Rikshem Interim Report Jan–Sep 2024: Profit growth and stable property values

Nov 06, 2024 07:30 - Regulatory information

During the period January–September 2024, Rikshem’s rental income increased by 4.4 percent to SEK 2,720 million. The net operating income totaled SEK 1,591 (1,495) million and the income from property management increased to SEK 985 (943) million. Property investments in the period totaled SEK 730 (1,333) million.

“We have started the last quarter of the year with a good feeling. Real estate values and financial markets have stabilized, and interest rate cut expectations continue to be met. We continue to see a good earnings trend, and both rental income and net operating income and income from property management are on the rise, the latter by over four percent to SEK 985 million. Even if, for example, some of the price increases in rate-based costs are high, we look forward with confidence,” says Anette Frumerie, CEO of Rikshem.

• Rental income was SEK 2,720 (2,605) million
• Rental income for the like-for-like portfolio rose SEK 105 million, or 4.9 percent
• Net operating income totaled SEK 1,519 (1,495) million, an increase of 6.4 percent
• Income from property management increased by 4.5 percent to SEK 985 (943) million
• The change in value of investment properties was SEK 236 (-3,267) million
• Profit before tax for the period was SEK 541 (-2,840) million
• The fair value of the properties, including Rikshem’s share in joint ventures, was SEK 58,839 (58,835) million
• The total return, including joint ventures (R12M), was 1.1 (-4.9) percent

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