NP3 Fastigheter (NP3) Q3 2024 earnings summary

Executive summary

• Achieved 10% year-over-year growth in rental income to 1,469 MSEK and 11% growth in operating profit to 629 MSEK for Q3 2024.

• Result after tax rose to 549 MSEK (78 MSEK prior year), or 8.49 SEK per share, driven by higher operating surplus and positive property revaluations.

• Positive net leasing of +28 MSEK, with +14 MSEK in Q3, reflecting strong operational performance.

• Strategic acquisitions in Östersund, increased stake in Cibola Holding AB, and joint venture in With You Sweden AB, expanding the property portfolio.

• Issued 1 billion SEK in new shares and 300 MSEK in green bonds to finance acquisitions and strengthen the balance sheet.

Financial highlights

• Rental income rose to 1,469 MSEK from 1,333 MSEK (+10%) year-over-year.

• Operating profit increased to 629 MSEK from 569 MSEK (+11%) year-over-year.

• Earnings per share grew 9% to 9.88 SEK.

• Property portfolio value increased to 21,127 MSEK, with 515 properties and stable occupancy at 93%.

• Direct yield at 7.1% (6.6% prior year); operating margin (överskottsgrad) at 75–82%.

Outlook and guidance

• Forecasted operating profit for 2024 is 850 MSEK, representing a 14% increase, based on current portfolio and announced acquisitions.

• Emission and acquisitions are expected to strengthen key ratios and enable further investments.

• Positioned for continued growth in a region with significant industrial and infrastructure investments.