Fastator Year-end report January-December 2016
Fourth quarter, September-December
Profit for the period MSEK 8.4 (20.1)
Earnings per share after dilution SEK 0.60 (1.53)
Return on equity 1.6% (4.9)
Full year January-December
Profit for the year MSEK 91 (79.2)
Earnings per share after dilution SEK 6.50 (6.44)
Return on equity 18.9% (21.1)
Net asset value MSEK 529.3 (437.5)
Net asset value per share after dilution SEK 37.75 (31.09)
Strong appreciation in value and expansion into new areas of the property market
Fastator continued to develop successfully and the fourth quarter also produced strong figures. Net asset value increased continuously during the full year and amounted to MSEK 529 at 31 December – an increase of approximately 20 percent compared with the year-earlier period.
During the fourth quarter our acquisition rate has also increased. On the one hand, we conducted two investments comprising a total of MSEK 75 in Portvakten Industrifastigheter, a rapidly growing property company with a strong local foothold in the Öresund region. On the other hand, we entered the market for digital property services by acquiring 25 percent of the Swedish fintech company Livshem Depositionsgaranti. During 2017, the company will launch a new digital service for managing rental deposits, with Fastator providing the capital and expertise.
Another highlight during the quarter was the divestment of Fastator’s shares in property company Konland AB in October. The sale realised a return for Fastator of 252 percent during the holding period – a fantastic result and proof of purchase of our ability to find attractive companies and objects with major growth potential.
Today, Fastator has approximately 1,200 shareholders. I look forward to a 2017 where even more share savers discover Fastator, and that our portfolio continues to develop towards attractive growth areas in the property market.
Joachim Kuylenstierna, Acting CEO Fastator
Stockholm, 24 February 2017
Fastator’s report for the fourth quarter of 2016 is available on the company’s website www.fastator.se and is published in Swedish and English.
For more information, please contact:
Joachim Kuylenstierna, Acting CEO
+46 70 515 51 51
Svante Bengtsson, CFO
+46 (0) 709 566 756
This is information of the type that Fastator is obligated to disclose in accordance with the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact persons set out above, on 24 February 2017 at 07.00 a.m.