Klövern Interim report January-March 2010

2010-04-20

  • Income amounted to SEK 306 million (317)
  • Profit from property management amounted to SEK 91 million (118), corresponding to SEK 0.57 per share (0.73)
  • Net profit for the period amounted to SEK 26 million (-44), corresponding to SEK 0.16 per share (-0.27)
  • Equity amounted to SEK 4,138 million (4,112), corresponding to SEK 25.7 per share (25.6)
  • Property value totalled SEK 12,014 million (12,032), corresponding to SEK 74.7 per share (74.8).

Statement by the CEO

After the winter comes the spring …
“Klövern is reporting stable rental income for the first quarter of 2010, which is a strong result, bearing in mind the still weak state of the economy. Customer losses have to date been lower than for the corresponding period last year. The payment capacity of tenants remains good. Delayed rent payments are not greater today than they were before the financial crisis.

 

Klövern has succeeded in entering into a number of large new lease contracts during the first quarter of 2010. Among the larger leases is a fifteen-year lease with the Municipality of Norrköping’s cinema Cnema at the property Kopparhammaren 7 in Norrköping Science Park. It feels fantastic to participate in raising the former industrial landscape in Norrköping to a new dimension.

Property costs for the first quarter were unusually high since for once there was a real winter in Central Sweden. Committed work with snow and ice clearance on and around the properties, high electricity prices and the fact that we have a lot of square metres in relation to the property value contributed to property costs being SEK 20 million higher than in a normal year”, says Klövern’s CEO Gustaf Hermelin.

Nyköping, 20 April 2010

Klövern AB (publ)

For further information, please contact:

Gustaf Hermelin, CEO, tel +46 155-44 33 10, +46 70-560 00 00, gustaf.hermelin@staging-wwwklovernse.wp4.triggerfish.cloud

Caesar Åfors, CFO and vice President, tel +46 155-44 33 02, +46 70-662 48 48, caesar.afors@staging-wwwklovernse.wp4.triggerfish.cloud

Britt-Marie Einar, Finance and Information Manager, tel +46 155-44 33 12, +46 70-224 29 35, britt-marie.einar@staging-wwwklovernse.wp4.triggerfish.cloud

 

Klövern is a real estate company committed to working closely with customers to meet their needs of premises and services in Swedish growth regions. Klövern has business units in ten cities: Borås, Karlstad, Kista, Linköping, Norrköping, Nyköping, Täby, Uppsala, Västerås and Örebro. As at 31 March 2010, the value of the properties totalled approximately SEK 12 billion and the rental value on an annual basis was SEK 1.4 billion. The Klövern share is listed on Nasdaq OMX Nordic Exchange in Stockholm, medium-sized companies.

 

Klövern AB (publ), Box 1024, SE-611 29 Nyköping, Sweden. Tel +46 155-44 33 00, Fax +46 155-44 33 22.

Corporate registration no. 556482-5833. Registered office: Nyköping. Website: www.staging-wwwklovernse.wp4.triggerfish.cloud.