Aktieanalys

Fastpartner: Another IFPM miss due to net financials - ABG

ABG Sundal Collier Publicerad: 19 Oct 2023 14:20

Q3 NOI and Rec PTP -1% and -8% vs ABGSCe
Limited (~0%) property value changes
Cons IFPM estimates down ~3-5%

First take on Q3 figures

Fastpartner delivered a Q3 report with rental income of SEK 545m (+6% y-o-y, -2% vs ABGSCe) with a strong NOI margin of 74.2% (+2 pp y-o-y, +1.2 pp vs ABGSCe), which drove NOI -1% vs ABGSCe. Net financial expenses were yet again higher than expected, leading to a rec PTP / IFPM deviation vs ABGSCe of -8%. Fastpartner has announced several signed leases during the quarter, but does not report a net leasing figure and those leases do not have an immediate effect on occupancy, which stand at 92.9% as of Q3 (-20 bps q-o-q), or 93.1% adjusted for projects (-20 bps q-o-q).

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/fastpartner/Equity-research/2023/10/fastpartner---another-ifpm-miss-due-to-net-financials/

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