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Interim report Jan-Jun 2022: Record new lettings for Wihlborgs

· Rental income increased 8 percent to SEK 1,599 million (1,477). · Operating surplus increased 9 percent to SEK 1,135 million (1,046) · Income from property management increased 11 percent to SEK million 950 (859). · Profit for the period amounted to SEK 1,549 million (1,007), corresponding to earnings per share of SEK 5.04 (3.28).

“In a turbulent operating environment, Wihlborgs’ business model continues to deliver. The robust net lettings during the most recent quarters continued, with SEK 41 million during the second quarter, and with a record-high level of SEK 109 million in new leases. The level of activity among our tenants is high and where there is activity, there are also business opportunities,” says Ulrika Hallengren, CEO of Wihlborgs. 

“Against a backdrop of positive earnings, the balance sheet is also strong. Our equity/assets ratio amounted to 42.1 percent and loan-to-value ratio to 48.0 percent. At a multiple of 7.2, our interest coverage ratio demonstrates our considerable capacity to generate a strong cash flow. Despite increases in material prices and challenges in various supply chains, work in our projects is continuing largely according to plan, thanks in large part to our well-established partnerships with contractors in our region.

“Our new thresholds for maximum CO2 impact in new-build projects and our internal price for CO2 in our redevelopment projects were introduced and will be part of the basic assessments in our investment calculations going forward. We have a long way to go, like the rest of the industry, but this is a step in right direction that forces us, our suppliers and our customers to consider more choices and their consequences. This is how we can really make a difference.”

Wihlborgs Fastigheter AB (publ)

At 9:00 a.m. today, Ulrika Hallengren and Arvid Liepe will present the interim report via a webcast and telephone conference.

Link to webcast:
https://financialhearings.com/event/44260      

Telephone conference:
SE: +46856642695
UK: +443333009260
US: +16467224956

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 following contact people on 11 July 2022, 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 51.8 billion, representing an annual property rental value of SEK 3.5 billion. Wihlborgs’ shares are listed on the Large Cap List of Nasdaq Stockholm.

Contact information

For further information, please contact:
Ulrika Hallengren, CEO, Tel: +46 40 690 57 95
Arvid Liepe, CFO, Tel: +46 40 690 57 31
 

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