Brief: Studentbostader I Norden Q2 Profit From Propert Management Up At SEK 24 Mln

Studentbostader I Norden AB (publ)

13/07/2023 06:27

July 13 (Reuters) - Studentbostader I Norden AB (publ)
 STUDBO.ST :
    * Q2 REVENUE SEK 93 MILLION VERSUS SEK 66 MILLION YEAR AGO
    * Q2 PROFIT FROM PROPERT MANAGEMENT SEK 24 MILLION VERSUS
SEK 13
MILLION YEAR AGO
    * H1 REVENUES HAVE INCREASED BY 37%, WHICH IS MAINLY
EXPLAINED BY
A A LARGER PROPERTY PORTFOLIO AND RENT INCREASES IN THE EXISTING
PORTFOLIO
    * H1 NET OPERATING INCOME HAS INCREASED BY 53 % WHILE COSTS
HAVE
ONLY INCREASED BY 13 %
    * AT MID-YEAR, THE SURPLUS RATIO WAS 67 %, WHICH CAN BE
COMPARED
WITH 60 %FOR THE SAME PERIOD PREVIOUS YEAR
    * EFFORTS TO STRENGTHEN THE BALANCE SHEET AND TO REDUCE THE 
THE
LOAN-TO-VALUE RATIO CONTINUES
    * DURING H1, 459 MILLION WAS INVESTED IN NEW PRODUCTION,
WITH 198
STUDENT HOMES IN NORRKÖPING AND 531 IN STOCKHOLM READY FOR
OCCUPATION IN AUTUMN 2023
    * COMPLETION  OF THE PROJECTS WILL LEAD TO INCREASED 
REVENUES
DURING THE SECOND HALF OF 2023

Source text for Eikon:  ID:nMFNwbLck 
Further company coverage:  STUDBO.ST 

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