Value added through property and project development
• Rental income increased to SEK 394 million (346)
• Profit from property management improved by 24% to SEK 160 million
• Profit for the period amounted to SEK 190 million (193)
• Property value appreciated to SEK 7,363 million (6,913)
• Equity per share was SEK 29.85 (28.47)
• Earnings per share amounted to SEK 1.98 (2.74)
• After the end of the period, property totalling SEK 700 million was acquired
Platzer CEO, P-G Persson, comments:
"After the summer period we have experienced strong, positive net rental activities. The outlook for the development projects that we are working on and are about to launch is more favourable than expected, already creating value added. Combined with a property market in the Gothenburg area that is facing declining return requirements, this will result in the highest value added in a single quarter in Platzer during my time at the helm.”
"Since Platzer's IPO and issue of new shares at the end of last year, we have had the funds to grow through major acquisitions. After the end of the period, we have entered into property purchase agreements worth SEK 700 million in an area whose future development potential fits perfectly well with our growth strategy. I am both pleased and satisfied that we have had the patience and managed to keep our cool to wait for the right business opportunities for us, and we still see potential for attractive property investments in the Gothenburg area."
Platzer Fastigheter Holding AB (publ)
For further information, please contact:
P-G Persson, CEO, tel. +46 734-11 12 22
Lennart Ekelund, CFO, tel. +46 703-98 47 87
The information is of such a nature that Platzer must publish it in accordance with the Securities Market Act and/or Financial Instruments Trading Act. The information was submitted for publication on Thursday 6 Nov at 08:00 am.
Platzer Fastigheter Holding AB (publ) owns and manages commercial properties in the Gothenburg area with a total leasable area of approximately 380,000 square meters with a value of approximately SEK 7,2 billion. Platzers shares are listed on Nasdaq OMX Stockholm, Mid Cap.