year-end report 2024, January to December

14.3 percent net operating income growth,
like-for-like

6.8 percent rental income growth,
like-for-like

Rental income was EUR 357 million,
an increase of 7.4 percent compared to 2023.

The trend in rental income growth continues,
the like-for-like increase was 6.8 percent.
Strong demand for Akelius’ apartments and
completion of capital projects are main drivers.

The like-for-like net operating income growth was
14.3 percent.  
Higher occupancy rates, increasing new lease levels and high levels of cost awareness support the growth.

vacancy rate 4.7 percent

Thanks to completion of capital projects and focus on asset and property management,
the like-for-like vacancy rate decreased by 0.4 percentage points during the last twelve months. 

The real vacancy rate,
excluding construction work and sales,
was 1.9 percent.

capitalization rates seem to stabilize

The capitalization rate went from 4.74 to 4.89 percent during 2024.
The negative value growth was EUR -102 million,
or -1.8 percent.
 

loan-to-value at 36 percent

The loan-to-value decreased during the year from 42 to 36 percent.
Akelius financial policy threshold is 35 percent.
The board of directors has approved the deviation from the financial policy as it is deemed to be marginal.

transfer all Castellum shares to parent company

During the first quarter of 2025,
Akelius Residential Property AB (publ) expects to sell its remaining 51,800,760 shares in Castellum AB to its parent company.
Sales price is 130 SEK per share.
The proceeds will be used to repay maturing debt.

financial guarantee of EUR 1,900 million

In addition, Akelius still has a EUR 1,900 million financial guarantee from the main owner.

improving the portfolio continues

Akelius completed during the year the sale of eight properties
in Paris totaling EUR 20 million.
The properties sold require larger capital investments.

CEO, Ralf Spann       

Akelius is selective with transactions.

Improving the existing portfolio by finishing large capital projects, reducing vacancies and increasing energy efficiency pays off.

With the expected sale of Castellum shares and the financial guarantee from the main owner,
Akelius’ financial position is very strong.
 

Berlin, 2025-02-07

Ralf Spann
CEO

+49 173 643 65 90
[email protected]

This information is information that Akelius Residential Property AB (publ) is obliged to make public pursuant to the Securities Markets Act.

The information was submitted for publication at 10.30am CEST on February 7, 2025.

Akelius Residential Property AB (publ)’s D-shares are listed on Nasdaq First North Growth Market Stockholm.

Avanza Bank is the Certified Adviser of the company, [email protected], +46-8-409 421 20.