Studentbostäder i Norden AB presents annual report and sustainability report for 2024

Studentbostäder i Norden AB (publ) (“SBS”) today publishes its annual report and sustainability report for 2024. In 2024, the Group’s revenues increased by 17 percent to SEK 456 million and the operating surplus increased by 15 percent to SEK 288 million. The net asset value per share amounts to SEK 3.86.

– In recent years, we have proven that SBS can grow despite market challenges. During the second half of 2024, the occupancy rate increased, and our growing housing queue at the end of the year is up to 75,000 applicants. The student housing segment has an increasing customer base in the coming years as we see more young people choosing to study further in higher education, says Rebecka Eidenert, CEO of Studentbostäder i Norden.

Summary of the report:

• Revenues increased by 17 percent to SEK 456 million (390)
• Operating surplus increased by 15 percent to SEK 288 million (250)
• The surplus ratio amounted to 63 percent (64)
• The management result amounted to SEK 19 million (44)
• Earnings per share amounted to SEK 0.03 (-1.27)
• Long-term net asset value per share amounts to SEK 3.86 (3.70)

Selected significant events during 2024

• Refinances loans of SEK 770 million and extends the fixed interest period from 1.7 to 2.1 years and lowers the average interest rate to 4.7 percent from 5.2 percent
• Replaces the existing board through new elections of Tomas Lifvendahl, Leiv Synnes,
  Charlotte Axelsson and Amir Gal. Tomas Lifvendahl is elected as the new chairman of the board.
• Signs a lease agreement with the Stockholm School of Economics covering 107 student apartments.
• Divests residential properties in Karlstad with an underlying property value of SEK 132.5 million
• Employs Victoria Lenander in the newly created role of marketing and sales manager. Victoria Lenander becomes a member of the group management.
• Refinances bank loans of SEK 758 million to a reduced credit margin and lower current amortization.

Selected significant events after the period

• Divests a project property located in the Kronoparken district of Karlstad.
• The Board decides to implement a fully covered preferential rights issue of SEK 145 million before issue costs.

For further information, please contact

Rebecka Eidenert, CEO Studentbostäder i Norden
rebecka.eidenert@sbsstudent.se
+46 (0)70 786 54 54

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About Studentbostäder i Norden

SBS owns, manages and develops student housing in long-term partnerships with municipalities, regions and universities. We offer affordable student accommodation of high quality and a fully digitalized rental management. Our ambition is to become the Nordic region’s leading student housing company and the obvious choice for students on their way to their dream profession.