Klövern: Interim Report, January – June 2005

2005-08-17

  • Rental revenues amounted to SEK 302 million (212)
  • Net profit for the period increased to SEK 164 million (84)
  • Earnings per share increased to SEK 1.47 (1.08) 
  • Klövern’s expansion is continuing – properties were acquired during the period for SEK 1,406 million (342)

  • Profit
    Net profit for the period was SEK 164 million (84). The result includes realised changes in value from property sales of SEK 10 million (20) and unrealised changes in the value of properties of SEK 69 million (9). Net financial items amounted to SEK -75 million (-60).
     
    Cash flow and financial position
    The cash flow amounted to SEK 54 million (-12). The equity ratio at the end of the period was 34.8 per cent, in comparison with 36.9 per cent at the beginning of the year. Shareholders’ equity was SEK 2,049 million, in comparison with SEK 1,701 million at the beginning of the year. Liquid funds were SEK 164 million (110) and interest-bearing liabilities were SEK 3,545 million (2,703).
     
    Rental revenues and property costs
    Rental revenues amounted to SEK 302 million (212) during the period, property costs were SEK 117 million (84) and the operating surplus amounted to SEK 185 million (128).
     
    Second quarter 2005
    Net profit for the second quarter was SEK 122 million (55). The result includes realised changes in value from property sales of SEK 5 million (18) and unrealised changes in the value of properties of SEK 69 million (5). The operating surplus was SEK 103 million (68), net financial items SEK -40 million (-29) and the cash flow was SEK -45 million (-32).
     
    Operations
    Klövern is a real-estate company that acquires, develops and sells high-yielding properties in large and medium-sized towns outside major city regions.
     
    Market and property holdings
    The rental levels in Klövern’s markets have generally remained unchanged during the first half of the year. There has been some increase in the number of letting enquiries, in particular in retail and education. New lettings, during the second quarter, mainly small companies in the commercial and services sector, account for approximately SEK 5 million.
     
    Calendar
    Interim report January-September 2005             Wednesday, 2 November
    Annual Accounts Bulletin for 2005                    Wednesday, 8 February 2006
     
     
    Reports are available on Klövern’s website www.staging-wwwklovernse.wp4.triggerfish.cloud, where it is also possible to subscribe to annual reports, interim reports and press releases.
     
    Nyköping, 17 August 2005
    Klövern AB (publ)
     
    Gustaf Hermelin
    CEO
     
    This interim report has not been subject to examination by the Company’s auditors.
     
     
    The full report including tables can be downloaded from the following link: