Vasakronan’s year-end report January–December 2024

• Rental revenue increased 3% to a total of SEK 9,447 million (9,157). The increase was due to indexation and occupancy in completed projects. In comparable property holdings, the increase in rental revenue was 1%.
• New lettings were contracted corresponding to 128,000 square metres (117,000) and annual rent of SEK 697 million (609). Net lettings amounted to negative SEK 197 million (negative: 65).
• Renegotiations were completed in the year corresponding to an annual rent of SEK 1,859 million (1,480).
• The occupancy rate was 89.1% at the end of the year compared with 90.9% at the end of 2023.
• Operating surplus increased 3% to SEK 7,055 million (6,862). For comparable property holdings, the increase was 1%.
• Net interest amounted to an expense of SEK 1,885 million (expense: 1,730). The increase was due to higher average interest rates during the year.
• Income from property management amounted to SEK 4,845 million (4,852).
• The change in value of investment properties amounted to an increase of SEK 444 million (decrease: 16,550), corresponding to an increase in value of 0.3%. The property portfolio value amounted to SEK 178,183 million (174,569) at the end of the year.
• The Board proposes a dividend totalling SEK 2,000 million (0) to the Annual General Meeting, to be distributed on two occasions.

“We are delivering stable income from property management and a higher operating surplus despite a challenging economy,” says Johanna Skogestig, CEO of Vasakronan.

“Activity in the company remains high and the fourth quarter was also characterised by a large number of customer dialogues. Demanding requirements apply for location, quality and design, and the supply of premises in the market is currently large. I am therefore proud that I can summarize the year’s new lettings and renegotiations of SEK 697 million and SEK 1,859 million, respectively, calculated in annual rent. I consider this a clear indication that Vasakronan’s offering remains strong.”

This information is of such a kind that Vasakronan AB (publ) is legally required to disclose pursuant to the EU’s Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication through the agency of the above contact people on 6 February 2024, at 12:00 p.m. CET.