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January - March 2024 (compared with January - March 2023) • Rental income amounted to EUR 30,519 thousand (29,667). • Net operating income totalled EUR 28,114 thousand (27,600). • Profit from property management was EUR 12,229 thousand (11,791). Profit from property management, excluding exchange rate effects, amounted to EUR 12 517 thousand. • Earnings after tax amounted to EUR -3,989 thousand (1,967), corresponding to EUR -0.08 (0.03) per share. • Unrealised changes in value affected by EUR -22,339 thousand (-8,477) on properties and by EUR 3,951 thousand (-2,495) on interest rate derivatives. • EPRA NRV amounted to EUR 680,413 (697,538), corresponding to EUR 11,9 (14,4) per share.
January - March 2024 (compared with January - March 2023)
"Through the measures taken over the quarter on the bond market we now increase our focus on other value-creating measures where we also can create increased cash flow per share for our shareholders."
- Christian Fredrixon, CEO
KEY FIGURES 1 | Q1 2024 | Q1 2023 | Full-year 2023 |
Market value of properties, EUR million | 1,764 | 1,833 | 1,798 |
NOI, current earnings capacity, EUR million | 114.1 | 111.6 | 113.8 |
Lettable area, thousand m2 | 976 | 981 | 976 |
Proportion grocery and daily-goods stores, % | 92.8 | 93.5 | 92.8 |
Number of properties with solar panels | 46 | 43 | 46 |
Senior debt LTV ratio, % | 50.3 | 47.8 | 51.1 |
Net debt LTV ratio, % | 58.7 | 59.8 | 57.5 |
Net debt/EBITDA ratio, multiple (rolling 12 months) | 9.9 | 11.3 | 9.9 |
Interest coverage ratio, multiple (rolling 12 months) | 2.2 | 2.7 | 2.2 |
Approved dividend per share paid for the period, EUR | 0.23 | 0.25 | 0.92 |
1Refer to the full report for alternative performance measures and definitions.
23 April 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:
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 23 April 2024.