Strong increase in earnings for Klövern

“Targeted work in the local market has produced improvements in earnings in particular in the geographical units Borås, Karlstad, Linköping and Norrköping, says Klövern’s CEO Gustaf Hermelin. “We are continuing our active acquisition, letting and sales work and are convinced that this will contribute to Klövern showing a positive earnings trend in the future as well.”

 

Klövern’s expansion has continued by the establishment of two new geographical units in Borås and Västerås during the year. Up until the beginning of August, Klövern has acquired properties for more than SEK 1.2 billion. At the same time, properties at non-prioritised locations and a number of developed properties have been sold with a gain of SEK 26 million.

 

Nyköping, August 20, 2004

 

 

Gustaf Hermelin, President and CEO, tel +46 155-44 33 10, +46 70-560 00 00,

Anders Lundquist, Chief Financial Officer, tel +46 155-44 33 20, +46 70-528 43 33, anders.lundquist@klovern.se

Britt-Marie Einar, Information Manager, tel +46 155-44 33 12, +46 70-224 29 35,

 

 

 

 

 

 

Enclosed: Interim Report January – June 2004

 

 

Klövern is a listed real estate company active in the Swedish real estate market by acquiring, developing and disposing of properties with a focus on a high return on equity. As at 2 August 2004, the book value of the properties totals approximately SEK 4.0 billion and the rental income on an annual basis is approximately SEK 500 million. The Klövern share is listed on the Stockholm stock exchange, Stockholmsbörsen’s O list Attract 40.

 

Klövern AB (publ), Box 1024, SE-611 29 Nyköping, Sweden