Interim report 1 January - 31 March 2025
January-March
- Revenue amounted to SEK 175 million (157), a year-on-year increase of 12 per cent.
- Net operating income amounted to SEK 83 million (73), up 13 per cent year-on-year.
- Income from property management amounted to SEK 25 million (20), a year-on-year increase of 22 per cent.
- Changes in the value of investment properties amounted to SEK 240 million (-45) and changes in the value of derivatives to SEK 17 million (44).
- Earnings totalled SEK 229 million (4), corresponding to SEK 1.49 per share (0.03).
- The loan-to-value ratio was 51 per cent (53) on 31 March with an average interest rate of 3.4 per cent (3.5) on the balance sheet date. The company only has bank borrowings.
Significant events during the period
- KlaraBo took possession of a property portfolio in Helsingborg with a property value of SEK 850 million. The portfolio is deemed to have favourable potential for future value creation.
- KlaraBo announced a new number of shares and votes in the company as a result of the completed rights issue. As of 31 January 2025, the total number of shares outstanding in KlaraBo amounted to 157,885,751 (of which 16,300,000 were Class A shares and 141,585,751 Class B shares).
- KlaraBo repurchased 2,818,650 shares for SEK 45 million in accordance with the company's mandate from the Annual General Meeting.
From Andreas Morfiadakis' CEO comment
"Revenue increased 12 per cent during the quarter, driven by acquisition of the property portfolio in Helsingborg and the general rent increases for the year. Net operating income and income from property management also trended positively, increasing 13 per cent and 22 per cent, respectively. In addition to the aforementioned factors, this positive performance was also due to efficient property management, continued value creation and cost control.
Escalating geopolitical tensions, the start of a global trade war and considerable uncertainty regarding macroeconomic development worldwide has led to significant stock market volatility in recent weeks. Against this backdrop, I am surprised that the Swedish housing sector hasn't received more recognition, and that shares in listed housing companies are still being traded at a significant discount to net asset value. In my opinion, the segment should be viewed as a secure and attractive investment for several reasons, including low vacancy risk, falling market interest rates and rising rent levels".
Conference call and webcast presentation
KlaraBo's CEO Andreas Morfiadakis and CFO Per Holmqvist will present the interim report and answer questions at a webcast presentation and conference call at 09:00 CEST today. The presentation will be held in Swedish.
If you wish to participate via audiocast please use the link below. Via the audiocast you are able to ask written questions.
Q1 Report 2025
If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
Call Access
The presentation and webcast will be available at www.klarabo.se after the conference call.
For more information:
Andreas Morfiadakis, CEO KlaraBo
andreas.morfiadakis@klarabo.se
+46 76 133 16 61
This information is information that KlaraBo 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 2025-04-29 08:00 CEST.
About KlaraBo
KlaraBo is a real estate company that acquires, builds, owns and manages attractive residential properties. The company was founded in 2017 and operates throughout the country. The strategy is to acquire existing residential properties as well as land for new construction in regions with population growth and a strong labour market. Our newly constructed apartments are developed in-house and space efficient, which contribute to reasonable rents. Both apartments and buildings are designed in collaboration with the municipality to fit local needs. With sustainable building material, the new construction holds a high environmental standard. KlaraBo is a long-term property owner. KlaraBo is listed on Nasdaq Stockholm and is traded under the ticker KLARA B.
