Interim Report January - March 2012
(Thomson Reuters ONE) -
* Income increased by 19 per cent to SEK 399 million (334)
* Operating surplus increased by 27 per cent to SEK 242 million (191)
* Profit from property management increased by 1 per cent to SEK 98 million
(97)
* Changes in value of properties totalled SEK 53 million (112) and changes in
value of derivatives to SEK 91 million (65)
* Net profit for the period amounted to SEK 175 million (199), corresponding
to SEK 0.91 per common share (1.24) and SEK 2.50 per preference share (-)
* Klövern acquired the property company Dagon AB (publ) on 2 March 2012
* Klövern has issued preference shares as part payment of the acquisition of
Dagon and as a bonus issue to shareholders in Klövern. At the end of the
period equity amounted to SEK 5,923 million (4,740).
Statement by the CEO
Full speed ahead with integration
"On 2 March, Klövern acquired the listed company Dagon and we are now making
swift progress with the work of integration. After an initial survey, we will
map the road ahead and move on to implementation. With Dagon Klövern is
expanding from a property value of just over SEK 15 billion to almost SEK 21
billion. Our focus will be broadened both geographically and as regards the
direction of properties. We have become established in the Öresund region and
have increased our presence in western Sweden in the cities of Gothenburg and
Halmstad.
Klövern is reporting a good result for the first quarter of 2012, despite only
one month of Dagon's earnings being included. Net moving-in is positive during
the quarter, which is unusual as the first quarter of the year is normally
dominated by large vacations. This year is no exception, but we have succeeded
in achieving an even higher level of moving-in owing to a high level of demand
and good letting work. We have furthermore, signed lease contracts, where the
tenant has not yet moved in, including three floors of offices in Victoria Tower
and with the Finnish technology company Sarlin in Västerås.
The turbulence in the financial market has abated somewhat and the banks'
margins have fallen compared with the situation at the turn of the year.
However, there is still a shortage of liquidity, which has contributed to
Klövern deciding to supplement its traditional bank borrowing with the issue of
two three-year uncovered bonds totalling SEK 820 million during the first
quarter of 2012. This issue will enable Klövern to act more quickly in the event
of suitable acquisition opportunities.
With the acquisition of Dagon, Klövern's vacant space increases to nearly
500.000 sq.m. It is aimed to halve this vacancy within five years. While this
will require some investments, it will though lead to rising rental values. But
above all it will require a high level of commitment on the part of our
personnel to enable us to achieve our goal" says Klövern's CEO Rutger Arnhult.
Nyköping, 17 April 2012
Klövern AB (publ)
For further information, please contact:
Rutger Arnhult, CEO, +46 72-301 53 31, rutger.arnhult(at)klovern.se
Britt-Marie Einar, Finance and IR Manager, Deputy CEO,
+46 155-44 33 12/+46 70-224 29 35, britt-marie.einar(at)klovern.se
Klövern is a real estate company committed to working closely with customers to
meet their needs of premises and services in Swedish growth regions. As at 31
March 2012 the value of the properties totalled approximately SEK 20.9 billion
and the rental income on an annual basis was around SEK 2.3 billion. The Klövern
share is listed on Nasdaq OMX Stockholm Mid Cap.
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. www.klovern.se. info(at)klovern.se.
This information is such that Klövern AB (publ) is obliged to disclose under the
Securities Market Act and/or the Financial Instruments Trading Act. The
information was made available for publication on 17 April 2012.
PR Interim Report January - March 2012:
http://hugin.info/134084/R/1602892/506545.pdf
Interim Report January - March 2012:
http://hugin.info/134084/R/1602892/506578.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Klövern AB (publ) via Thomson Reuters ONE
[HUG#1602892]
Unternehmensinformation / Kurzprofil:
Datum: 17.04.2012 - 07:31 Uhr
Sprache: Deutsch
News-ID 135543
Anzahl Zeichen: 5140
contact information:
Town:
Nyköping
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"Interim Report January - March 2012"
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Klövern AB (publ) (Nachricht senden)
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