New organisational structure for future growth

• Rental income increased to SEK 842 million (768)
• Income from property management improved by 18% to SEK 458 million (387)
• Profit for the period amounted to SEK 910 million (963)
• Property portfolio increased to SEK 20,116 million (18,388)
• Income from property management per share amounted to SEK 3.77 (3.23)
• Earnings per share totalled SEK 7.50 (8.02)
• Long-term net asset value (EPRA NAV) per share was SEK 80.02 (69.54)
• Platzer sells two commercial properties at Backaplan to Balder (completion took place on 1 October 2019).
• New organisation and group management for Platzer (with effect from 15 October 2019)

Platzer’s CEO, P-G Persson, said:

-  We continue to maintain a high level of investment in our existing properties. Investments increased by nearly 25% compared with the same period in the previous year. Development projects are a profitable business for us. The changes in value in the first three quarters of the year boosted our property values by 6% and our net asset value, or EPRA NAV, by 15%.
 

-  In the quarter, we presented a new organisational structure that will create opportunities for us to step up a gear by delegating responsibility for growth to a larger number of people. What we want to achieve through the reorganisation is to increase our focus on industrial and logistics property, to be more prepared for a rapidly changing business environment where tenants’ expectations of us are constantly changing, and also to focus on increasing the appeal of our districts.

-  One of our long-term ecological sustainability goals is for energy consumption in our properties to fall by more than 2% per year. We have exceeded this goal for many years and in the nine months to end-September this year, we cut energy consumption by as much as 7.7%.

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 EU Market Abuse Regulation and the Swedish Securities Market Act. The information was released for publication on 25 October 2019 at 08:00 CET through the agency of the contact persons shown above. 

Platzer Fastigheter Holding AB (publ) owns and develops commercial properties in the Gothenburg area comprising a total lettable area of around 830,000 sq. m. and with a value of around SEK 20 billion. Platzer is listed on Nasdaq Stockholm, Mid Cap.

Tags: