Wihlborgs’ earnings keep growing
- Rental income rose 5 percent to SEK 1,505 million (1,435).
- Operating surplus improved 6 percent to SEK 1,134 million (1,065).
- Income from property management increased 8 percent to SEK 767 million (711).
- Profit for the period totalled SEK 1,670 million (1,343), corresponding to
earnings per share of SEK 21.73 (17.47).
“Once again, Wihlborgs has posted another record-breaking quarter. Rental income, operating surplus and income from property management have never been this high, and net lettings continue to trend positively. For the full-year 2016, our income from property management will exceed SEK 1 billion,” says Anders Jarl, CEO of Wihlborgs Fastigheter.
“Our financial position was strengthened further during the quarter. The loan-to-value ratio is now 54 percent and the equity/assets ratio is 33 percent, thereby providing us with a stable base to continue to grow, which we will continue to do through our project development among other activities. We have ongoing projects with a value exceeding SEK 1 billion, of which the largest are Posthornet in Lund and Sirius in Malmö,” concludes Anders Jarl.
Wihlborgs Fastigheter AB (publ)
For further information, please contact:
Anders Jarl, CEO, Tel: +46 (0)40 690 57 10
Arvid Liepe, CFO, Tel: +46 (0)40 690 57 31
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 20 October 2016, 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, where Wihlborgs is the leading property company.
The book value for the Company’s properties totals SEK 31 billion with an annual rental value of SEK 2.3 billion.
Wihlborgs’ shares are listed on the Large Cap List of Nasdaq Stockholm.