Net operating income -1% vs. ABGSCe
Net leasing SEK 17m (-4m) and 62m TTM (18m)
Now >20% below peers on P/IFPM
Income from property management +5% vs. ABGSCe
Rental income came in at SEK 180m (165m), compared to our forecast of SEK 183m. Net operating income (NOI) was SEK 139m (124m), -1% compared to our estimate and the NOI margin (77.2%) 0.6pp better. Income from property management (IFPM) amounted to SEK 87m (70m), +5% vs. ABGSCe, as central admin and net financial costs were lower than our estimates. Q2 net leasing summed up to SEK 17m (-4m) in Q2 and SEK 62m (18m) TTM, and the occupancy rate changed by 1pp q-o-q (4pp y-o-y) to 91%. Although the NOI margin fell back sequentially by 1.3pp in the earnings capacity (to 75.4%), the net operating income came up by 2.8% following raised rental income (by 4.5%).
LÄS MER
