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Cibus Nordic Real Estate
Earnings Release • May 5, 2022
3026_iss_2022-05-05_320f96e7-fb59-4e8e-aa26-68c1b4a906b4.pdf
Earnings Release
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Q1 2022
Interim Report
Cibus Nordic Real Estate AB (publ)
January – March 2022 (compared with January – March 2021)
— Rental income amounted to EUR 23,465 thousand (19,430).
— Net operating income totalled EUR 21,769 thousand (18,211).
- Profit from property management was EUR 14,575 thousand (11,570).
- Earnings after tax amounted to EUR 35,523 thousand (11,171), corresponding to EUR 0.79 (0.28) per share.
- Unrealised changes in property values totalling EUR 26,532 thousand (193) were included in profit.
- EPRA NRV amounted to EUR 713,216 (487,074), corresponding to EUR 14.7 (12.2) per share.
"We look forward with confidence to the rest of 2022, in which we intend to continue our value-generating and profitable growth."
— Sverker Källgården, CEO
| KEY FIGURES 1 | Q1 2022 | Q1 2021 | Full-year 2021 |
|---|---|---|---|
| Market value of properties, EUR million | 1,543 | 1,270 | 1,500 |
| NOI, current earnings capacity, EUR million2 | 102.2 | 72.6 | 85.8 |
| Lettable area, thousand m2 | 950 | 744 | 867 |
| Proportion grocery and daily-goods stores, % | 94.7 | 95.0 | 94.6 |
| Number of properties with solar panels | 39 | 28 | 39 |
| Senior debt LTV ratio, % | 47.4 | 48.9 | 48.3 |
| Net debt LTV ratio, % | 52.0 | 61.6 | 57.8 |
| Interest coverage ratio, multiple | 3.7 | 3.4 | 3.5 |
| Approved dividend per share paid for the period, EUR3 | 0.24 | 0.23 | 0.93 |
1Refer to the full report for alternative performance measures and definitions.
²Includes the acquisition in Denmark, which was signed in March but with Cibus taking possession on 6 April.
3 Includes dividends that the Extraordinary General Meeting intends to decide on 5 May 2022
Press release
5 May 2022
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 5 May 2022.