Atrium Ljungberg AB (publ) (ATRLJ_B) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to this call where I and my new CFO Anna Jeppson will present Atrium Ljungberg's Q4 report. The headline for this report is Higher rate of investment in the project portfolio promotes long-term growth. I would like to begin by summarizing the main content of this report. Our property portfolio looks similar to last quarter with 80% of the value in Stockholm. The largest segment offices accounts for 67% of the total value and only 19% for retail. Our net letting amounted to a negative eight million in the fourth quarter. And in addition to that, we have terminated contracts from our side of one million due to upcoming projects. For the full year, we delivered a net letting of 135 million, and termination for upcoming projects, if we include that, the figure amounts to 109 million. A very strong figure in a challenging market. Our profits from property management increased by 4% during the year and the operating surplus in the like-for-like portfolio also increased by 4%. We have ongoing projects with an investment of 9.5 billion, of which 4.4 billion remains to be invested. During the fourth quarter, we invested 700 million in our own properties, and including land, the figure is 1.1 billion. And for the whole of 2024, the corresponding figures landed at 2.3 and 2.6 billion. As you know, our focus is primarily Stockholm, both in our existing properties and in our future investments. The larger areas are Hagastaden, Slussen, Slakthusområdet and Sickla. All areas where we have a metro in Stockholm or where there will be a metro in the coming years. I believe that we have a unique position in our locations. Despite the fact that we are at the bottom of the recession and vacancies has increased in Stockholm, there is still demand for good quality office space. We ...