Wallenstam’s Year-end Report 2022: New business plan and new opportunities
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, 2022
- The equity/assets ratio amounted to 47 percent and the loan-to-value ratio was 45 percent.
- Investment in construction of properties amounted to SEK 2,517 million (3,325) and acquisitions amounted to SEK 2,046 (358).
- Divestment of properties amounted to SEK 3,285 million (1,340).
- On closing day, 1,744 apartments were under construction.
- Income from property management amounted to SEK 1,252 million (1,280).
- Rental income amounted to SEK 2,490 million (2,324).
- Changes in value of investment properties amounted to SEK -2,627 million (3,674).
- Net asset value per share amounted to SEK 57.40 (57.30).
- A previous impairment loss on wind turbines was reversed of SEK 300 million (-).
- Changes in value of financial instruments amounted to SEK 1,646 million (484).
- Profit before tax amounted to SEK 711 million (5,371) and profit after tax amounted to SEK 1,103 million (4,717), equivalent to SEK 1.7 per share (7.2).
- The Board of Directors will propose a maintained dividend of SEK 0.60 per share (0.60), spread between two payments of SEK 0.30 each per share.
October 1–December 31, 2022
- Income from property management amounted to SEK 259 million (312).
- Rental income amounted to SEK 627 million (603).
- Changes in value of investment properties amounted to SEK -3,001 million (2,178).
- Profit after tax amounted to SEK -1,801 million (2,067), corresponding to SEK -2.7 per share (3.1).
Comment from Hans Wallenstam, CEO:
“We have a secure base in our balance sheet where we have an equity/assets ratio of 47 percent and a loan-to-value ratio of 45 percent. Our operations are working well with increasing net operating income and income from property management which is on a par with the previous year despite increased financing costs and divestments. An uncertain and cautious property market and higher interest expenses have resulted in increased yield requirements for 2022 on average of 0.4 percentage points to 3.4 percent on our residential properties and of 0.4 percentage points to 4.8 percent on our commercial properties.”
“Wallenstam has created a unique position to be able to capitalize on possible opportunities, which can arise in more uncertain times, while the company is neither unaffected by external events nor without challenges around the corner.”
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, 2023.
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 63 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.