Slottsviken (SLOTT) Q4 2024 earnings summary

Executive summary

• Net income for 2024 rose to 3.6 MSEK from 0.8 MSEK year-over-year, with EPS at 1.46 SEK (previously -0.05 SEK).

• Revenue increased to 13.1 MSEK from 8.4 MSEK year-over-year, driven by property acquisitions and higher rental income.

• For the first time, a dividend of 0.10 SEK per share is proposed, reflecting a new dividend policy.

• Substansvärde per share rose to 39.32 SEK at year-end, up 10.3% year-over-year.

• Property portfolio expanded to 107 MSEK after a 49 MSEK acquisition in Q2.

Financial highlights

• Q4 revenue was 4.2 MSEK (2.3 MSEK prior year); operating income 910 TSEK (421 TSEK); net income 688 TSEK (654 TSEK).

• Full-year operating income reached 3.7 MSEK (1.9 MSEK prior year).

• Cash flow from operations was 8.1 MSEK; total cash flow 3.9 MSEK.

• Equity attributable to shareholders at year-end was 42.5 MSEK (33.9 MSEK prior year).

• Loan-to-value (LTV) increased to 46% (30% prior year); average interest rate fell to 5.34% (7.00%).

Outlook and guidance

• Dividend policy aims for steadily increasing payouts, balancing reinvestment and shareholder returns.

• Ongoing property renovations may temporarily impact reported results but are expected to enhance long-term value.

• No significant events reported after year-end; company meets going concern criteria.