Interim Report - Q3 2020
Cibus Nordic Real Estate AB (publ)
July - Sep 2020 (compared with July - Sep 2019)
- Rental income amounted to EUR 17,011 thousand (13,154).
- Net operating income totalled EUR 16,630 thousand (12,476).
- Profit from property management was EUR 9,521 thousand (7,285).
- Earnings after tax amounted to EUR 9,478 thousand (5,474), corresponding to EUR 0.25 (0.18) per share. Unrealised changes in property values totalling EUR 507 thousand (-783) were included in profit.
January - Sep 2020 (compared with January - Sep 2019)
- Rental income amounted to EUR 47,417 thousand (38,361).
- Net operating income totalled EUR 44,732 thousand (36,058).
- Profit from property management was EUR 24,163 thousand (21,682).
- Earnings after tax amounted to EUR 25,458 thousand (24,634), corresponding to EUR 0.71 (0.79) per share. Unrealised changes in property values totalling EUR 5,117 thousand (7,002) were included in profit.
"Our objective is to provide our shareholders with a stable and increasing dividend - now on a monthly basis."
- Sverker Källgården, CEO
Coronavirus
The Coronavirus has had a very limited impact on the results of Cibus's operations. During the third quarter, the impact on profit was negative in the amount of below EUR 0.1 million. Slightly more than 99% of our rent for the third quarter was paid. Of our income, about 90% derives from the largest daily goods chains in the Nordic countries. During the pandemic, these have successfully provided people with the food they need. In uncertain times, local grocery stores are needed more than ever.
| KEY FIGURES1 | Q3 2020 | Q3 2019 | Jan-sep 2020 | Jan-sep 2019 |
| Market value of properties, EUR million | 1,143 | 862 | 1,143 | 862 |
| NOI, current earnings capacity, EUR million | 65.6 | 49.9 | 65.6 | 49.9 |
| Lettable area, thousand sq.m. | 677 | 500 | 677 | 500 |
| Proportion grocery and daily goods stores, % | 96.4 | 95.5 | 96.4 | 95.5 |
| Number of properties with solar panels | 23 | 12 | 23 | 12 |
| Senior debt LTV ratio, % | 49.1 | 45.4 | 49.1 | 45.4 |
| Net debt, LTV ratio, % | 61.3 | 58.9 | 61.3 | 58.9 |
| Interest coverage ratio, multiple | 3.1 | 3.4 | 3.4 | 3.4 |
| EPRA NRV/share, EUR | 11.8 | 11.4 | 11.8 | 11.4 |
| Approved dividend per share paid for the period, EUR | 0.22 | 0.21 | 0.66 | 0.61 |
1Refer to the full report for alternative performance measures and definitions.
12 November 2020
For further information, please contact
Sverker Källgården, CEO
[email protected]
+46 761 444 888
Pia-Lena Olofsson, CFO
[email protected]
+46 708 580 453
LINK TO THE REPORT ARCHIVE: https://www.cibusnordic.com/investors/financial-reports/
About Cibus Nordic Real Estate
Cibus is a real estate company listed on Nasdaq First North Premier Growth Market in Stockholm. The company's business idea is to acquire, develop and manage high quality properties in the Nordics with daily goods store chains as anchor tenants. The company currently owns more than 280 properties in Finland and Sweden. The main tenants are Kesko, Tokmanni, Coop and S-Group. FNCA Sweden AB, +46(0)8-528 00 399 [email protected], is appointed Certified Adviser.
This information is information that Cibus Nordic Real Estate AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 12 November 2020.
Attached files
Cibus_Pressrelease_2020-11-12_ENG.pdfCibus_Interim_Report_Q3_2020.pdf
Cibus_Interim_Report_Q3_2020_1.pdf
Om Cibus
Cibus affärsidé är att förvärva, förädla och utveckla högkvalitativa fastigheter i Norden med välrenommerade livsmedelsbutiker och dagligvarukedjor som ankarhyresgäster för att kunna ge en stabil, konjunkturoberoende och ökande utdelning till våra aktieägare.
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