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Wallenstam's year-end report 2024

Published 2/6/2025

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 13.30 (CET) at the latest. An audiocast in English with Susann Linde will take place at 14.00 (CET) at www.finwire.tv. The presentation is available at www.wallenstam.se/filmsandpresentations before 14.00 (CET).

January 1-December 31, 2024

  • The equity/assets ratio amounted to 45 percent (46) and the loan-to-value ratio was 46 percent (46).
  • Investment in new construction and reconstruction of properties amounted to SEK 2,113 million (2,379).
  • On closing day, 1,304 apartments were under construction.
  • Rental income amounted to SEK 2,922 million (2,730).
  • Income from property management amounted to SEK 1,150 million (1,039).
  • Changes in value of investment properties amounted to SEK 388 million (-787).
  • Changes in value of financial instruments amounted to SEK 102 million (-916).
  • Profit before tax amounted to SEK 1,185 million (-582) and profit after tax amounted to SEK 774 million (-450), equivalent to SEK 1.2 per share (-0.7).
  • Net asset value per share amounted to SEK 57.50, compared to SEK 56.20 on December 31, 2023.
  • The Board of Directors will propose a dividend of SEK 0.50 per share (0.50), spread between two payments of SEK 0.25 each per share.

October 1-December 31, 2024

  • Rental income amounted to SEK 736 million (694).
  • Income from property management amounted to SEK 270 million (211).
  • Changes in value of investment properties amounted to SEK 431 million (7).
  • Changes in value of financial instruments amounted to SEK 443 million (-904).
  • Profit after tax amounted to SEK 635 million (-492), equivalent to SEK 1.0 per share (-0.7).

Comment from Hans Wallenstam, CEO:                                                                                                                                 

"An exciting, challenging and brighter year - those were my hopes ahead of 2024. Now that we are closing the books for the year, I can state that my hopes were realized. 2024 was the year when we could see that the numbers turned upwards again. The year when we could increase our new construction, complete key property transactions and where we also took a big step forward as a company when we entered the office market in Stockholm CBD."

"Our business is functioning well and we see a continued good earnings trend where rental income is increasing and operating expenses are decreasing. Income from property management increased by just over 10 percent compared to the previous year. In the fall, we hedged a further large proportion of our interest rates with interest rate derivatives, which has led to a lower average interest rate, which on closing day was 2.54 percent, and a longer fixed interest term, 52 months."

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

www.wallenstam.se

This is information that Wallenstam is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 13:00 CET on February 6, 2025.

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