Record net letting through project development

• Rental income increased to SEK 311 million (293)
• Income from property management increased to SEK 352 million (167)
• Profit for the period increased to SEK 1,382 million (365)
• Property value amounted to SEK 25,529 million (26,031)
• Earnings per share totalled SEK 11.53 (3.03)
• Industrial/logistics lettings of 62,000 sq.m.
• Key rental in the Aria office project
• Sale of 50% of Gårda Vesta to Länsförsäkringar Göteborg & Bohuslän

AFTER THE END OF THE REPORTING PERIOD

• Detailed development plan for Södra Änggården becomes legally binding - development of the area can now begin

Platzer’s CEO, P-G Persson, said:

-  The operating surplus increased by SEK 12 million (5.4%), with acquisitions, index increases and lettings in investment properties contributing to the increase, while sales, vacancies and the structural change at Gårda Vesta had the opposite effect. Profit from property management increased by 111%, mainly due to positive changes in the value of associated companies as a result of lettings made in the projects. The “pure” income from property management increased by 10% compared with the previous year, which is a strong improvement and has a direct impact on our cash flow.

-  In 2021, we carried out ground preparation work with the terracing of the building rights in logistics that we consider to be the most relevant to rent out. In total, this involves 180,000 sq.m., of which 135,000 sq.m. relates to Sörred Logistics Park. During the first quarter, we rented out more than 60,000 sq.m. at a rental volume of SEK 48 million, of which SEK 36 million in Sörred Logistics Park. In addition to the logistics leases, we have made important leases in our office projects in our investment portfolio. Overall, this represents a record of SEK 54 million in net lettings in the first quarter.

-  On 6 April, the Land and Environment Court of Appeal handed down its judgment rejecting the appeals against the Södra Änggården zoning plan. Finally, we and our partners can begin work on developing the area. As the ruling came in the second quarter, we will report on the full financial impact of the legally valid zoning plan in our next report.

For more information, please contact:
P-G Persson, CEO, Platzer, phone: +46 (0)734 11 12 22
Fredrik Sjudin, CFO, Platzer, phone: +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 20 April 2022 at 08:00 CET through the agency of the contact persons shown above.

Platzer Fastigheter Holding AB (publ) owns and develops commercial property in the Gothenburg area worth SEK 26 billion. The Platzer share is listed on Nasdaq Stockholm, Large Cap.