Published by Global Banking & Finance Review®
Posted on February 19, 2025
1 min readLast updated: January 26, 2026
Add as preferred source on Google
SBB reported a smaller Q4 loss and plans to cut costs and sell assets to improve finances as monetary policies ease.
OSLO (Reuters) - Swedish real estate group SBB reported on Wednesday a smaller pretax loss for the fourth quarter compared to a year earlier and said it would continue to cut costs and divest assets in order to boost its finances.
The company was one of several European real estate groups forced to trim debt and restructure in the face of high interest rates in recent years, although conditions began to improve in 2024 as central banks eased monetary policies.
SBB, which owns properties such as hospitals and care homes across Sweden, reported an October-December loss before tax of 613 billion Swedish crowns ($57.25 billion), compared with a loss of 3.37 billion in the final quarter of 2023.
"By the end of 2025, the objective is to increase quality and normalise the central cost level, entailing a significant reduction in the cost level," SBB CEO Leiv Synnes said in a statement.
(Reporting by Terje Solsvik, editing by Louise Rasmussen)
The main topic is SBB's financial performance in Q4, including their smaller loss and plans for cost-cutting and asset sales.
SBB reported a smaller pretax loss of 613 billion Swedish crowns compared to the previous year.
SBB plans to continue cutting costs and selling assets to improve its financial position by 2025.
Explore more articles in the Finance category
