Increased profitability and growth
"During the year Sveafastigheter created Sweden's largest listed pure-play residential real estate company. We are ending the year by demonstrating that our strategic focus on operational efficiency and profitable new development continues to deliver results, with strong growth in net operating income and increased profitability", says Erik Hävermark, CEO of Sveafastigheter.
The period January-December 2024
- Rental income increased by 20.9 percent and amounted to SEK 1,361m (1,126). For comparable portfolio rental income increased by 5.6 percent.
- Net operating income increased by 25.5 percent and amounted to SEK 860m (685). For comparable portfolio, net operating income increased by 8.4 percent.
- Profit from property management amounted to SEK 160m (47).
- Changes in property values amounted to SEK -1,188m (-4,704). During the period SEK 629m was invested.
- Profit/loss for the period amounted to SEK -1,125m (-4,384), which is SEK -8.15 per share.
Fourth quarter 2024
- Rental income increased by 22.6 percent and amounted to SEK 352m (287).
- Net operating income increased by 36.9 percentand amounted to SEK 215m (157).
- Profit from property management amounted to SEK 39m (-75).
- Changes in property values amounted to SEK 195m (-631). During the quarter SEK 293m was invested.
- Profit/loss for the period amounted to SEK 256m (-427), which is SEK 1.28 per share.
Significant events during and after the quarter
- During the quarter the Company's shares were listed on Nasdaq First North Premier Growth Market.
- During the quarter bank debt of SEK 1,077m was refinanced with new loans maturing in 2027 and a credit facility of SEK 1,000m was agreed.
- In December the Company was granted a land allocation for around 100 rental apartments in Huvudsta, Solna.
- During the quarter the construction of 120 new apartments was completed in Skellefteå.
- After the quarter Sveafastigheter's CFO Martina Lous-Christensen left the Company.
For further information, please contact:
Kristel Eismann, Head of Treasury and IR, ir@sveafastigheter.se
About Sveafastigheter
Sveafastigheter owns, manages and develops people's homes. The property portfolio consists of a wide range of rental apartments in growth regions in Sweden. The buildings are managed and developed with a local presence and commitment. Sveafastigheter develops and builds new sustainable housing where the demand for housing is the greatest. The company's Certified Adviser is FNCA Sweden AB.
This information is information that Sveafastigheter 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 persons set out above, at 2025-02-19 07:30 CET.
