Year-end Report January – December 2021
Holmström Fastigheter Holding AB (publ) (“Holmström Fastigheter”) was formed in December 2020.
January – December 2021
- Rental income amounted to SEK 84 m.
- Net operating income was SEK 52 m.
- Profit from participations in associated companies was SEK 573 mkr and is mainly attributable to the revaluation of shares in Magnolia Bostad, which took place in connection with the offer to the shareholders of Magnolia Bostad being accepted, and to an effect of reclassification of properties from development and project properties to investment properties in Vincero Fastigheter 5 AB (”Vincero Fastigheter”).
- Changes in the value of investment properties was SEK 311 m. SEK 236 m is due to value-adding investments, increased rents and lower yield requirement. SEK 74 m of the change in value is attributable to the acquisition of companies from F Holmströmgruppen Group in Q1 2021.
- The operating profit was SEK 927 m.
- Profit after financial items was SEK 898 m and net profit for the period was SEK 796 m.
October – December 2021
- Rental income amounted to SEK 28 m.
- Net operating income was SEK 16 m.
- Profit from associated companies was SEK 313 million. SEK 302 million relates to Vincero Fastigheter, and is mainly attributable to an effect of reclassification of properties from development and project properties to investment properties.
- Changes in the value of investment properties was SEK 182 m.
- The operating profit was SEK 508 m.
- Profit after financial items was SEK 495 m and net profit for the period was SEK 424.
Significant events October – December 2021
- Acquisition of two investment properties in Kalmar.
- Nasdaq Stockholm approved Holmström Fastigheter’s application for admission to trading in the bonds.
- Holmström Fastigheter and Brunswick have designed social covenants in a loan of SEK 600 m.
Significant events after the end of the quarter
Holmström Fastigheter, Slättö Core Plus AB (“Slättö”) and Latona Fastigheter AB (“Latona”) have established a JV company regarding the ownership in Klippudden Fastigheter AB, a subsidiary to Holmström Fastigheter prior to the transaction. The collaboration was established in February 2022. After the transaction, the JV company is owned (directly or indirectly) 50% by Slättö, 47.5% by Holmström Fastigheter and 2.5% by Latona. The properties are sold at the valuations available as of December 31, 2021. For properties not yet acquired, Holmström Fastigheter will receive an additional purchase price of close to SEK 50 million. Holmströmgruppen