Large property transactions create value and growth
- Rental income increased to SEK 497 million (316)
- Income from property management improved by 71% to SEK 249 million
- Profit for the period amounted to SEK 432 million (84)
- Property portfolio increased in value to SEK 13,972 million (13,615)
- Long-term net asset value (EPRA NAV) per share was SEK 48.78 (45.72)
- Earnings per share amounted to SEK 3.60 (0.85)
- Acquisition of Piren2 in Lindholmen
- Acquisition of 50% of the Merkur building in the Skeppsbron area
- Agreement with NCC on joint project development in Gårda and option on acquisition of office project in the centre of Mölndal
Platzer’s CEO, P-G Persson, said:
- The property transactions, development projects and lettings that were implemented in 2016 will continue to boost operating profits. Compared with the same period in the previous year, the operating surplus increased by 57% to SEK 367 million, while income from property management rose by 71% to SEK 249 million. The net asset value increased by nearly 7% in the first half of the year, compared with our target of 10% for the full year. This shows that all aspects of our business are creating value, be it day-to-day property management, transactions or development projects.
- The second quarter was a busy time in terms of property transactions for Platzer. We signed an agreement with NCC on a joint development project involving one of our properties in Gårda and on acquisitions in the centre of Mölndal. At the same time, we acquired Piren2 in the Lindholmen area of Gothenburg from Skanska and 50% of the property Merkur in the Skeppsbron area from Bygg Göta. We also sold Säve Depå to Serneke. Sales of future building rights in Södra Änggården continued apace and we hope to be able to reach agreements with buyers already in the next quarter.
For more information, please contact:
P-G Persson, CEO, Platzer, Tel: +46 (0)734 11 12 22
Lennart Ekelund, CFO, Platzer, Tel: +46 (0)703 98 47 87
The information in this press release is information that Platzer Fastigheter Holding AB (publ) is legally obliged to disclose in accordance with the Swedish Financial Instruments Trading Act. The information was released for publication at 08:00 CET on 7 July 2017.
Platzer Fastigheter Holding AB (publ) owns and develops commercial properties in the Gothenburg area comprising a total lettable area of around 800,000 sq. m. and with a value of around SEK 14 billion. Platzer is listed on NASDAQ Stockholm, Mid Cap.