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Interim Report 1 January - 31 March 2016

“During the first quarter the operating surplus increased by approximately 4 per cent, despite the sale of four retail properties last year. We are continuing to work actively with strategic acquisitions and in a short time have acquired properties in Malmö and Kista at an underlying value of SEK 450 million,” comments Atrium Ljungberg’s CEO Annica Ånäs. “We believe that the strong rental market and the renegotiations we are now conducting will have a positive effect on our rental income in the future. It is also positive that our investment in residentials is underway, and we are planning for several project starts during 2016 and 2017,” concludes Annica Ånäs.
  • Net sales amounted to SEK 564 million (SEK 580 m), of which rental income increased to SEK 524 million (SEK 515 m).
     
  • The letting rate amounted to 94 per cent (94% as of 31/12/2015), including project properties.
     
  • The operating surplus from property management increased to SEK 357 million (SEK 344 m), an increase by 3.8 per cent. The operating surplus margin amounted to 68 per cent (67%). The increase in operating surplus is mainly be attributable to property acquisitions and lettings.
     
  • The profit before changes in value amounted to SEK 223 million (SEK 223 m).
     
  • Unrealised changes in the value of properties amounted to SEK 14 million (SEK 366 m). Unrealised changes in the value of derivatives amounted to SEK -311 million (SEK -199 m), as a result of a decrease in market interest rates on the terms covered by the derivatives.
     
  • The net profit for the period totalled SEK -57 million (SEK 306 m), corresponding to SEK -0.43 /share (SEK 2.29/share).The change is mainly attributable to unrealised changes in value of properties and derivatives.
     
  • Investments in own properties amounted to SEK 201 million (SEK 149 m).
     
  • Acquisition of properties amounted to SEK 121 million (SEK 0 m).
     
  • The 2016 profit forecast before changes in value and tax amounts to SEK 925 million.

Interim Report Jan-Mar 2016
Press release 22-04-2016 Atrium Ljungberg Interim report Jan - March 2016