May 6, 2020 / 9:36 AM / 23 days ago

BRIEF-Sagax Q1 Rental Revenue Increases 13% To SEK 703 Mln

May 6 (Reuters) - Sagax AB:

* FIRST QUARTER OF 2020

* SAGAX AB - AS A RESULT OF OUTBREAK OF COVID-19, MACROECONOMIC CONDITIONS IN COMPANY’S MARKETS HAVE DETERIORATED AND UNCERTAINTY HAS INCREASED

* SAGAX AB - Q1 PROFIT AFTER TAX FOR PERIOD AMOUNTED TO SEK 749 M (854).

* SAGAX AB - Q1 PROFIT FROM PROPERTY MANAGEMENT SEK 565 MILLION VERSUS SEK 464 MILLION YEAR AGO

* SAGAX AB - IMPACT OF OUTBREAK ON COMPANY HAS BEEN LIMITED TO DATE.

* SAGAX AB - HOWEVER, IMPACT OF NEGATIVE MACROECONOMIC TREND ON SAGAX’S TENANTS IS UNAVOIDABLE

* SAGAX AB - IT IS DIFFICULT TO ASSESS EXTENT TO WHICH SAGAX’S PROFIT FROM PROPERTY MANAGEMENT FOR 2020 WILL BE AFFECTED.

* SAGAX AB - Q1 RENTAL REVENUE INCREASED 13% TO SEK 703 M (622 FOR PRECEDING YEAR)

* SAGAX AB - PROFIT FROM PROPERTY MANAGEMENT FOR 2020, MEANING PROFIT BEFORE REVALUATIONS AND TAX, BASED ON CURRENT PROPERTY PORTFOLIO AND ANNOUNCED ACQUISITIONS AND DIVESTMENTS AND CURRENT EXCHANGE RATES, IS EXPECTED TO AMOUNT TO SEK 2,250-2,300 M Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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