Year-End Report 2018

REPORT SUMMARY

Financial summary for the period 1 July 2018 - 31 December 2018.

  • Rental Income for the period amounts to 41 406 kSEK (40 761 kSEK).
  • Operational profit for the period amounts to 29 234 kSEK (27 611kSEK), equal to 6,36 SEK (6,01 SEK) per share.
  • The properties unrealised change in market value for the period amounts to 60 000 kSEK (60 000 kSEK). Change in market value on derivatives for the period amounts to 3 390 kSEK (1 902 kSEK), relating to the change in value on the existing SWAP agreement which aims to secure a fixed interest cost during the lifetime of the loan.
  • Net Income for the period amounts to 73 787 kSEK (69 867 kSEK), equal to 16,04 SEK (15,19 SEK) per share.

Financial summary for the period 1 January 2018 - 31 December 2018.

  • Rental Income for the period amounts to 82 801 kSEK (81 487 kSEK).
  • Operational profit for the period amounts to 60 449 kSEK (57 370 kSEK), equal to 13,14 SEK (12,47 SEK) per share.
  • The properties unrealised change in market value for the period amounts to 60 000 kSEK (60 000 kSEK). Change in market value on derivatives for the period amounts to 4 938 kSEK (4 633 kSEK), relating to the change in value on the existing SWAP agreement which aims to secure a fixed interest cost during the lifetime of the loan.
  • Net Income for the period amounts to 103 608 kSEK (95 160 kSEK), equal to 22,52 SEK (20,69 SEK) per share.

Important events during the period

  • The annual external valuation determined the value of the property to be 1 360 mSEK, resulting in an unrealized increase in value of 60 mSEK.
  • The restauration of a total of 8 000 square meters has been ongoing during the financial year whereas the tenant also has invested in upgrading the premises. The joint investment from the landlord and the tenant approximates to 100 MSEK for the period 2017-2018. The area was taken in to use by the tenant in the last quarter of the financial year and the restauration was completed during the first quarter of 2019. 

The board of directors propose a dividend to the shareholders amounting to 7,35 SEK per share for the financial year 2018 with payments divided in three quarters of 2,45 SEK per share.

For more detailed information please find attached the Year-End Report.

Stockholm 2019-02-28

For additional information, please contact:
Diego Velasquez, CFO 
+ 46 73-748 38 83
diego.velasquez@hestia.se

Stefan Björkqvist, CEO
+46 70-415 84 18
stefan.bjorkqvist@hestia.se

Or visit the company's website: www.saltangenpropertyinvest.se

Saltängen Property Invest AB (publ) is a Swedish property company that indirectly owns and manages the property Saltängen 1 in Västerås. The property is a warehouse and office building, that was built in 1975 and subsequently developed in two phases in 1990 and 2003 and has a total lettable area of approximately 104,726 square meters. The property is fully let to ICA Fastighets Sverige AB until 30 September 2023. Saltängen Property Invest is listed on the Nasdaq Stockholm First North with Wildeco as Certified Adviser. (Tel: +46 8 545 271 00, mail: info@wildeco.se.)

This information is information that Saltängen Property Invest AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 CET on 28 February 2019.

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