Backaheden Fastighets (BACKA) Q4 2024 earnings summary

Executive summary

• Rental income including service fees for Jan–Dec 2024 was 69,208 tkr, up from 54,228 tkr year-over-year.

• Net operating income for the year reached 59,857 tkr, compared to 42,734 tkr last year.

• Annual result improved to 26,931 tkr from -19,875 tkr, reflecting recovery from prior year unrealized value changes.

• All properties fully leased by year-end, with major tenants including Santa Maria, Hedin Group, and Region Halland.

• No significant events occurred after the reporting period.

Financial highlights

• Q4 rental income including service fees was 19,610 tkr, up from 16,023 tkr year-over-year.

• Q4 net operating income was 16,808 tkr, up from 12,174 tkr.

• Q4 result was 10,329 tkr, compared to -30,072 tkr last year.

• Market value of properties at year-end was 1,092,300 tkr, up from 983,467 tkr.

• Cash flow from operations for the year was 21,576 tkr; cash and equivalents at year-end were 21,539 tkr.

Outlook and guidance

• Long-term earnings capacity per share estimated at 8.43 kr as of January 2025.

• No dividend proposed; profits to be retained to strengthen the balance sheet ahead of refinancing in December 2025.