Sponda Plc to publish segment data according to a new reporting structure from 2016
Sponda Plc
Stock Exchange Release
3 April 2017 at 9:05 a.m.
Sponda Plc to publish segment data according to a new reporting structure from 2016
Sponda’s interim report for January-March 2017 will be published on Friday 5 May 2017 according to the new financial reporting structure. The organisational change was announced in a stock exchange release on 21 November 2016.
From 1 January 2017, Sponda’s reporting segments are as follows: Office Properties, Shopping Centres, Property Development, Non-Strategic Holdings and the Other segment.
The Non-Strategic Holdings segment includes the remaining logistics properties, properties in Russia and the current Property Investment Companies segment. The Other segment includes expenses not allocated to any of the Group’s businesses.
The comparable figures according to the new segment division are presented in the tables below.
| 1-3/2016, MEUR | Office Properties | Shopping Centres | Property Development | Non-Strategic Holdings | Other | Group, total |
| Total revenue | 40.0 | 14.1 | 0.2 | 4.9 | 0.0 | 59.3 |
| Maintenance expenses and direct fund expenses | -11.6 | -3.0 | -0.5 | -2.2 | 0.0 | -17.2 |
| Net operating income | 28.4 | 11.1 | -0.2 | 2.8 | 0.0 | 42.1 |
| Profit on sales of investment properties | 0.2 | – | – | 0.0 | – | 0.2 |
| Loss on sales of investment properties | – | – | – | 0.0 | – | 0.0 |
| Profit/loss on disposal of associated companies | – | – | – | – | – | – |
| Profit/loss on trading properties | – | – | 12.5 | – | – | 12.5 |
| Valuation gains/losses on fair value assessment | 1.1 | 0.2 | 1.7 | -5.0 | – | -2.0 |
| Amortisation of goodwill | – | – | -0.6 | – | 0.0 | -0.6 |
| Administration and marketing | -3.0 | -0.9 | -1.1 | -0.6 | -0.1 | -5.7 |
| Other operating income and expenses | 0.1 | -0.1 | 0.0 | 0.1 | 0.2 | 0.3 |
| Operating profit | 26.7 | 10.3 | 12.3 | -2.7 | 0.1 | 46.7 |
| Investments | 166.3 | 427.9 | 12.1 | 0.2 | 0.0 | 606.6 |
| Segment assets | 2,168.6 | 1,161.7 | 154.6 | 262.0 | 151.7 | 3,898.6 |
| – of which classified as held for sale | 3.6 | – | – | 5.7 | – | 9.3 |
| Economic Occupancy Rate | 88.1 | 93.8 | – | 77.4 | – | 88.7 |
| 1-6/2016, MEUR | Office Properties | Shopping Centres | Property Development | Non-Strategic Holdings | Other | Group, total |
| Total revenue | 82.8 | 33.3 | 0.6 | 10.2 | 0.1 | 126.9 |
| Maintenance expenses and direct fund expenses | -22.3 | -7.2 | -1.2 | -4.0 | 0.0 | -34.6 |
| Net operating income | 60.5 | 26.1 | -0.6 | 6.2 | 0.1 | 92.3 |
| Profit on sales of investment properties | 0.2 | – | – | 0.2 | – | 0.4 |
| Loss on sales of investment properties | – | – | -0.4 | – | 0.0 | -0.4 |
| Profit/loss on disposal of associated companies | – | – | – | – | – | – |
| Profit/loss on trading properties | – | – | 12.5 | – | 0.0 | 12.5 |
| Valuation gains/losses on fair value assessment | 12.6 | 6.2 | 3.9 | -19.7 | – | 3.0 |
| Amortisation of goodwill | – | – | -1.3 | – | 0.0 | -1.3 |
| Administration and marketing | -5.7 | -1.9 | -2.1 | -1.3 | -0.4 | -11.4 |
| Other operating income and expenses | 0.1 | -0.1 | 0.1 | 0.1 | 0.2 | 0.5 |
| Operating profit | 67.6 | 30.3 | 12.2 | -14.5 | -0.1 | 95.6 |
| Investments | 171.2 | 430.1 | 24.3 | 1.8 | 0.0 | 627.5 |
| Segment assets | 2,185.0 | 1,177.1 | 159.6 | 247.1 | 143.0 | 3,911.8 |
| – of which classified as held for sale | 8.6 | – | – | 13.5 | – | 22.1 |
| Economic Occupancy Rate | 88.3 | 94.2 | – | 78.5 | – | 89.1 |
| 1-9/2016, MEUR | Office Properties | Shopping Centres | Property Development | Non-Strategic Holdings | Other | Group, total |
| Total revenue | 125.3 | 51.8 | 1.0 | 14.9 | 0.2 | 193.2 |
| Maintenance expenses and direct fund expenses | -31.7 | -10.7 | -1.7 | -5.4 | 0.0 | -49.5 |
| Net operating income | 93.6 | 41.1 | -0.6 | 9.6 | 0.1 | 143.8 |
| Profit on sales of investment properties | 0.2 | – | – | 1.2 | – | 1.4 |
| Loss on sales of investment properties | -0.1 | – | -0.4 | 0.0 | 0.0 | -0.5 |
| Profit/loss on disposal of associated companies | – | – | – | -0.1 | – | -0.1 |
| Profit/loss on trading properties | – | – | 13.3 | – | 0.0 | 13.3 |
| Valuation gains/losses on fair value assessment | 10.8 | -1.5 | 4.7 | -21.0 | – | -7.0 |
| Amortisation of goodwill | – | – | -2.1 | – | 0.0 | -2.1 |
| Administration and marketing | -8.3 | -2.8 | -3.0 | -1.9 | -0.3 | -16.4 |
| Other operating income and expenses | 0.0 | 0.0 | 0.0 | 0.1 | 0.2 | 0.3 |
| Operating profit | 96.2 | 36.8 | 11.9 | -12.1 | 0.1 | 132.8 |
| Investments | 176.8 | 431.6 | 41.0 | 2.1 | 0.1 | 651.7 |
| Segment assets | 2,183.9 | 1,170.9 | 176.7 | 232.6 | 80.7 | 3,844.8 |
| – of which classified as held for sale | 30.2 | – | – | 8.5 | – | 38.7 |
| Economic Occupancy Rate | 88.8 | 93.2 | – | 79.8 | – | 89.3 |
| 1-12/2016, MEUR | Office Properties | Shopping Centres | Property Development | Non-Strategic Holdings | Other | Group, total |
| Total revenue | 167.2 | 70.3 | 1.3 | 20.0 | 0.2 | 259.0 |
| Maintenance expenses and direct fund expenses | -43.1 | -15.5 | -2.2 | -7.3 | 0.0 | -68.0 |
| Net operating income | 124.1 | 54.8 | -0.9 | 12.7 | 0.1 | 190.9 |
| Profit on sales of investment properties | 0.7 | – | – | 1.2 | – | 2.0 |
| Loss on sales of investment properties | -0.1 | – | -0.4 | -0.7 | 0.0 | -1.1 |
| Profit/loss on disposal of associated companies | – | – | – | -0.1 | – | -0.1 |
| Profit/loss on trading properties | – | – | 14.6 | – | 0.0 | 14.6 |
| Valuation gains/losses on fair value assessment | 25.2 | 21.3 | 4.9 | -24.8 | – | 26.7 |
| Amortisation of goodwill | – | – | -3.1 | – | 0.0 | -3.1 |
| Administration and marketing | -11.5 | -4.0 | -4.2 | -2.6 | -0.5 | -22.8 |
| Other operating income and expenses | -0.1 | -0.2 | -0.4 | 0.1 | 0.2 | -0.4 |
| Operating profit | 138.4 | 72.0 | 10.5 | -14.1 | -0.1 | 206.7 |
| Financial income and expenses | -51.2 | -51.2 | ||||
| Profit before taxes | -51.3 | 155.5 | ||||
| Income taxes | -17.9 | -17.9 | ||||
| Profit/loss for period | -69.3 | 137.5 | ||||
| Investments | 187.1 | 433.3 | 60.7 | 4.3 | 0.3 | 685.6 |
| Segment assets | 2,203.8 | 1,195.4 | 196.0 | 226.7 | 94.5 | 3,916.5 |
| – of which classified as held for sale | 10.6 | – | 3.3 | 19.0 | – | 32.8 |
| Economic Occupancy Rate | 89.2 | 93.5 | – | 79.9 | – | 89.6 |
Sponda Plc
Further information:
Niklas Nylander, Chief Financial Officer, tel. +358 20 431 3480 or +358 40 754 5961
Pia Arrhenius, Senior Vice President, Corporate Planning and IR, tel. +358 20 431 3454 or +358 40 527 4462
Sponda Plc is a property investment company specialising in commercial properties in the largest cities in Finland. Sponda’s business concept is to own, lease and develop retail and office properties and shopping centres into environments that promote the business success of its clients. The fair value of Sponda’s investment properties is approximately EUR 3.8 billion and the leasable area is around 1.2 million m2.