Press release 12-07-2017 Atrium Ljungberg Interim report Jan - June 201“We have started the first six months as ambitiously as I had expected. Our operating surplus increased by 13 per cent as a result of property acquisitions, successful renegotiations and new lettings, as well as a settlement in a rent dispute. Three development projects have been decided, and I am looking forward to working on more project starts this autumn and the approval of detailed development plans.
"With an investment of nearly SEK 750 million in our own properties in the first six months, we look set to achieve our investment forecast of SEK 1.5 billion for the year,” says CEO Annica Ånäs
- Net sales increased to SEK 1,262 million (SEK 1,139 m) of which rental income increased to SEK 1,191 million (SEK 1,062 m). Rental income in like-for-like portfolios increased by 3.0 per cent.
- The letting rate was 94 per cent (94% as per 01/01/2017), including project properties.
- The operating surplus from property management increased to SEK 823 million (SEK 731 m), an increase of 12.5 per cent. The increase is primarily the result of acquired properties and a settlement in a rent dispute but also contributions from new lettings and renegotiations. The operating surplus margin is unchanged at 69 per cent (69%).
- The profit before changes in value increased to SEK 589 million (SEK 472 m).
- The unrealised changes in the value for properties increased to SEK 1,356 million (SEK 973 m) and is mainly explained by the market’s lower yield requirements and higher rental levels. Unrealised changes in the value of derivatives amounted to SEK 112 million (SEK –559 m) as market interest rates during the period increased on the terms covered by the derivatives.
- The net profit for the period increased to SEK 1,638 million (SEK 702 m), corresponding to SEK 12.30/share (SEK 5.27/share).
- Investments in Atrium Ljungberg's own properties increased to SEK 749 million (SEK 407 m).
- The 2017 profit forecast before changes in value is unchanged at SEK 1,135 million. The 2017 profit forecast after tax amounts to SEK 2,046 million, corresponding to SEK 15.36/share.
Atrium Ljungberg AB (publ)