Interim Report January – September 2006

2006-10-26

  •         Income totalled SEK 589 million (467)
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  •         Net profit for the period increased to SEK 427 million (267)
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  •         Earnings per share increased to SEK 3.55 (2.34)
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  •         SEK 204 million (127) of the profit consists of changes in value of properties
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  •         Klövern has signed an agreement for acquisition of properties in Kista and Täby for a total of SEK 4 billion
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  •         The full-year forecast is being adjusted upwards; profit before tax is  expected to exceed SEK 300 million excluding changes in value of properties. Previous forecast was SEK 250 million 
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    Statement by CEO
     
    Increased profit and continued expansion in Business and Science Parks
    “Demand for premises has continued to be high during the third quarter of the year. We have noted the highest net new letting ever, especially educational premises which account for over a third of the quarter’s total net new letting. The process with the property acquisitions in Kista and Täby for approximately SEK 4 billion are proceeding according to plan and are expected to be completed during the fourth quarter. Klövern’s ambition in Kista and Täby is the same as in other markets; to contribute to the development of the local business sector. Through these acquisitions, we strengthen our role as partner of companies and organisations that look for an environment in Business and Science Parks that promotes development”, says Klövern’s CEO Gustaf Hermelin.
     
    Earnings
    Net profit for the period totalled SEK 427 million (267). This improvement is mainly due to a considerably larger portfolio of properties and an increase in unrealised changes in value. The profit includes realised changes in value from property sales at SEK 24 million (19) and unrealised changes in value of properties at SEK 179 million (107). Net financial income was SEK -97 million (-125), of which changes in financial instruments and securities amounted to SEK 19 million (-6).
     
    Nyköping 26 October 2006
     
    Klövern AB (publ)
     
    For further information, please contact:
    Gustaf Hermelin, CEO, tel +46-(0)155-44 33 10, +46-(0)70-560 00 00, gustaf.hermelin@staging-wwwklovernse.wp4.triggerfish.cloud
    Anders Lundquist, CFO, tel +46-(0)155-44 33 20, +46-(0)70-528 43 33, anders.lundquist@staging-wwwklovernse.wp4.triggerfish.cloud
    Britt-Marie Einar, Corporate Communications Officer, tel +46-(0)155-44 33 12, +46-(0)70-224 29 35,
    britt-marie.einar@staging-wwwklovernse.wp4.triggerfish.cloud
     
    Klövern AB (publ), Box 1024, SE-611 29 Nyköping, Sweden. Tel +46-(0)155-44 33 00, Fax +46-(0)155-44 33 22.        Company registration no. 556482-5833. Registered office: Nyköping. Website: www.staging-wwwklovernse.wp4.triggerfish.cloud