* Income increased to SEK 330 million (182)
* Net profit for the period increased to SEK 300 million (183)
* Earnings per share increased to SEK 1.80 (1.52)
* The occupancy ratio increased from 84 to 85 per cent
Statement by CEO
Net new letting reaches record high
The first quarter has been characterised by an increase in the number
of tenants moving in, which, despite the relatively high number of
tenants moving out, contributed to net new letting rising to SEK 12
million. The occupancy ratio rose from 84 to 85 per cent during the
same period. Unrealised changes in the value of properties amounted
to SEK 294 million, a result of successful letting operations and, to
a certain extent, lower required returns on the market."The strong economy is generating a high degree of activity in all
markets where Klövern has operations. I am pleased to report that we
have noted an increased demand for premises from both new and
existing customers", comments Klövern's CEO, Gustaf Hermelin.
Earnings
Net profit for the period totalled SEK 300 million (183). This
improvement is mainly due to an increase in unrealised changes in
value and a considerably larger portfolio of properties. Income
amounted to SEK 330 million (182) and operating surplus was SEK 206
million (103). The profit includes realised changes in value from
property sales at SEK 0 million (13) and unrealised changes in value
of properties at SEK 294 million (112). Net financial income was SEK
-69 million (-32), of which changes in value from interest caps and
interest swaps accounted for SEK 2 million (4). The deferred tax cost
for the period amounted to SEK 117 million (0).
Nyköping 25 April 2007
Klövern AB (publ)
For further information, please contact:
Gustaf Hermelin, CEO, tel +46-155-44 33 10, +46-70-560 00 00,
gustaf.hermelin@klovern.se
Anders Lundquist, CFO, tel +46-155-44 33 20, +46-70-528 43 33,
anders.lundquist@klovern.se
Britt-Marie Einar, Corporate Communications Officer, tel +46-155-44
33 12, +46-70-224 29 35,
britt-marie.einar@klovern.se
Klövern is a real estate company with a local presence that actively
develops commercial properties in large Swedish cities. Today Klövern
has geographical units in ten cities: Borås, Karlstad, Kista,
Linköping, Norrköping, Nyköping, Täby, Uppsala, Västerås och Örebro.
As at 31 March 2007, the value of the properties is approximately
SEK 11.1 billion and the rental income on an annual basis is around
SEK 1,110 million. The Klövern share is listed on the Stockholm stock
exchange, Stockholmsbörsen's Nordic list for medium-sized companies.
Klövern AB (publ), Box 1024, SE- 611 29 Nyköping; Sweden * Tel
+46-(0)155-44 33 00, Fax +46-(0)155-44 33 22.
Company registration no. 556482-5833 * Registered office: Nyköping *
Website: www.klovern.se
