Wallenstam’s Interim report Jan 1–Jun 30, 2021: Further strengthened balance sheet
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 (CEST) at the latest. An audiocast in English with Susann Linde will take place at 09.00 (CEST) at www.financialhearings.com. The presentation is available at www.wallenstam.se/filmsandpresentations before 09.00 (CEST).
January 1–June 30, 2021
- The net asset value per share increased by SEK 6.20 during the period and amounted to SEK 104.50 (98.30).
- Income from property management amounted to SEK 609 million (549).
- Rental income increased by 9 percent and amounted to SEK 1,136 million (1,041).
- Investment in construction of properties amounted to SEK 1,711 million (2,110).
- On closing day, 2,186 apartments were under construction.
- Changes in value of investment properties amounted to SEK 1,019 million (429), of which 389 million (429) came from value growth in new construction.
- Profit before tax amounted to SEK 1,824 million (795) and profit after tax amounted to SEK 1,822 million (631), equivalent to SEK 5.6 per share (2.0).
April 1–June 30, 2021
- Income from property management amounted to SEK 319 million (275).
- Rental income increased by 11 percent and amounted to SEK 574 million (518).
- Changes in value of investment properties amounted to SEK 708 million (175), of which 244 million (175) came from value growth in new construction.
- Profit after tax amounted to SEK 1,099 million (322), equivalent to SEK 3.4 per share (1.0).
Comment from Hans Wallenstam, CEO:
”During the quarter, we have worked to further strengthen our balance sheet. Both the loan-to-value ratio and the equity/assets ratio are now 45 percent, which means even greater opportunities and freedom of action regarding our ambitious investment program with land acquisitions and new construction.”
”I am very satisfied with the result in the first half of 2021, where all the numbers are pointing in the right direction! Our income from property management increased by 11 percent and net operating income by 10 percent. Apart from this, we have created further value of approximately SEK 400 million in our new construction.”
For the complete report, please refer to the attached PDF.
For further information, please contact:
Susann Linde, CFO and Head of Investor Relations Wallenstam AB, tel. +46 31 20 00 00 or +46 705 17 11 34
This 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 person set out above, at 08:00 CEST on July 8, 2021.
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 60 billion and the customer base consists of around 11,000 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.