Klövern Year-end report 2009

2010-02-19

  • Income increased to SEK 1,254 million (1,220)
  • Profit from property management increased by 39 per cent to SEK 493 million (355), corresponding to SEK 3.07 per share (2.17). Profit from property management was forecasted to amount to at least SEK 490 million
  • Net profit amounted to SEK 237 million (-476), corresponding to SEK 1.48 per share (-2.92)
  • Property value totalled SEK 12,032 million (11,895)
  • The Board of Directors is recommending a dividend of SEK 1.25 per share (1.00).

Statement by the CEO

Sharp increase in profit
“Klövern has achieved a sharp improvement in profit from property management during 2009. While this can be explained to a large extent by the extremely low level of interest rates, Klövern’s low risk profile and dedicated personnel are also important contributory factors. To date, Klövern has not been particularly greatly affected by the downturn, which has left its mark on the general state of the economy. The occupancy rate fell marginally at the start of the year, rental levels are stable and property values are holding up, which is shown not least by the property sales carried out by Klövern during the year.

Future years will undoubtedly be tough from the point of view of the business cycle. However, Klövern’s good foundations provide a basis for further value-creating investments in existing and new properties during 2010. The downturn can give rise to exciting new business opportunities where Klövern can play a part in creating the communities of the future”, says Klövern’s CEO Gustaf Hermelin.

Nyköping, 19 February 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/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 December 2009, 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.