Year-end Report January – December 2021

2022-02-24

On 29 March 2021, Corem Property Group AB (publ) announced a public offer to the shareholders of Klövern AB (publ). In June 2021, the offer was declared unconditional, after which Klövern’s shares were delisted from Nasdaq Stockholm in July 2021. Klövern is a subsidiary of Corem Property Group since 15 June 2021.

  • Income amounted to SEK 3,274 million (3,294).
  • Profit from property management amounted to SEK 1,245 million (1,269).
  • Profit before tax amounted to SEK 5,194 million (2,467) and net profit, attributable to the parent company’s shareholders, totalled SEK 3,934 million (1,908).
  • Investments amounted to SEK 2,450 million (2,376).
  • Changes in value of properties amounted to SEK 3,685 million (1,322).
  • The interest coverage ratio amounted to 2.6 (2.5), leverage to 51 per cent (50) and the equity ratio to 37.2 per cent (36.3).

EVENTS DURING THE FOURTH QUARTER

  • In November, Corem and ALM Equity signed a letter of intent to investigate the conditions for creating a joint company, whose purpose is to develop efficient and climate-smart rental housing for own management. The joint company is planned to include both existing investment properties and building rights for future development of an estimated 24,000 homes.
  • As of 31 December 2021, 9 properties classified as current assets have been reclassified as investment properties.

Klövern AB (publ)

For additional information, please contact:
Eva Landén, CEO, +46 8 503 853 33, eva.landen@corem.se
Lars Norrby, IR, +46 76 777 38 00, lars.norrby@corem.se

Klövern AB (publ). Phone: +46 10 482 70 00. Email: info@klovern.se.

This information is information that Klövern AB is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication through the agency of the contact persons set out above at 08:00 CET on 24 February 2022.

This interim information has been published in Swedish and in English. In the event of a discrepancy between the language versions, the Swedish version shall take priority.

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Latest modified: 2022-02-24