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Cibus Nordic Real Estate
Earnings Release • Feb 24, 2022
3026_iss_2022-02-24_a1e6e7ec-5410-4dc5-a6b0-a270d008b77c.pdf
Earnings Release
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Year-end report 2021 and proposal for introduction of a new share class and bonus issue
Cibus Nordic Real Estate AB (publ)
October – December 2021 (compared with October – December 2020)
- Rental income amounted to EUR 21,585 thousand (17,616).
- Net operating income totalled EUR 20,375 thousand (16,662).
- Profit from property management was EUR 12,801 thousand (9,325).
- Earnings after tax amounted to EUR 16,444 thousand (9,139), corresponding to EUR 0.38 (0.24) per share. Unrealised changes in property values totalling EUR 6,280 thousand (1,344) were included in profit.
January – December 2021 (compared with January – December 2020)
- Rental income amounted to EUR 81,058 thousand (65,033).
- Net operating income totalled EUR 76,326 thousand (61,395).
- Profit from property management was EUR 47,741 thousand (33,488).
- Earnings after tax amounted to EUR 51,370 thousand (34,597), corresponding to EUR 1,25 (0.95) per share. Unrealised changes in property values totalling EUR 10,644 thousand (6,461) were included in profit.
"We look forward to an intensive year in 2022, as we continue growing in all of the Nordic markets, increasing shareholder value through wise and profitable acquisitions."
— Sverker Källgården, CEO
T HE B O A R D ' S R E C O M M E N D A TI O N T O T HE A N N U A L GE N E R A L M E E T IN G R E GA R D IN G D I V ID E N D
The Board of Directors intends to propose to the 2022 Annual General Meeting:
- That a new share class (D) be established, with a bonus issue being made to existing shareholders in connection with this
- That the dividend be increased by 5% to EUR 0.99 per existing share, to be distributed to all share classes. Accordingly, current shareholders will receive a dividend equivalent to 0.99 EUR for each existing share held and divided between 12 dividend payment dates.
- All share classes are to receive monthly dividends.
The Board intends to submit a complete proposal for a decision in connection with the notice convening the Annual General Meeting.
| Key figures 1 | Q4 2021 |
Q4 2020 |
Jan–Dec 2021 |
Jan–Dec 2020 |
|---|---|---|---|---|
| Market value of properties, EUR million | 1,500 | 1,273 | 1,500 | 1,273 |
| NOI, current earnings capacity, EUR million | 85.8 | 72.6 | 85.8 | 72.6 |
| Lettable area, thousand sq.m. | 867 | 744 | 867 | 744 |
| Proportion grocery and daily goods stores, % | 94.6 | 95.0 | 94.6 | 95.0 |
| Number of properties with solar panels | 39 | 26 | 39 | 26 |
| Senior debt LTV ratio, % | 48.3 | 48.9 | 48.3 | 48.9 |
| Net debt LTV ratio, % | 57.8 | 61.3 | 57.8 | 61.3 |
| Interest coverage ratio, multiple | 3.6 | 3.1 | 3.5 | 3.3 |
| EPRA NRV/share, EUR | 13.5 | 12.1 | 13.5 | 12.1 |
| Approved dividend per share paid for the period, EUR |
0.24 | 0.22 | 0.93 | 0.88 |
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/
24 February 2022
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 400 properties in the Nordics. The main tenants are Kesko, Tokmanni, Coop, 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 CET on 24 February 2022.
Press release — Cibus Nordic Real Estate AB (publ) 3