Subject: ACC
Valuation of D. Carnegie & Co's Property Portfolio will have Positive Impact on Q2 2018 Earnings
STOCKHOLM, July 11, 2018 /PRNewswire/ -- D. Carnegie & Co has, in line with its approach historically, had Savills perform a market valuation of 100% of the company's property portfolio as per 30 June 2018. D. Carnegie & Co's continued comprehensive, value-creating investment program, progress on its building rights, and the increasingly strong investor interest in Swedish residential assets, have resulted in an increased valuation of D. Carnegie & Co's property portfolio. This has led to a positive impact of approximately SEK 1.8 billion on the pre-tax profit in the second quarter of 2018.
"The valuation increase is a result of the strong investor interest in Swedish residential properties from both domestic and international investors, our continued focus on securing building rights across our portfolio, and our proven renovation model and capital spend leading to the company's third-party valuer increasingly recognising the value-accretive nature of these investments.
"As the value gain is significant, we choose to inform the market of this positive effect prior to the release of the second quarter report on 13 July," says D. Carnegie & Co's VD Svein-Erik Lilleland.
This information is information that D. Carnegie & Co AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8.30 p.m. CEST on 11 July 2018.
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For more information, please contact: Svein Erik Lilleland, CEO, Telephone: +46 (0) 8 121 317 25, E-mail: [email protected]
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