Profitable investments created growth and value

• Rental income increased to SEK 1,124 million (1,044)
• Income from property management improved by 15% to SEK 611 million (531)
• Profit for the period amounted to SEK 1,476 million (1,511)
• Property portfolio increased in value to SEK 20,479 million (18,388)
• Income from property management per share amounted to SEK 5.05 (4.36)
• Earnings per share totalled SEK 12.19 (12.55)
• Long-term net asset value (EPRA NAV) per share was SEK 84.00 (69.54)
• Three large projects under construction and at least 80% pre-let
• Proportion of green financing increased to 56%
• 50% of the property Gårda Vesta sold to Länsförsäkringar Göteborg och Bohuslän
• Platzer and Bygg-Göta developing offices at Skeppsbron
• Positive “water ruling” in Land and Environment Court an important step in the work on a detailed development plan for Gamlestadens Fabriker
• New organisation and Group management at Platzer
• The Board of Directors proposes a dividend of SEK 2.00 per share (1.70), to be paid in two instalments of SEK 1.00 each

Platzer’s CEO, P-G Persson, said:

• Platzer continued to create growth and value in 2019. Net asset value, measured as EPRA NAV, increased by nearly 21% to SEK 84 per share.
   
• Our investments increased by 30% to over SEK 0.9 billion, the highest amount for any single year. Construction of our three major projects is underway and we achieved a pre-let occupancy rate of at least 80% across all projects.

• As the company’s CEO, I am pleased and proud that there has been no drop in pace in our property management activities as our development projects start to account for an ever larger proportion of our business, both externally and internally. It therefore feels extra good that we achieved a surplus ratio of 74% and saw income from property management increase by more than 15% in the financial year. We recorded positive net lettings in all quarters, with net lettings for the year amounting to SEK 24 million.

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 7 February 2020.

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., worth around SEK 20 billion. Platzer is listed on Nasdaq Stockholm, Mid Cap.