Wihlborgs posts record strong results and continued growth
- Rental income rose 14 percent to SEK 2,684 million (2,351)
- Operating surplus rose 13 percent to SEK 1,941 million (1,717)
- Income from property management rose 19 percent to SEK 1,406 million (1,179).
- Profit for the period totalled SEK 2,403 million (2,568), corresponding to earnings per share of SEK 15,63 (16,71)
- The Board of Directors proposes a dividend of SEK 3.75 (3.13) per share
“We close the books on another record year. Each year since we first listed on the stock exchange in 2005 has been a record year — irrespective of whether one looks at rental income, operating surplus or income from property management. This shows that our constant desire to strive to take responsibility for what we have and to develop it further is deeply rooted in our culture,” says Ulrika Hallengren, CEO of Wihlborgs Fastigheter.
“We have noted continued healthy demand for office space. Our net lettings remain strong, SEK 85 million for the full year, and our office vacancies are at very low levels. Given the healthy level of regional demand, it is critical that we continue to develop new space in all our cities. Our project portfolio is at an all-time high, with decided investments in excess of SEK 2 billion. We are creating new business opportunities with our development projects that, in combination with the low vacancy levels in existing properties, will comprise the foundation of our continued growth.”
“We have also grown through acquisitions. We have increased our presence in Lund through the acquisition of the Nya Vattentornet 3 property in the fourth quarter of 2018, and we acquired the adjacent properties, Nya Vattentornet 2 and 4, last week. Altogether, this means that we are well-positioned to develop the company and the region.”
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 42.1 billion, representing an annual property rental value of SEK 3.0 billion.
Wihlborgs’ shares are listed on the Large Cap List of Nasdaq Stockholm.