2020 year-end report: Stable income from property management and record-strong financial position for Wihlborgs
- Rental income increased by 3 percent to SEK 3,074 million (2,983)
- Operating surplus increased by 4 percent to SEK 2,222 million (2,140)
- Income from property management increased by 3 percent to SEK 1,830 million (1,775)
- Result for the period amounts to SEK 2,222 million (2,923), corresponding to earnings per share of SEK 14.46 (19.02)
- EPRA NAV rose 12 percent to SEK 152.44 (140.20)
- The Board of Directors proposes a dividend of SEK 5.25 (4.50) per share
“Our property management continued to deliver solid results during the fourth quarter and we can reflect on a positive year despite the effects of the pandemic. Thanks to our organisation’s dedicated efforts, we were able to leverage market activity and we posted positive net lettings for all four quarters. Net lettings for the full year were SEK 31 million, of which SEK 16 million were in the fourth quarter” says Ulrika Hallengren, CEO of Wihlborgs.
“In light of the market activity, we continue to invest in our property portfolio. We have now, for example, commenced the office project Kvartetten (Pulpeten 5) in Hyllie, an area in which we currently have no vacancies. Continuing to invest in the Öresund region is our most important contribution to continued growth, and a way to create long-term value for us and for our tenants. These investments also boost economic activity and create jobs in the region.”
“To conclude, we have been able to grow, increase earnings and create an even stronger financial position in 2020. Having created an even more stable platform, despite these challenging times, provides us with additional strength for future growth.”
Wihlborgs Fastigheter AB (publ)
At 9:00 a.m. today, Ulrika Hallengren and Arvid Liepe will present the Year-end report via a telephone conference. The presentation can be followed by webcast (https://tv.streamfabriken.com/wihlborgs-fastigheter-q4-2020)or telephone +46 8 505 58 366 or +44 3333 009 273 (UK).
Link to webcast (https://tv.streamfabriken.com/wihlborgs-fastigheter-q4-2020)
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. This information was submitted for publication through the agency of the following contact people on 16 February 2021, at 7:30 a.m. CET.
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 46.1 billion, representing an annual property rental value of SEK 3.3 billion.
Wihlborgs’ shares are listed on the Large Cap List of Nasdaq Stockholm.