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Cibus Nordic Real Estate
Earnings Release • Jul 21, 2022
3026_iss_2022-07-21_01c7980a-69ea-4bc4-bcf3-b6b332a42797.pdf
Earnings Release
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21 July 2022
Q2 2022
Interim Report
Cibus Nordic Real Estate AB (publ)
April – June 2022 (compared with April – June 2021)
- Rental income amounted to EUR 27,193 thousand (19,797).
- Net operating income totalled EUR 25,189 thousand (18,472).
- Profit from property management was EUR 13,550 thousand (10,834). An unrealised exchange rate loss of -2,142 is included in the profit.
- Earnings after tax amounted to EUR 30,831 thousand (11,672), corresponding to EUR 0.63 (0.29) per share.
- Unrealised changes in property values totalling EUR 17,183 thousand (2,357) were included in profit.
January – June 2022 (compared with January – June 2021)
- Rental income amounted to EUR 50,658 thousand (39,228).
- Net operating income totalled EUR 46,958 thousand (36,683).
- Profit from property management was EUR 28,125 thousand (22,404). An unrealised exchange rate loss of -1,227 is included in the profit.
- Earnings after tax amounted to EUR 66,354 thousand (22,843), corresponding to EUR 1.42 (0.57) per share.
- Unrealised changes in property values totalling EUR 43,715 thousand (2,540) were included in profit.
- EPRA NRV amounted to 727,797 TEUR (491,890) corresponding to EUR 15.0 (12.3) per share.
"As always, our focus has been on safeguarding a stable and annually increasing monthly dividend, even during turbulent times."
— Sverker Källgården, CEO
Press release
| Key figures 1 | Q2 2022 |
Q2 2021 |
Jan-Jun 2022 |
Jan-Jun 2021 |
|---|---|---|---|---|
| Market value of properties, EUR million | 1 833 | 1 331 | 1 833 | 1 331 |
| NOI, current earnings capacity, EUR million | 103,2 | 76,0 | 103,2 | 76,0 |
| Lettable area, thousand sq.m. | 960 | 784 | 960 | 784 |
| Proportion grocery and daily goods stores, % | 94,5 | 94,1 | 94,5 | 94,1 |
| Number of properties with solar panels | 40 | 32 | 40 | 32 |
| Senior debt LTV ratio, % | 46,4 | 48,5 | 46,4 | 48,5 |
| Net debt LTV ratio, % | 58,0 | 60,1 | 58,0 | 60,1 |
| Interest coverage ratio, multiple | 3,4 | 3,4 | 3,5 | 3,4 |
| Approved dividend per share paid for the period, EUR |
0,24 | 0,23 | 0,48 | 0,46 |
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
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 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 about 450 properties in the Nordics. The main tenants are Kesko, Tokmanni, Coop Sweden, Lidl and S Group.
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 21 July 2022.