Record new letting, again, and net letting positive
Demand continues for high quality in good locations
Quarterly revenue above SEK 1 billion for the first time
Higher financing costs but ICR at 2.5 times
Bond market recovering
2
Results March 2024
Rental income increased by 7% to SEK 1,040 million (971)
Operating surplus increased by 8% to SEK 718 million (667)
Income from property management amounted to SEK 424 million (457)
Result for the period amounted to SEK 348 million (255), corresponding to earnings per share of SEK 1.13 (0.83)
EPRA NRV increased by 2% to SEK 90.39 (92.08), adjusted for paid dividend, vs 12 months previously
3
Rental income development
Rental income Jan-Mar 2023, SEKm
971
Aquisitions
2
Currency effect
1
Index
48
Early termination fees
20
Additional charges
-7
Canteens
-8
Completed projects, new leases and
renegotiations etc.
13
Rental income Jan-Mar 2024
1,040
4
Net letting
SEKm
Q1
Q1
2024
2023
New leases
177
77
Terminations
148
72
Net letting
29
6
5
New leases Q4 - a selection
vv
Net letting quarterly
150
100
50
0
-50
-100
-150
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
New leases
Terminations
Net
7
20%
Revenues from top ten tenants
23%
Revenues from public tenants
Solid customers
City of Helsingborg
City of Malmö
Danish Building and Property Agency
Lund University
Malmö University
Novo Nordisk
SAAB
Skåne Regional Council
Swedish Social Insurance Agency
Trygg Hansa Insurance
8
Rental growth
entire property stock
01-04-202401-04-2023
SEK m
SEK m
Percent
Rental value
4,458
4,191
+6.4
Rental income
4,088
3,860
+5.9
Rental growth
like-for-like*
01-04-202401-04-2023
SEK m
SEK m
Percent
Rental value
3,380
3,201
+5.6
Rental income
3,128
2,979
+5.0
*Excluding project & land and additional charges and parking income
9
Changes in market value properties
SEK m
Carrying amount 1 January 2024
55,872
Acquisitions
-
Investments
470
Properties sold
-
Changes in value
-59
Currency translations
467
Carrying amount 31 March 2024
56,750
10
Attachments
Original Link
Original Document
Permalink
Disclaimer
Wihlborgs Fastigheter AB published this content on
23 April 2024 and is solely responsible for the information contained therein. Distributed by
Public, unedited and unaltered, on
23 April 2024 15:46:03 UTC.
Wihlborgs Fastigheter AB is a Sweden-based company active within the real estate sector. The Company is engaged in the ownership, management and development of primarily commercial real estate properties in the Swedish cities of Malmo, Lund and Helsingborg, as well as Copenhagen in Denmark. The Company operates two divisions, namely Property Management, which is organized in nine geographically defined sub-areas, and Business Development, which consists of two units: Project & Development, and Transactions. Projects & Development deals with new build and redevelopment projects, as well as procurement, while Transactions manages all the Companyâs purchases and sales of properties.
WIHLBORGS FASTIGHETER AB 
