Strong income from property management
Klövern is reporting a strong result in operating activities. Income from property management amounted to + SEK 355 million in 2008. Income increased during the year. The income statement is also affected by items which do not affect the cash flow such as negative changes in value of both properties and derivatives.
Klövern’s CEO Gustaf Hermelin is optimistic about the future and is raising the forecast. The result for 2009 is expected to exceed 2008’s result by a broad margin.
“Low interest rates, a high occupancy rate and potential in vacant spaces means that the conditions are good for an improvement in the result in 2009”, says Klövern’s CEO Gustaf Hermelin.
Nyköping 13 February 2009
Klövern AB (publ)
For further information, please contact:
Gustaf Hermelin, CEO, tel +46 155-44 33 10, +46 70-560 00 00, firstname.lastname@example.org
Caesar Åfors, CFO and vice President, tel +46 155-44 33 02, +46 70-662 48 48, email@example.com
Britt-Marie Einar, Finance and Information Manager, tel +46 155-44 33 12, +46 70-224 29 35,
Klövern is a real estate company committed to working closely with customers to meet their needs of premises and services in Swedish growth regions. Klövern has business units in ten cities: Borås, Karlstad, Kista, Linköping, Norrköping, Nyköping, Täby, Uppsala, Västerås and Örebro. As at 31 December 2008, the value of the properties totalled approximately SEK 11.9 billion and the rental value on an annual basis was approximately SEK 1.4 billion. The Klövern share is listed on Nasdaq OMX Nordic Exchange in Stockholm for medium-sized companies.
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