Year-end report 2019

Claesson & Anderzén AB has published its annual report for 2019. The annual report can be downloaded from the website:

Rental income amounted to SEK 626 M (587) during 2019 and the operating surplus of the property management amounted to SEK 392 M (360). The Group’s total management volume increased during the year and the increase was mainly concentrated to the Stockholm region. The occupancy rate at the end of the year was 94 % (93).

Only one property sale was completed in 2019, the sale of a commercial property in Jönköping. Profit from property sales amounted to SEK 283 M (265). The department of construction has had an increased focus on construction projects intended for own management. The result from external projects in 2019 amounted to SEK 13 M (50).

The agricultural operations’ earnings in 2019 amounted to SEK 1 M (115). The decline in earnings is due to negative weather conditions and a great strengthening of the Ukrainian currency during the later part of the year. Weather conditions, mainly in the form of unfavorable rainfall, has had a negative impact on growth and the volume produced has thus decreased. The sale of grain is mainly priced in USD and the stronger domestic currency has meant that the revenue in local currency, which is mostly realized at the end of the year, has decreased as a result of the domestic currency appreciation.

The Group’s net financial income improved significantly in 2019 compared with the previous year. Net financial items in 2019 amounted to SEK -58 M (-308). Net financial items include the Group’s holdings in Catella AB (publ), which is reported as an associated company. At the end of 2019, the Group’s average loan interest rate was 2.30 % (2.75).

Consolidated profit after tax in 2019 amounted to SEK 359 M (263). The equity/assets ratio, not taking into account market values, was 41 % (42) at the end of 2019. The total value of the Group’s property portfolio is assessed at the closing rate, based on external valuations amounting to SEK 12.9 billion (11.6, not external valuation). Adjusted equity/assets ratio is thus 61 % (66).

The Group is well prepared for the future with strong cash flows, a low loan-to-value ratio and a well-differentiated project portfolio.