Mofast (MOFAST) Q4 2024 earnings summary

Executive summary

• Mofast AB focuses on owning, developing, and managing community and residential properties in Swedish growth regions, with a portfolio of 70 properties valued at SEK 2.9 billion and a rentable area of 146,438 sqm.

• 2024 marked a turnaround with improved financial results, driven by property divestments, cost efficiency, and lower interest rates.

• The company aims for long-term, stable, risk-adjusted returns and continues to prioritize value creation through property development and strategic transactions.

Financial highlights

• Full-year 2024 rental income was SEK 220.9m (223.7m), operating net SEK 128.7m (141.0m), and profit before tax SEK 34.5m (-443.4m).

• Q4 2024 rental income was SEK 54.7m (54.5m), operating net SEK 31.1m (30.7m), and profit before tax SEK 12.1m (-218.0m).

• Management result for 2024 increased to SEK 15.0m (9.9m), with Q4 at SEK 6.8m (-3.0m).

• Earnings per share for 2024 were SEK 0.3 (-21.7), and long-term net asset value per share was SEK 39.1 (68.9).

• Cash flow from operations for 2024 was SEK 83.9m (6.1m), with investments of SEK 32.7m and property sales of SEK 26.3m.

Outlook and guidance

• Management expects further strengthening in 2025, supported by lower interest rates, continued divestment of low-yield assets, and efficiency improvements.

• No dividend is proposed for 2024; value-creating activities are prioritized.