Q3 2024 Interim Report Cibus Nordic Real Estate AB (publ)
July - September 2024 (compared with July - September 2023)
- Rental income amounted to EUR 30,407 thousand (29,765).
- Net operating income totalled EUR 29,219 thousand (30,953, excluding non-recurring income items 28,253)
- Profit from property management was EUR 13,191 thousand (16,810, excluding non-recurring income items 14,110). Profit from property management, excluding non-recurring items and exchange rate effects, amounted to EUR 14,193 thousand.
- Earnings after tax amounted to EUR -5,569 thousand (8,032), corresponding to EUR -0.11 (0.13) per share.
- Unrealised changes in value affected by EUR -6,339 thousand (-5,481) on properties and by EUR -12,979 thousand (-1,065) on interest rate derivatives.
January - September 2024 (compared with January - September 2023)
- Rental income amounted to EUR 91,373 thousand (89,065).
- Net operating income totalled EUR 87,790 thousand (86,603).
- Profit from property management was EUR 35,744 thousand (40,144). Profit from property management, excluding non-recurring items and exchange rate effects, amounted to EUR 39,858 thousand.
- Earnings after tax amounted to EUR -7,332 thousand (13,989), corresponding to EUR -0.16 (0.23) per share.
- Unrealised changes in value affected by EUR -37,016 thousand (-22,216) on properties and by EUR -9,359 thousand (-1,065) on interest rate derivatives.
- EPRA NRV amounted to EUR 749,001 thousand (743,893) corresponding to EUR 11.9 (13.0) per share.
"We currently see attractive opportunities in all of our existing markets. We are also actively assessing new markets in continental Europe."
- Christian Fredrixon, CEO
Key figures 1 | Q3 2024 | Q3 2023 | Jan-sep 2024 | Jan-sep 2023 |
Market value of properties, EUR million | 1,764 | 1,828 | 1,764 | 1,828 |
NOI, current earnings capacity, EUR million | 115.1 | 112.4 | 115.1 | 112.4 |
Lettable area, thousand sq.m. | 979 | 979 | 979 | 979 |
Proportion grocery and daily goods stores, % | 93.1 | 93.2 | 93.1 | 93.2 |
Number of properties with solar panels | 49 | 44 | 49 | 44 |
Senior debt LTV ratio, % | 50.2 | 50.5 | 50.2 | 50.5 |
Net debt LTV ratio, % | 54.6 | 56.7 | 54.6 | 56.7 |
Debt ratio (net debt/EBITDA), multiple (rolling 12 months) | 9.3 | 9.9 | 9.3 | 9.9 |
Interest coverage ratio, multiple (rolling 12 months) | 2.2 | 2.3 | 2.2 | 2.3 |
1Refer to the full report for alternative performance measures and definitions.
5 November 2024
For further information, please contact
Christian Fredrixon, CEO
christian.fredrixon@cibusnordic.com
+46 (0)8 12 439 100
Pia-Lena Olofsson, CFO
pia-lena.olofsson@cibusnordic.com
+46 (0)8 12 439 100
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 more than 450 properties in the Nordics. The largest tenants are Kesko, Tokmanni, Coop Sweden, S Group, Dagrofa and Lidl.
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 5 November 2024.