SAMHÄLLSBYGGNADSBOLAGET I NORDEN AB (PUBL): Interim Report January - March 2021
in brief:

  · Rental income was SEK 1,325m (1,341).
  · Operating surplus was SEK 858m (895).
  · Cash flow from operating activities before changes in working capital was
SEK 389m (421).
  · Profit before tax increased to SEK 3,117m (1,695), of which:
    · Profit from property management is included in the amount of SEK 615m
(319). The profit from property management includes costs for early repayment of
loans and other non-recurring costs of SEK -43m (-147).
    · Changes in the values of properties are included in the amount of SEK
2,333m (1,628).
    · Changes in the values of financial instruments are included in the amount
of SEK 163m (-252).

  · Profit for the period was SEK 2,735m (1,372) after the deduction of deferred
tax of SEK -290m (-275) and current tax of SEK -92m (-48), corresponding to
earnings per series A and B ordinary share of SEK 1.75 (0.94) before dilution.
  · The value of the property portfolio amounted to SEK 104.7bn (80.2).
  · Long-term net asset value (EPRA NRV) was SEK 41,525m (37,505), corresponding
to SEK 31.23 (28.21) per share.

FORECAST FOR 2021
For the full year 2021, earnings per ordinary share A and B are estimated to be
SEK 5.15.

"We have turned five years old. And around the same time, we became the Nordic
region's second-largest listed property company with properties valued at
approximately SEK 105bn on the balance sheet. Size matters and our employees and
infrastructure form a unique investment platform that delivers strong results at
all levels. Adjusted for non-recurring costs for repayment of expensive loans
and deductions for earnings attributable to preference shares, series D shares,
hybrid bonds and minority interests, profit for the period amounted to SEK 1.91
per series A and B ordinary share. Adjusted for non-recurring costs, profit from
property management increased by 41 percent in comparison with the first quarter
of 2020 to SEK 843m (596). Our value-add-strategies continue to out-deliver.
Profit from building rights development and property production for the first
quarter of 2021 amounted to SEK 507m, compared with the target of SEK 1.0-1.4bn
on an annual basis. At the end of the first quarter, SBB's portfolio of building
rights amounted to approximately 2,919,000 m2 GFA, corresponding to
approximately 42,000 apartments, which, together with a new production portfolio
of 6,185 apartments, makes SBB the Nordic region's leading property developers.
Profit from investments in the existing portfolio in the first quarter of 2021
amounted to SEK 155m, compared with the target of SEK 600m on an annual basis.
The focus on nursing homes, LSS and rent regulated residentials is intensifying
and we are looking towards Europe. By the end of the first quarter of 2021, our
12-month rolling revenues from elderly care homes and LSS housing had increased
from SEK 800m last year to SEK 1,084m compared to the target of achieving SEK
1.6bn by 2025."

Ilija Batljan
CEO and Founder

Attachment: Interim Report January - March 2021

The Interim Report can also be found in the following link:
sbbnorden.se/en/investor-relations-main/reports/.

For further information, please contact:

Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB,
ilija@sbbnorden.se

This information is information that Samhällsbyggnadsbolaget i Norden AB (publ)
is obliged to make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of the contact
person set out above on 5 May 2021, at 08:00 CET.

Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) is the Nordic region's leading
property company in social infrastructure. The Company's strategy is to long
term own and manage social infrastructure properties in the Nordics and rent
regulated residential properties in Sweden, and to actively work with property
development. Through SBB's commitment and engagement in community participation
and social responsibility, municipalities and other stakeholders find the
Company an attractive long-term partner. The Company's series B shares (ticker
SBB B) and D shares (ticker SBB D) are listed on Nasdaq Stockholm, Large
Cap. Further information about SBB is available at www.sbbnorden.se.

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