Offentliga Hus i Norden (OFFENTLIGAHUS) Q2 2024 earnings summary

Executive summary

• Six properties sold for SEK 561 million and four acquired for SEK 741 million during the first half of 2024.

• Bank financing was raised to repay debt to the parent company.

Financial highlights

• Revenue for January–June 2024 was SEK 167.9 million, up 1% year-over-year; net operating income was SEK 110.9 million, up 11%.

• Period result was SEK 17.0 million, down from SEK 78.0 million last year, mainly due to negative property value changes.

• Property portfolio value increased 1% to SEK 3,914 million.

• Cash flow from operations was SEK 0.001 million.

Outlook and guidance

• Focus remains on long-term, sustainable ownership and development of community properties in growth regions.