D. Carnegie & Co revises upwards current earning capacity – Acquisition increases the income from property management by MSEK 32 to MSEK 260
In connection with today's Capital Market Day, D. Carnegie & Co AB (publ) (listed on Nasdaq Stockholm) publishes a revised current earning capacity. Previously announced acquisitions made after the end of the second quarter report raises the current earning capacity - the present income from property management is estimated to be MSEK 260 from previously being MSEK 228. In connection with the Capital Market Day, a forecast was also announced that 500 apartments are estimated to be renovated this year.
"D. Carnegie & Co has a strong financial position which enables us to act quickly with respect to the number of renovations, which has a directly positive effect on our present income from property management ", says Ulf Nilsson, CEO of D. Carnegie & Co.
D. Carnegie & Co AB acquired three properties in the greater Stockholm area, two in Jordbro and one in Vårberg, which closed at the beginning of July this year. The acquired portfolio consists of 1,009 apartments. Consequently, D. Carnegie & Co's holdings amount to just over 16,000 apartments.
The company's revenues for the entire year amount to MSEK 1,240 after taking into consideration the acquisitions which closed on 1 July this year. Prior to the acquisition, revenues amounted to SEK 1,155.
For more information, please contact:
Ulf Nilsson, CEO, D. Carnegie & Co, tel. +46 (0)8 – 121 317 25
About D. Carnegie & Co
D. Carnegie & Co is a real estate company focusing on residential properties within the Stockholm region and other growth areas. The Company’s business concept is to own and manage its real estate portfolio and to gradually refurbish apartments in connection with the natural turnover of tenants. This can take place quickly and cost-efficiently due to the Company’s established refurbishment method, Bosystem which, among other things, does not require tenants to vacate the premises. The Company also creates significant value through the development of building rights in the existing portfolios. As of 30 June 2015, the market value of the company's properties amounted to SEK 11,548. As per 1 July 2015, the total rental value amounted to MSEK 1,240 annually. The economic occupancy rate is high – vacancies are virtually non-existent. D. Carnegie & Co is listed on Nasdaq Stockholm.
Tags: