Year-end report 2022
Cibus Nordic Real Estate AB (publ)
October - December 2022 (compared with October - December 2021)
- Rental income amounted to EUR 28,270 thousand (21,585).
- Net operating income totalled EUR 26,492 thousand (20,375).
- Profit from property management was EUR 12,404 thousand (12,801). Profit from property management, excluding non-recurring costs and exchange rate effects, amounted to EUR 13,967 thousand.
- Earnings after tax amounted to EUR -10,568 thousand (16,444), corresponding to EUR -0.23 (0.38) per share.
- Unrealised changes in property values totalling EUR -24,517 thousand (6,280) were included in profit.
January - December 2022 (compared with January - December 2021)
- Rental income amounted to EUR 106,722 thousand (81,058).
- Net operating income totalled EUR 99,607 thousand (76,326).
- Profit from property management was EUR 55,182 thousand (47,741). Profit from property management, excluding non-recurring costs and exchange rate effects, amounted to EUR 60,494 thousand.
- Earnings after tax amounted to EUR 79,990 thousand (51,370), corresponding to EUR 1,66 (1,25) per share.
- Unrealised changes in property values totalling EUR 28,143 thousand (10,644) were included in profit.
- EPRA NRV amounted to EUR 710,125 thousand (591,402) corresponding to EUR 14.7 per share (13.4)
"Although we live in an uncertain world, with our assets, strong tenants and talented employees, we are looking ahead with great confidence!"
- Sverker Källgården, CEO
THE BOARD'S RECOMMENDATION TO THE ANNUAL GENERAL MEETING REGARDING DIVIDEND
The Board of Directors intends to propose to the 2023 Annual General Meeting a dividend of EUR 0.90 (0.99) per share distributed over 12 payment occasions. The Board of Directors intends to submit a complete proposal with monthly amounts and reconciliation dates in connection with the notice to the Annual General Meeting. The dividend is set taking into account today's interest rate situation so that it will be for the company a sustainable level over time. The objective is that going forward be able to increase the dividend from this adjusted level.
|
Key figures 1 |
Q4 |
Q4 |
Jan-Dec 2022 |
Jan-Dec 2021 |
|
Market value of properties, EUR million |
1,851 |
1,500 |
1,851 |
1,500 |
|
NOI, current earnings capacity, EUR million |
110.7 |
85.8 |
110.7 |
85.8 |
|
Lettable area, thousand sq.m. |
981 |
867 |
981 |
867 |
|
Proportion grocery and daily goods stores, % |
94.1 |
94.6 |
94.1 |
94.6 |
|
Number of properties with solar panels |
43 |
39 |
43 |
39 |
|
Senior debt LTV ratio, % |
47.6 |
48.3 |
47.6 |
48.3 |
|
Net debt LTV ratio, % |
59.1 |
57.8 |
59.1 |
57.8 |
|
Interest coverage ratio, multiple |
2.5 |
3.6 |
3.1 |
3.5 |
|
Approved dividend per share paid for the period, EUR |
0.25 |
0.24 |
0.98 |
0.93 |
1Refer to the full report for alternative performance measures and definitions.
For further information, please contact
Sverker Källgården, CEO
[email protected]
+46 761 444 888
Pia-Lena Olofsson, CFO
[email protected]
+46 708 580 453
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 23 February 2023.
Link to the report archive:
About Cibus Nordic Real Estate
Cibus is a real estate company listed on Nasdaq Stockholm Mid Cap. 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 450 properties in the Nordics. The main tenants are Kesko, Tokmanni, Coop, Lidl and S Group.
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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