K2A Knaust & Andersson Fastigheter today published its interim report for January-June 2023. During the second quarter, K2A completed more than 400 apartments. During the same period the company completed two large property sales to adapt the balance sheet to an environment of higher interest rates while freeing up capacity for financing further growth. The properties were sold on average 0.1 percent below book value.
April-June 2023 in figures:
- Rental income increased to SEK 111.4 million (87.8).
- Net operating income increased to SEK 82.3 million (62.0).
- Profit from property management amounted to SEK 5.3 million (79.0).
- Changes in value of investment properties amounted to SEK -146.5 million (131.0).
- Profit after tax totalled SEK -64.5 million (184.3) and earnings per ordinary share were SEK -0.98 (1.96).
January-June 2023 in figures:
- Rental income increased to SEK 221.8 million (173.4).
- Net operating income increased to SEK 150.1 million (111.1).
- Profit from property management amounted to SEK 11.6 million (124.0).
- Changes in value of investment properties amounted to SEK -315.4 million (335.6).
- Profit after tax for the period totalled SEK -220.6 million (423.3) and earnings per ordinary share were SEK -3.01 (4.56).
- The total number of managed apartments amounted to 4,829 (4,602).
This disclosure contains information that K2A Knaust & Andersson Fastigheter AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 17-07-2023 13:18 CET.