Klövern: Interim Report, January – September 2005

Rental revenues amounted to SEK 467 million (339)

Net profit for the period increased to SEK 267 million (137)

Earnings per share increased to SEK 2.34 (1.57) 

Klövern’s offensive continues – property acquisitions during the period totalled SEK 1,509 million (1,310) and property sales SEK 504 million (193)

 

Net profit for the period was SEK 267 million (137). The result includes realised changes in value from property sales of SEK 19 million (20) and unrealised changes in the value of properties of SEK 107 million (18). Net financial items amounted to SEK -119 million (-94).

 

The cash flow amounted to SEK -1 million (87). The equity ratio at the end of the period was 36.8 per cent, in comparison with 36.9 per cent at the beginning of the year. Shareholders’ equity was SEK 2,153 million, in comparison with SEK 1,701 million at the beginning of the year. Liquid funds were SEK 109 million (110) and interest-bearing liabilities were SEK 3,407 million (2,703).

 

Rental revenues amounted to SEK 467 million (339) during the period, property costs were SEK 175 million (126) and the operating surplus amounted to SEK 292 million (213).

 

Net profit for the third quarter was SEK 103 million (53). The result includes realised changes in value from property sales of SEK 9 million (0) and unrealised changes in the value of properties of SEK 38 million (9). The operating surplus was SEK 108 million (85), net financial items SEK -44 million (-34) and the cash flow was SEK -55 million (100).

 

Klövern is a real-estate company that acquires, develops and sells high-yielding properties in large and medium-sized towns outside major city regions. Rental levels in Klövern’s markets have been generally unchanged since the beginning of 2005. There has been a continuous increase in the number of rental enquiries during the year. New letting, net, in the third quarter totals SEK 5 million.

 

Year end Report for 2005        Wednesday 8 February, 2006

Annual Report 2005                 March 2006

Annual General Meeting 2006  Wednesday 5 April, 2006

 

 

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, 2 November 2005

Klövern AB (publ)

 

Gustaf Hermelin

CEO

 

We have briefly reviewed this interim report according to the recommendation issued by FAR (the institute for the accountancy profession in Sweden). A review is considerably more limited in scope compared with an audit. Nothing has come to our attention which causes us to believe that this interim report does not comply with the requirements of the stock exchange and annual accounts legislation.

 

Stockholm, 2 November 2005

Ernst & Young AB

 

Björn Fernström

Authorized Public Accountant

 

 

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