Platzer.se
Platzer.se

Year-end report 1 Jan - 31 Dec 2017

Report

A record year for Platzer

  •  Rental income increased to SEK 995 million (687) 
  •  Income from property management improved by 51% to SEK 486 million (322) 
  •  Profit for the period amounted to SEK 1,393 million (500) 
  •  Property portfolio increased in value to SEK 15,559 million (13,615) 
  •  Long-term net asset value (EPRA NAV) per share was SEK 58.39 (45.72) 
  •  Earnings per share amounted to SEK 11.54 (4.92)  
  •  The Board of Directors proposes a dividend of SEK 1.50 per share (1.10) 
  •  Acquisition of Piren2 in Lindholmen 
  •  Acquisition of 50% of the Merkur building in Skeppsbron 
  •  Agreement with NCC on joint project development in Gårda and option on acquisition of office project in the centre of Mölndal 
  •  Sales of building rights in Södra Änggården to four housing developers for a total of SEK 1.7 billion 
  •  Office space of 15,000 sq. m. in the Gårda Vesta project let to the Swedish Tax Agency 

Platzer’s CEO, P-G Persson, said: 

-          We own and develop properties and our ambition is to offer commercial space in the very best locations in Gothenburg. This strategy was successful also in 2017. Both income from property management and EPRA NAV rose to record levels. We also signed major lease agreements for future projects in Gårda and sold future building rights in Södra Änggården, which will contribute to continued strong growth in EPRA NAV in the future. 

-           One of our financial targets is to increase our EPRA NAV per share by 10% a year. In 2017 we exceeded this target by a significant margin. Investment gains from projects such as Gamlestads torg and a net new lettings surplus in the property portfolio, together with lower investment yield requirements, resulted in higher property values and thus an increase in EPRA NAV of 28%.

 

For more information, please contact: 

P-G Persson, CEO, Platzer, Tel: +46 (0)734 111222
Lennart Ekelund, CFO, Platzer, Tel: +46 (0)703 98 47 87

The information in this press release is information that Platzer Fastigheter Holding AB (publ) is legally obliged to disclose in accordance with the Swedish Financial Instruments Trading Act. The information was released for publication at 08:00 CET on 8 February 2018.

Platzer Fastigheter Holding AB (publ) owns and develops commercial properties in the Gothenburg area comprising a total lettable area of around 800,000 sq. m. and with a value of around SEK 16 billion. Platzer is listed on NASDAQ Stockholm, Mid Cap.