Brief: Oscar Properties Q2 Loss Narrows To SEK 34.5 Mln

Oscar Properties Holding AB

02/09/2024 07:14

Sept 2 (Reuters) - Oscar Properties  OP.ST :
    * SAID ON FRIDAY Q2 RENTAL INCOME SEK 23.8 MLN VS SEK 101.4
MLN YR
AGO
    * Q2 LOSS FROM PROPERTY MANAGEMENT 56.0 MLN VS LOSS SEK 44.3
MLN
YR AGO
    * Q2 NET LOSS SEK 34.5 MLN VS LOSS SEK 138.8 MLN YR AGO
    * Q2 EQUITY SEK -1,190.4 MLN VS SEK 1,973.8 MLN YR AGO
    * TOTAL INTEREST-BEARING LIABILITIES AS AT 30 JUNE 2024 WAS
SEK
1,932.6 MILLION
    * LIABILITIES NO LONGER HAVE INTEREST RATE HEDGING, WHICH
MEANS
THAT CO'S INTEREST EXPENSES FOLLOW MARKET INTEREST RATES WITH A
CERTAIN TIME LAG
    * STILL HAVE SEVERAL SALES PROCESSES UNDERWAY WITH AIM OF
REALISING VALUE AND REPAYING LOANS
    * TRANSACTION MARKET REMAINED SLUGGISH DURING THE SECOND
QUARTER,
RESULTING IN DEALS NOT BEING FINALISED
    * WE ARE MORE ACTIVE IN RENT COLLECTION, WE HAVE ‘BEEFED UP’
THE
MANAGEMENT SO THAT THE BUILDINGS ARE BETTER MANAGED, VACANCIES
HAVE DECREASED - CEO
    * REDUCED QUOTA VALUE ALLOWS US TO ISSUE SHARES TO CREDITORS


        
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