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03 | 2021 INTERIM REPORT 1 JANUARY - 30 SEPTEMBER વો AL ATRIUM LJUNGBERG CEO's statement ▶ Atrium Ljungberg in brief Financial reporting Market and property portfolio Our projects Financing ▶ Cash flow statement Sustainability Segment reporting Key performance indicators ► Quarterly summary ▶ Parent company ► Other information ▶ Definitions ▶ Financial calendar Strategic establishments enhance our locations > Net sales amounted to SEK 2,389 m ( SEK 2,166 m ) , of which rental income amounted to SEK 1,692 m ( SEK 1,789 m ) . > The operating surplus from property management amounted to SEK 1,153 m ( SEK 1,205 m ) , a reduction of 4.3 per cent . This reduction is mostly due to the sale of Farsta Centrum in June 2020 and Kolding 3 and 4 in Kista in July 2021. For comparable portfolios , the operating surplus from property management , excluding rebates related to Covid - 19 , increased by 1.2 per cent . > The gross profit for project and construction work amounted to SEK 114 m ( SEK -13 m ) and was positively affected by a profit of SEK 91 m ( SEK - m ) from our tenant - owned dwelling project , which was recognised in the second quarter . > Temporary rebates related to Covid - 19 amounted to SEK 11 m net ( SEK 39 m ) . > Profit before changes in value amounted to SEK 945 m ( SEK 842 m ) . > Unrealised changes in value for investment prop- erties amounted to SEK 1,592 m ( SEK -742 m ) for the period . This increase in value is mostly due to better operating net in the short and long term , and project returns . Unrealised changes in the value of derivatives amounted to SEK 325 m ( SEK - 285 m ) as a result of rise in long - term market interest rates . > Profit for the period amounted to SEK 2,318 m ( SEK 177 m ) . The change compared to the same period in the previous year is mostly due to the change in the value of properties . > Earnings per share amounted to SEK 18.28 ( SEK 1.37 ) . > Net letting for the period amounted to SEK 12 m ( SEK -2 m ) , of which SEK 1 m ( SEK 17 m ) referred to project properties . > Property acquisitions amounted to SEK 25 m ( SEK 266 m ) and property sales to SEK 805 m ( SEK 3,979 m ) . Full year 2020 Jan - Dec Rental income in comparable portfolios , excluding rebates related to Covid – 19 0.5 % 1.2 % Jan - Sep Profit before changes in value , SEK m Q3 945 262 Jan - Sep Q3 Investments in Atrium Ljungberg's held properties , SEK m 1,571 528 Jan - Sep Significant events during the third quarter Q3 > In August all the apartments in the second block in Nobel- berget had been sold . These residentials are scheduled to be ready for occupancy in the third quarter of 2022 . > Several strategic lettings in Sickla were carried out during the quarter with tenants that include IKEA Sverige , Liquid Swords and Key performance indicators " Period 2021 Jan - Sep Period 2020 Jan - Sep Property value at the end of the period , SEK m 49,434 Quarter 2021 Jul - Sep 45,864 49,434 Quarter 2020 Jul - Sep 45,864 47,334 Operating surplus margin , % 68 67 70 70 67 Alba Golf . Average interest on interest - bearing liabilities at the end of the period , % 1.7 1.7 1.7 Share price at the end of the period , SEK per share 183.80 146.60 183.80 NRV at the end of the period , SEK per share 232.13 210.23 232.13 1.7 146.60 210.23 1.6 172.80 217.95 Financial goals 11 Investments in held properties , > SEK 2,000 million per year 1,571 1,809 528 653 2,513 Return on equity , rolling 12 - month period , > 10 % over time 13.0 5.6 13.0 5.6 3.8 Gearing ratio at the end of the period , < 45 % 41.1 40.5 41.1 40.5 39.9 Interest coverage ratio , rolling 12 - month period , > 2.0 5.5 4.2 5.5 4.2 4.6 Ulrika Danielsson was recruited as the new CFO . She starts her job on 15 November . She joins the company from Castellum where she was the Director of Economics and Finance . 11 See page 24 for the complete table of key performance indicators and pages 29-30 for definitions . ATRIUM LJUNGBERG INTERIM REPORT Q3 2021