Year-end report 2016: Wihlborgs even stronger
- Rental income rose 6 percent to SEK 2,030 million (1,910).
- Operating surplus improved 8 percent to SEK 1,513 million (1,402).
- Income from property management increased 11 percent to SEK 1,030 million (932)
- Profit for the year totalled SEK 2,976 million (2,278), corresponding to earnings per share of SEK 38.72 (29.64).
- The Board of Directors proposes a dividend of SEK 5.75 (5.25)
“Following a strong final quarter, we delivered extremely positive results for the full-year 2016 and, once again, we noted a record year in terms of both rental income and earnings. The value of our properties increased SEK 2,504 million over the year. The majority of this increase, SEK 1,975 million, stemmed from higher rents and lower yield requirements on our investment properties. However, SEK 529 million of the increase was the result of our project activities,” says Anders Jarl, CEO of Wihlborgs Fastigheter.
“Our strong financial position provides us with a stable platform to continue growing. We will continue to maintain a high level of investment in 2017 and we have identified further growth opportunities in areas including Copenhagen, where we acquired more than 100,000 m2in 2016.”
Wihlborgs Fastigheter AB (publ)
Presentation of the report
At 12:00 noon today, CEO Anders Jarl and CFO Arvid Liepe will present the year-end report at Operaterrassen in Stockholm. The presentation can be followed by webcast or telephone
+46 8 5664 2690 or +44 20 3008 9807.
Link to webcast
This information is of such a kind that Wihlborgs Fastigheter AB (publ) is legally required to disclose pursuant to the EU’s Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication through the agency of the above contact people on 10 February 2017, at 7:30 a.m. CET.
Anders Jarl, CEO, Tel: +46 (0)40 690 57 10
Arvid Liepe, CFO, Tel: +46 (0)40 690 57 31
Wihlborgs Fastigheter AB (publ) is a property company that focuses on commercial properties in the Öresund region. Its property portfolio is located in Malmö, Helsingborg, Lund and Copenhagen.
In Malmö, Lund and Helsingborg, Wihlborgs is the leading property company.
The book value for the Company’s properties totals SEK 33 billion. The annual rental value of the properties is SEK 2.3 billion.
Wihlborgs’ shares are listed on the Large Cap List of Nasdaq Stockholm.