Welcome to a new, exciting year with Fastator!
It is now nearly five years since we launched our company. From modest beginnings, we have built up a business which is listed on the Stock Exchange and that has an unprecedented return on equity. As of 30 September, the net asset value was MSEK 521 (384.5) – an increase of approximately 36 percent since the year-earlier period. Net asset value per share has increased by approximately 24 percent, from SEK 29.86 to SEK 37.02. And this has happened in a property market that is often considered to be very conservative and “sluggish”!
It has been an exciting and successful journey with an increasing number of shareholders; many new ones joined when we acquired the environmental engineering company Rehact AB, in conjunction with Fastator being listed on Nasdaq First North in the autumn of 2015. Today, we have more than 1,100 shareholders who can share in the delight of our success.
As CEO, I would like to summarise and comment on our developments in this letter, in a more personal way, than in our official notices.
Our business concept is a success
We are not a typical “property company”, unlike all the other companies in the sector; we are the only listed company that is a property investment company. Our unique business concept is, simply speaking, to help qualified entrepreneurs by investing as partners in their property companies. As an investment company, we have quick trading methods when it comes to our holdings, for example, divesting or replacing parts of them, increasing shares or merging with other companies. We have a mobility and a capacity for action which makes Fastator interesting to both investors and entrepreneurs in the property sector alike, who are looking for a partner with knowledge and capital to be able to grow profitably.
For you as a shareholder in Fastator, this gives you unique access and your “own key” to attractive investment objects in the property market.
Today, Fastator AB has a broad portfolio mix. First and foremost, it comprises streamlined property companies in the commercial property market, but also those that are known as “community service properties” and companies who create innovative, digital services for the rental market. In other words, we have a healthy diversification of risk.
We invest in both listed and unlisted companies with an international reach and concentrate on a shareholding that lies between 10 and 50 percent. On average, we invest at least MSEK 50 in each company.
Fastator is growing
Our goal is to broaden our portfolio by investing in traditional, as well as, new types of companies in the property market. 2017 is going to be a year of many interesting transactions, and work on this is already underway.
As a shareholder, you will be able to follow us on our journey to become the property market’s leading investment company via our press releases, our website and this CEO letter, but you are also very welcome to visit our forthcoming shareholder presentations!
If you have any questions about Fastator, I would be happy to hear from you.
Joachim Kuylenstierna, CEO
+46 70-515 51 51
Events during the last six months of the year – some examples from our press releases
Our associated company Konland sold two properties on Kungsholmen. The underlying value of the property exceeded the market valuation by approximately MSEK 33.
We divested an industrial and logistics property in Skåne. Return on equity after two years: 654 percent.
We entered the student and temporary housing sector and bought a property comprising 725 student apartments in Southwest Sweden for a total of MSEK 108 together with our UK partners.
We acquired 100 % of the shares in Nordic PM, who manages 125 properties from Luleå in the North to Malmö in the South. The total area of the properties is: 1,100,000 sqm. Due to the acquisition, we can realise synergies with our other holdings.
Fastator issued a corporate bond to a value of MSEK 250 with an 8.5 percent interest rate. The bond is traded on Nasdaq and greatly increased the acquisition capability.
October – November 2016
We acquired 25 % of the fintech company MDG, that develops digital services for properties.
We carried out two investments in the property company Portvakten Industrifastigheter for approximately MSEK 75 in total. The company has enjoyed rapid growth in the Öresund region.
The undersigned was appointed CEO from year-end. Co-founder of Fastator with several years’ experience of property transactions.
Svante Bengtsson, who holds an MBA with broad business experience, was appointed