Fastighets AB Forvaltaren

Förvaltaren's owner, city of Sundbyberg, has embarked on a new asset management strategy after the 2018 elections. The new political leadership has shifted focus from asset sales toward increasing the number of apartments in the city. The city's economic fundamentals remain strong and will support Förvaltaren's financial position in the medium term. Förvaltaren's borrowing needs will pick up following debt reduction in previous years. Owing to an increased focus on construction, we expect Förvaltaren's capital expenditure (capex) will gradually increase through 2021. At the same time, we do not expect Förvaltaren will engage in any new sizable divestment scheme over the coming two years. We expect the company will gradually reduce its abnormally high cash reserve by funding investments and

... owner, city of Sundbyberg, has embarked on a new asset management strategy after the 2018 elections. + The new political leadership has shifted focus from asset sales toward increasing the number of apartments in the city. + The city's economic fundamentals remain strong and will support F÷rvaltaren's financial position in the medium term. F÷rvaltaren's borrowing needs will pick up following debt reduction in previous years. + Owing to an increased focus on construction, we expect F÷rvaltaren's capital expenditure (capex) will gradually increase through 2021. + At the same time, we do not expect F÷rvaltaren will engage in any new sizable divestment scheme over the coming two years. + We expect the company will gradually reduce its abnormally high cash reserve by funding investments and amortizing debt, then start to accumulate debt again in 2020....

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