Atrium Ljungberg AB: Interim Report January-March 2020

"The profit for the first quarter is stable, but the future impact of the Coronavirus pandemic is difficult to assess" says Annica Ånäs, CEO of Atrium Ljungberg.

• Net sales increased to SEK 733 million (SEK 665 m), of which rental income increased to SEK 648 million (SEK 633 m). Rental income in like-for-like portfolios increased by 1.6 per cent.
• The letting rate was 92 per cent (93%), including project properties.
• Net letting amounted to SEK 9 million (SEK -33 m), of which SEK 20 million (SEK -15 m) referred to project properties.
• The operating surplus from property management increased to SEK 435 million (SEK 427 m). The surplus ratio amounted to 67 per cent (67%).
• The profit before changes in value increased to SEK 311 million (SEK 306 m).
• The unrealised changes in the value of investment properties amounted to SEK -1,486 million (SEK 148 m). Unrealised changes in the value of derivatives amounted to SEK -236 million (SEK -160 m).
• The net profit for the period totalled to SEK -1,134 million (SEK 220 m), corresponding to SEK -8.74 per share (SEK 1.69 per share).
• Investments in Atrium Ljungberg's own properties increased to SEK 570 million

(SEK 398 m).

• No forecast is being given for 2020. The previous forecast that was presented in the 2019 year-end report amounted to SEK 1,200 million. Farsta Centrum was sold after we had given this forecast. Added to this is the difficulty in assessing the effects of the coronavirus pandemic, both in terms of the tenants' needs for any rent relief and the impact on Atrium Ljungberg from any bankruptcies, but in particular because we don't know how long the coronavirus pandemic will last.

 

Nacka 16/04/2020
Atrium Ljungberg AB (publ)