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Wallenstam's interim report Jan-Sep 2024

Published 10/22/2024

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.finwire.tv. The presentation is available at www.wallenstam.se/filmsandpresentations before 09.00 (CEST).

January 1-September 30, 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 1,556 million (1,861).
  • On closing day, 1,379 apartments were under construction.
  • Rental income amounted to SEK 2,187 million (2,036).
  • Income from property management amounted to SEK 880 million (828).
  • Changes in value of investment properties amounted to SEK -44 million (-793).
  • Changes in value of financial instruments amounted to SEK -341 million (-12).
  • Profit before tax amounted to SEK 278 million (95) and profit after tax amounted to SEK 139 million (42), equivalent to SEK 0.2 per share (0.1).
  • Net asset value per share amounted to SEK 56.40, compared to SEK 56.20 on December 31, 2023.

July 1-September 30, 2024

  • Rental income amounted to SEK 730 million (697).
  • Income from property management amounted to SEK 316 million (296).
  • Changes in value of investment properties amounted to SEK -22 million (-188).
  • Changes in value of financial instruments amounted to SEK -432 million (112).
  • Profit after tax amounted to SEK -269 million (212), equivalent to SEK -0.4 per share (0.3).

Comment from Hans Wallenstam, CEO:                                                                                                                                 

"After a challenging time last year for Wallenstam, I can confirm that most things started to turn around in 2024 and this report shows that this trend is continuing. Our income from property management and net operating income are increasing again, the average interest rate has also fallen this quarter and on closing day the average interest rate was 2.95 percent, and the equity/assets ratio remains strong."

"For many years, we have felt that it would be natural for us to develop the commercial segment in Stockholm, since we own residential properties in both Gothenburg and Stockholm as well as commercial properties in central Gothenburg. Now we think that the timing is right and we will let our three-leaf clover become a four-leaf clover! The first stage in our new commercial segment venture in Stockholm's CBD was to sign an agreement the other week to acquire the scraper next to Sergels Torg square, the 5th Hötorget scraper. A unique building with great potential!"

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. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CEST on October 22, 2024.

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