Neobo Fastigheter AB (FRA:4M2B)
€ 1.577 -0.0060 (-0.38%) Market Cap: 229.10 Mil Enterprise Value: 856.61 Mil PE Ratio: 0 PB Ratio: 0.41 GF Score: 15/100
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Q3 2024 Neobo Fastigheter AB (publ) Earnings Call Transcript

Oct 25, 2024 / 07:00 AM GMT
Release Date Price: €1.8 (-3.31%)

Key Points

Positve
  • Neobo Fastigheter AB (OSTO:NEOBO) successfully entered the NASDAQ Stockholm main market, marking a significant milestone.
  • Rental income increased by 6.3% in the like-for-like portfolio due to rent increases and reduced vacancies.
  • Net operating income rose by 8.5% in the like-for-like portfolio, indicating strong operational performance.
  • The company signed a six-year lease agreement with the Swedish Prison and Probation Service, which will significantly reduce commercial vacancy rates.
  • Neobo Fastigheter AB (OSTO:NEOBO) has a strong financial position with bank financing and recently refinanced loans at lower margins, reflecting improved market sentiment.
Negative
  • Unrealized value changes amounted to a negative 244 million, representing a 1.8% decrease during the year.
  • The occupancy rate decreased by 0.2% in the third quarter due to some commercial tenants moving out.
  • Total property costs increased by 26 million, driven by higher operational and administrative expenses.
  • Net operating income fell by 3 million due to the divestment of seven properties during the year.
  • Increased operating costs were attributed to higher tariff-based costs and snow removal expenses.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NEOBO.ST - Neobo Fastigheter AB (publ)
Q3 2024 Neobo Fastigheter AB (publ) Earnings Call
Oct 25, 2024 / 07:00AM GMT

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Presentation
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Operator [1]
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Good morning, everyone and welcome to the presentation of NBOS interim report, January to September 2024.

My name is Va Sovi Vam and with me here today, I have our CFO Maria Strandberg needs more residentials that people can afford to live in and by managing and refining our properties and adapting them based on people's needs. We want to contribute to a more sustainable residential property market in Sweden.

The fundamental objective of everything we do is to create attractive and sustainable living environments where people can thrive and feel secure and this is an executive summary of our business ID and the single most important factor that will lead to increased returns from the property portfolio
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