Q4 2024 Wallenstam AB Earnings Call Transcript
Key Points
- Wallenstam AB (STU:WAE) invested SEK 2.1 billion in new and reconstruction projects, indicating strong commitment to growth and development.
- The company started construction of 577 apartments and completed 354, all of which are fully occupied, showcasing effective project management and demand.
- Rental income increased by SEK 193 million, a 7% rise, driven by both comparable holdings and new constructions.
- The company achieved a surplus ratio of 76%, reflecting efficient cost management and profitability.
- Wallenstam AB (STU:WAE) has a stable balance sheet with an equity ratio of 45% and an LTV of 46%, indicating financial stability.
- The company experienced refrigerant leakage, leading to an increase in CO2 emissions compared to the previous year.
- Interest-bearing liabilities increased by SEK 1.3 billion, raising concerns about debt levels.
- The financial net was higher by 13% compared to last year, indicating increased financial costs.
- The company recognized an impairment loss of SEK 62 million in wind turbines due to lower forecasted electricity prices.
- Wallenstam AB (STU:WAE) wrote down its holding in Commando to zero, reflecting challenges in associated companies.
Welcome to this conference call for the fourth quarter, 2024. My name is Susann Linde CFO and Head of Investor Relations here at Valent Town. I would like to start by summarizing the year 2024.
We have invested a total of SEK 2.1 billion in our new and reconstruction projects.
We have started construction of 577 apartments and completed 354 apartments, all of which are fully occupied. We have also signed new leases for approximately 25,000 square meters of new commercial spaces.
But what had happened during this fourth quarter? then we told you last conference call that we have signed an agreement for the acquisition of the Service propound we signed it in October. It's in Stockholm and it's from AMF for SEK2.8 billion and just before Christmas you can see here on the Christmas tree on the picture.
We also signed an agreement for the sale of four commercial properties, three in Gorda and one in Högsbo to pig a passion and so yell for a total of SEK1.25 billion. Both transactions have
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