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Interim report Jan-Mar 2022: Net lettings remain strong and earnings rise for Wihlborgs

Interim report

· Rental income increased by 8 percent to SEK 795 million (738). · Operating surplus increased by 9 percent to SEK 557 million (509). · Income from property management increased by 12 percent to SEK 467 million (416). · Profit for the period amounted to SEK 816 million (478), corresponding to earnings per share of SEK 5.31 (3.11).

- We followed up the fourth quarter’s record high net lettings with another strong figure of SEK +28 million. All four of our regions contributed positively and the large number of transactions with new and existing tenants collectively continue to generate growth, says Ulrika Hallengren, CEO of Wihlborgs.

- The strong performance led to an equally strong balance sheet. Our equity/assets ratio at the end of March amounted to 43.6 percent and the loan-to-value ratio was 45.8 percent. We have a long-term net asset value (EPRA NRV) per share of 177, which is 17 percent higher year-on-year after adjustment for dividends distributed in 2021. During the quarter, the average interest rate in our loan portfolio fell somewhat, and thanks to our strong cash flow the interest coverage ratio was a multiple of 7, a record-strong performance.

- It is clear that the office is now regarded in an entirely different light now that workplaces, in addition to being attractive, need to be clear meeting places for collaboration, social contact, innovation and development. We can also note that our customers have the confidence to invest in the future. Despite troubling times, optimism and action are at high levels.

Wihlborgs Fastigheter AB (publ)

At 8:00 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/41688

Telephone conference:
SE: +46 850 55 83 59
UK: +44 333 300 92 60
US: +1 6467224903

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 below contact people on 26 April 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 50.6 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
Christina Malmberg, IR & PR Manager, Tel: +46 40 661 97 12

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