Wallenstam’s Year-end report 2021: The goal of SEK 40 per share in net asset value growth is within reach
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 13.30 (CET) at the latest. An audiocast in English with Susann Linde will take place at 14.00 (CET) at www.financialhearings.com. The presentation is available at www.wallenstam.se/filmsandpresentations before 14.00 (CET).
January 1–December 31, 2021
- The net asset value per share increased by SEK 16.20 during the period and amounted to SEK 114.50 (98.30).
- Income from property management amounted to SEK 1,280 million (1,131).
- Rental income amounted to SEK 2,324 million (2,131).
- Investment in construction of properties amounted to SEK 3,325 million (4,011).
- On closing day, 1,948 apartments were under construction.
- Changes in value of investment properties amounted to SEK 3,674 million (1,339), of which SEK 1,502 million (853) came from value growth in new construction.
- Profit before tax amounted to SEK 5,371 million (2,393) and profit after tax amounted to SEK 4,717 million (1,908), equivalent to SEK 14.4 per share (5.9).
- The Board of Directors will propose a dividend of SEK 1.20 per share (1.20), spread between two payments of SEK 0.60 each per share.
- The Board of Directors has taken the decision to bring forward the work on producing a new business plan by one year and expects that it can be presented during the fourth quarter of 2022.
October 1–December 31, 2021
- Income from property management amounted to SEK 312 million (271).
- Rental income amounted to SEK 603 million (555).
- Changes in value of investment properties amounted to SEK 2,178 million (722), of which SEK 903 million (236) came from value growth in new construction.
- Profit after tax amounted to SEK 2,067 million (934), corresponding to SEK 6.3 per share (2.9).
Comment from Hans Wallenstam, CEO:
”Through transactions and new production, we have ‘polished’ our property holdings further during 2021. Our apartments are located in popular residential areas in Gothenburg, Stockholm and Uppsala and our commercial holdings are concentrated in Gothenburg inner city. We like to have the properties concentrated in clusters, which is good and efficient from a management perspective. Through the transactions and the sale of our repurchased shares, we have increased the equity/assets ratio from 42 percent to 46 percent.”
“We have delivered a very good result for 2021 which I am both proud of and grateful for. Income from property management increased by 13 percent. A large part came from our cost-efficient new construction, which generates both real value and contributes to a higher surplus ratio. Three years into the business plan, we have now increased our net asset value by SEK 35.30 per share. Happily, we feel that the goal of an increase in net asset value of SEK 40 per share is within reach. Naturally, this feels extremely good!”
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 13:00 CET on February 8, 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 energy through its own wind turbines in operation. The company’s B shares have been listed on Nasdaq Stockholm since 1984.