Interim report Jan-Mar 2019: Wihlborgs posts strong increase in income from property management and healthy growth
· Rental income rose 7 percent to SEK 718 million (668) · The operating surplus was up 9 percent at SEK 500 million (460) · Income from property management improved 25 percent to SEK 406 million (325) · Profit for the period totalled SEK 311 million (303), corresponding to earnings per share of SEK 2.02 (1.97)
“Our strong trend continues and income from property management increased a full 25 percent. Demand remains robust. In the first quarter, we signed new leases amounting to SEK 96 million, which sets a new high for a single quarter,” says Ulrika Hallengren, CEO of Wihlborgs Fastigheter.
“Our focus on increasing operating surplus and income from property management has, over time, strengthened our balance sheet and enabled us to complete acquisitions when opportunities arose. In the last six months, we have completed major acquisitions in Lund and Helsingborg encompassing a total of 121,000 m². Yesterday, we sold 27,500 m² in Lund as part of efforts to optimise our property portfolio and to prepare for new opportunities.
“In Malmö, we’re currently growing primarily through development projects in several different parts of the city. Activity in our project development is record high, with approved investments in ongoing projects totalling SEK 2.5 billion in our four cities. This means that we can continue developing both the company and the region.”
Wihlborgs Fastigheter AB (publ)
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 25 April 2019, at 7:30 a.m. CEST.
At 9:00 a.m. today, Ulrika Hallengren and Arvid Liepe will present the interim report via a telephone conference. The presentation can be followed by webcast (https://tv.streamfabriken.com/wihlborgs-fastigheter-q1-2019) or telephone +46 8 505 58 354 or +44 333 30 09 266.
Link to webcast (https://tv.streamfabriken.com/wihlborgs-fastigheter-q1-2019)
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 43.8 billion, representing an annual property rental value of SEK 3.1 billion.
Wihlborgs’ shares are listed on the Large Cap List of Nasdaq Stockholm.