Offentliga Hus i Norden (OFFENTLIGAHUS) Q3 2024 earnings summary

Executive summary

• Revenue for January–September 2024 was 240.3 MSEK, down 3% year-over-year, mainly due to property divestments; operating net was 157.3 MSEK, down 2% year-over-year.

• No significant events occurred during the third quarter of 2024.

• The property portfolio value decreased by 3% to 3,764 MSEK, with a direct yield of 4.9% on a rolling 12-month basis.

• Period result was -61 MSEK, mainly due to negative value changes in the property portfolio.

Financial highlights

• Rental income: 240.3 MSEK (247 MSEK previous year), operating net: 157.3 MSEK (161.1 MSEK previous year).

• Administrative costs increased to -16.6 MSEK from -14.6 MSEK year-over-year.

• Interest expenses for the period were 26.2 MSEK (35 MSEK previous year); finance net was 63.8 MSEK (-9.0 MSEK previous year).

• Cash flow from operations was 136 MSEK (113 MSEK previous year).

• Equity at period end was 4,564 MSEK (4,627 MSEK previous year); equity ratio 73.7% (74.7%).

Outlook and guidance

• No explicit forward-looking guidance provided.