Platzer reports continued growth as development projects make good progress

  • Rental income increased to SEK 157 million (139)
  • Income from property management improved by 14% to SEK 67 million
  • Profit for the period amounted to SEK 15 million (39)
  • Property portfolio increased in value to SEK 9,924 million (9,784)
  • Net asset value per share was SEK 39.81 (38.62)
  • Earnings per share amounted to SEK 0.14 (0.41)
  • Favourable detailed planning decision by the Building Committee, giving the green light for Phase 1, which comprises future building rights of 120,000 sq m in Södra Änggården

Platzer’s CEO, P-G Persson, said:

-          There is great dynamism in the Gothenburg area. Municipalities are actively looking to boost construction of housing and office space. As a local player we have a presence in many of the most interesting development areas in and around Gothenburg. We are resolutely trying to initiate as many detailed development plans as possible, including building rights for both housing and office space. As far as the building rights for housing are concerned, we will either sell these or swap them for interesting commercial development or investment properties. In this way, Platzer is contributing to the development of Gothenburg and safeguarding the company’s future growth.

-          In the first quarter of this year we were able to make important progress in our work to initiate detailed development plans in our development areas. A detailed planning decision regarding Södra Änggården meant the go-ahead for Phase 1, which comprises future building rights of 120,000 sq m, a large proportion of which will be housing. 600 flats in the area will form part of the City of Gothenburg’s BoStad 2021 housing project to celebrate the city’s 400th Anniversary. In Backaplan and Gamlestaden we are working hard on the urban development project that is expected to result in finished detailed development plans. Very soon we will also begin construction of our high-profile property at Gamlestads torg.

Platzer Fastigheter Holding AB (publ)

For further information, please contact:

P-G Persson, CEO, phone: +46 (0)734 11 12 22

Lennart Ekelund, CFO, phone: +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 Securities Market Act and/or Swedish Financial Instruments Trading Act. The information was released for publication at 08:00 on 28 April 2016.

Platzer Fastigheter Holding AB (publ) owns and develops commercial properties in the Gothenburg area comprising a total lettable area of around 465,000 sq m and with a value of around SEK 10 billion. Platzer is listed on NASDAQ OMX Stockholm, Mid Cap.