Please see a summary of the highlights from the quarterly report below as well as the full report here, which is also available on our website: www.jefast.se
Period Jan-March 2020
- Revenue amounted to 80.5 MSEK (88.7)
- Operating profit amounted to 4.1 MSEK (20.2)
- Net loan to value amounted to 59.7 % (66.6)
- The interest coverage ratio amounted to 1.4 x (1.6)
- Property value amounted to 2,670 MSEK (3,161)
Events in the reporting period Jan-March 2020
- The loan for the hotel business in Florida was refinanced during the first quarter
- Three condominium units were acquired during the first quarter at the hotel business
- The COVID-19 pandemic spread around the world which will have an impact on the company’s revenue and result
- The hotel business was temporarily closed on April 6th and most of the employees were furloughed
- Financial aid packages from the American Government has been received
- Several initiatives and discussions with tenants in the Swedish business is taking place
- The ongoing development of the pandemic and its impact on our operations are continuously evaluated
Events after the reporting period
- Reopening of Pelican Grand took place on May 28th
- Five new commercial lease agreements were signed with an annual revenue of approximately 3 MSEK and average lease term of 4.6 years
For further information, please contact:
Cassandra Jertshagen, CEO
Tel. +46 42 36 12 01
E-mail: cassandra@jefast.se
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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 17:00 CET on 29 May 2020.
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