Interim Report January-March 2019: Significant societal impact of our property management model

In its interim report for the first quarter of 2019, Victoria Park reports a continued favourable value growth and high rate of investment.

  •  Significant social values generated by positive development in Rosengård.
  •  Net asset value grows by 20 percent to SEK 37.27 per share.
  •  The aquisition of 2,340 flats in Haninge and Mölndal closed on 1 April.

JANUARY-MARCH 2019 

  •  Revenues increased by 11 percent, to SEK 314 M (284).
  •  Profit from property management increased by 11 percent to SEK 99 M (89).
  •  Profit after tax amounted to SEK 490 M (274), equal to SEK 1.99 per share (1.11).
  •  Net asset value growth increased by 20 percent till SEK 37.27 per share (31.08).

“With a continued significant development potential in our portfolio, and a continued strong demand for renovated flats that attract residents with a stable economic situation who provide social capital to our areas. Together with our socially sustainable management model, it provides good value development. We look forward to continuing on our established route and thereby consistently create value for our owners, residents and society in general”, says Victoria Park’s CEO Per Ekelund.

PRESENTATION  

The presentation in Swedish will be published during tomorrow on the corporate webpage www.victoriapark.se/english

FOR FURTHER INFORMATION, PLEASE CONTACT 

CEO Per Ekelund, Tel +46 (0)70 867 66 57, per.ekelund@victoriapark.se 
CFO Tommy Åstrand, +46 (0)70 545 59 97, tommy.astrand@victoriapark.se 

APPENDIX
Victoria Park AB Interim Report January-March 2019

This constitutes information that Victoria Park AB is legally obliged to publish according to the EU Market Abuse Regulation. The information was issued by Per Ekelund for publication on 23 April 2019 at 15.30 CET.

Victoria Park AB (publ) is a listed property company, which through long-term management and social responsibility for more attractive residential areas, creates value in an expanding property portfolio in growth cities in Sweden. At 31 March 2019 Victoria Park’s property portfolio amounts to 1,128,000 square metres, comprising 14,287 flats, with a market value of SEK 18.8 Bn. The shares in Victoria Park are listed for trading on the Nasdaq Stockholm Mid Cap exchange. 

Victoria Park AB (publ) Box 2, SE-201 20 Malmö, Sweden, Tel +46 (0)40 16 74 40, Corporate Reg. No. 556695-0738, Head Office Malmö, www.victoriapark.se/english 

About Us

Victoria Park AB is one of the largest and most prominent private housing companies in Sweden focused on developing attractive residential areas in the country’s growth cities. Through long-term management and social responsibility, we create value for our customers, employees, shareholders and society. We currently own and manage more than 16,000 flats in 13 cities – and we continue to grow. Visit our website to read more about how the way we work, which is based on sustainable relationships between companies, the individual and society, contributes to positive and sustainable societal development.

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“With a continued significant development potential in our portfolio, and a continued strong demand for renovated flats that attract residents with a stable economic situation who provide social capital to our areas. Together with our socially sustainable management model, it provides good value development. We look forward to continuing on our established route and thereby consistently create value for our owners, residents and society in general”.
Per Ekelund, CEO at Victoria Park