Wallenstam's interim report Jan-Mar, 2023: Good position even in more uncertain timesPublished 5/3/2023
Hans 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-March 31, 2023
- The equity/assets ratio amounted to 47 percent and the loan-to-value ratio was 45 percent.
- Investment in construction of properties amounted to SEK 653 million (684).
- On closing day, 1,622 apartments were under construction.
- Rental income amounted to SEK 660 million (616).
- Income from property management amounted to SEK 265 million (322).
- Changes in value of investment properties amounted to SEK 0 million (187).
- Net asset value per share amounted to SEK 57.60 (57.40).
- Changes in value of financial instruments amounted to SEK -247 million (749).
- Profit before tax amounted to SEK 69 million (1,285) and profit after tax amounted to SEK 48 million (1,207), equivalent to SEK 0.1 per share (1.8).
Comment from Hans Wallenstam, CEO:
"We are now in the middle of an inflation crisis, which is reflected in increased financing costs, higher operating expenses, increased construction costs etc. Wallenstam stands strong even in this crisis, with a strong balance sheet, good financing possibilities and very attractive properties."
"As I have stated previously, we are going to face many challenges in the coming years. But with our long-term strategies and the stability that Wallenstam has, I feel both secure and full of confidence ahead of the future. Remember that economic cycles are like the seasons - after winter comes spring!"
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 May 3, 2023.