Our strategic investments in industrial and logistics are bearing fruit

• Rental income increased to SEK 404 million (350)
• Income from property management increased to SEK 169 million (161)
• Profit for the period increased to SEK 230 million (27)
• Value of property portfolio amounted to SEK 28,415 million (28,250)

• Earnings per share increased to SEK 1.92 (0.23)
• Rental income increased by 15%
• Operating surplus increased by 18%
• Positive net lettings of SEK 3 million
• 15,000 sq. m. let to Volvo Cars in Sörred Logistikpark
• Green MTN of SEK 350 million issued

Johanna Hult Rentsch, CEO of Platzer, said:

“Our focus on customers and cash flow continues to be our priority and I am pleased to see that we increased our rental income by a total of 15% and that the dedicated work of our organisation is also showing in our financial performance. Our net lettings remained positive, amounting to SEK 3 million.”

“The strong performance was primarily due to our newly produced logistics properties on Hisingen. We are now reaping the benefits of new and previous investments. In the first quarter we signed leases for 22,000 sq. m. in this segment, of which 15,000 sq. m. was let to Volvo Cars in Sörred Logistikpark.”

“Office vacancies are rising in several large cities but in Gothenburg the trend is in the opposite direction. Vacancy rates in Central Business District (CBD) have stopped rising and in the city centre excluding CBD, where most of the new production took place, vacancy rates are falling. We are still in a recession and are humbled by the fact that some industries are struggling while others are doing well.”

“By being able to satisfy the changing needs of our customers, we were able to renegotiate leases with a rental value of SEK 39 million in the quarter. Several of these leases have terms of up towards ten years, contributing to reducing our risk and extending our average remaining lease term to 54 months (51).”

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 required to disclose in accordance with the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was released for publication on 17 April 2024 at 08:00 CEST through the agency of the contact persons shown above.

Platzer Fastigheter Holding AB (publ) owns and develops commercial property worth SEK 28 billion. Platzer is listed on Nasdaq Stockholm, Mid Cap.