Nyfosa AB: Year-end report January-December 2020

JANUARY-DECEMBER 2020

  • Income amounted to MSEK 2,035 (1,370), an increase of 46%.
  • Profit from property management amounted to MSEK 1,334 (1,112), an increase of 20%.
  • Profit from property management excluding changes in value and tax in joint ventures amounted to MSEK 1,145 (814), an increase of 41%.
  • Distributable cash flow per share amounted to SEK 6,71 (4.73), an increase of 42%.
  • Profit after tax amounted to MSEK 2,225 (1,382).
  • Profit after tax per share amounted to SEK 12.25 (8.24).

OCTOBER-DECEMBER 2020

  • Income amounted to MSEK 559 (383), an increase of 46%.
  • Profit from property management amounted to MSEK 365 (460), a decrease of 21%.
  • Profit from property management excluding changes in value and tax in joint ventures amounted to MSEK 275 (213), an increase of 29%.
  • Distributable cash flow per share amounted to MSEK 1.19 (0.93), an increase of 28%.
  • Profit after tax amounted to MSEK 497 (543).
  • Profit after tax per share amounted to 2.70 SEK (3.24).

SIGNIFICANT EVENTS DURING AND AFTER THE QUARTER

  • In October, a mixed property portfolio with a high proportion of tax-financed tenants in Stockholm, Karlstad and Eskilstuna was acquired for a value of about SEK 2.5 billion.
  • In October, a property portfolio of warehouse, industrial and wholesale properties was acquired for about MSEK 870 according to a previous letter of intent.
  • In October, Stina Lindh Hök assumed the position as CEO of Nyfosa.
  • In December, residential properties were divested for a value of MSEK 445.
  • The Board proposes that the Annual General Meeting resolves on an ordinary dividend of SEK 3.00 per share with quarterly payment of SEK 0.75 per share, and an extra dividend of SEK 1.00 per share.

COMMENTS FROM THE CEO

We are closing a strong year for Nyfosa. Completing acquisitions for just over SEK 12 billion and divestments for almost SEK 4 billion in one year is proof that we are passionate about doing business. We constantly strive to improve earnings and to create diversification in the portfolio.

With a positive net leasing during each quarter and a growth of 42 percent in the distributable cash flow per share, I am satisfied with the year. We have coped with the challenges of the pandemic well and our assessment is that we will continue to have good resilience with our breadth in the property portfolio.

I am looking forward to continuing to do good business and develop Nyfosa. We will grow and build cash flows with a healthy balance sheet. For us, our business concept means the freedom to do business where we see opportunities, both in the transaction market and in the property management. And we will do so with an even clearer direction towards sustainability and reduced climate impact.

Stina Lindh Hök, CEO