Vasakronan’s interim report January–September 2024

• Rental revenue increased 3% to a total of SEK 7,048 million (6,826). The increase was primarily due to indexation. In comparable property holdings, the increase in rental revenue was 2%.
• New lettings corresponding to 93,000 square metres (85,000) and annual rent of SEK 505 million (438) were contracted. Net lettings amounted to negative SEK 220 million (negative: 79).
• The occupancy rate was 89.3% at the end of the period and was 90.9% at the end of 2023.
• Operating surplus increased 3% to a total of SEK 5,271 million (5,110). For comparable property holdings, the increase was 2%.
• Net interest amounted to an expense of SEK 1,422 million (expense: 1,294). The increase was due to higher short market interest rates.
• The interest coverage ratio for the last 12 months amounted to a multiple of 3.6 (3.8).
• Income from property management amounted to SEK 3,607 million (3,608), primarily as a result of higher net interest income of SEK 128 million.
• The change in property value amounted to an increase of SEK 585 million (decrease: 9,160) for the period, corresponding to an increase of 0.4% since the start of the year.

“The year was characterised by high activity with many customer dialogues – companies who are looking for new premises have a lot to choose from. Many of them are inclined to optimise floorspace in favour of higher quality and efficiency as well as better locations. This benefits Vasakronan and helps us maintain a high rate of new lettings, which amounted to SEK half a billion for the period.” says Johanna Skogestig, CEO of Vasakronan.

For further information, please contact: