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Wallenstam’s Year-end report Jan 1–Dec 31, 2019: Increase in net asset value of SEK 9 per share

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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 12.30 (CET) at the latest. A conference call with Susann Linde will take place at 12.30 (CET) at www.financialhearings.com. The presentation is available at www.wallenstam.se/filmsandpresentations.

January 1–December 31, 2019

  • The net asset value per share increased by SEK 9.00, 11 percent, during the period and amounted to SEK 91.30 (82.30).
  • The Board of Directors will propose a dividend of SEK 1.90 per share (1.90), spread between two payments of SEK 0.95 each per share.
  • Income from property management increased by about 10 percent and amounted to SEK 1,108 million (1,011).
  • Rental income increased by just over 6 percent and amounted to SEK 2,026 million (1,910).
  • Construction of properties amounted to SEK 3,322 million (2,198).
  • On closing day, we had 3,135 apartments under construction.
  • Changes in value of investment properties amounted to SEK 2,600 million (1,832).
  • Profit before tax amounted to SEK 3,464 million (3,445) and profit after tax amounted to SEK 2,737 million (2,998), equivalent to SEK 8.5 per share (9.3).

October 1–December 31, 2019

  • Income from property management increased by just over 1 percent and amounted to SEK 257 million (253).
  • Rental income increased by just over 5 percent and amounted to SEK 515 million (488).
  • Changes in value of investment properties amounted to SEK 1,590 million (764).
  • Profit after tax amounted to SEK 1,699 million (1,229), equivalent to SEK 5.3 per share (3.8).

 Comment from Hans Wallenstam, CEO:

“We generated an increase in net asset value of SEK 9 per share during the first calendar year in the new business plan, of the SEK 40 which is our goal for 2023. Income from property management increased by 10 percent to just over SEK 1.1 billion and the surplus ratio came in at 75.5 percent. These are really excellent numbers, which once again show how well the operations and our business model are working.”

“The strong demand for properties is affecting yield requirements and consequently also the valuation of the property holdings. The changes in value of our properties amounted to SEK 2.6 billion in 2019. It is extra satisfying to see that the changes in value from our efficient new production are making an increasing contribution to our value growth.”

For the complete report, please refer to the attached PDF.

 

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 below, at 12:00 CET on February 5, 2020.

For further information, please contact:
Susann Linde, CFO and Head of Investor Relations Wallenstam AB (publ) tel. +46 31 20 00 00 or +46 705 17 11 34

www.wallenstam.se

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 52 billion and the customer base consists of just over 9,000 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.

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