Correction: Jefast Holding AB (publ) publishes its Year-end report For the Period January- December 2019

Correction to the press release from 14:30 CET on 28 February 2020.

The Year End Report for 2019 earlier released incorrect division of revenue segments in Note 1. Below are the correct divisions, thus the Swedish segment accounts for 102.2mSEK and the USA segment accounts for 200.7 mSEK. 

Note 1 Revenue

Jan - Dec 2019   Investment properties Owner-occupied properties  
All amounts in TSEK   Sweden USA Total
Revenue from Customer agreements   9,346 200,667 210,013
Rental inome   92,858 0 92,858
Total   102,204 200,667 302,871
         


Furthermore, the subtotal in the Income Statement was incorrect “Profit for the period" is higher than the first report. 

An updated Year-end report with correct numbers are attached to this press release as well as on the company website: www.jefast.se 

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Please see a summary of the highlights from the quarterly report below as well as the full report attached to this pressrelease, which is also available on our website: www.jefast.se


Period October-December 2019 
Revenue amounted to 72.0 MSEK (61.0)
Operating profit amounted to 58.9 MSEK (0)

Period Jan – December 2019
Revenue amounted to 302.9 MSEK (301.3)
Operating profit amounted to 44.1 MSEK (70.3)
Net Loan to Value amounted to 59.1 % (65.2)
The interest coverage ratio amounted to 1.4 (1.3)
Property value of 2,605 MSEK (3,110)

Events in the reporting period October-December 2019
The company’s previous CFO Maria Jonasson left the company and has been replaced with an external CFO namned Fredrik Stenberg 

Events after the reporting period
The loan for the hotel business in Florida was refinanced during the first quarter
Three condominium units were acquired during the first quarter at the hotel business 


For further information, please contact:

Cassandra Jertshagen, CEO            Fredrik Stenberg, CFO
Tel. +46 42 36 12 01                         Tel. +46 42 36 12
E-mail: cassandra@jefast.se            E-mail: fredrik@jefast.se 

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This information is information that Jefast Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014/EU). The information was submitted for publication, through the agency of the contact person set out above CEO Cassandra Jertshagen, at 14:30 CET on 28 February 2020.
    
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Jefast was founded in 1977 and has since then had its headquarter in Höganäs, Skåne. Jefast owns and develops properties in Höganäs and Helsingborg and its close surroundings, as well as a hotel in Fort Lauderdale, Florida USA. The company owns a total of 74,825 square meters including both commercial and residential properties in Sweden as well as a hotel in Florida. 
 

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