Fastighets AB Balder
BALD B
ISIN SE0017832488 / Valor 119139906
Fastighets AB Balder
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About company
Fastighets AB Balder, established in 2005, is a prominent property group that has expanded its operations across Sweden, Denmark, Finland, Norway, Germany, and the United Kingdom. The company specializes in a comprehensive range of real estate services that encompass the entire value chain from land acquisition to property management and urban development. Balder's diverse portfolio includes residential properties, both newly constructed and rental apartments, tenant-owner apartments, and a significant number of commercial properties such as offices, shops, warehouses, restaurants, and schools. Additionally, Balder is a major player in the hotel industry, owning approximately 60 hotel properties in key locations across several European cities. The company prides itself on its local presence in the areas of its property holdings, ensuring efficient decision-making, customer proximity, and in-depth knowledge of the local real estate markets. Balder's approach to property development is both independent and collaborative, engaging in partnerships through joint ventures and consortia to foster the development of new urban districts. With over 1,000 employees and a property value exceeding SEK 211.7 billion, Balder's operations reflect a commitment to long-term property management and development, catering to a wide range of tenant needs while contributing to urban growth and development.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (22.12.2024):
Profit from Property Management
In the third quarter of 2024, Fastighets AB Balder reported a profit from property management of SEK 1,715 million, slightly up from SEK 1,707 million in the same period the previous year. The profit attributable to the parent company's shareholders increased to SEK 1,589 million, compared to SEK 1,584 million in the third quarter of 2023. This corresponds to a profit of SEK 1.36 per share, a slight decrease from SEK 1.37 per share in the previous year. The profit from property management included SEK 523 million from associated companies, up from SEK 496 million.
Rental Income Growth
Fastighets AB Balder's rental income for the third quarter of 2024 increased by 7% to SEK 3,228 million, compared to SEK 3,017 million in the same quarter of 2023. This growth was driven by acquisitions, completed projects for own management, and an increase in the index for commercial premises and residential rents. The economic occupancy rate remained stable at 96%, with the total rental value of unlet areas amounting to SEK 592 million at the end of the period.
Property Costs and Net Operating Income
Property costs for the third quarter of 2024 amounted to SEK –2,385 million, up from SEK –2,215 million in the same period the previous year. Despite the increase in costs, net operating income rose by 8% to SEK 7,158 million, maintaining a surplus ratio of 75%. The increase in operating income reflects the company's ability to manage costs effectively while growing its rental income.
Participation in Associated Companies
During the third quarter of 2024, Fastighets AB Balder's profit from participations in associated companies and joint ventures amounted to SEK –132 million, compared to SEK –989 million in the same period the previous year. The company's participation in the associated companies' profit from property management was SEK 1,524 million, up from SEK 1,425 million. This reflects a positive contribution from associated companies despite the overall negative impact on profit before tax due to unrealised changes in value.
Net Financial Items and Liquidity
Net financial items for Fastighets AB Balder in the third quarter of 2024 amounted to SEK –3,035 million, compared to SEK –2,264 million in the same period the previous year. The average interest rate for net financial items was 3.0% as of 30 September 2024. The company maintained strong liquidity, with available liquidity including confirmed loan commitments amounting to SEK 20,060 million, up from SEK 18,535 million in the previous year. This robust liquidity position supports the company's financial stability and future growth opportunities.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
7627 M
Market cap (USD)
607,942
Daily traded volume (Shares)
76.26 / 75.58
1 day high/low (USD)
52 weeks high/low (USD)
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Est dividend (USD)
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