Wallenstam’s interim report Jan 1–Sep 30, 2022: Strong foundation to stand on
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–September 30, 2022
- The equity/assets ratio amounted to 48 percent and the loan-to-value ratio was 42 percent.
- The net asset value per share amounted to SEK 61.50 (57.30). The goal for the business plan was reached in the second quarter.
- Investment in construction of properties amounted to SEK 1,991 million (2,471).
- On closing day, 1,836 apartments were under construction.
- Income from property management amounted to SEK 993 million (968).
- Rental income amounted to SEK 1,863 million (1,721).
- Changes in value of investment properties amounted to SEK 374 million (1,496).
- Reversal of a previous impairment loss on wind turbines of SEK 300 million (-).
- Changes in value of financial interest rate derivatives amounted to SEK 1,957 million (368).
- Profit before tax amounted to SEK 3,497 million (2,770) and profit after tax amounted to SEK 2,904 million (2,650), equivalent to SEK 4.4 per share (4.1).
July 1–September 30, 2022
- Income from property management amounted to SEK 343 million (358).
- Rental income amounted to SEK 626 million (585).
- Changes in value of investment properties amounted to SEK 0 million (477).
- Reversal of a previous impairment loss on wind turbines of SEK 300 million (-).
- Profit after tax amounted to SEK 754 million (828), corresponding to SEK 1.1 per share (1.3).
Comment from Hans Wallenstam, CEO:
”As the new CEO of Wallenstam just over 30 years ago, I landed straight into perhaps the most serious financial and property crisis in Sweden’s modern history. Wallenstam managed to exit the crisis strongly. My experiences from those years have become strategies for the company’s governance and are also extremely relevant today. It feels nice to have such a good foundation to stand on, as we have now and for which we have laid the basis for many years. We have the best conditions – desirable properties in attractive locations, a strong balance sheet with a 48 percent equity/assets ratio and a good financing situation.”
“We have been self-sufficient in renewable electrical energy through our own production since 2013. When we initiated the investment in the early 2000s, our aim was to contribute to the green transition and increasingly change over to the green economy.”
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 25, 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.