Wallenstam’s interim report Jan 1–Jun 30, 2022: Well-equipped with a strong 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 09.30 (CEST) at www.financialhearings.com. The presentation is available at www.wallenstam.se/filmsandpresentations before 09.30 (CEST).
January 1–June 30, 2022
- The equity/assets ratio amounted to 47 percent and the loan-to-value ratio was 43 percent.
- The net asset value per share amounted to SEK 60.10 (57.30). The goal for the business plan has now been reached, as the increase in net asset value now amounts to SEK 20.50 per share.
- Investment in construction of properties amounted to SEK 1,421 million (1,711).
- On closing day, 1,669 apartments were under construction.
- Income from property management amounted to SEK 650 million (609).
- Rental income amounted to SEK 1,236 million (1,136).
- Changes in value of investment properties amounted to SEK 374 million (1,019), of which the entire change in value came from value growth in new construction.
- Profit before tax amounted to SEK 2,527 million (1,824) and profit after tax amounted to SEK 2,150 million (1,822), equivalent to SEK 3.3 per share (2.8).
April 1–June 30, 2022
- Income from property management amounted to SEK 328 million (319).
- Rental income amounted to SEK 620 million (574).
- Changes in value of investment properties amounted to SEK 187 million (708), of which the entire change in value came from value growth in new construction.
- Profit after tax amounted to SEK 943 million (1,099), corresponding to SEK 1.4 per share (1.7).
Comment from Hans Wallenstam, CEO:
”Wallenstam stands strong amid the prevailing challenges of inflation, war and problems in supply chains. We are well-equipped with hugely committed employees and a strong balance sheet where our equity/assets ratio now amounts to 47 percent. We have prepared the foundations for this for several years.”
”In this turbulent environment, we have delivered a record result in our property management operations. Income from property management increased by 7 percent to SEK 650 million. We are continuing to generate surplus value in our new construction operations, which amounted to SEK 374 million during the first half of 2022. The result means that the net asset value per share now amounts to SEK 60.10.”
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 14, 2022.
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 65 billion and the customer base consists of around 12,000 households and 1,000 enterprises. The total lettable area is around 1 million sq m. Wallenstam is self-sufficient in renewable electrical energy through its own wind turbines in operation. The company’s B shares have been listed on Nasdaq Stockholm since 1984.