Klövern AB (publ): Interim Report January – September 2013
Income increased by 15 per cent to SEK 1,630 million (1,423).
The operating surplus increased by 10 per cent to SEK 1,033 million (935).
Profit from property management increased by 12 per cent to SEK 476 million (426).
Changes in value of properties amounted to SEK -96 million (176), of derivatives to SEK 345 million (-133) and of financial assets to SEK 71 million (-2).
Net profit for the period amounted to SEK 632 million (378), corresponding to SEK 2.96 (1.79) per common share.
Taking possession of eleven properties for SEK 469 million and sale of eleven properties for SEK 364 million.
Acquisition of 29.4 per cent of the real estate company Tribona AB (publ). Tribona is reported as an associated company from 7 June 2013.
Klövern intends to conceptualise its business centre activities under a separate brand name: First Office.
Statement by the CEO
Focus on our core business
“There remain great challenges in the global economy. As in the second quarter, the Swedish economic recovery continues to be slow. The positive signals mainly come from the service sector where optimism has markedly increased recently. This is also the sector where most jobs are being created at present. We note a healthy demand for efficient office premises, not least from new service companies.
We have continued our focused letting work during the period. An example of this was that we signed a six-year lease contract with the County Administrative Board for modern office premises in Uppsala. This contract covers around 3,800 sq.m. and the total rent for the contract period is almost SEK 50 million. It is also the starting shot for the refurbishment of the former post office building Posthuset, adjacent to Uppsala travel interchange. It is important for Klövern to be able to participate in developing the central parts of Uppsala.
At the end of September, we also announced that we have signed a six-year lease contract with the Swedish Transport Agency in Örebro. In all, this contract covers 17,000 sq.m. with a total rent of around SEK 150 million, during the contract period.
Around 20% of Klövern’s contract value now comes from public sector tenants. It would, of course, be gratifying if we continue to increase this share.
As part of our ambition to raise our popular business centres to an even higher level, we intend to conceptualise this activity with its own brand name: First Office. By at the same time clarifying the breadth of our geographic presence – we have 50 business centres in 17 cities – and adding new services, we expect to attract tenants to an even greater extent.
In summary it has again been a quarter of consolidation with the focus on
our core business.”
Nyköping, 23 October 2013
Klövern AB (publ)
For further information, please contact:
Rutger Arnhult, CEO, +46 70-458 24 70, email@example.com
Lars Norrby, IR, +46 76-777 38 00, firstname.lastname@example.org
Klövern is a real estate company committed to working closely with customers to offer them efficient premises in Swedish growth regions. As at 30 September 2013, the value of the properties totalled approximately SEK 23.2 billion and the rental income on an annual basis was around SEK 2.5 billion. The Klövern share is listed on Nasdaq OMX Stockholm Mid Cap.
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: kelly.corem.se email@example.com
This information is such that Klövern AB (publ) is obliged to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. The information was made available for publication on 23 October 2013.