The 2020/21 financial statements for Stensdal Group are the group's best with a profit of DKK 188 million before tax. Among other things, the strategy of developing properties for its own portfolio is now reflected in the financial statements.
In the period October 1, 2020 - September 30, 2021, Stensdal Group realized a turnover of DKK 139.2 million compared to DKK 126.4 million the year before. Profit for the year amounted to DKK 188.5 million before tax compared to DKK 35.5 million the year before, and profit after tax was DKK 148.1 million compared to DKK 32.4 million the year before. The result is described as highly satisfactory.
The book equity is calculated at DKK 514.5 million compared to DKK 366.5 million in 2019/20, while the balance sheet has increased from DKK 921 million to DKK 1,123.5 million.
The Group continuously develops its properties in the form of construction, renovation, improved rental, etc. which results in significant value creation. The profit for the year includes value adjustments of investment properties of DKK 140.6 million. Of this, DKK 19.7 million is due to changes in the required rate of return on individual properties, while the remaining DKK 120.9 million directly reflects the values created in the development process.
"These financial statements reflect, among other things, that we are seriously executing on the part of our strategy that is about developing and operating residential properties. The development of a total of 178 townhouses for rent in Ammendrup Park in Helsinge is the first step towards building a residential property portfolio to complement our portfolio of commercial properties. We expect the residential part to be one of the mainstays of the group going forward," says CEO Søren Stensdal.
Stensdal Group owns and operates a portfolio of more than 130,000 m2 of commercial leases in Greater Copenhagen. The year was also characterized by improvements and maintenance of these properties to maintain the special Stensdal style, and the Group acquired the former Danish headquarters of the pharmaceutical company Roche during the financial year.
In addition to the growing portfolio of investment properties, the group has several interesting development projects that are expected to materialize in the coming years.
In addition to real estate-related activities, the Group is also engaged in investing in companies, the most significant of which are a majority shareholding in the international marketing agency and SaaS company Anthill Agency A/S and a 50% stake in the parking company ParkZone A/S. Both companies are performing well and are experiencing a strong positive development.
Stensdal Group is stronger than ever, and Søren Stensdal also sees great potential for the future:
"Of course, I'm both pleased and proud that we as a group can achieve such a strong result. At the same time as we are growing in a controlled manner, we have managed to further increase our equity ratio from an already good 39.8% in the previous financial year to 45.8%. All things being equal, this provides an investment capacity that will open up more exciting opportunities for us in the coming year. At the same time, we are continuously strengthening the organization so that the foundation for a positive development is in place in this regard as well."
ABOUT STENSDAL GROUP A/S:
Stensdal Group A/S has been developing and investing in real estate for more than 30 years. We own and lease a portfolio of more than 130,000 m2 of office and logistics properties in Greater Copenhagen and develop both residential and commercial real estate projects. In addition, we invest in a number of other companies outside the real estate industry.