John Mattson's income from property management and net reinstatement value increases in 2024
John Mattson's positive trend continued in 2024. For the full year, the company reports growth both in income from property management and in net reinstatement value. Increased revenue, continued efficiency improvements at properties and lower debt resulted in a 46% increase in income from property management compared with 2023. The surplus ratio amounted to 72% for the period.
Net reinstatement value amounted to SEK 7,174.7 million, corresponding to SEK 94.66 per share, up 8.7% compared with 2023. Value growth in John Mattson's property portfolio amounted to 2.3% for the full year and 0.8% for the quarter.
"John Mattson's continued positive trend in 2024 was highly gratifying to note. After successfully adapting the company to a new macroeconomic environment, we have now entered a new phase, with a focus on growth and sustainability. Initially, we will grow via the existing portfolio through value-creating apartment upgrades and energy efficiency improvements, as our assessment is that these investments are currently the most profitable. This work has already started. Conditions for property companies developed positively in 2024, but we continue to experience uncertain geopolitical conditions. Our stable revenue from housing in attractive areas, long fixed-interest tenors and strong balance sheet mean we are well-prepared for future eventualities and a continued expansion of the company," says Per Nilsson, CEO of John Mattson.
January-December 2024
- Rental revenues totalled SEK 642.7 million (610.4), up 5.3%.
- Net operating income was SEK 459.7 million (437.3), up 5.1%.
- Income from property management was SEK 195.1 million (133.2), corresponding to SEK 2.57 per share (3.37).
- Changes in property values amounted to an increase of SEK 411.4 million (decrease: 1,357.4). Negative changes in the value of interest-rate derivatives amounted to SEK 122.3 million (negative: 170.4).
- Earnings after tax for the year amounted to SEK 433.5 million (loss: 1,255.3), corresponding to SEK 5.66 per share (loss: 31.75).
- Property value totalled SEK 14,097.7 million (13,567.6).
- Investments amounted to SEK 209.6 million (348.7), of which SEK 0.0 million (0.0) pertained to property acquisitions.
- Net Reinstatement Value (NRV) totalled SEK 7,174.7 million (6,600.8). This corresponded to SEK 94.66 per share (87.09), up 8.7%.
- The Board of Directors proposes to the Annual General Meeting that no dividend, that is a dividend of SEK 0 (0), should be distributed for the 2024 financial year.
John Mattson completed a rights issue in Q4 2023, which resulted in an increase of 37,896,965 in the number of shares, meaning that key metrics are not entirely comparable between years.
Lidingö, 13 February 2025
John Mattson Fastighetsföretagen AB (publ)
For further information, please contact:
Per Nilsson, CEO of John Mattson
+46 (0)8-613 35 02 per.nilsson@johnmattson.se
Ebba Pilo Karth, CFO of John Mattson
+46 (0)8-613 35 09, ebba.pilo.karth@johnmattson.se
This information is information that John Mattson Fastighetsföretagen AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8.00 a.m. CET on 13 February 2025.
About John Mattson Fastighetsföretagen AB (publ)
John Mattson is a residential property company with 4,300 rental apartments as well as commercial premises in the Stockholm region: Lidingö, Sollentuna, Stockholm, Nacka and Upplands Väsby. As of 31 December 2024, the property value was SEK 14.1 billion. The focus of the company's strategy is on property management, adding value, densification and acquisitions. Our vision is to create great neighbourhoods across generations. This means we make daily life easier for everyone through a holistic management perspective and close tenant contact, as well as by developing safe and attractive neighbourhoods and local communities. John Mattson's share is listed under the symbol JOMA on Nasdaq Stockholm, Mid Cap. Read more at: johnmattson.se/in-english.
