Platzer Fastigheter Holding AB (publ): Highest operating surplus to date and continued focus on customer and cash flow
- Rental income increased to SEK 1,453 million (1,229)
- Income from property management amounted to SEK 609 million (668)
- Unrealised changes in the value of properties amounted to SEK -1,277 million (2,562)
- The company posted a loss for the period of SEK -943 million (3,026)
- Property portfolio increased to SEK 28,250 million (26,994)
- Earnings per share totalled SEK -7.87 (25.26)
- Operating surplus increased to SEK 1,123 million (939)
- Positive net lettings of SEK 44 million, primarily in investment properties
- 133,000 sq. m. of industrial/logistics space completed and occupied
- Platzer BBB- issuer rating affirmed but outlook revised
- Board of Directors proposes a dividend of SEK 2.00 per share (2.30), to be paid in two instalments of SEK 1.00/share
Johanna Hult Rentsch, CEO of Platzer, said:
After a year characterised by revised property values in a tougher market, we reported our largest operating surplus to date. We have achieved this through our successful letting business, well-timed office projects and investments in Industrial and Logistics, which quickly generate increased cash flow and boost our investment yield. Thanks to a stronger customer focus, successful district development and ambitious sustainability indicatives, we have good reason to be cautiously optimistic about the future.
In 2023 our operating surplus exceeded SEK 1 billion for the first time. This corresponded to an increase of 21% overall and 12% for comparable property. We generated positive net lettings this quarter too, SEK 6 million, and on an annual basis we delivered the highest lettings ever in our wholly owned property portfolio of SEK 130 million. Rents grew by 18% in the financial year 2023 and rental income amounted to SEK 1,453 million. The surplus ratio also improved in the year to 78%. This was the result of solid, persistent work in the organisation to streamline our properties.
For more information, please contact:
Johanna Hult Rentsch, CEO, Platzer, tel: +46 (0)709 99 24 05
Fredrik Sjudin, CFO, Platzer, Tel: +46 (0)721 27 77 78
This is information that Platzer Fastigheter Holding AB (publ) is obliged to disclose in accordance with the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was released for publication on 26 January 2024 at 08:00 CET through the agency of the contact persons shown above.
Platzer Fastigheter Holding AB (publ) owns and develops commercial property in Gothenburg worth around SEK 28 billion. Platzer is listed on Nasdaq Stockholm, Mid Cap.