Rental income was EUR 303 million,
an increase of 42.9 percent compared to 2021.
The like-for-like rental income growth was 11.9 percent,
thanks to strong demand for rental housing,
completion of construction projects and vacancy reduction.
The like-for-like vacancy decreased thirty percent during 2022,
from 12.2 percent to 8.6 percent.
The like-for-like net operating income growth was 18.9 percent for the period.
Akelius' focus on increasing cash flow pays off.
At the end of the year,
the market value of the property portfolio was EUR 6,173 million.
The negative value change was EUR 592 million, equivalent to 9.8 percent.
Increasing interest rate levels affects valuations negatively,
while the growing rent levels affect the valuations positively.
Akelius acquired properties for EUR 457 million during the period in Montreal, Toronto, Ottawa, Quebec City, Boston, and Washington D.C.
The average capitalization rate was 4.2 percent.
The loan-to-value at year-end was 16 percent.
CEO, Ralf Spann
Akelius is positively affected by the strong markets for rental apartments,
and negatively affected by higher costs and increased capitalization rates on properties.
Growth in income is usually lasting and key to long-term success, while capitalization rates' changes due to the interest rate tend to be reversed throughout the business cycle.
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This information is information that Akelius Residential Property AB (publ) is obliged to make public pursuant to the Securities Markets Act.
The information was submitted for publication at 07.30am CET on 20 February 2023.
Akelius Residential Property AB's D-shares are listed on Nasdaq First North Growth Market Stockholm.
Avanza Bank is the Certified Adviser of the company,