Wallenstam’s Year-end report 2020: Wallenstam has a successful business model
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 16.00 (CET) at the latest.
An audiocast in English with Susann Linde will take place at 16.30 (CET) at www.financialhearings.com. The presentation is available at www.wallenstam.se/filmsandpresentations before 16.30 (CET).
January 1–December 31, 2020
- The net asset value per share increased by SEK 7.00 during the period and amounted to SEK 98.30 (91.30).
- Income from property management amounted to SEK 1,131 million (1,108), after giving Covid-19 discounts of about SEK -21 million net.
- Rental income increased by 5 percent and amounted to SEK 2,131 million (2,026).
- Investment in construction of properties amounted to SEK 4,011 million (3,322).
- On closing day, 2,321 apartments were under construction.
- Changes in value of investment properties amounted to SEK 1,339 million (2,600), of which 853 million (792) came from value growth in new construction.
- Profit before tax amounted to SEK 2,393 million (3,464) and profit after tax amounted to SEK 1,908 million (2,737), equivalent to SEK 5.9 per share (8.5).
- The Board of Directors will propose a dividend of SEK 1.20 per share (0.50), spread between two payments of SEK 0.60 each per share.
October 1–December 31, 2020
- Income from property management amounted to SEK 271 million (257).
- Rental income increased by almost 8 percent and amounted to SEK 555 million (515).
- Changes in value of investment properties amounted to SEK 722 million (1,590), of which 236 million (287) came from value growth in new construction.
- Profit after tax amounted to SEK 934 million (1,699), equivalent to SEK 2.9 per share (5.3).
Comment from Hans Wallenstam, CEO:
“For Wallenstam, I can once again confirm that we have a business model that I feel very confident about, where we as a company create value even in such uncertain times. During the year, we continued to provide apartments and let commercial floor space, primarily offices, and both of these markets have been stable despite the turbulence in society. We also advanced a bit further on our journey towards the goal of achieving an increase in net asset value of SEK 40 per share through 2023. So far in our five-year business plan, we have generated just over SEK 19, and I am very satisfied with this!”
“We have also had the opportunity to further strengthen our project portfolio for future new production, and during 2020 we purchased land for future new production with construction starts planned both in the near future and with a longer planning horizon. The project portfolio now includes around 17,000 future possible apartments.”
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 15:30 CET on February 9, 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 58 billion and the customer base consists of around 10,000 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.