Interim Report - Q2 2020
Cibus Nordic Real Estate AB (publ)
April - June 2020 (compared with April - June 2019)
- Rental income amounted to EUR 16,366 thousand (12,552).
- Net operating income totalled EUR 15,100 thousand (11,459).
- Profit from property management was EUR 7,801 thousand (6,773).
- Earnings after tax amounted to EUR 8,883 thousand (10,247), corresponding to EUR 0.24 (0.33) per share. Unrealised changes in property values totalling EUR 3,002 thousand (5,013) were included in profit.
January - June 2020 (compared with January - June 2019)
- Rental income amounted to EUR 30,406 thousand (25,207).
- Net operating income totalled EUR 28,103 thousand (23,583).
- Profit from property management was EUR 14,642 thousand (14,398).
- Earnings after tax amounted to EUR 15,980 thousand (19,159), corresponding to EUR 0.45 (0.62) per share. Unrealised changes in property values totalling EUR 4,611 thousand (7,784) were included in profit.
"Despite the pandemic, it's business as usual at Cibus." - Sverker Källgården, CEO
Coronavirus
The Coronavirus has had a very limited impact on the results of Cibus's operations. During the second quarter, the impact on profit was negative in the amount of approximately EUR 0.2 million. Slightly more than 99% of our rent for the second quarter was paid. Of our income, about 90% derives from the largest grocery 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 | Q2 2020 | Q2 2019 | Jan-June 2020 | Jan-June 2019 |
| Market value of properties, EUR million | 1,124 | 862 | 1,124 | 862 |
| NOI, current earnings capacity, EUR million | 64.1 | 49.9 | 64.1 | 49.9 |
| Lettable area, thousand sq.m. | 664 | 499 | 664 | 499 |
| Proportion grocery and daily goods shops, % | 96 | 95 | 96 | 95 |
| Number of properties with solar panels | 15 | 3 | 15 | 3 |
| Senior debt LTV ratio, % | 49.0 | 45.4 | 49.0 | 45.4 |
| Net debt LTV ratio, % | 60.5 | 59.0 | 60.5 | 59.0 |
| Interest coverage ratio, multiple | 3.6 | 3.4 | 3.5 | 3.4 |
| EPRA NRV/share, EUR | 11.8 | 11.3 | 11.8 | 11.3 |
| Approved dividend per share paid for the period, EUR | 0.22 | 0.20 | 0.44 | 0.40 |
1Refer to page 28 for alternative performance measures and definitions.
20 August 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 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 CEST on 20 August 2020.
Attached files
Cibus_Pressrelease_2020-08-20.pdfCibus_Interim_Report_Q2_2020.pdf
Cibus_Interim_Report_Q2_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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