Platzer reports growth as market in Gothenburg remains stable

  •  Rental income increased to SEK 277 million (259)
  •  Income from property management improved by 20% to SEK 148 million (123)
  •  Profit for the period amounted to SEK 273 million (373)
  •  Property portfolio increased in value to SEK 19,046 million (18,388)
  •  Income from property management per share amounted to SEK 1.24 (1.03)
  •  Earnings per share totalled SEK 2.24 (3.11)
  •  Long-term net asset value (EPRA NAV) per share was SEK 73.58 (69.54)
  •  Proportion of green finance increased to 40%
  •  Gårda Vesta, the first building in Gothenburg to focus on health, is starting to rise above the skyline

AFTER THE END OF THE REPORTING PERIOD 

  •  Platzer sells 50% of the property Gårda Vesta and leases premises to Länsförsäkringar
    Göteborg och Bohuslän

Platzer’s CEO, P-G Persson, said

-      The operating surplus improved by 9% in the first quarter and income from property management increased by 20% to SEK 1.24 per share, which is the highest income from property management ever recorded by Platzer for an individual quarter. 

-          Our new build projects in Gårda, both Gårda Vesta and Kineum, are now fully underway and it is exciting to follow progress on a weekly basis. Gårda Vesta is at a slightly more advanced stage of construction and installation of lift shafts is currently taking place. In Kineum we are still working below ground. These major projects contributed to an increase in our EPRA NAV of almost 6% in the first quarter.

-          Our decision to focus on Gothenburg and on office space in districts with good development prospects, as well as on industrial and logistics facilities in Arendal and Torslanda, has been a successful strategy. I believe our prospects in 2019 for taking further steps into industrial and logistics facilities and consolidating our market leading position in office space are good.

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 April 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 825,000 sq. m. and with a value of around SEK 19 billion. Platzer is listed on Nasdaq Stockholm, Mid Cap. 

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