Reported to OMX, The Nordic Exchange, via Company News Service on 29 August
2008.
The Supervisory Board of Landic Property Bonds IX AB has today held a
Supervisory Board meeting at which the Group's interim announcement was
considered.
Landic Property Bonds IX AB has prolonged its financial year to 31 December
2008. Management has decided to prolong the financial year by three months, and
as such, the Company´s financial period covers the period 1 October 2007 to 31
December 2008.
Summary:
Interim results in Landic Property Bonds IX AB
The Group earned a profit before tax of SEK 93,761k compared with negative SEK
14,381k in the comparative period; 1 October 2006 - 30 June 2007. The primary
reason for the increase is net value adjustments of investment properties, debt
and derivates.
Revenue for the period amounts to SEK 493,720k, which is an increase of 17 %,
compared with the comparative period last year.
Profit/loss before value adjustment of investment properties, debt and tax
amounts to negative SEK 2,278k compared with negative SEK 59,143k in the
comparative period. The Supervisory Board considers the achieved profit
satisfactory.
The value of the investment properties at 30 June 2008 amounts to SEK 6,243.1
million. Investment properties have been revaluated at 30 June 2008 due to a
decrease in the fair value of the investment properties as a result of pressure
on market yield and increasing energy prices. Investment properties have been
written down by SEK 60,908k.
In the interim announcement for 1 October 2007 - 31 March 2008, the Supervisory
and Executive Boards expressed expectations of a loss before tax and value
adjustments of investment properties and debt, net of SEK 65 million for this
financial year 2007/08 (15 months). The Supervisory and Executive Boards
maintain this expectation.
Please address questions relating to this Announcement to MD Mats Sterner on
tel. +46 8 410 203 11 or to CFO Gunnar Petersen on tel. +354 575-9003.
