Wallenstam’s interim report Jan 1–Mar 31, 2022: Property holdings in attractive locations with stable demand
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 08.45 (CEST) at www.financialhearings.com. The presentation is available at www.wallenstam.se/filmsandpresentations before 08.45 (CEST).
January 1–March 31, 2022
- The net asset value per share increased by SEK 3.30 during the period and amounted to SEK 117.80 (114.50).
- Income from property management amounted to SEK 322 million (291).
- Rental income amounted to SEK 616 million (561).
- Investment in construction of properties amounted to SEK 684 million (807).
- On closing day, 1,609 apartments were under construction.
- Changes in value of investment properties amounted to SEK 187 million (311), of which the entire change in value came from value growth in new construction.
- Profit before tax amounted to SEK 1,285 million (901) and profit after tax amounted to SEK 1,207 million (723), equivalent to SEK 3.7 per share (2.2).
Comment from Hans Wallenstam, CEO:
“It is very gratifying that the net asset value per share since the start of the business plan has increased by SEK 38.60! It is in times like these that we can rely on our fantastic property holdings with commercial properties in the absolute center of Gothenburg and residential properties in attractive areas in strong growth regions – Gothenburg, Stockholm and Uppsala. Demand for our product is still strong.”
“Wallenstam is self-sufficient in electricity through the investment in producing energy with its own wind turbines and solar panels. Apart from being sustainable, this also means that the development of the electricity price is hedged. This in a period when energy prices have continued to be very volatile and we have seen a dramatic rise in prices.”
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. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CEST on April 26, 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 64 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 electrical energy through its own wind turbines in operation. The company’s B shares have been listed on Nasdaq Stockholm since 1984.