Preservium Property (PRESRV) Q3 2024 earnings summary

Executive summary

• Rental income including service charges for Jan–Sep 2024 was 57,265 TSEK, up from 55,998 TSEK year-over-year.

• Net operating income for the period reached 51,059 TSEK, compared to 47,264 TSEK last year.

• Net profit for Jan–Sep 2024 was 31,938 TSEK, a significant turnaround from -58,643 TSEK year-over-year.

• Both properties remain fully leased to government/regional tenants with long-term contracts.

• No significant events occurred during or after the reporting period.

Financial highlights

• Q3 2024 rental income was 19,047 TSEK, up from 18,468 TSEK in Q3 2023.

• Q3 net operating income was 17,647 TSEK, up from 16,403 TSEK year-over-year.

• Q3 net profit was 11,408 TSEK, compared to 8,022 TSEK in Q3 2023.

• Market value of properties as of Sep 30, 2024: 1,300,000 TSEK (down from 1,435,000 TSEK year-over-year).

• Cash and cash equivalents at period end: 103,271 TSEK, up from 55,459 TSEK at the start of the year.

Outlook and guidance

• Operations are proceeding as planned with stable, fully leased assets and no changes in business direction.

• Management sees limited short-term risk due to long-term government/regional leases.