Key indicators, income statement, and financial position
Key indicators
Key financial indicators | 1–9/2024 | 1–9/2023 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
Net sales, EUR million | 227,0 | 214,9 | 288,4 | 291,2 | 298,3 | 303,4 | 295,6 |
Net rental income, EUR million | 160,5 | 148,5 | 198,7 | 200,4 | 210,6 | 220,3 | 207,1 |
Operating profit, EUR million | 141,5 | -42,8 | -113,6 | 198,9 | 304,5 | 179,6 | 725,6 |
Net financing expenses, EUR million | -58,1 | -51,4 | -72,2 | -47,0 | -45,1 | -50,0 | -55,1 |
Profit before taxes, EUR million | 83,5 | -94,2 | -185,8 | 151,9 | 259,4 | 129,5 | 670,5 |
Balance sheet total, EUR million | 5 211,8 | 5 108,6 | 5 085,0 | 5 184,7 | 5 091,4 | 5 104,7 | 4 718,2 |
Shareholders' equity, EUR million | 2 583,7 | 2 406,2 | 2 435,0 | 2 480,9 | 2 351,3 | 2 155,7 | 2 055,8 |
Interest-bearing liabilities, EUR million | 2 110,6 | 2 145,9 | 2 159,2 | 2 145,7 | 2 169,5 | 2 381,5 | 2 098,4 |
Return on invested capital, % (ROIC) | 4,1 % | -1,2 % | -2,5 % | 4,3 % | 6,7 % | 4,1 % | 18,9 % |
Return on equity, % (ROE) | 3,6 % | -4,4 % | -6,3 % | 5,0 % | 9,1 % | 4,8 % | 29,6 % |
Equity ratio, % | 49,6 % | 47,1 % | 47,9 % | 47,8 % | 46,2 % | 42,2 % | 43,6 % |
Personnel, average* | 320 | 336 | 333 | 328 | 276 | 229 | 223 |
Personnel at the end of period | 304 | 331 | 323 | 325 | 313 | 242 | 229 |
Key indicators per share | |||||||
Earnings per share, EUR | 0,84 | -1,42 | -2,72 | 2,13 | 3,64 | 1,80 | 9,45 |
Equity per share, EUR** | 30,44 | 42,50 | 43,01 | 43,82 | 41,53 | 38,07 | 36,31 |
Number of shares outstanding, million pcs | 84,9 | 56,6 | 56,6 | 56,6 | 56,6 | 56,6 | 56,6 |
Operational key figures and net asset value | |||||||
Operational earnings, EUR million | 57,2 | 45,3 | 58,7 | 88,5 | 101,6 | 109,0 | 91,4 |
Operational earnings per share, EUR | 0,72 | 0,80 | 1,04 | 1,56 | 1,79 | 1,92 | 1,61 |
Net asset value, EUR million | 2 933,6 | 2 754,9 | 2 767,5 | 2 849,4 | 2 779,3 | 2 577,2 | 2 477,7 |
Net asset value per share, EUR | 34,55 | 48,66 | 48,88 | 50,33 | 49,09 | 45,52 | 43,76 |
Cash earnings, EUR million | 60,2 | 15,0 | 32,9 | 141,3 | 107,9 | 132,1 | 91,2 |
Cash earnings per share, EUR | 0,75 | 0,27 | 0,58 | 2,50 | 1,91 | 2,33 | 1,61 |
Quarterly key financial indicators | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
Net sales, EUR million | 76,5 | 75,8 | 74,7 | 73,5 | 72,5 | 71,5 | 70,9 |
Net rental income, EUR million | 59,3 | 57,5 | 43,7 | 50,2 | 55,1 | 52,5 | 40,8 |
Operating profit, EUR million | 54,5 | 52,2 | 34,9 | -70,8 | 25,8 | -51,5 | -17,1 |
Profit and losses from changes of fair value | 4,0 | 5,1 | 1,7 | -109,3 | -18,0 | -75,1 | -46,9 |
Net financing expenses, EUR million | -22,0 | -20,8 | -15,3 | -20,8 | -18,8 | -17,6 | -15,0 |
Profit before taxes, EUR million | 32,5 | 31,4 | 19,6 | -91,6 | 7,0 | -69,1 | -32,1 |
Earnings per share, EUR | 0,31 | 0,30 | 0,23 | -1,30 | 0,10 | -1,05 | -0,46 |
Average number of shares outstanding, million pcs | 84,9 | 84,9 | 69,7 | 56,6 | 56,6 | 56,6 | 56,6 |
Housing investments, EUR million | 8,9 | 10,0 | 12,8 | 27,5 | 29,8 | 46,5 | 46,2 |
as percentage of net sales | 11,7 % | 13,2 % | 17,1 % | 37,4 % | 41,1 % | 65,0 % | 65,2 % |
Operational key figures | |||||||
Operational earnings, EUR million | 22,2 | 21,1 | 14,6 | 13,4 | 19,7 | 14,3 | 11,3 |
Operational earnings per share, EUR | 0,26 | 0,25 | 0,21 | 0,24 | 0,35 | 0,25 | 0,20 |
Cash earnings, EUR million | 25,9 | 8,8 | 25,5 | 17,8 | 24,6 | -11,3 | 1,7 |
Cash earnings per share, EUR | 0,31 | 0,10 | 0,37 | 0,31 | 0,44 | -0,20 | 0,03 |
* Including seasonal employees.
** Equity excluding non-controlling interests.
SATO's equity and the number of shares have increased after the rights offering completed in 2024. Comparative figures have not been restated.
Consolidated income statement, IFRS
EUR million | 1 Jul–30 Sep 2024 | 1 Jul–30 Sep 2023 | 1 Jan–30 Sep 2024 | 1 Jan–30 Sep 2023 | 1 Jan–31 Dec 2023 |
|---|---|---|---|---|---|
Net sales | 76,5 | 72,5 | 227,0 | 214,9 | 288,4 |
Property maintenance expenses | -17,1 | -17,4 | -66,5 | -66,4 | -89,7 |
Net rental income | 59,3 | 55,1 | 160,5 | 148,5 | 198,7 |
Fair value change of investment properties, realised | 0,5 | -0,8 | 0,7 | -17,8 | -18,7 |
Fair value change of investment properties, unrealised | 4,0 | -18,0 | 10,8 | -140,0 | -249,3 |
Sales, marketing and administrative expenses | -9,0 | -9,5 | -28,8 | -31,2 | -41,4 |
Other operating income | 0,6 | 0,0 | 1,3 | 0,4 | 0,0 |
Other operating expenses | -1,0 | -1,1 | -3,0 | -2,6 | -3,0 |
Share of profit of associated companies and joint ventures | 0,0 | 0,0 | 0,0 | 0,0 | 0,0 |
Operating profit | 54,5 | 25,8 | 141,5 | -42,8 | -113,6 |
Financial income | 4,9 | 6,0 | 23,6 | 13,3 | 17,7 |
Financial expenses | -26,9 | -24,8 | -81,7 | -64,7 | -89,8 |
Net financing expenses | -22,0 | -18,8 | -58,1 | -51,4 | -72,2 |
Profit before tax | 32,5 | 7,0 | 83,5 | -94,2 | -185,8 |
Income tax expenses | -6,4 | -1,5 | -16,6 | 14,1 | 31,9 |
Profit for the period | 26,1 | 5,5 | 66,9 | -80,1 | -153,9 |
Profit for the period attributable to | |||||
Equity holders of the parent | 26,1 | 5,5 | 66,9 | -80,1 | -153,9 |
Non-controlling interests | 0,0 | 0,0 | 0,0 | 0,0 | 0,0 |
Total | 26,1 | 5,5 | 66,9 | -80,1 | -153,9 |
Earnings per share attributable to equity holders of the parent | |||||
Basic, EUR | 0,31 | 0,10 | 0,84 | -1,42 | -2,72 |
Diluted, EUR | 0,31 | 0,10 | 0,84 | -1,42 | -2,72 |
Average number of shares, million pcs | 84,9 | 56,6 | 79,8 | 56,6 | 56,6 |
Consolidated statement of financial position, IFRS
EUR million | 30 Sep 2024 | 30 Sep 2023 | 31 Dec 2023 |
|---|---|---|---|
ASSETS | |||
Non-current assets | |||
Investment property | 4 953,3 | 4 970,9 | 4 885,7 |
Tangible assets | 2,5 | 3,1 | 3,3 |
Intangible assets | 6,6 | 7,0 | 7,2 |
Investments in associated companies and joint ventures | 0,1 | 0,1 | 0,1 |
Other non-current investments | 1,0 | 1,0 | 1,0 |
Other right-of-use assets | 3,7 | 4,6 | 4,2 |
Derivative receivables | 16,1 | 36,0 | 23,0 |
Non-current receivables | 2,7 | 3,2 | 3,1 |
Deferred tax assets | 10,9 | 6,3 | 10,5 |
Total | 4 996,9 | 5 032,1 | 4 938,1 |
Current assets | |||
Account and other receivables | 37,4 | 56,9 | 129,1 |
Current tax assets | 7,1 | 12,4 | 10,8 |
Cash and cash equivalents | 170,4 | 7,1 | 7,0 |
Total | 214,9 | 76,5 | 146,9 |
TOTAL ASSETS | 5 211,8 | 5 108,6 | 5 085,0 |
SHAREHOLDERS' EQUITY AND LIABILITIES | |||
Equity attributable to equity holders of the parent | |||
Share capital | 4,4 | 4,4 | 4,4 |
Fair value and other reserves | 13,0 | 28,7 | 18,1 |
Reserve fund | 43,7 | 43,7 | 43,7 |
Reserve for invested non-restricted equity | 314,8 | 114,8 | 227,9 |
Retained earnings | 2 207,9 | 2 214,8 | 2 141,0 |
Total | 2 583,9 | 2 406,4 | 2 435,2 |
Non-controlling interests | -0,2 | -0,2 | -0,2 |
TOTAL SHAREHOLDERS' EQUITY | 2 583,7 | 2 406,2 | 2 435,0 |
LIABILITIES | |||
Non-current liabilities | |||
Deferred tax liabilities | 377,2 | 390,0 | 366,1 |
Provisions | 1,4 | 1,5 | 1,5 |
Lease liabilities | 54,8 | 54,0 | 54,2 |
Derivative liabilities | 0,6 | 0,5 | 0,1 |
Long-term interest-bearing liabilities | 1 761,9 | 1 474,5 | 1 516,3 |
Total | 2 196,0 | 1 920,5 | 1 938,2 |
Current liabilities | |||
Accounts payable and other liabilities | 75,8 | 102,1 | 58,6 |
Provisions | 0,6 | 0,6 | 0,5 |
Lease liabilities | 5,5 | 5,2 | 5,3 |
Current tax liabilities | 1,5 | 2,4 | 4,4 |
Short-term interest-bearing liabilities | 348,7 | 671,4 | 642,9 |
Total | 432,2 | 781,8 | 711,8 |
TOTAL LIABILITIES | 2 628,2 | 2 702,3 | 2 650,1 |
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES | 5 211,8 | 5 108,6 | 5 085,0 |