Rikshem’s interim report January–September 2020: Strong increase in net operating income

Nov 04, 2020 07:30 - Press release

Rental income up 4 percent to MSEK 2,276 (2,187). Net operating income up 10.2 percent to MSEK 1,346 (1,221). Property portfolio remains over SEK 50 billion despite divestments.

“Rikshem is posting a good result for the period. Net operating income is up due to a combination of higher income and lower costs for emergency maintenance. Divestments have strengthened our cash position, and we’re well equipped to make various kinds of investments to continue developing our portfolio. From an economic perspective, the business remains relatively unaffected by the coronavirus pandemic, although we’ve all been forced to acknowledge that it will affect society for a long time to come. We’re making various changes to how we work as well as developing simpler solutions for our customers in this ‘new normal’,” says Anette Frumerie, CEO of Rikshem.

• Rental income increased to MSEK 2,276 (2,187)
• Rental income for the like-for-like portfolio increased by 2.5 percent
• Net operating income increased to MSEK 1,346 (1,221)
• Income from property management was MSEK 942 (915)
• Profit for the period totaled MSEK 1,596 (1,564)
• The property portfolio is valued at MSEK 50,761 (49,307)
• Change in value of properties was MSEK 1,022 (1,312)
• Total return including joint ventures, on a rolling 12-month basis, was 6.2 percent (7.2)

Read the full interim report at rikshem.se or in the attached PDF.