Wihlborgs Interim report quarter 2 2008

  • The result for the period amounted to SEK 204 million (283) which corresponds to SEK 5.45 per share (7.36)
  • Rental income for the period increased to SEK 579 million (510)
  • Profit for the period from ongoing property management was SEK 163 million (163)
  • Net operating income increased to SEK 409 million (354)
  • Value changes in properties amounted to SEK 55 million (128)
  • Equity/assets ratio amounted to 32.3 procent (32.6)

― The demand for office premises remains at the same high level as last year. Wihlborgs shows a continuing strong net letting of SEK 28 million with  reduced vacancy levels for the period. We can also establish that office rents for similar property stocks in Malmö and Helsingborg increased by 8.7 per cent, says Anders Jarl CEO of Wihlborgs Fastigheter AB.

 ― We have compensated the substantial higher interest rates with an increased net operating income so that the result from ongoing property management is unchanged compared with last year, continues Anders Jarl.

― The direct yield is 6.4 per cent excluding the project portfolio and therefore there is no need for a downward adjustment of the properties values, finishes Anders Jarl.

 Wihlborgs Fastigheter AB (publ)

CEO, Anders Jarl, will present the interim report tomorrow on 9 July at 13.15 hrs in Båstad Capital Market Days. You can participate in the conference by phoning + 46 8 5052 0270 or + 44 208 817 9301. The presentation will also be webcasted, www.wihlborgs.se or www.financialhearings.com.