- Income amounted to MSEK 2,459 (2,035), up 21 percent.
- Profit from property management amounted to MSEK 1,973 (1,334), up 48 percent.
- Profit from property management excluding changes in value and tax in joint ventures amounted to MSEK 1,302 (1,147), up 14 percent.
- Distributable cash flow per share amounted to SEK 7.64 (6.91), up 11 percent.
- Profit after tax amounted to MSEK 3,112 (2,225).
- Profit after tax per share was SEK 16.49 (12.25).
- Income amounted to MSEK 672 (559), up 20 percent.
- Profit from property management amounted to MSEK 600 (365), up 64 percent.
- Profit from property management excluding changes in value and tax in joint ventures amounted to MSEK 345 (276), up 25 percent.
- Distributable cash flow per share amounted to SEK 2.27 (1.25), up 82 percent.
- Profit after tax amounted to MSEK 1,061 (497).
- Profit after tax per share was SEK 5.52 (2.70).
SIGNIFICANT EVENTS DURING AND AFTER THE QUARTER
- During the quarter, Nyfosa acquired and took possession of a property portfolio in Luleå and a property in Boden at an acquisition price of MSEK 420.
- Properties at an acquisition price of approximately MSEK 1,034 were acquired in Finland during the quarter.
- In December, Nyfosa’s joint venture Samfosa acquired properties in Norway at an acquisition price of MSEK 1,560. Closing took place in January 2022.
- In November, subordinated perpetual floating rate hybrid bonds of MSEK 800 were issued under a framework of MSEK 2,000.
- I November, Nyfosa’s joint venture Söderport received proceeds of MSEK 264 in connection with a repurchase offer from Torslanda Property Investment.
- After the period, in February, properties were acquired in Finland at an acquisition price of MSEK 2,109.
- The Board proposes that the Annual General Meeting resolve on a dividend of SEK 3.80 (3.00) per share with quarterly payments of SEK 0.95 per share, corresponding to MSEK 726.
COMMENTS FROM THE CEO
2021 was yet another an active year for Nyfosa. We took an important step in our growth by establishing our operations in Finland and another step when we entered Norway at the end of the year. With a presence in three strong markets, we are broadening our base for selecting the best business deals.
We have grown rapidly in Finland. Through acquisitions in 2021 and to date this year, totaling about SEK 5.7 billion, we have built up a property portfolio featuring modern offices as well as solid industry and big box retail in growing regional cities, and we see opportunities for more attractive deals. At the start of 2022, our joint venture Samfosa closed on its first acquisition in Norway, a portfolio of more than SEK 1.5 billion.
We are continuing to see stable demand for Nyfosa’s premises and also noted positive net leasing in the fourth quarter of the year. We carried out more than 400 large and small projects during the year aimed at improving our portfolio in various ways. Property management’s efforts to achieve our sustainability targets are continuing and we are working in a structured manner, building by building, to increase the energy efficiency.
During the year, the property portfolio grew in all markets and we delivered healthy growth in earnings, cash flow and return on equity. We could successfully make use of the capital market during the year and our clear focus on cash flow provides us with stability at a stage when there is some uncertainty about the future development of the interest-rates and financing markets.
We are now looking ahead and focusing on what Nyfosa does best: building a high-return property portfolio in our opportunistic way.
Stina Lindh Hök, CEO