Klövern: Interim Report January – March 2006

Rental income amounted to SEK 182 million (139)

 

Net profit for the period increased to SEK 183 million (42)

 

Earnings per share increased to SEK 1,52 (0.39)

 

SEK 125 million of the profit consists of changes in value of properties (4)

 

The full-year forecast is maintained: net profit is expected to exceed SEK 250 million excluding changes in the value of properties 

 

 

Unrealised changes in value of properties account for as much as SEK 112 million of Klövern’s profit during the first quarter. The explanation for this increase is not only decreasing required return but, to a great extent also new letting.

 

“It is extremely gratifying that it is largely our own work of letting and improvement that is contributing to the change in value of the properties and thus also profit”, says Klövern’s CEO Gustaf Hermelin.

 

Klövern has noted a clear increase in demand in all geographic market segments during the first quarter of 2006. This increase is a good sign for the rest of the year and gives hope that the positive net letting that has taken place since the first quarter of 2005 will continue for the rest of 2006. Rental levels are also showing an upward trend, in particular for retail premises.

 

Interim Report January – June 2006               Thursday, 20 July

Interim Report January – September 2006     Thursday, 26 October

 

Reports are available on Klövern’s website kelly.corem.se, where it is also possible to subscribe to annual reports, interim reports and press releases.

 

Nyköping, 27 April 2006

 

Gustaf Hermelin

CEO

 

This interim report has not been subject to scrutiny by auditors.

 

 

The full report including tables can be downloaded from the following link: