Q1 2025 Wallenstam AB Earnings Call Transcript

Apr 28, 2025 / 07:00 AM GMT

Release Date Price: kr46.62 (-1.28%)

Transcript

Key Points

Positve

Wallenstam AB (FRA:WAE) reported a 7% increase in net operating income, reflecting strong operational performance.
The company achieved a high occupancy rate with residential properties fully let and commercial properties at 91% occupancy.
Wallenstam AB completed 343 rental apartments in the first quarter, all of which are fully let, demonstrating strong demand.
The company has a stable balance sheet with an equity ratio of 44% and a loan-to-value (LTV) ratio of 47%.
Wallenstam AB's newly constructed residential property in Naa Grace won an award for Sweden's finest new construction in 2024, highlighting the quality of their developments.

Negative

Operating expenses increased by almost 10%, driven by higher property management costs and tariff increases.
The administration expenses rose by 10 million due to new IT systems and increased personnel expenses.
The interest coverage ratio is relatively low at 2.8 times, which could indicate potential financial strain if interest rates rise.
The average interest rate during the first quarter was 2.54%, which, while lower than last year, still represents a significant cost.
The company has increased its interest-bearing liabilities by approximately 2 billion during the quarter, which could impact future financial flexibility.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

WALLb.ST - Wallenstam AB
Q1 2025 Wallenstam AB Earnings Call
Apr 28, 2025 / 07:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to the presentation of the first quarter of 2025 of Wallenstam. My name is Susan Linde, CFO and head of investor relations here at Valenstam.

So what has happened this first quarter then we are taking possession of the property in the picture as of last January this year. It's Sergiropan in the CBD of Stockholm.

So now we are also on the commercial market in Stockholm.

We also vacated 4 commercial properties in Gorda and Huwsburg in Gothenburg as of February 3rd.

We have also bought a land for future project in Stockholm, Sturakundal close to.

We have also continued to buy back shares during the quarter and have repurchased a total of 5 million additional shares. We now have

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