Wallenstam’s Interim report Jan 1–Sep 30, 2021: Business model that generates results
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–September 30, 2021
- The net asset value per share increased by SEK 8.90 during the period and amounted to SEK 107.20 (98.30).
- Income from property management amounted to SEK 968 million (860).
- Rental income amounted to SEK 1,721 million (1,576).
- Investment in construction of properties amounted to SEK 2,471 million (2,995).
- On closing day, 2,212 apartments were under construction.
- Changes in value of investment properties amounted to SEK 1,496 million (616), of which SEK 599 million (616) came from value growth in new construction.
- Profit before tax amounted to SEK 2,770 million (1,240) and profit after tax amounted to SEK 2,650 million (974), equivalent to SEK 8.1 per share (3.0).
July 1–September 30, 2021
- Income from property management amounted to SEK 358 million (310).
- Rental income amounted to SEK 585 million (536).
- Changes in value of investment properties amounted to SEK 477 million (187), of which SEK 210 million (187) came from value growth in new construction.
- Profit after tax amounted to SEK 828 million (344), corresponding to SEK 2.5 per share (1.1).
Comment from Hans Wallenstam, CEO:
”As I have previously stated, our business model works very well even in tougher times. This is apparent not least in our results, where for example, net operating income increased by 10 percent in the interim period, and income from property management by 13 percent.”
”We are continuing to produce new homes – we recently started the construction of our 10,000th apartment since the turn of the millennium. Through all the work we are doing to develop our properties and build new ones, we are creating our own growth, which feels really fantastic!”
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 October 22, 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 61 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.