Klövern AB (publ): Year end report 2003

 

Rental revenues amounted to SEKm 322 (96)

 

Net profit for the year excl. items affecting comparability and tax amounted to SEKm 87 (23)

 

Profit after taxes amounted to SEKm 87 (210)

 

Earnings per share excl. items affecting comparability and tax amounted to SEK 1.65 (1.61)

 

Earnings per share amounted to SEK 1.65 (13.98)

 

The Board of Directors proposes a dividend of SEK 0.50 per share (0).

 

For the period January – December, profit after taxes amounted to SEKm 87 (210). The result for the corresponding year-ago period, excl. positive items affecting comparability due to the restructuring of Adcore in an amount of SEKm 143 and a positive outcome of tax issues in an amount of 44 SEKm, was SEKm 23. Gains on sales of properties were SEKm 19 (0) of the profit. The operating surplus was SEKm 189 (61). Net financial items were SEKm – 103 (-34).

 

The cash flow amounted to SEKm 148 (-15). The equity ratio at the end of the period stood at 26.9 percent (23.4), equivalent to 28.4 (25.6) after full conversion. Shareholders’ equity was SEKm 908 (522) liquid funds were SEKm 211 (63) and interest-bearing liabilities were SEKm 2,316 (1,552).

 

Rental revenues amounted to SEKm 322 (96) for the period January – December 2003 and property costs amounted to SEKm 133 (35), making the operating surplus SEKm 189 (61).

 

A total of fifteen properties where sold for a total of SEKm 204 (0), resulting in capital gains of SEKm 19 (0).

 

For the period October – December, profit after taxes amounted to SEKm 24 (53). The result for the corresponding year-ago period was affected by a positive outcome of tax issues in an amount of 44 SEKm. Gains on sales of properties account for SEKm 3 (0) of the profit. The operating surplus was SEKm 60 (30). Net financial items were SEKm – 32 (-18).

 

Annual Report 2003,  March

Annual General Meeting 2004 in Nyköping,  Wednesday April 21    

Interim Report January – March 2004,  Wednesday May 5

Interim Report January – June 2004,  Friday August 20

Interim Report January – September 2004,  Wednesday November 3

 

Reports are available at Klövern’s Website, kelly.corem.se, where visitors may also subscribe to interim reports and press releases.

 

This year end report has not been subject to examination by the Company’s auditors.

 

Nyköping, February 12, 2004

Klövern AB (publ)

Board of Directors

 

 

The full report including tables can be downloaded from the enclosed link.