Hemfosa appoints Board of Directors and names new subsidiary – Nyfosa AB
The Board of Directors of Hemfosa Fastigheter has resolved to appoint the Board of Directors for the newly formed subsidiary, which comprises Hemfosa’s portfolio of commercial properties and that is being evaluated for distribution. The new subsidiary will be called Nyfosa – a name that clearly points to its roots in Hemfosa and its corporate culture.
The process involving an in-depth analysis of the opportunities and structure for a split of the Hemfosa Group into two listed companies with the aim of creating greater shareholder value is progressing. During the first quarter of 2018, work has been done on forming a subsidiary, Nyfosa, consisting of Hemfosa’s other properties. In the event of a resolution in favor of demerger, the distribution of shares in Nyfosa and a listing is expected to take place in the second half of 2018.
The Board of Directors of Nyfosa
The Board of Directors of Hemfosa Fastigheter has resolved that the Board of Directors of Nyfosa should consist of Bengt Kjell as Chairman of the Board and Jens Engwall, Marie Bucht Toresäter, Lisa Dominguez Flodin, Johan Ericsson, Per Lindblad and Kristina Sawjani as Board members. The Board of Nyfosa intends to take up its duties on May 7, 2018.
Bengt Kjell is currently Chairman of the Board of Hemfosa Fastigheter AB, SSAB and Expassum AB, and also Deputy Chairman of Indutrade AB and Pandox AB. He is also Board member of AB Industrivärden and ICA Gruppen AB, among other companies.
Jens Engwall is currently CEO and Board member of Hemfosa Fastigheter AB, and also Board member of Bonnier Fastigheter AB, Quanta Fuel AS and Hemfosa Gård AB, among other companies.
Marie Bucht Toresäter
Marie Bucht Toresäter currently works as CEO of Novi Real Estate AB and has previously held senior positions at companies including NewSec Advice, Skanska ID and NCC Property Development Nordic AB.
Lisa Dominguez Flodin
Lisa Dominguez Flodin currently works as CEO of Cibus Nordic Real Estate and as CFO of Grön Bostad AB. She has previously held senior positions at companies including Oscar Properties AB and Cityhold Property AB and Board assignments for NP3 Fastigheter AB.
Johan Ericsson currently works as CEO of Klockarbäcken Property Investment AB and CEO of Logistea AB, and is Board member of Brinova AB as well as Chairman of the Board and partner of SHH Bostad AB. Prior to that, Johan worked at Catella AB, where he held various senior positions, including President and CEO.
Per Lindblad currently works as CEO of Landshypotek Bank and prior to this worked at companies including SEB where he was Head of Real Estate Finance, Large Corporates and Financial Institutions.
Kristina Sawjani currently works as Senior Investment Manager of Folksam Fastigheter and has previously held senior positions at AFA Fastigheter and Catella Corporate Finance as head of property transactions and project manager, respectively.
Updated financial information
Community service properties* in Hemfosa’s portfolio had a value of MSEK 30,043 on March 31, 2018, corresponding to approximately 67 percent of the total property value. The 329 community service properties had, on the same date, rental income of MSEK 2,205 and net operating income of MSEK 1,673 according to the earnings capacity at March 31, 2018. The properties encompass premises for schools, offices for public authorities and municipalities, the judicial system such as the police and courts, as well as health and care services.
On March 31, 2018, Hemfosa’s other property portfolio comprised 150 commercial properties with office, logistics and warehouse premises, plus a small number of other types of properties, such as retail properties. The value of these properties totaled MSEK 14,894 at the end of the quarter, and the properties had rental income of MSEK 1,183 and net operating income of MSEK 820 according to the earnings capacity at March 31, 2018.
* Hemfosa’s definition of community service properties is properties with, directly or indirectly, publicly financed tenants that account for at least 70 percent of the rental income.
For further information, please contact:
Bengt Kjell, Chairman of the Board, mobile +46 (0)70 594 53 98
About Hemfosa Fastigheter
Hemfosa is a Swedish property company focused on community service properties in the Nordic region, with its largest tenants being the Swedish state and municipalities. This provides stable cash flows and a healthy yield. In order to create value, Hemfosa also aims to actively participate in the transaction market. As per March 31, 2018, Hemfosa owned properties with a total property value of approximately SEK 44.9 billion, including the company’s share of the property value in joint ventures. Hemfosa’s common share has been listed since March 2014 and its preference share since December 2014, both on Nasdaq Stockholm. Read more at www.hemfosa.se