Wallenstam's Interim report Jan 1-Sep 30, 2020: Wallenstam generates results through its own work
Published 10/22/2020Hans Wallenstam, CEO, and Susann Linde, CFO and Head of Investor Relations, comment on the report at www.wallenstam.se/filmsandpresentations. The film will be released by 08.30 (CEST) at the latest. An audiocast in English with Susann Linde will take place at 09.00 (CEST) at www.financialhearings.com. The presentation is available at www.wallenstam.se/filmsandpresentations before 09.00 (CEST).
January 1-September 30, 2020
- The net asset value per share increased by SEK 3.80 during the period and amounted to SEK 95.10 (91.30).
- Income from property management amounted to SEK 860 million (851), after giving Covid-19 discounts of just over SEK 30 million net.
- Rental income increased by 4 percent and amounted to SEK 1,576 million (1,511).
- Investment in construction of properties amounted to SEK 2,955 million (2,390).
- On closing day, 2,939 apartments were under construction.
- Changes in value of investment properties amounted to SEK 616 million (1,009), which came entirely from value growth in new construction (505).
- Profit before tax amounted to SEK 1,240 million (1,286) and profit after tax amounted to SEK 974 million (1,038), equivalent to SEK 3.0 per share (3.2).
July 1-September 30, 2020
- Income from property management amounted to SEK 310 million (304).
- Rental income increased by 5 percent and amounted to SEK 536 million (510).
- Changes in value of investment properties amounted to SEK 187 million (460), which came entirely from value growth in new construction (198).
- Profit after tax amounted to SEK 344 million (463), corresponding to SEK 1.1 per share (1.4).
Comment from Hans Wallenstam, CEO:
"The results so far in 2020 shows that Wallenstam's business is performing very well. Thanks to our business model, we can also generate results in more uncertain times through our own work. We are continuing to deliver and can be proud of what we do. We are gradually continuing to create value, for society, our customers and our shareholders."
"Our new construction in progress has essentially not been impacted at all by the pandemic but is proceeding as planned. Demand for housing is still enormous in the locations where we operate. At present, just over 120,000 people are in our own queue for our newly produced rental apartments. In the commercial holdings, there is uncertainty regarding the most exposed sectors. For us, it is shops and restaurants in the ground floors of our properties that are facing the toughest situation, while there is strong demand for our office space."
For the complete report, please refer to the attached PDF.
For further information, please contact:
Susann Linde, CFO and Head of Investor Relations Wallenstam AB, tel. +46 31 20 00 00 or +46 705 17 11 34
| This is information that Wallenstam is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CEST on October 22, 2020. |