KLÖVERN: Year end report 2004
2005-02-09
Profit
Net profit for the year amounted to SEKm 193 (87). The result includes gains from property sales of SEKm 40 (19) and recalculation of deferred tax claim of SEK 31 million (0). The operating surplus was SEKm 286 (189) and net financial items were SEKm -129 (-103).
Cash flow and financial position
The cash flow amounted to SEKm -100 (148). The equity ratio at the end of the year was 36.0 per cent, in comparison with 28.4 per cent in the beginning of the year. Shareholders’ equity was SEKm 1,631 in comparison with SEKm 908 in the beginning of the year. Liquid funds were SEKm 111 (211) and interest-bearing liabilities were SEKm 2,703 (2,316).
Revenue and property costs
Rental revenues amounted to SEKm 485 (323) for the year, property costs amounted to SEKm 199 (133) and operating surplus to SEKm 286 (189).
Property sales
During the year 20 properties (15) were sold for a total of SEKm 347 (185) with a total gain of SEKm 40 (19). The properties sold, consisting of approximately 54,000 sq.m., are situated in Bollnäs, Borgholm, Borås, Enköping, Falun, Kalmar, Karlskrona, Linköping, Torsby, Uppsala, Västerås och Örebro.
Fourth quarter of 2004
Profit after financial items amounted to SEKm 39 (24). Gains on sales of properties account for SEKm 14 (3). The operating surplus was SEKm 73 (60) and net financial items were SEKm -35 (-32). The cash flow amounted to SEKm -168 (-19). The revenue for the quarter includes one-off payments from vacating tenants of around SEKm 9. Measures at vacant areas for future lettings have led to increased repair and maintenance costs of approximately SEKm 10.
Calendar 2005
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Annual Report 2004
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March
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Annual General Meeting
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Wednesday April 13
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Interim Report January – March 2005
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Tuesday May 3
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Interim Report January – June 2005
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Wednesday August 17
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Interim Report January – September 2005
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Wednesday November 2
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Reports are available at Klövern’s website, kelly.corem.se , where visitors may also subscribe to annual reports, interim reports and press releases.
Nyköping, February 9, 2005
Klövern AB (publ)
Board of directors
The full report including tables can be downloaded from the following link: