Year-end Report 2017: Continued expansion with proven business model
In its year-end report for 2017, Victoria Park reports a high level of activity, which is generating significant value growth.
- Continued high rate of renovation is creating value.
- Efficient and scalable management model with a social dimension.
- More attractive and safer residential areas through densification projects.
- Revenues increased by 28 percent, to SEK 1,026 M (832)
- Profit from property management increased by 49 percent to SEK 328 M (220), equal to SEK 1.37 per share (0.96).
- Profit after tax amounted to SEK 1,901 M (1,217), equal to SEK 7.83 per share (4.98).
- Cash flow from operating activities before changes in working capital increased by 49 percent to SEK 342 M (230).
- The loan-to-value ratio was 52.5 percent (57.3).
- Net asset value growth increased by 48 percent to SEK 29.65 per share (20.08).
- The Board of Directors proposes a raised dividend of SEK 0.40 per ordinary share (0.30), an increase of 33 percent, and of SEK 20.00 per preference share (20.00).
“Profit from property management for the year increased by a full 49 percent, and we can increasingly see and realise economies of scale in our operations, at the same time as the substantial investments in recent years in energy-saving measures are yielding returns in the form of lower costs. To achieve our overall goal of a property portfolio of SEK 20 Bn by 2020, we work constantly to identify and carry out more acquisitions that fit into our model, and regularly meet representatives from both municipal and private players to this end,” says Victoria Park’s CEO Peter Strand.
PRESENTATION TODAY AT 10:00 A.M.
Today at 10:00 a.m., Victoria Park will give a presentation in Swedish, which can be followed by audiocast on the company’s website. The participants from Victoria Park will be CEO Peter Strand and CFO Tommy Åstrand. To ask questions during the presentation, call +46 (0)8 505 564 74.
FOR FURTHER INFORMATION, PLEASE CONTACT
APPENDIX: Victoria Park AB Year-end Report 2017
This constitutes information that Victoria Park AB is legally obliged to publish according to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was issued by Peter Strand for publication on February 15, 2018, at 7:30 a.m.
Victoria Park AB (publ) is a listed property company, which through long-term management and social responsibility for more attractive residential areas, creates value in an expanding property portfolio in growth districts in Sweden.
Victoria Park’s property portfolio amounts to 1,062,000 square metres, comprising 13,500 flats, with a market value of SEK 15.4 billion. The shares in Victoria Park are listed for trading on the Nasdaq Stockholm Mid Cap exchange.
Victoria Park AB (publ) Box 2, 201 20 Malmö, Tel +46 (0)40 16 74 40, Corporate Reg No 556695-0738, Head Office Malmö, www.victoriapark.se/english