November 17, 2015
The Board of Directors of Pioneer Property Group ASA has
approved the unaudited group financial results for the third
quarter and first nine months of 2015. See the attached
document
including the report and financial figures.
Key highlights of the Q3/2015 report:
- Pioneer Property Group ASA's ("PPG") third quarter 2015
financial results represent the full first operational
quarter since the formation of the group 12th May 2015.
- Total revenues in the quarter were MNOK 51.1 and with a
pre-tax profit of MNOK 18.2.
- Revenues and profitability were in line with expectations,
and profitability was significantly improved from the second
quarter, which was heavily impacted by IPO-related costs.
- On 30th September, PPG paid a dividend to holders of
preference shares - in total NOK 2.74 per preference share.
From Q4 and onwards, the Company has an ambition of regular
dividend payments, in line with PPG's articles of
association - equivalent to NOK 1.875 per preference share
per quarter.
- The Company had total assets of MNOK 3,708, where
Investment Property (112 preschools) were valued at MNOK
3,413 and with a cash balance of MNOK 211. Total debt was
MNOK 2,097 and total equity of MNOK 1,610.
Contact persons:
Runar Rønningen (CEO) - tlf 90690038
Martin P. Hoff (CFO) - tlf 47214721