Year-end report 2022

Income from property management per share increased 38% during the year. This strong growth is primarily the result of a property acquisition of SEK 7 billion that we carried out in 2021 as well as creating value within our property management. Property values posted a stable trend for the year with a change in value of approximately -1%, primarily due to raised yield requirements, though this was partially offset by value creation within our property management and project operations. NAV per share decreased 1%. Adjusted for increased yield requirements, growth in NAV per share was 11%, all else being equal.
 

“In a short time, we have adapted the company to the new market conditions. Through the sale of properties, we have taken important steps towards a lower loan-to-value ratio and strengthened preconditions for more cost-effective and value-creating property management. We have also started a comprehensive savings programme and implemented a reorganisation to increase focus on property management. We will not be starting any new base upgrade or new production projects in 2023, but are ready to do so once market conditions stabilise. By refinancing loans and actively hedging interest rates, we have extended the company’s average fixed-interest periods and loan-to-maturities. Altogether, these measures further adapt and strengthen the company in an operating environment with continued high cost pressure. However, we need to remain proactive in an uncertain environment,” says Per Nilsson, CEO of John Mattson.

January–December 2022

• Rental revenues totalled SEK 620.9 million (407.9), up 52%.
• Income from property management was SEK 153.9 million (103.1), corresponding to SEK 4.10 per share (2.98), up 38% per share.
• NAV totalled SEK 6,594.8 million (6,396.6). This corresponded to SEK 174.02 per share (175.9), down 1% due to the increase in the number of shares during the year.
• Changes in property values amounted to a decrease of SEK 225.1 million (increase: 1,539.0). Changes in the value of interest-rate derivatives amounted to SEK 264.6 million (48.0).
• Earnings after tax for the year totalled SEK 122.7 million (1,332.5), corresponding to SEK 3.30 per share (38.21).
• Property value totalled SEK 15,695.5 million (15,894.5).
• Investments amounted to SEK 1,001.2 million (6,398.4), of which SEK 643.2 million (6,143.8) pertained to property acquisitions.
• The Board of Directors proposes to the Annual General Meeting that no dividend, that is a dividend of SEK 0 (0), should be distributed for the 2022 financial year.

Lidingö, 22 February 2023
John Mattson Fastighetsföretagen AB (publ)
 

For further information, please contact:
Per Nilsson, CEO of John Mattson
+46 (0)8-613 35 02, [email protected]

Mattias Lundström, CFO of John Mattson
+46 (0)8-613 35 30, [email protected]

This information is information that John Mattson Fastighetsföretagen AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8.00 a.m. CET on 22 February 2023.

About John Mattson Fastighetsföretagen AB (publ)
John Mattson is a residential property company with 4,500 rental apartments as well as commercial premises in five municipalities in the Stockholm region: Lidingö, Sollentuna, Stockholm, Nacka and Upplands Väsby. As of 31 December 2022, the property value was SEK 15.7 billion. The focus of the company’s strategy is on property management, adding value, densification and acquisitions. The management of John Mattson’s properties is characterised by an overall perspective and close customer relationships. The company’s goal is to create great neighbourhoods across generations. John Mattson’s shares are listed on Nasdaq Stockholm, Mid Cap. Read more at: johnmattson.se/in-english/ and corporate.johnmattson.se/en/.