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  • Wallenstam AB (publ) Year-end report January 1-December 31, 2016:Net asset value increased by 23%
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Wallenstam AB (publ) Year-end report January 1-December 31, 2016:Net asset value increased by 23%

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CEO Hans Wallenstam and CFO and Head of Investor Relations Susann Linde comments on the year-end report at www.wallenstam.se/filmsandpresentations. The film will be released by 2.30 p.m. (CET) at the latest.
A conference call with Susann Linde, CFO and Head of Investor Relations, will take place at 3.30 p.m. (CET) at www.financialhearings.com, the presentation is available at www.wallenstam.se/filmsandpresentations. 

JANUARY 1–DECEMBER 31, 2016

  • –Net asset value, excluding dividends and repurchases, increased by about 23 percent during the year.
  • –Profit before tax amounted to SEK 4,198 million (3,418) and profit after tax amounted to SEK 3,348 million (2,754), equivalent to SEK 10.1 (8.3) per share.
  • –Income from property management increased by 9 percent and amounted to SEK 733 million (672).
  • –Unrealized changes in value of investment properties amounted to SEK 3,470 million (2,507), of which our cost-efficient new construction of rental apartments represented SEK 1,195 million (639).
  • –Unrealized changes in value of derivative instruments amounted to SEK -130 million (165).
  • –Rental income increased by 4 percent and amounted to SEK 1,607 million (1,549).
  • –Properties were sold with a value of SEK 1,179 million (2,129), resulting in realized changes in value of SEK 187 million (204), which was 19 percent above the latest valuation.
  • –Acquisitions of properties totaled SEK 340 million (1,270) and investments in properties amounted to SEK 2,351 million (1,902).
  • –During the period, construction started on about 850 apartments. We had about 2,000 apartments under construction on closing day.
  • –The Board of Directors proposes a dividend of SEK 1.70 per share (1.50), which is equivalent to an increase of 13 percent.


OCTOBER 1 –DECEMBER 31, 2016

  • –Income from property management increased by 6 percent and amounted to SEK 169 million (160).
  • –Unrealized changes in value of investment properties amounted to SEK 1,618 million (627), of which new construction of rental apartments represented SEK 493 million (204).
  • –Unrealized changes in value of derivative instruments amounted to SEK 248 million (136).
  • –Profit after tax amounted to SEK 1,701 million (586), equivalent to SEK 5.2 (1.8) per share.
  • –Rental income increased and amounted to SEK 410 million (390).

Comment from Hans Wallenstam, CEO

“Profit for the year of SEK 4.2 billion before tax clearly shows that the business is performing very well. I would particularly like to highlight the fact that income from property management increased by 9 percent to SEK 733 million and unrealized changes in value from our cost-efficient new construction increased to SEK 1,195 million. All in all, this represents value of SEK 1.9 billion this year, created by the organization itself.”

“Net asset value was about 23 percent in 2016! Our goal in the business plan is to have average growth of at least 10 percent per year.”

“All in all, 2016 was a very good year for the company – but 2017 has the potential to be even better!”

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

This information is information that Wallenstam is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out below, at 14:00 CET on February 22, 2017.



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

Wallenstam is a developing 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 35 billion and the customer base consists of around 7,600 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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