On 13 May 2025, Sveafastigheter published its interim report for January-March 2025, in which an error was identified after publication. The error identified and corrected relate to incorrectly reported profit from property management of SEK 56m for Q1 2025, on pages 2, 26 and 27 of the report, where the correct information is that profit from property management amounted to SEK 60m in Q1 2025 and SEK 222m rolling 12 months.
The correction of the profit from property management also affects the reported interest coverage ratio rolling 12 months, but does not change the reported key ratio. The error is attributable to the human factor. Sveafastigheter has given a correction sheet for the interim report January-March 2025 which is available on Sveafastigheter's website. It should be read together with the interim report published on 13 May 2025.
| KEY RATIOS | Jan-Mar 2025 | Jan-Mar 2024 | Jan-Dec 2024 |
| Rental income, SEKm | 376 | 312 | 1,361 |
| Net operating income, SEKm | 217 | 166 | 860 |
| Profit from property management, SEKm | 60 | -3 | 160 |
| Value change investment properties, SEKm | -72 | -579 | -1,188 |
| Profit/loss for the period, SEKm | 39 | -714 | -1,125 |
| Earnings per share, SEK | 0.19 | n/a | -8.15 |
| | | | |
| NOI margin, % | 58 | 53 | 63 |
| NOI margin incl. property administration, % | 51 | 45 | 56 |
| Occupancy rate, % | 94.9 | 94.3 | 94.6 |
| | | | |
| Fair value of investment properties, SEKbn | 28.2 | 24.4 | 28.1 |
| Number of apartments managed | 14,794 | 13,051 | 14,669 |
| Number of apartments currently under construction | 908 | 809 | 1,030 |
| Number of apartments currently in project development | 6,716 | 7,832 | 6,844 |
| | | | |
| Loan-to-value, % | 42 | 51 | 42 |
| Interest coverage ratio (12 months), multiple | 2.2 | n/a | 2.2 |
| Long-term net asset value, SEKbn | 16.0 | 13.8 | 15.9 |
| Long-term net asset value, SEK/share | 79.77 | n/a | 79.49 |
| PROFIT FROM PROPERTY MANAGEMENT | 1 Jan 2025 | 1 Jan 2024 | 1 Jan 2024 |
| Amounts in SEKm | 31 Mar 2025 | 31 Mar 2024 | 31 Dec 2024 |
| Profit/loss before tax | 0 | -656 | -1,019 |
| Value changes in financial instruments | -14 | 12 | 40 |
| Value changes and tax, joint venture | - | 62 | -49 |
| Value changes, investment properties | 72 | 579 | 1,188 |
| Impairment/write-down of goodwill | 2 | 0 | 0 |
| Profit from property management | 60 | -3 | 160 |
| INTEREST COVERAGE RATIO (ROLLING 12 MONTHS) | | | |
| Amounts in SEKm | 31 Mar 2025 | 31 Mar 2024 | 31 Dec 2024 |
| Profit from property management | 222 | - | 160 |
| Reversal of one-off costs | 72 | - | 61 |
| Reversal of net interest | 450 | - | 483 |
| Total | 744 | - | 704 |
| | | | |
| Net interest | -450 | - | -483 |
| Interest on subordinated loans to owners | 103 | - | 166 |
| Lease expense | 6 | - | 4 |
| Total | -342 | - | -314 |
| | | | |
| Interest coverage ratio, multiple | 2.2 | n/a | 2.2 |
Sveafastigheter-2025-Q1-English-C