Studentbostäder i Norden: Q4 beat and solid outlook - ABG
Q4 NOI +29% y-o-y, +14% vs ABGSCe Property values -0.6%, net LTV 65.8% Occupancy at ~99%
ANNONS
Q4 snapshot
Studentbostäder delivered a Q4 report with rental income of SEK 90m (+11% vs ABGSCe) and NOI of SEK 52m (+14% vs ABGSCe) with a margin of 57.7% (+0.6 pp y-o-y, +1.9 pp vs ABGSCe at 55.9%). Occupancy came in at an impressive 98.8% (99.7% in Q3'22) and the earnings capacity rental income (including project completions and signed acquisitions) increased by 4.9% q-o-q to SEK 451m. Management notes that the number of students generally increase in uncertain times, at the same time as new development project starts in Sweden currently is limited.
