Sagax: INTERIM REPORT JANUARY-JUNE 2021

2021-07-15 16:00:00
FIRST SIX MONTHS OF 2021
  • Rental revenue increased 6% to SEK 1,506 M (SEK 1,417M in the year-earlier period).
  • Profit from property management increased 16% to SEK 1,364 M (1,177).
  • Profit from property management per Class A and B share after dilution rose 18% to SEK 3.86 (3.26).
  • In total, property revaluation affected profit by SEK 2,753 M (283).
  • Revaluation of financial instruments had an impact on profit of SEK 751 M (-45).
  • Profit after tax for the period was SEK 4,303 M (1,110).
  • Cash flow from operating activities before changes in working capital amounted to SEK 1,249 M (1,296), corresponding to SEK 3.53 (3.63) per Class A and B share after dilution.
  • Net investments amounted to SEK 2,204 M (3,523).
SECOND QUARTER OF 2021
  • Rental revenue increased 8% to SEK 775 M (SEK 715 M in the year-earlier period).
  • Profit from property management increased 19% to SEK 727 M (612).
  • Profit from property management per Class A and B share after dilution rose 23% to SEK 2.06 (1.68).
  • In total, property revaluation affected profit by SEK 970 M (-214).
  • Revaluation of financial instruments had an impact on profit of SEK 525 M (83).
  • Profit after tax for the period was SEK 2,146 M (361).
  • Cash flow from operating activities before changes in working capital amounted to SEK 835 M (880), corresponding to SEK 2.43 (2.52) per Class A and B share after dilution.
  • Net investments amounted to SEK 1,233 M (293), of which property acquisitions accounted for SEK 1,157 M (111).

ADJUSTED FORECAST FOR 2021

Profit from property management for 2021, meaning profit before revaluations and tax, based on the current property portfolio, announced acquisitions and divestments and current exchange rates, is expected to amount to SEK 2,750 M. The previously submitted forecast was for profit of SEK 2,650 M and was presented when the January-March 2021 interim report was published.

For further information, please contact CEO David Mindus, tel +46 8 - 545 83 540.

About Sagax
AB Sagax is a property company whose business concept is to invest in commercial properties, primarily in the warehouse and light industry segment. Sagax's property holdings on 30 June 2021 amounted to 3,615,000 square metres, distributed between 693 properties. AB Sagax (publ) is listed on Nasdaq Stockholm, Large Cap. More information is available at www.sagax.se.

 

This constitutes information that AB Sagax (publ) is legally obliged to publish under the EU's Market Abuse Regulation and the Swedish Securities Market Act. The information was released for publication on 15 July 2021 at 4:00 p.m. (CEST).

Every care has been taken in the translation of this press release. In the event of discrepancies, however, the Swedish original will supersede the English translation.

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