16 February 2016
The Board of Directors of Pioneer Property Group ASA has
approved the unaudited group financial results for the
fourth quarter and the full year 2015. See the attached
document including the report and financial figures.
Highlights of the Q4 report:
- Total revenues in the fourth quarter of 2015 were MNOK
50.8 with a pre-tax profit of MNOK 28.9.
- Revenues and profitability were in line with expectations.
Operating profit (EBIT) of MNOK 44.4 was similar to the
previous quarter, while pre-tax profit of MNOK 28.9 was
improved due to lower financial costs.
- On December 31st PPG paid is quarterly dividend to holders
of preference shares - in total NOK 1.875 per preference
share. The next scheduled dividend for preference
shareholders is at the end of the first quarter 2016. See
the company's website for updated financial calendar
information.
- The Company had total assets of MNOK 3,619, where
Investment Property (112 preschools) were valued at MNOK
3,413 in addition to a cash balance of MNOK 195. Total debt
was MNOK 1,981 and with total equity of MNOK 1,638.
- In the fourth quarter PPG commissioned a valuation report
from Newsec, which confirmed the balance sheet valuations of
the Investment Properties.
Contact persons:
Runar Rønningen (CEO) - tlf +47 90690038
Martin P. Hoff (CFO) - tlf +47 47214721