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Wallenstam Interim Report Jan 1–Sep 30, 2019: The quarter’s surplus ratio increased to 79%

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Hans Wallenstam, CEO, and Susann Linde, CFO and Head of Investor Relations, comment on the report at www.wallenstam.se/filmsandpresentations. The film will be released by 08.30 (CET) at the latest. An audiocast with Susann Linde will be released at 09.30 (CET) at www.financialhearings.com. The presentation is available at www.wallenstam.se/filmsandpresentations.

JANUARY 1–SEPTEMBER 30, 2019

  • The net asset value per share increased by SEK 3.40 during the period and amounted to SEK 85.70 (79.20). 
  • Income from property management increased by 12 percent and amounted to SEK 851 million (758).
  • Rental income increased by just over 6 percent and amounted to SEK 1,511 million (1,422).
  • Construction of properties amounted to SEK 2,390 million (1,552).
  • On closing day, we had 2,848 apartments under construction.
  • Changes in value of investment properties amounted to SEK 1,009 million (1,068).
  • Profit before tax amounted to SEK 1,286 million (1,917) and profit after tax amounted to SEK 1,038 million (1,769), equivalent to SEK 3.2 per share (5.5).

JULY 1–SEPTEMBER 30, 2019

  • Income from property management increased by 3 percent and amounted to SEK 304 million (296).
  • Rental income increased by 6 percent and amounted to SEK 510 million (480).
  • Changes in value of investment properties amounted to SEK 460 million (183).
  • Profit after tax amounted to SEK 463 million (459), equivalent to SEK 1.4 per share (1.4).

Comment from Hans Wallenstam, CEO:
“The operations are continuing to deliver profits. We see higher income from property management, which increased by 12 percent compared to last year, and a surplus ratio of 79 percent during the quarter and a further increase in net asset value, which now amounts to SEK 85.70 per share. We are following the plan and are working continually to anticipate and handle any challenges that arise along the way.”

“We are continuing to work with what we do well – creating sought-after homes and workplaces and developing areas that are safe and attractive. Good quality, cost control and efficient processes in construction, letting and management are the keys to continued success, and something that we will obviously continue to focus on going forward.”

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

This is information that Wallenstam AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 CET on October 22, 2019.

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

www.wallenstam.se

Wallenstam is a property company that manages, builds and develops properties for sustainable living and enterprise in Stockholm, Gothenburg and Uppsala. The property holding is valued at around SEK 50 billion and the customer base consists of around 9,000 households and 1,000 enterprises. The total lettable area is around 1 million sq m. Wallenstam is self-sufficient in renewable energy through its own wind turbines in operation. The company’s B shares have been listed on Nasdaq Stockholm since 1984.

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