Wästbygg Group enters a letter of intent for the divestment of the project development operations within the Residential business area and adjusts its financial target Operating margin
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Small Cap Stockholm |
| Sektor | Fastigheter |
| Industri | Projektering |
Wästbygg Gruppen AB (publ) has issued a letter of intent for the divestment of the project development operations within the Residential business area. Due diligence process and further contract negotiations will begin immediately.
This strategic initiative increases the group's focus and more effectively allocate capital toward the development of commercial buildings and logistics properties, projects that typically delivers higher margins than residential building and which are areas in which the company has extensive experience.
Due to the group’s reduced focus on self-developed residential projects the Wästbygg Group’s Board of Directors has announced that the group’s financial target Operating margin will be adjusted to 5 percent over time.
……………………….
For more information, please contact:
Jonas Jönehall, CEO
Tel: +46 73 920 19 01, Email: jonas.jonehall@wbgr.se
Robin Sundin, COO
Tel: + 46 72 529 30 04, Email: robin.sundin@wbgr.se
……………………….
About Wästbygg Group:
The Wästbygg Group is a listed construction and project development company that builds and develops residential, commercial buildings and community service properties, as well as logistics and industrial. The group comprises Wästbygg AB, Rekab Entreprenad AB and Logistic Contractor AB.
The group operates in the most expanding markets in Sweden and within Logistic Contractor also in the neighboring Nordic countries. In 2023, the group had sales of SEK 4.8 billion and 550 employees.