English

SBB, Year-end Report 2020: Earnings per share SEK 6.41

Report this content

SAMHÄLLSBYGGNADSBOLAGET I NORDEN AB (PUBL): YEAR IN BRIEF

  • Rental income increased to SEK 5,121m (1,996).
  • The operating surplus increased to SEK 3,479m (1,265).
  • Cash flow from operating activities before changes in working capital was SEK 2,232m (653).
  • Profit before tax increased to SEK 10,341m (3,137), of which:
      • Profit from property management is included in the amount of SEK 2,474m (645). The profit from property management includes costs for early repayment of loans and other non-recurring costs of SEK -251m (-280).
      • Changes in value of properties are included in the amount of SEK 8,542m (2,453).
      • Changes in the value of derivatives are included in the amount of SEK -207m (39).
  • Profit for the period amounted to SEK 9,084m (2,624) after the deduction of deferred tax of SEK -1,092m (-479) and current tax of SEK -165 (-34), corresponding to earnings per series A and B ordinary share of SEK 6.41 (2.97).
  • The value of the property portfolio amounted to SEK 90.2bn (79.5).
  • Long-term net asset value (EPRA NRV) was SEK 37,505m (24,855), corresponding to SEK 28.21 (20.04) per share.
  • The company’s board of directors proposes a dividend of SEK 1.00 (0.60) per ordinary A and B share and a dividend of SEK 2 (2) per D share to be paid quarterly.

THE FORTH QUARTER IN BRIEF

  • Rental income increased to SEK 1,253m (596).
  • Net operating income increased to SEK 810m (362).
  • Profit before tax was SEK 4,199m (1,611), of which the profit from property management was SEK 873m (137). The profit from property management result includes costs for early redemption of loans and other non-recurring financing costs of SEK -45m. Changes in value of properties included by SEK 3,294m (1,317).
  • Net income after tax for the quarter amounted to SEK 3,350 million (1,287), corresponding to earnings per share of SEK 2.29 (1.49) after dilution.

”SBB’s assets are among the most demanded in a low interest rate environment in which investors seek a stable and secure return. Safe and stable rental income from our resilient portfolio, with low-risk assets in the form of Swedish rent regulated residentials and Nordic social infrastructure, including elderly care homes, schools, preschools and LSS properties, provides a great foundation. What generates value, however, is our team and our platform, with its full-scale infrastructure for growth and the implementation of three income-generating value-adding strategies: property development, renovations/investments and transactions. Combined, these four value-generating areas delivered profit before tax of SEK 10,341m for 2020 and profit after tax of SEK 9,084m. Adjusted for deductions for earnings attributable to preference shares, series D shares and hybrid bonds and minority shares, profit for the period amounted to SEK 6.41 per series A and B ordinary share.

SBB’s long-term efforts are yielding good results in terms of ecological, social and economic sustainability. We are investing extensively to reduce our climate impact.

SBB continues to deliver strong growth. Compared with 2019, profit from property management increased by 284 percent to SEK 2,474m (645). A sharp increase in net operating income to SEK 3,479m (1,265) is the principal explanation for the strong trend in profit from property management. According to our assessment we have delivered key ratios for BBB+ rating and we continue to lower our average interest rate, which was 1.31 percent (1.76) at the end of the period.

We are also concerned that the result will benefit our shareholders in the form of annually increasing dividends. This year, the Board of Directors proposes a dividend of SEK 1 per series A or B share.” comments Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB.

Attachment: Year-end Report January – December 2020

The year-end report can also be found in the following link: corporate.sbbnorden.se/en/reports-and-presentations/

For further information, please contact:

Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, 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. The information was submitted for publication, through the agency of the contact person set out above on 23 February 2021, at 08:00 CET.

Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) is the Nordic region’s leading property company in social infrastructure. The Company’s strategy is to long term own and manage social infrastructure properties in the Nordics and rent regulated residential properties in Sweden, and to actively work with property development. Through SBB’s commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the Company an attractive long-term partner. The Company’s series B shares (ticker SBB B) and D shares (ticker SBB D) are listed on Nasdaq Stockholm, Large Cap. The Company’s preference shares (ticker SBB PREF) are listed on Nasdaq First North Premier Growth Market. Certified Adviser is Erik Penser Bank (contact: certifiedadviser@penser.se / +46 84638300). Further information about SBB is available at www.sbbnorden.se.

Subscribe

Documents & Links