JANUARY – MARCH 2020
- Income, MSEK 430 (322)
- Profit after tax, MSEK 659 (160)
- Profit after tax per share, 3.80 SEK (0.96)
SIGNIFICANT EVENTS DURING AND AFTER THE QUARTER
- A directed share issue was completed in February, which raised proceeds of MSEK 601 before transaction costs for Nyfosa.
- A ten-year lease was signed with the Municipality of Luleå.
- A property portfolio comprising 79 commercial properties was acquired for a total value of SEK 4.2 billion.
- A new financial target and a dividend policy were established in March and the business concept and vision were updated.
- Due to the corona pandemic, it was announced that the acquisition of property portfolios from SBB i Norden AB would not go ahead according to the letter of intent.
- Ongoing dialogue with tenants related to the corona pandemic concerning 4 percent of the rental income for the second quarter.
COMMENTS FROM THE CEO
Nyfosa stands steady. We can report a strong first quarter with higher earnings, healthy liquidity and accessed properties for SEK 4.7 billion. We have good fundamental conditions in the prevailing situation with the ongoing corona pandemic, given the breadth of Nyfosa’s tenants in many different industries, but uncertainty is immense. We expect a negative impact in the immediate future. At the current time, it is impossible to assess the extent of this or how long it will last. We are doing what we can – preparing for various scenarios in close contact with our tenants and continuously monitoring the impact on financing and transactions. We are ready and well equipped to resume business when the time comes.
Jens Engwall, CEO