Neobo Fastigheter AB (OSTO:NEOBO)
kr 21.26 -0.36 (-1.67%) Market Cap: 3.09 Bil Enterprise Value: 10.06 Bil PE Ratio: 0 PB Ratio: 0.51 GF Score: 21/100

Q4 2023 Neobo Fastigheter AB (publ) Earnings Call Transcript

Feb 14, 2024 / 09:00AM GMT
Release Date Price: kr13.18 (+9.29%)
Operator

This call is being recorded. Welcome to Neobo Q4 report 2023. (Operator Instructions) Now I will hand the conference over to CEO of Ylva Sarby Westman. Please go ahead.

Ylva Westman
Neobo Fastigheter AB - CEO

Thank you very much, and welcome, everyone, to the presentation on Neobo's year-end report, January to December 2023. My name is Ylva Sarby Westman. And with me here today, I have our CFO, Maria Strandberg.

We have an intense year behind us with several challenges such as sharp interest rate increases, high-cost inflation, and declining market values. However, everything has exceeded expectations and operations have performed positively.

In the like-for-like portfolio, rental income increased by 5% and net operating income by 3.8%. Profit from property management decreased to SEK148 million due to higher financial expenses and one-off costs of SEK18 million related to the start of Neobo. Unrealized value changes in properties amounted minus 8.8% as a consequence of higher yield requirements in the market.

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