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Wallenstam AB (publ) year-end report 1 January-31 December 2015: A net asset value growth of 20 %

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CEO Hans Wallenstam, comments on the year-end report at www.wallenstam.se/presentationer.
A conference call with Susann Linde, CFO in charge of IR, will take place at 3.00 p.m (CET) at www.financialhearings.com, the presentation is available at www.wallenstam.se/presentationer.

1 JANUARY–31 DECEMBER 2015

  • Net asset value, excluding dividends and repurchases, increased by 20 percent during the year.
  • Profit after tax amounted to SEK 2,754 million (585), equivalent to SEK 8.3 (1.7) per share.
  • Income from property management amounted to SEK 672 million (592), an increase of 14 percent.
  • Properties were sold with a value of SEK 2,129 million (2,349), resulting in realized changes in value of SEK 204 million (283).
  • Unrealized changes in the value of investment properties amounted to SEK 2,507 million (829), of which new construction represented SEK 639 million (146).
  • Changes in the value of derivative instruments amounted to SEK 165 million (-854).
  • Rental income for the year amounted to SEK 1,549 million (1,566).
  • Acquisitions of properties totalled SEK 1,270 million (42) and investments in properties amounted to SEK 1,902 million (1,899).
  • During the period, construction started on approximately 850 apartments. We had about 1,700 apartments under construction on the closing day.
  • The Board proposes a dividend of SEK 1.50 per share (1.13), which is equivalent to an increase of 33 percent. 

1 OCTOBER–31 DECEMBER 2015 

  • Income from property management amounted to SEK 160 million (129), an increase of 24 percent.
  • Unrealized changes in the value of investment properties amounted to SEK 627 million (331), of which one third, SEK 204 million (61), came from new construction.
  • Changes in the value of derivative instruments amounted to SEK 136 million (-259).
  • Profit after tax amounted to SEK 586 million (398), equivalent to SEK 1.8 per share (1.2).
  • Rental income for the fourth quarter amounted to SEK 390 million (380).

Comment from Hans Wallenstam, CEO

“In 2015, the net asset value growth was 20 percent! This was generated through our own work in new construction projects, strong letting activities and by having our costs in focus. I can state that an increasingly large proportion of the sharp increase in value is coming from our new construction projects. During the year, we replenished our land reservations with several major exciting urban development projects. Our project portfolio now consists of many interesting development areas and projects in our regions and includes thousands of future apartments.”

“Completion of the newly produced rental properties is also having a positive impact on income from property management, which increased by 14 percent during 2015. During the fourth quarter, the increase was 24 percent. In a nutshell, our business is performing very well! The shareholders will also get participate in the company’s excellent performance through the Board’s proposed dividend of SEK 1.50 per share, an increase of 33 percent.”

For the complete report, please refer to the attached PDF.

Wallenstam AB (publ) is required to make this information public under the provisions of the Swedish Financial Markets Act and the Swedish Financial Instruments Trading Act. The information was made publicly available on 24 February 2016 at 2.00 p.m CET.

For further information:
Elisabeth Vansvik, Director of Communications, Wallenstam AB (publ) tel. 46 31 20 00 00 or 46 705 17 11 38
Susann Linde, CFO and IR Director Wallenstam AB (publ) tel. 46 31 20 00 00 or 46 705 17 11 34
www.wallenstam.se

Wallenstam is a growing property company that manages, builds and develops properties for sustainable living and enterprise in Gothenburg and Stockholm. The property holding is valued at around SEK 32 billion and the customer base consists of just over 7,300 households and 1,000 enterprises. The total lettable area is around 1 million sq m. Wallenstam is self-sufficient in renewable energy through the company Svensk NaturEnergi. The company’s B shares have been listed on Nasdaq Stockholm since 1984.

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