Fastpartner: Property value changes of -4.2% - ABG

Q2'23 NOI +15% y-o-y, -1% vs ABGSCe
Value changes -4.2%, net LTV 47.4%
Credit facilities and liquidity for bonds up until 2026


First take on Q2 figures

Fastpartner delivered a Q2 report with rental income of SEK 553m (+12% y-o-y, -3% vs ABGSCe. The NOI margin expandend by 2.1 pp y-o-y to 74.7% (ABGSCe at 72.8%), leading to NOI of SEK 413m (-1% vs ABGSCe). Net financial expenses continue to weigh significantly on earnings, given the company's high share of floating terms, and IFPM amounted to SEK 204m (-27% y-o-y, -5% vs ABGSCe). Total occupancy was flat sequentially at 93.1% (93.3% excluding project properties).

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/fastpartner/Equity-research/2023/7/fastpartner---property-value-changes-of--4.2/