Fastighets AB Balder (OSTO:BALD PREF.PFD)

kr 349.3 (-0.06%) Market Cap: - Enterprise Value: - PE Ratio: 15.83 PB Ratio: 0.89 GF Score: 74/100

Q4 2024 Fastighets AB Balder Earnings Call Transcript

Feb 07, 2025 / 07:45AM GMT

Transcript

Key Points

Positve

Rental income and operating income both grew by 8% in the last quarter.
Profit from property management per share increased by 3% year-over-year.
Earnings capacity improved by 9% compared to the same period last year.
The company has a diversified portfolio across regions and property types, reducing risk.
Strong cash flow and improved debt metrics allow for potential investments while strengthening the balance sheet.

Negative

Like-for-like rental growth slowed to 3.5%, indicating a potential challenge in maintaining growth momentum.
Net debt to assets remains relatively high at 49.4%.
Interest rate increases in previous years have negatively impacted earnings trends.
The Finnish residential market remains competitive with potential overproduction issues.
The company has decided not to be long-term issuers of hybrid instruments, which may limit financing flexibility.

Operator

Welcome to the Balder Q4 report 2024. (Operator Instructions)

Now, I will hand the conference over to the speakers, CEO, Erik Selin, and CFO, Ewa Wassberg. Please go ahead.

Jonas Erikson

Fastighets AB Balder - Investor Relations

Hi, everyone. Welcome to this call around Balder's Q4 results for 2024. We will first have a brief presentation and then open up for Q&A. And with that, I'll leave the word to Erik Selin, CEO of Balder.

Erik Selin

Fastighets AB Balder - Chief Executive Officer, Director

Hi, everybody, and welcome to this Q4 and results for 2024. The first slide here, Balder at a glance. We are, as you know, a listed real estate company with a focus on the Nordics. We have a few assets in Germany, UK as well. A little bit more than half of the portfolio is residential and the other half commercial. The portfolio is very diversified, both in terms of category and geography.

Looking at the last quarter, the rental income grew 8% as well as the operating income. Profit from property

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