FastPartner AB

Latest Results (14.08.2024):

Rental Income Growth

In the fourth quarter of 2023, FastPartner AB reported a significant increase in rental income, which grew by 10.5% to SEK 554.9 million compared to SEK 502.0 million in the same quarter of the previous year. This growth was driven by newly signed tenancy agreements, index-linked rent increases, completed tenant adjustments, and new rents from properties acquired in 2022 and 2023.

Net Operating Income

FastPartner AB's net operating income for Q4 2023 rose by 6.5% to SEK 362.2 million, up from SEK 340.0 million in Q4 2022. Despite the challenging market conditions, the company managed to improve its net operating income through effective property management and strategic acquisitions.

Profit from Property Management

Profit from property management for FastPartner AB in the fourth quarter of 2023 decreased by 40.0% to SEK 112.4 million, down from SEK 178.3 million in the same period of the previous year. The decline was primarily due to higher market interest rates, although it was partially offset by increased rental income.

Unrealized Changes in Property Value

During Q4 2023, FastPartner AB reported unrealized changes in the value of its property portfolio amounting to SEK –955.2 million, compared to SEK –1,759.8 million in Q4 2022. This reflects the impact of rising yield requirements for properties due to increased market interest rates.

Income Before Tax

FastPartner AB's income before tax for the fourth quarter of 2023 totaled SEK –852.4 million, a significant improvement from SEK –1,527.6 million in the same quarter of the previous year. Despite the negative impact of higher interest rates, the company managed to mitigate some of the losses through increased rental income and effective cost management.