Q4 2023 Neobo Fastigheter AB (publ) Earnings Call Transcript
This call is being recorded. Welcome to Neobo Q4 report 2023. (Operator Instructions) Now I will hand the conference over to CEO of Ylva Sarby Westman. Please go ahead.
Thank you very much, and welcome, everyone, to the presentation on Neobo's year-end report, January to December 2023. My name is Ylva Sarby Westman. And with me here today, I have our CFO, Maria Strandberg.
We have an intense year behind us with several challenges such as sharp interest rate increases, high-cost inflation, and declining market values. However, everything has exceeded expectations and operations have performed positively.
In the like-for-like portfolio, rental income increased by 5% and net operating income by 3.8%. Profit from property management decreased to SEK148 million due to higher financial expenses and one-off costs of SEK18 million related to the start of Neobo. Unrealized value changes in properties amounted minus 8.8% as a consequence of higher yield requirements in the market.
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