Interim report jan-jun 2023: All time high operating surplus

7/10/2023 5:30 AM

Ulrika Hallengren, CEO of Wihlborgs, comments on the second quarter:

“Wihlborgs’ performance in the second quarter of 2023 is fairly easy to summarise: Our core business continues to perform well. Year-on-year, rental income increased 20 percent for the quarter. When the lease portfolio’s rental income is measured in like-for-like portfolios, it is up 12.1 percent on one year ago. Further reinforcement is provided to this figure by the increase of 1.5 percentage points in the occupancy rate during this period. The outlook for revenue moving forward is also strengthened by the fact that for the 33[rd] consecutive quarter our net lettings are positive at SEK 14 million for this quarter”. 

“Once again, a stable balance sheet for the quarter. Net debt in relation to operating profit decreased and now amounts to a multiple of 10.6. Available liquid assets in the form of unutilised credit facilities plus liquid assets amounted to slightly more than SEK 2.6 billion. Our dependence on the bond market remains low, since only 8 percent of our borrowings are raised in it. Our profitable core business and access to liquidity enables us to continue investing for the future.

“We also continue to develop our sustainability work at a high pace. Energy use per square meter continues to decrease by a further 3 percent during the quarter, and in Malmö the total district heating demand has decreased by 6 percent during the first half of the year. An important contribution is the installation of Wihlborg's innovative reversible heat pump in several properties with reduced energy use of up to 40 percent.”

Wihlborgs Fastigheter AB (publ)

At 9:00 a.m. today, Ulrika Hallengren and Arvid Liepe will present the interim report via a webcast and telephone conference.

Link to webcast:
https://financialhearings.com/event/46568

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 following contact people on 10 July 2023, 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 56.6 billion, representing an annual property rental value of SEK 4.3 billion. Wihlborgs’ shares are listed on the Large Cap List of Nasdaq Stockholm.