Nyfosa AB: Interim report January – June 2021

JANUARY – JUNE 2021

  • Income amounted to MSEK 1,154 (923), up 25 percent.
  • Profit from property management amounted to MSEK 959 (592), up 62 percent.
  • Profit from property management excluding changes in value and tax in joint ventures amounted to MSEK 587 (526), up 11 percent.
  • Distributable cash flow per share amounted to SEK 3.52 (4.07), down 13 percent.
  • Profit after tax amounted to MSEK 1,350 (908).
  • Profit after tax per share was SEK 7.28 (5.07).

APRIL – JUNE 2021

  • Income amounted to MSEK 583 (493), up 18 percent.
  • Profit from property management amounted to MSEK 539 (248), up 117 percent.
  • Profit from property management excluding changes in value and tax in joint ventures amounted to MSEK 300 (266), up 13 percent.
  • Distributable cash flow per share amounted to SEK 2.37 (2.81), down 16 percent.
  • Profit after tax amounted to MSEK 711 (249).
  • Profit after tax per share was SEK 3.82 (1.35).

SIGNIFICANT EVENTS DURING AND AFTER THE QUARTER

  • Possession was taken of properties in three different deals for a value of MSEK 377 during the quarter.
  • In April, Nyfosa announced its decision to build up a diversified property portfolio with a long-term perspective in the Finnish property market, in partnership with Brunswick Real Estate.
  • In April, a green bond was issued to be used in accordance with the company’s established green finance framework and to repurchase outstanding bonds.
  • In June, a directed share issue of 6,521,740 shares was conducted, raising proceeds of approximately MSEK 750.
  • After the end of the period, Nyfosa acquired properties in Finland for   a value of slightly more than MDSEK 2.3.

COMMENTS FROM THE CEO
Nyfosa is continuing to deliver on our commitments – to grow through acquisitions and build up strong, sustainable cash flows. The trend of positive net leasing continued in the second quarter of 2021. Our regional cities are witnessing a high level of activity, we experience that many of our tenants have a positive view of the future and demand for premises remains stable.

We recently made a clear impression on Nyfosa’s new market, Finland, by completing acquisitions for a total of SEK 2.3 billion. These are properties with stable tenants in growing regional cities that provide a solid platform for our continued growth in Finland. We also acquired a portfolio in Norrland during the quarter that supplements our portfolio well, and in addition a number of small deals.

Nyfosa will continue to grow and we can see attractive business opportunities going forward, particularly in Finland. With Nyfosa’s first green bond and a directed share issue, we have strengthened our financial preparedness so that we can act quickly when we identify the right transactions. Investors have shown widespread interest, and naturally we are delighted that our opportunistic business model focusing on strong cash flows is appreciated.
Stina Lindh Hök, CEO