Amhult 2 (AMH2) Q2 2024 earnings summary

Executive summary

• Revenue for January–June 2024 increased to 46,328 TSEK from 40,367 TSEK year-over-year, mainly due to the completion of Kv. Spitfire and rent indexation.

• Net income for the period was 9,120 TSEK, down from 12,645 TSEK year-over-year, impacted by higher interest expenses from new loans.

• Earnings per share for the period were 1.33 SEK, compared to 1.85 SEK in the same period last year.

• No vacancies reported; demand for both new and existing properties remains strong.

Financial highlights

• Operating income (rörelseresultat) for January–June 2024 was 32,602 TSEK, up from 26,760 TSEK year-over-year.

• Total assets as of June 30, 2024, were 1,834,327 TSEK, up from 1,768,920 TSEK at year-end 2023.

• Equity increased to 765,417 TSEK as of June 30, 2024, from 756,297 TSEK at year-end 2023.

• Cash flow from operating activities for January–June 2024 was 18,352 TSEK, compared to 44,187 TSEK for the full year 2023.

• Investments in property, plant, and equipment totaled 56,850 TSEK for the first half of 2024.

Outlook and guidance

• Anticipated interest rate cuts by the Riksbank are expected to positively impact future financing costs.

• Continued strong demand for both new developments and existing properties is expected.