Strong quarter with increased earnings and historically low vacancies for Wihlborgs
- Rental income grew 16 percent to SEK 1,997 million (1,719)
- Operating surplus increased 14 percent to SEK 1,462 million (1,277)
- Income from property management rose 19 percent to SEK 1,051 million (884)
- Profit for the period totalled SEK 1,469 million (1,495), corresponding to earnings per share of SEK 9.56 (9.73)
- EPRA NAV per share amounts to SEK 120.58 kr (105.72).
“Our earnings continue to improve and we can now sum up another excellent quarter. Income growth was driven by a combination of acquisitions, new production, rent increases and reduced vacancies. Our long-term investments in existing and new properties mean that values are continuously rising and in the third quarter, property value rose above SEK 40 billion,” says Ulrika Hallengren, CEO of Wihlborgs Fastigheter.
“Companies and organisations in the Öresund region are continuing to grow and demand for office space remains favourable. This is reflected in occupancy rates above 95 percent for offices in Malmö and Helsingborg, which is historically high. Our proximity to the market provides us with a good position to continue growing through our successful project development. Our investment levels are high and will remain so in the forthcoming years. Our access to construction opportunities in prime locations in these cities means we have the best preconditions in place to continue growing strongly,” concludes Ulrika Hallengren.
Wihlborgs Fastigheter AB (publ)
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 23 October 2018, 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 40.3 billion, representing an annual property rental value of SEK 2.9 billion.
Wihlborgs’ shares are listed on the Large Cap List of Nasdaq Stockholm.