Major projects to create value for Platzer now and in the future

• Rental income increased to SEK 1,044 million (995)
• Income from property management improved by 7% to SEK 522 million (486)
• Profit for the period amounted to SEK 1,511 million (1,393)
• Property portfolio increased in value to SEK 18,388 million (15,559)
• Income from property management per share amounted to SEK 4.36 (4.06)
• Earnings per share totalled SEK 12.55 (11.54)
• Long-term net asset value (EPRA NAV) per share was SEK 69.54 (58.39)
• The Board of Directors proposes a dividend of SEK 1.70 per share (1.50)
• Average interest rate reduced to 1.71% through restructuring of derivatives portfolio
• Proportion of green finance increased to 28%
• Project Gamlestads torg completed
• Acquisition of two properties in Gårda comprising a total of 22,400 sq. m. of office space
• Detailed development plan for Kineum Gårda becomes legally binding
• Construction start at Gårda Vesta

Platzer’s CEO, P-G Persson, said:

-          Income from property management increased by 19%. Investment gains from property development of Gullbergsvass 5:10 and project development at Gamlestads torg and Gårda Vesta, combined with higher market rents and slightly lower yield requirements, resulted in substantially higher property values and therefore a marked increase in net asset value as measured according to EPRA NAV. Over the last two years, our net asset value has improved by a total of more than 50%.

-          Property assets increased by SEK 2.8 billion. We sold property assets with an underlying property value of SEK 0.2 billion in the financial year, and acquired properties worth approximately SEK 1.0 billion. Value increases accounted for SEK 1.3 billion, while investments in property contributed SEK 0.7 billion. We achieved our ambition to maintain a growth rate of around SEK 2 billion per year without shareholders’ contributions by a significant margin. 

For more information, please contact: 

P-G Persson, CEO, Platzer, Tel: +46 (0)734 11 12 22
Fredrik Sjudin, CFO, Platzer, Tel: +46 (0)721 27 77 78

 

The information in this press release is information that Platzer Fastigheter Holding AB (publ) is legally obliged to disclose in accordance with the Swedish Securities Market Act. The information was submitted for publication at 08:00 CET on 8 February 2019.

Platzer Fastigheter Holding AB (publ) owns and develops commercial properties in the Gothenburg area comprising a total lettable area of around 825,000 sq. m. and with a value of around SEK 18 billion. Platzer is listed on Nasdaq Stockholm, Mid Cap. 

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