STOCKHOLM (dpa-AFX) - Swedish real estate company Fastighets AB Balder (BALDF) on Wednesday reported profit before tax of SEK 7.319 billion, significantly higher than SEK 736 million in the same period of 2024, largely reflecting significant unrealised gains on investment properties.
Changes in value of investment properties ,unrealised showed a gain of SEK 2.159 billion, reversing a loss of SEK 825 million a year earlier. Changes in value of derivatives also turned positive, recording a gain of SEK 245 million versus a loss of SEK 1.677 billion in the prior year.
Profit from property management rose to SEK 5.176 billion from SEK 4.838 billion a year earlier, driven by increased rental income and efficient cost management.
Net profit after tax for the period amounted to SEK 5.851 billion or SEK 4.92 per share compared with loss of SEK 117 million or 0.10 share a year ago..
Rental income grew 7.6 % to SEK 10.269 billion from SEK 9.543 billion in the previous year.
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