Year-end report 2023 Cibus Nordic Real Estate AB (publ)
October - December 2023 (compared with October - December 2022)
- Rental income amounted to EUR 30,063 thousand (28,270).
- Net operating income totalled EUR 28,126 thousand (26,492).
- Profit from property management was EUR 11,788 thousand (12,404). Profit from property management, excluding non-recurring costs and exchange rate effects, amounted to EUR 12,374 thousand.
- Earnings after tax amounted to EUR -33,909 thousand (-10,568), corresponding to EUR -0.60 (-0.23) per share.
- Unrealised changes in value affected by EUR -31,200 thousand (-24,517) on properties and by EUR -20,800 thousand (442) on interest rate derivatives.
January - December 2023 (compared with January - December 2022)
- Rental income amounted to EUR 119,128 thousand (106,722).
- Net operating income totalled EUR 114,729 thousand (99,607).
- Profit from property management was EUR 51,932 thousand (55,182). Profit from property management, excluding non-recurring costs and exchange rate effects, amounted to EUR 51,906 thousand.
- Earnings after tax amounted to EUR -19,919 thousand (79,990), corresponding to EUR -0,41 (1,66) per share.
- Unrealised changes in value affected by EUR -53,416 thousand (28,143) on properties and by EUR -21,865 thousand (14,102) on interest rate derivatives.
- EPRA NRV amounted to EUR 712,847 thousand (710,125) corresponding to EUR 12.5 per share (14.7)
"In my view, grocery properties represent an asset class with a clear future in all business cycles given its distinct place in all communities, in everyone's everyday life and through the robust nature of the grocery and daily-goods segment and its locations."
- Christian Fredrixon, CEO
THE BOARD'S RECOMMENDATION TO THE ANNUAL GENERAL MEETING REGARDING DIVIDEND
The Board of Directors intends to propose to the 2024 Annual General Meeting an unchanged dividend of EUR 0.90 (0.90) 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.
|
Key figures 1 |
Q4 |
Q4 |
Jan-dec |
Jan-dec |
|
Market value of properties, EUR million |
1,798 |
1,851 |
1,798 |
1,851 |
|
NOI, current earnings capacity, EUR million |
113.8 |
110.7 |
113.8 |
110.7 |
|
Lettable area, thousand sq.m. |
976 |
981 |
976 |
981 |
|
Proportion grocery and daily goods stores area, % |
92.8 |
94.1 |
92.8 |
94.1 |
|
Number of properties with solar panels |
46 |
43 |
46 |
43 |
|
Senior debt LTV ratio, % |
51.1 |
47.6 |
51.1 |
47.6 |
|
Net debt LTV ratio, % |
57.5 |
59.1 |
57.5 |
59.1 |
|
Interest coverage ratio, multiple |
2.2 |
3.1 |
2.2 |
3.1 |
|
Approved dividend per share paid for the period, EUR |
0.23 |
0.25 |
0.92 |
0.98 |
1Refer to the full report for alternative performance measures and definitions.
For further information, please contact
Christian Fredrixon, CEO
[email protected]
+46 (0)8 12 439 100
Pia-Lena Olofsson, CFO
[email protected]
+46 (0)8 12 439 100
Link to the report archive:
https://www.cibusnordic.com/investors/financial-reports/
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 29 February 2024.
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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