Balance Sheet Samhällsbyggnadsbolaget i Norden AB

Equities

SBB B

SE0009554454

Real Estate Development & Operations

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09-04	SBB Intends Listing for Sveafastigheter Unit	MT
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Published financial data: SAMHÄLLSBYGGNADSBOLAGET I NORDEN AB

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Rental Revenues	2B	5.12B	5.93B	7.45B	4.58B
Other Revenues, Total	92M	144M	2.81B	-1.87B	366M
Total Revenues	2.09B	5.26B	8.74B	5.58B	4.95B
Property Expenses	731M	1.64B	1.88B	2.57B	1.37B
Selling General & Admin Expenses, Total	133M	249M	311M	457M	888M
Total Operating Expenses	864M	1.89B	2.19B	3.02B	2.26B
Operating Income (REIT / Utility Template)	1.22B	3.37B	6.55B	2.56B	2.69B
Interest Expense, Total	-444M	-957M	-908M	-1.38B	-1.22B
Interest and Investment Income	92M	166M	274M	222M	241M
Net Interest Expenses	-352M	-791M	-634M	-1.16B	-981M
Currency Exchange Gains (Loss)	100M	144M	-82M	-1.98B	-144M
Other Non Operating Income (Expenses)	2M	-208M	2.6B	-4.92B	-2.76B
EBT, Excl. Unusual Items	974M	2.52B	8.43B	-5.5B	-1.2B
Total Merger & Related Restructuring Charges	-83M	-52M	-86M	-120M	-90M
Impairment of Goodwill	-	-24M	0	-395M	0
Gain (Loss) on Sale of Investments	-	-	-	-	-6.38B
Asset Writedown	2.45B	8.54B	21.36B	-4.57B	-13.32B
Other Unusual Items	-207M	-200M	-157M	424M	36M
EBT, Incl. Unusual Items	3.14B	10.78B	29.55B	-10.16B	-20.95B
Income Tax Expense	513M	1.7B	3.94B	-351M	-2.13B
Earnings From Continuing Operations	2.62B	9.08B	25.6B	-9.81B	-18.83B
Earnings Of Discontinued Operations	-	-	-	-	-2.76B
Net Income to Company	2.62B	9.08B	25.6B	-9.81B	-21.59B
Minority Interest	-	-73M	-1.02B	177M	-464M
Net Income - (IS)	2.62B	9.01B	24.58B	-9.63B	-22.05B
Preferred Dividend and Other Adjustments	-	332M	496M	490M	548M
Net Income to Common Incl Extra Items	2.62B	8.68B	24.09B	-10.12B	-22.6B
Net Income to Common Excl. Extra Items	2.62B	8.68B	24.09B	-10.12B	-19.84B
Per Share Items
Net EPS - Basic	3.17	6.19	15.33	-6.14	-13.71
Basic EPS - Continuing Operations	3.17	6.19	15.33	-6.14	-12.04
Basic Weighted Average Shares Outstanding	829M	1.4B	1.57B	1.65B	1.65B
Net EPS - Diluted	3.17	6.19	15.11	-6.14	-13.71
Diluted EPS - Continuing Operations	3.17	6.19	15.11	-6.14	-12.04
Diluted Weighted Average Shares Outstanding	829M	1.4B	1.59B	1.65B	1.65B
Normalized Basic EPS	0.73	1.07	2.7	-1.98	-0.73
Normalized Diluted EPS	0.73	1.07	2.67	-1.98	-0.73
Dividend Per Share	0.6	1	1.32	1.44	1.2
Payout Ratio	16.23	9.47	7.51	-29.45	-7.52
Supplemental Items
EBITDA	1.23B	3.38B	6.56B	2.57B	2.69B
EBITA	1.22B	3.37B	6.55B	2.56B	2.69B
EBIT	1.22B	3.37B	6.55B	2.56B	2.69B
EBITDAR	1.23B	3.4B	6.58B	2.59B	2.7B
Effective Tax Rate - (Ratio)	16.35	15.77	13.35	3.45	10.15
Total Current Taxes	34M	165M	247M	294M	443M
Total Deferred Taxes	479M	1.54B	3.7B	-645M	-2.57B
Normalized Net Income	609M	1.5B	4.25B	-3.26B	-1.21B
Interest Capitalized	13.91M	31.22M	87M	136M	115M
Interest on Long-Term Debt	132M	31.24B	108M	160M	116M
Supplemental Operating Expense Items
General and Administrative Expenses	126M	224M	290M	433M	878M
Net Rental Expense, Total	7M	25M	21M	24M	10M
Imputed Operating Lease Interest Expense	720K	3.51M	2.31M	3.3M	1.42M
Imputed Operating Lease Depreciation	6.28M	21.49M	18.69M	20.7M	8.58M
Maintenance & Repair Expenses, Total	115M	323M	322M	393M	257M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Gross Property Plant And Equipment	80.04B	90.84B	150B	137B	73.76B
Accumulated Depreciation	-29M	-22M	-41M	-142M	-52M
Net Property Plant And Equipment	80.01B	90.82B	150B	136B	73.7B
Total Real Estate Assets	80.01B	90.82B	150B	136B	73.7B
Cash And Equivalents	12.86B	13.61B	9.84B	4.43B	3.84B
Accounts Receivable, Total	53M	91M	234M	106M	100M
Other Receivables	949M	2.49B	2.21B	1.65B	811M
Investment In Debt and Equity Securities	459M	2.93B	4.58B	2.72B	1.25B
Goodwill	6.69B	6.32B	6.07B	5.28B	2.69B
Other Current Assets, Total	-	151M	556M	679M	546M
Trading Asset Securities, Total	1.04B	-	-	-	-
Deferred Tax Assets Long-Term (Collected)	-	-	-	-	-
Other Long-Term Assets, Total	2.15B	3.82B	21.01B	17.02B	25.16B
Total Assets	104B	120B	195B	168B	108B
Liabilities
Current Portion of Long-Term Debt	5.35B	3.19B	2.93B	7.17B	10.44B
Short-Term Borrowings	4.94B	5.42B	11.17B	1.11B	-
Long-Term Debt	45.82B	46.92B	73.92B	78.81B	51.66B
Long-Term Leases	445M	614M	639M	829M	393M
Accounts Payable, Total	131M	117M	181M	456M	121M
Accrued Expenses, Total	369M	769M	1.34B	1.13B	540M
Current Income Taxes Payable	126M	166M	418M	310M	99M
Unearned Revenue, Current	610M	620M	703M	814M	512M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	9.25B	2.08B	9.52B	4.77B	4.14B
Deferred Tax Liability Non-Current	6.24B	7.17B	10.43B	9.12B	2.73B
Other Non Current Liabilities	22M	1.02B	292M	519M	358M
Total Liabilities	73.31B	68.1B	112B	105B	70.98B
Common Stock, Total	134M	150M	165M	165M	165M
Additional Paid In Capital	17.66B	24.1B	26.37B	26.59B	26.62B
Retained Earnings	6.41B	13.24B	34.78B	17.42B	-7.97B
Comprehensive Income and Other	4.73B	14.23B	17.59B	16.47B	15.86B
Total Common Equity	28.94B	51.72B	78.9B	60.64B	34.68B
Minority Interest	1.96B	412M	4.07B	2.69B	2.44B
Total Equity	30.9B	52.14B	82.97B	63.33B	37.13B
Total Liabilities And Equity	104B	120B	195B	168B	108B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.34B	1.51B	1.65B	1.65B	1.65B
ECS Total Common Shares Outstanding	1.34B	1.51B	1.65B	1.65B	1.65B
Book Value / Share	18.04	24.27	37.45	27.24	11.49
Tangible Book Value	22.25B	45.4B	72.83B	55.36B	31.99B
Tangible Book Value Per Share	13.06	20.08	33.76	24.04	9.86
Total Debt	56.56B	56.15B	88.66B	87.91B	62.49B
Net Debt	42.66B	42.54B	78.83B	83.48B	58.64B
Debt Equivalent Oper. Leases	56M	200M	168M	192M	80M
Minority Interest, Total (Incl. Fin. Div)	1.96B	412M	4.07B	2.69B	2.44B
Equity Method Investments, Total	909M	2.87B	16.37B	12.65B	17.88B
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	50M	44M	89M	179M	158M
Full Time Employees	137	280	69	145	150
Part Time Employees	-	-	8	11	9
Accumulated Allowance for Doubtful Accounts (Supple)	20M	17M	13M	29M	17M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	2.62B	9.01B	24.58B	-9.63B	-22.05B
Depreciation, Depletion & Amortization	3M	2M	5M	10M	6M
Total Depreciation, Depletion & Amortization	3M	2M	5M	10M	6M
Amortization of Deferred Charges, Total	-	-	-	-	-
Total Asset Writedown	-	-	-	-	20.64B
(Income) Loss On Equity Investments - (CF)	-	-144M	-2.81B	2.17B	6.3B
Change in Accounts Receivable	-644M	-1.72B	21M	164M	1.06B
Change in Other Net Operating Assets (Collected)	9.44B	-7.51B	2.18B	-1.53B	-929M
Other Operating Activities	-1.88B	-6.64B	-19.36B	10.94B	2.42B
Net Cash From Discontinued Operations	-	-	-	-	-6.09B
Cash from Operations	9.54B	-7B	4.62B	2.12B	1.35B
Acquisition of Real Estate Assets, Total	-58.28B	-14.02B	-55.93B	-5.25B	-2.98B
Sale of Real Estate Assets, Total	6.67B	12.9B	20.24B	172M	-
Net Sale / Acquisition of Real Estate Assets	-51.6B	-1.12B	-35.69B	-5.08B	-2.98B
Cash Acquisitions	-4.3B	-84M	-	-9.37B	-1.63B
Divestitures	-	-	-	9.68B	12.68B
Purchase / Sale of Intangible Assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-1.72B	-2.63B	-12.1B	4.41B	3.06B
Other Investing Activities, Total	-13M	45M	-170M	-728M	-998M
Cash from Investing	-57.64B	-3.78B	-47.96B	-1.09B	10.13B
Long-Term Debt Issued, Total	53.77B	36.84B	75.77B	62.04B	21.54B
Total Debt Issued	53.77B	36.84B	75.77B	62.04B	21.54B
Long-Term Debt Repaid, Total	-12.36B	-34.88B	-43.54B	-59.71B	-38.88B
Total Debt Repaid	-12.36B	-34.88B	-43.54B	-59.71B	-38.88B
Issuance of Common Stock	18.01B	11.09B	5.33B	-	-
Repurchase of Common Stock	-2.24B	-	-3.26B	-727M	-
Repurchase of Preferred Stock	-	-	-20M	-	-
Common Dividends Paid	-426M	-853M	-1.85B	-2.84B	-1.66B
Common & Preferred Stock Dividends Paid	-426M	-853M	-1.85B	-2.84B	-1.66B
Other Financing Activities, Total	4.05B	-648M	7.12B	-5.2B	6.95B
Cash from Financing	60.8B	11.55B	39.55B	-6.44B	-12.05B
Foreign Exchange Rate Adjustments	-1M	-22M	27M	1M	-16M
Miscellaneous Cash Flow Adjustments	-	-1M	-	-1M	-
Net Change in Cash	12.7B	748M	-3.77B	-5.41B	-584M
Supplemental Items
Cash Interest Paid	459M	958M	1.28B	1.06B	2.24B
Cash Income Tax Paid (Refund)	34M	165M	247M	294M	856M
Net Debt Issued / Repaid	41.4B	1.96B	32.23B	2.33B	-17.34B
Levered Free Cash Flow	10.61B	-6.95B	11.4B	-3.37B	-250M
Unlevered Free Cash Flow	10.89B	-6.35B	11.97B	-2.51B	514M
Change In Net Working Capital	-10.14B	8.46B	-7.9B	4.12B	1.1B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.16	1.88	2.6	0.88	1.21
Return on Total Capital	1.35	2.15	2.93	0.99	1.34
Return On Equity %	12.47	21.88	38	-13.41	-37.48
Return on Common Equity	13.18	21.52	36.99	-14.51	-41.62
Margin Analysis
Gross Profit Margin %	64.99	68.81	78.47	54.02	72.25
SG&A Margin	6.37	4.73	3.56	8.19	17.95
EBITDA Margin %	58.76	64.12	74.97	46.01	54.42
EBITA Margin %	58.62	64.08	74.91	45.83	54.3
EBIT Margin %	58.62	64.08	74.91	45.83	54.3
Income From Continuing Operations Margin %	125.67	172.54	292.78	-175.79	-380.57
Net Income Margin %	125.67	171.15	281.14	-172.62	-445.81
Net Avail. For Common Margin %	125.67	164.84	275.47	-181.4	-401.03
Normalized Net Income Margin	29.15	28.52	48.61	-58.42	-24.48
Levered Free Cash Flow Margin	508.36	-132.03	130.41	-60.41	-5.05
Unlevered Free Cash Flow Margin	521.65	-120.67	136.9	-44.96	10.38
Asset Turnover
Asset Turnover	0.03	0.05	0.06	0.03	0.04
Fixed Assets Turnover	0.04	0.06	0.07	0.04	0.05
Receivables Turnover (Average Receivables)	48.1	71.12	34.38	43.81	44.48
Short Term Liquidity
Current Ratio	0.72	1.32	0.49	0.44	0.33
Quick Ratio	0.72	1.31	0.47	0.39	0.3
Operating Cash Flow to Current Liabilities	0.46	-0.57	0.18	0.13	0.09
Days Sales Outstanding (Average Receivables)	7.59	5.15	10.62	8.33	8.21
Average Days Payable Outstanding	54.67	27.64	28.88	45.3	76.69
Long Term Solvency
Total Debt/Equity	183.07	107.69	106.86	138.81	168.29
Total Debt / Total Capital	64.67	51.85	51.66	58.13	62.73
LT Debt/Equity	149.74	91.18	89.87	125.74	140.18
Long-Term Debt / Total Capital	52.9	43.9	43.44	52.65	52.25
Total Liabilities / Total Assets	70.35	56.64	57.35	62.38	65.66
EBIT / Interest Expense	2.76	3.53	7.21	1.85	2.2
EBITDA / Interest Expense	2.76	3.53	7.22	1.86	2.2
(EBITDA - Capex) / Interest Expense	2.72	3.52	7.19	1.86	2.14
Total Debt / EBITDA	46.1	16.63	13.53	34.23	23.21
Net Debt / EBITDA	34.77	12.6	12.03	32.51	21.78
Total Debt / (EBITDA - Capex)	46.82	16.65	13.59	34.23	23.88
Net Debt / (EBITDA - Capex)	35.32	12.61	12.08	32.51	22.41
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	23.33	152.16	66.08	-36.17	-20.42
Gross Profit, 1 Yr. Growth %	25.18	166.99	89.37	-56.06	-19.97
EBITDA, 1 Yr. Growth %	24.7	177.4	94.16	-60.82	-26.21
EBITA, 1 Yr. Growth %	24.64	177.92	94.13	-60.95	-26.17
EBIT, 1 Yr. Growth %	24.64	177.92	94.13	-60.95	-26.17
Earnings From Cont. Operations, 1 Yr. Growth %	55.27	246.19	195.21	-138.32	81.71
Net Income, 1 Yr. Growth %	55.27	244.06	185.92	-139.19	128.92
Diluted EPS Before Extra, 1 Yr. Growth %	39.2	111.9	171.6	-140.65	85.81
Normalized Net Income, 1 Yr. Growth %	113.6	134.59	188.07	-176.74	-47.15
Net Property, Plant and Equip., 1 Yr. Growth %	216.89	13.51	65.18	-9.03	-46
Accounts Receivable, 1 Yr. Growth %	76.67	71.7	110.81	-54.7	-5.66
Total Assets, 1 Yr. Growth %	276.99	15.38	61.79	-13.44	-35.79
Common Equity, 1 Yr. Growth %	166.07	78.76	53.67	-23.14	-42.81
Tangible Book Value, 1 Yr. Growth %