Jefast Holding AB (publ) publishes its Year-End report Jan- Dec 2017

For the full report, please click here.

Period Oct-Dec 2017 

  • Revenue increased to 76.6 m (71.9)
  • Operating profit amounted to 52.7 m (61.1)

Period Jan – Dec 2017

  • Revenue increased to 305.8 m (275.2)
  • Operating profit amounted to 159.8 m (221.4)
  • Net Loan to Value amounted to 65.8 % (65.6*)
  • The interest coverage ratio amounted to 1.5x (1.6*)
  • Property value increased to 3,281 m (2,458)

Events in the reporting period Oct – Dec 2017

  • Two acquisitions took place during the fourth quarter. Oskar II 3 with 2,585 m² located in Helsingborg as a company transaction. Noshörningen 2, 12, 21 with 7,600 m² located in Höganäs was also acquired. The acquisition was made through a property acquisition. Jefast took occupancy of the properties on October 16 2017.
  • Jefast announced postponing of the opening date for the Galleria at Kv Holland 25. 
  • New team members - two new positions and one replacement. We welcome Alexandra Werder Hallonkvist as our Centermanager, Mikael Lidner as our new Property Director and Jessica Stenström as Assistant Property Manager.  
  • Pelican Grand Beach Resort was voted a top resort by Condé Nast the hotel was recognised as the number 9 out of 127 hotels in Ft Lauderdale.
  • Rent Negations were finalised for 2018 - approximately 1 % increase throughout the portfolio
  • Building permit for a 20-story apartment building at Kv Holland was approved by the City of Helsingborg
  • Holland 25 was divided into a three dimensional property. Holland 25 consists of the galleria including all commercial premises as well as the parking; Holland 26 consists solely of the cinema; Holland 27 will be the apartment building. 
  • Two new tenants were signed for Kv Holland - Pizzabakaren a Norwegian pizza chain as well as a Nail-studio. 

Events after the reporting period 

  • The Pelican Grand Beach Resort loan was refinanced in the beginning of February with the same lender but with better terms
  • Cap issuance of 204 m sek was finalised for the Swedish business 

*compared to December 31 2016

 

For further information, please contact:

Cassandra Jertshagen, CEO

Tel. +46 42 36 12 01

E-mail: cassandra@jefast.se

 

Maria Jonasson, CFO

Tel. +46 42 36 12

E-mail: maria@jefast.se

 

This information is information that Jefast Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014/EU). The information was submitted for publication, through the agency of the contact person set out above CEO Cassandra Jertshagen, at 18:30 CET on 28 February 2018.

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Jefast was founded in 1977 and has since then had its headquarter in Höganäs, Skåne. Jefast owns and develops properties in Höganäs and Helsingborg and its close surroundings, as well as a hotel in Fort Lauderdale, Florida USA. The company owns a total of 169,000 square meters including both commercial and residential properties in Sweden.