Interim report Jan-Mar 2020: Increased earnings and financial stability create a strong and stable basis for continued development
- Rental income rose 9 percent to SEK 781 million (718).
- The operating surplus increased 11 percent to SEK 555 million (500).
- Income from property management improved 13 percent to SEK 460 million (406).
- Profit for the period totalled SEK 344 million (311), corresponding to earnings per share of SEK 2.24 (2.02).
“I am proud that we have, even in this turbulent time, been able to report very positive results. We continue to deliver and we continue to grow. This is, however, no typical quarter. The effects of the spread of the novel coronavirus have had a global impact. Our exposure to the segments that have immediately been affected is relatively small, but for every one of these tenants, the situation could be critical and we proceed with every dialogue based on each individual customer’s circumstances,” says Ulrika Hallengren, CEO of Wihlborgs.
“We will of course remain humble ahead of the long-term consequences of the corona pandemic, but we nonetheless see indicators of positive prospects in the Öresund region. Several leasing discussions have resumed in the past few weeks after having been put on hold for some time, and we have received inquiries for premises in both Sweden and Denmark from public sector organisations.”
“It is still too early to predict what the consequences will be over time, but we have established a long-term action plan, and for us it is more important than ever to contribute to our region developing in the best possible manner. We do this by means including continuing to invest in the future and in doing so, contributing to more people having a job to go to even in these turbulent times. Things will gradually return to normal, and we are convinced that, with our stable financial base and a region with favourable preconditions, we will be able to create new opportunities and continue to have the strength to grow.”
Wihlborgs Fastigheter AB (publ)
At 8:30 a.m. today, Ulrika Hallengren and Arvid Liepe will hold a presentation via a telephone conference. The presentation can be followed by webcast (https://tv.streamfabriken.com/wihlborgs-fastigheter-q1-2020) or telephone +46 8 505 58 359 or
+44 3333 009 034 (UK).
Link to webcast (https://tv.streamfabriken.com/wihlborgs-fastigheter-q1-2020)
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 below contact people on 28 April 2020, 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 46,6 billion, representing an annual property rental value of SEK 3.4 billion.
Wihlborgs’ shares are listed on the Large Cap List of Nasdaq Stockholm.
Contact information
For further information, please contact:
Ulrika Hallengren, CEO, Tel: +46 40 690 57 95
Arvid Liepe, CFO, Tel: +46 40 690 57 31