Successful lettings in strategic locations
• Rental income increased to SEK 553 million (513)
• Income from property management improved by 18% to SEK 297 million (251)
• Profit for the period amounted to SEK 560 million (649)
• Property portfolio increased in value to SEK 19,542 million (18,388)
• Income from property management per share amounted to SEK 2.48 (2.10)
• Earnings per share totalled SEK 4.61 (5.40)
• Long-term net asset value (EPRA NAV) per share was SEK 75.73 (69.54)
• Platzer developing a school in Södra Änggården for the International English School
• Platzer and Bygg-Göta developing offices at Skeppsbron for Forsman & Bodenfors
• Almedals Fabriker selected as pilot project for faster construction process
• In accordance with the decision by the Annual General Meeting in April 2018, Platzer is selling 50%
of the property Gårda Vesta and leasing premises to Länsförsäkringar Göteborg och Bohuslän
Platzer’s CEO, P-G Persson, said
- The operating surplus increased by 9% in the first half and income from property management rose to SEK 297 million, which corresponded to an increase of 18% on the same period in the previous year. This means that in the second quarter of 2019, we achieved new heights for a single quarter both in terms of operating surplus and income from property management.
- Platzer’s property assets grew by nearly SEK 1.2 billion in the first six months of the year as a result of investments and increases in value. Demand for our projects remains strong in the stable property and rental market in Gothenburg.
- In the second quarter, we concluded large leases for Gårda Vesta, Gullbergsvass, Skeppsbron and Södra Änggården. The leases will generate increases in value both in the short and long term and will boost future cash flow. Our rental income from leases that have been signed but are not included in earning capacity is at a record high and stood at nearly SEK 170 million at the end of June 2019.
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 9 July 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.
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