Wihlborgs posts healthy growth and buoyant lettings
- Rental income rose 11 percent to SEK 2,218 million (1,997)
- Operating surplus rose 10 percent to SEK 1,615 million (1,462)
- Income from property management rose 25 percent to SEK 1,318 million (1,051).
- Profit for the period totalled SEK 1,377 million (1,469), corresponding to earnings per share of SEK 56 (9.56)
“In summarising the third quarter, we can state that demand in our markets remained high, with favourable activity levels and confidence among our customers. This is reflected in the period’s strong net lettings totalling SEK 75 million and an income from property management that increased a full 25 percent. We took advantage of the favourable market and posted healthy growth in rental value – up 3.9 percent in comparable portfolios,” says Ulrika Hallengren, CEO of Wihlborgs.
“Our vacancy levels are still low, meaning that it’s time for us to intensify our work with forthcoming development projects, for example Pulpeten 5, our next project in Hyllie. We will continue to grow, and will do so sustainably and responsibly.”
Wihlborgs Fastigheter AB (publ)
At 9:00 a.m. today, Ulrika Hallengren and Arvid Liepe will present the interim report
via a telephone conference. The presentation can be followed by webcast or
telephone + 46 (0)8 505 583 51 or +44 3333 009 265 (UK)
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 following contact people on 24 October 2019, 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 45 billion, representing an annual property rental value of SEK 3.3 billion.
Wihlborgs’ shares are listed on the Large Cap List of Nasdaq Stockholm.