from property management per ordinary share amounted to SEK 3.23 during the
first quarter, which is equivalent to an increase of 33 % compared to the same period
The increase was due to a larger property portfolio, an improved
occupancy rate and surplus ratio as well as increased profits from our
associated companies. My view is that demand for premises and housing will
remain strong, in any case during the coming year.
Acquisitions and divestments
the first quarter, we only made a few smaller acquisitions and divestments and
after the end of the quarter, we vacated previously communicated divestments in
Falköping, Arboga, Köping and Tranås. We also entered into an agreement
regarding the acquisition of a hotel property in Helsinki.
remains intense and there are a large number
of domestic and international buyers of different kinds of properties.
goal is to make net investments over time and thereby increase the company’s
earning capacity. However, we have a great deal of flexibility regarding the
timing of our investments and periodically we can also be a net seller of
single most important event during the quarter occurred in March when we issued
bonds in Euro for the first time. The total value amounted to EUR 1 billion
divided into EUR 500 million with a maturity of 5 years and EUR 500 million
with a maturity of 8 years at a fixed interest rate.
The transaction enables us
to secure our currency risk and extends our interest rate refixing and tied-up
capital periods. The proceeds were primarily used for repayment of secured debt
with shorter maturities.
Our goal is to maintain a strong credit rating and to
be a frequent issuer in the Eurobond market.
Cheif Executive Officer