Interim report Jan-Jun 2017: Buoyant lettings and growth for Wihlborgs
· Rental income rose 9 percent to SEK 1,087 million (997) · The operating surplus increased 11 percent to SEK 810 million (733) · Income from property management improved 12 percent to SEK 551 million (493) · Profit for the period totalled SEK 892 million (1,383), corresponding to earnings per share of SEK 11.61 (17.99)
“I am pleased to report yet another extremely strong quarter. We have noted high demand and in the first six months, net lettings were a positive SEK 71 million, of which SEK 48 million pertained to the second quarter. This will build the foundation for increased earnings moving forward. However, we already have healthy growth with income from property management up 12 percent in the first six months,” says Anders Jarl, CEO of Wihlborgs Fastigheter.
“Moreover, the acquisition of 165,000 m² of office properties in Denmark for DKK 1.8 billion that was concluded on Sunday strengthens our position even further in the Danish market. Taken together, we see every prospect of Wihlborgs continuing to deliver profitable growth,” concludes Anders Jarl.
Wihlborgs Fastigheter AB (publ)
Presentation of the report
At 9:00 a.m. today, CEO Anders Jarl and CFO Arvid Liepe will present the interim report via a telephone conference. The presentation can be followed by webcast (https://tv.streamfabriken.com/wihlborgs-fastigheter-q2-2017) or telephone +46 (0)8 5664 2695 or +44 (0)20 3008 9806.
Link to webcast (https://tv.streamfabriken.com/wihlborgs-fastigheter-q2-2017)
This information is of such a kind that Wihlborgs Fastigheter AB (publ) is legally required to disclose pursuant to the EU’s Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication through the agency of the above contact people on 10 July 2017, at 7:30 a.m. CEST.
Wihlborgs Fastigheter AB (publ) is a property company that focuses on commercial properties in the Öresund region. Its property portfolio is located in Malmö, Helsingborg, Lund and Copenhagen.
In Malmö, Lund and Helsingborg, Wihlborgs is the leading property company.
The book value of the company’s properties totals SEK 34 billion. The annual rental value of the properties is SEK 2.4 billion.
Wihlborgs’ shares are listed on the Large Cap List of Nasdaq Stockholm.