Investors

"We are reporting a profit after tax of SEK 13 m for the third quarter, compared with a loss of SEK 83 m in the corresponding quarter last year. It is gratifying that the increased activity in the company is reflected in our earnings, and that we are now better positioned to capitalise on opportunities in a market that has gained momentum. We are seeing momentum in both existing and new projects, which is reflected in the activities of the business development team and the investment committee. The Konduktören residential project in Veddesta, Järfälla, demonstrates our ability to act quickly on new business opportunities. We signed the agreement to acquire the building rights in the first quarter, and in the third quarter, we sold the project to Hines through a forward funding arrangement, with handover on 30 September. The project comprises 197 rental apartments and is our second deal with Hines, following Kista Äng. Meanwhile, negotiations are progressing regarding the letters of intent we have signed for future project sales.

In addition, we have finalised the financing for the completed stages B and C at Öresjö Ängar in Borås, totalling 134 apartments. This gives us room to continue increasing the occupancy rate and creates favourable conditions for a future sale. Market developments support our business model. Commercial property transactions in Sweden have risen sharply this year, with the strongest first quarter in over 20 years. Residential properties have accounted for around one-third of transaction volume so far this year, and market analysts have raised their full-year forecast to SEK 300 bn, which would be the highest level since 2021. They also anticipate stable yield requirements throughout the year. Newly constructed rental apartments remain one of the most liquid segments of the market. In September, the Riksbank kept its policy rate unchanged at 1.75%, though it signalled that an increase could be on the horizon.

In closing, I would like to thank our clients and partners for their continued trust. A special thank you goes to all our employees. The fact that we are reporting a positive result is thanks to you, and it is proof that our efforts are having an effect. However, we are not stopping here. We are now entering the final quarter of the year with sustained momentum and great determination. Our focus is on converting this greater interest into more business within our core areas of expertise, where we are best positioned to create value."

Mats Brandt,
CEO

Reports archive