Interim Report Q1 2018: Strong value growth and high rate of investment
In its interim report for the first quarter of 2018, Victoria Park reports a continued strong value growth and high rate of investment.
- Public cash offer from Starwood Capital Group.
- Acquisition of 327 flats in Malmö and Trelleborg.
- Lifestyle property segment divested.
- Net asset value growth increased by 40 percent to SEK 31.08 per share.
- Revenues increased by 10 percent, to SEK 284 M (257).
- Profit from property management increased by 27 percent to SEK 89 M (70), equal to SEK 0.36 per share (0.29).
- Profit after tax amounted to SEK 274 M (415), equal to SEK 1.11 per share (1.70).
- Cash flow from operating activities before changes in working capital increased by 35 percent to SEK 98 M (72).
- The loan-to-value ratio was 51.4 percent (55.1).
“Overall, the trend during the first quarter provides further evidence that our business model of value-creating investments is unquestionably successful. It is also gratifying that our company and organisation, and the work we perform, attracts attention from abroad. We will continue on the established path of our value-creating property management with a social dimension, and on further expansion to achieve our long-term goal of a property portfolio of SEK 20 Bn by 2020,” says Victoria Park’s CEO Peter Strand.
PRESENTATION TODAY AT 14.30 CET
Today at 14.30 CET, Victoria Park will give a presentation in Swedish, which can be followed by webcast 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.
Victoria Park AB Interim Report January-March 2018
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 April 24, 2018, at 11.30 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 districts in Sweden.
Victoria Park’s property portfolio amounts to 1,083,000 square metres, comprising 13,725 flats, with a market value of SEK 16.2 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