· Rental income increased to
· Income from property management increased to
· Profit for the period increased to
· Property portfolio increased to
· Earnings per share increased to
· Letter of intent signed with
· Detailed development plan for Södra Änggården adopted by
· Platzers and Bockasjö's JV Sörreds Logistikpark set up.
Platzer's CEO, P-G Persson, said:
- This report is the first reconciliation after a period that has been significantly focused on and impacted by the coronavirus crisis. We are humbled to say that against a backdrop of our relatively limited exposure to affected sectors, together with a high proportion of bank financing and tenants with strong balance sheets, the overall picture is better than we had feared.
- Despite the quarter just ended having been an abnormal one, involving more negotiations on rent discounts and rent reductions than any other quarter in my twelve years as CEO, we managed to boost our operating surplus by 5% compared with the same quarter in the previous year and by 2% compared with Q1 2020.
- In a subdued letting market we were able to agree enough leases to achieve positive net lettings for the 16th quarter in a row.
- We have opted for a cautious approach in our property valuations in view of growing uncertainty in the quarter. In this quarter we therefore did not achieve the growth in net asset value we have recorded many quarters in a row. However, compared with the same quarter in the previous year, EPRA NAV increased by 17%, which was well above our financial target of 10% a year.
For more information, please contact:
P-G Persson, CEO, Platzer, Tel: +46 (0)734 11 12 22
Fredrik Sjudin, CFO, Platzer, Tel: +46 (0)721 27 77 78
The information in this press release is information that
https://news.cision.com/platzer-fastigheter-holding-ab--publ-/r/positive-recovery-in-subdued-market,c3149729
https://mb.cision.com/Main/8443/3149729/1275651.pdf
https://mb.cision.com/Public/8443/3149729/809fff023f75b898.pdf
(c) 2020 Cision. All rights reserved., source