Rikshem's Interim report January–September 2023: Positive progress and steady decline in market vacancy rate

Oct 27, 2023 07:30 - Regulatory information

Rikshem's rental income was up 10.1 percent during the period. Net operating income was MSEK 1,495 (1,381), up 8.3 percent. Property investments in the period totaled MSEK 1,333 (1,779).

"Despite the challenging times that have had a major impact on the property sector, Rikshem has seen positive progress, including a decline in market vacancy rates. Property expenses increased more than income in percentage terms during the period, but on the positive side, electricity costs started to fall and electricity subsidies for businesses has now been paid. Net operating income was up year-on-year, while income from property management was down, largely due to rising interest rates," says Anette Frumerie, CEO at Rikshem. 

         Rental income was MSEK 2,605 (2,366) 

         Rental income for the like-for-like portfolio rose MSEK 152 or 7.4 percent 

         Net operating income amounted to MSEK 1,495 (1,381), an increase of 8.3 percent 

         Income from property management fell to MSEK 943 (997) due to rising interest expenses

         Profit before tax for the period was MSEK -2,840 (2,340) 

         The change in value of investment properties was MSEK -3,267 (178) or -5.5 (0.3) percent 

         The value of the property portfolio, including joint ventures, was MSEK 57,366 (59,423) 

         Total return, including joint ventures, for the rolling 12-month period was  
-5.7 percent (-0.4) 

 

Read the interim report at rikshem.se or in the attached pdf. 

Documents

For further information:

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

Jennie Wolmestad, Head of Communication, +46 (0) 70 687 18 57, jennie.wolmestad@rikshem.se