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Rikshem’s interim report January – March 2020: Strong first quarter

maj 05, 2020 07:30 - Pressmeddelande

Rental income up 6 percent to MSEK 761 (718). Net operating income up 21.8 percent to MSEK 413 (339). Rental income for the like-for-like portfolio up 4.5 percent (2.8).

“Rikshem can report a strong first quarter. Revenues have increased, partly as a result of targeted work on unrented properties and vacancies, converting non-residential floor area into living area, and pricing reviews. Projects in development and acquisitions in 2019 that have now been rented have also contributed to higher revenues. Net operating income has also been affected by lower expenses, partly due to the mild winter across large parts of Sweden. To date, Rikshem’s operations have been relatively unaffected by the coronavirus pandemic. At the same time, we see a certain risk in developments in the capital market, and a risk that the project side of the business may be subject to delays and our customers may be impacted by the effects of the pandemic. However, it is currently difficult to foresee how our operations will be impacted in the long term,” says Per Uhlén, of Rikshem.

  • Rental income increased to MSEK 761 (718)
  • Rental income for the like-for-like portfolio increased by 4.5 percent (2.8)
  • Net operating income totaled MSEK 413 (339)
  • Income from property management was MSEK 282 (212)
  • Profit for the period totaled MSEK 316 (292)
  • The property portfolio increased in value to MSEK 49,718 (49,307)
  • Change in value of properties was MSEK 129 (173)
  • Total return including joint ventures, on a rolling 12-month basis, was 7.0 percent (7.2)

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

For further information, please contact:

Anders Lilja, CFO, +46 (0)10-70 99 308, anders.lilja@rikshem.se