report January – September 2018: Earnings per share SEK 1.31

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SAMHÄLLSBYGGNADSBOLAGET I NORDEN AB (PUBL): PERIOD IN BRIEF

  • Rental income increased to SEK 1 227m (954).
  • Net operating income increased to SEK 797m (620).
  • Cash flow from operations before changes in working capital
    was SEK 255m (220).
  • Profit before tax amounted to SEK 1 204m (2 637), of which:  
    • Income from property management are included with SEK 294m (250).
    • Unrealised value changes on properties excluding building rights are included with SEK 756m (1 774).
    • Unrealised value changes as a result of building rights are included with SEK 134m (580).
    • Realised value changes relating to properties are included with SEK 14m (33).
    • Unrealised value changes on derivatives are included with SEK 6m (-).
  • Net income after tax for the period amounted to SEK 999m (2 047) after deduction for deferred tax of SEK -188m (-529) and current tax of SEK -17m (-60), corresponding to earnings per share of SEK 1.31 (3.20) before dilution.
  • The value of the property portfolio increased to SEK 25.1bn (23.0). The value per 2017-09-30 was SEK 22.1bn.
  • Long term net asset value (EPRA NAV) increased to SEK 8 294m (6 680), corresponding to SEK 11.24 (9.05) per share.  

THE THIRD QUARTER IN BRIEF

  • Net income after tax for the quarter amounted to SEK 482 million (362), corresponding to earnings per share of SEK 0.65 (0.49) before dilution.
  • Rental income increased to SEK 427 million (370).
  • Net operating income increased to SEK 293 million (263).
  • Cash flow from operations before changes in working capital amounted to SEK 99 million (88).

” We delivered a net income after tax for the quarter of SEK 482 million. Together with other efforts to strengthen the balance sheet, we have increased our equity during the quarter and after the end of the quarter by SEK 1.8 billion. We have also announced further equity increase of approximately SEK 0.5 billion. We have continued to strengthen our financial position, which becomes even more clear when we show that our average interest rate was 2.5 percent compared to 3.5 percent a year ago. Our estimated earnings capacity on a rolling 12-month basis at the end of the third quarter was SEK 766 million, an increase with 32 percent from SEK 582m at the end of 2017.”

Ilija Batljan
CEO and Founder

Attachment: Interim Report January - September 2018

For further information, please contact:

Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, +46 70 518 39 67, ilija@sbbnorden.se

This information is information that Samhällsbyggnadsbolaget i Norden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above on October 31, 2018, at 08:00 CET.

About Samhällsbyggnadsbolaget i Norden AB (publ)

The company’s strategy is to own, manage and develop community service properties throughout the Nordic region and rental apartments in growth regions in Sweden. Through the company's commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the company an attractive long-term partner. At the beginning of 2018, SBB was named the winner of the Real Estate Company of the Year Award for 2017. The company’s series B shares (short name SBB B) and preference shares (SBB PREF) are listed on Nasdaq First North Premier. Certified Adviser is Erik Penser Bank (www.penser.se). More information about the company is available at www.sbbnorden.se.

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