Interim report January-September 2017: Efficient development model with significant benefits for society
In its interim report for the third quarter of 2017, Victoria Park reports a high level of activity, which is generating significant value growth.
- High renovation rate and continued strong market climate.
- Attractive residential areas through densification projects.
- Continued significant value growth.
- Possession of 570 flats in Örebro and Gothenburg.
- Revenues increased by 33 percent, to SEK 786 M (589).
- Profit from property management increased by 50 percent to SEK 256 M (171), equal to SEK 1.06 per share (0.75).
- Profit after tax amounted to SEK 1,330 M (677), equal to SEK 5.45 per share (2.75).
- Cash flow from operating activities before changes in working capital increased by 53 percent to SEK 273 M (178).
- The loan-to-value ratio was 53.9 percent (58.5).
- Net asset value growth increased by 53 percent to SEK 26.64 per share (17.40).
– Overall, the trend during the third quarter is evidence that our business model of value-creating investments is successful and we look forward to continuing on our established path and to further expanding to achieve our long-term goal of a property portfolio of SEK 20 billion, says Victoria Park’s CEO Peter Strand.
PRESENTATION TODAY AT 9:30 A.M.
Today at 9:30 a.m., Victoria Park will give a presentation in Swedish, which can be followed by audiocast on the company’s website. The participants from Victoria Park will be CEO Peter Strand and CFO Tommy Åstrand.
To put questions during the presentation, call +46 (0)8 505 564 74.
FOR FURTHER INFORMATION, PLEASE CONTACT
Victoria Park AB Interim Report January-September 2017
This constitutes information that Victoria Park AB is legally obliged to publish according to the EU Market Abuse Regulation. The information was issued by Peter Strand for publication on October 25, 2017, at 7:30 a.m.
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 districts in Sweden.
Victoria Park’s property portfolio amounts to 1,062,000 square metres, comprising 13,425 flats, with a market value of SEK 14.6 billion. The shares in Victoria Park are listed for trading on the Nasdaq Stockholm Mid Cap exchange.
Victoria Park AB (publ) Box 2, 201 20 Malmö, Tel +46 (0)40 16 74 40, Corporate Reg No 556695-0738, Head Office Malmö, www.victoriapark.se/english