BILIA SELLS PROPERTY IN VÄSTERÅS
Bilia today sold a property in Västerås to Aspholmen Fastigheter AB, a subsidiary of Castellum AB. Dealer operations for Ford are currently being run at this facility. The capital gain after tax will total approximately SEK 5 M and will be reported during the first uarter of 2008. The balance sheet total will be reduced by around SEK 50 M. According to the agreement with Aspholmen, Bilia will rent this acility for the whole of 2008. Operations will then be transferred to a more suitable newly erected building in the vicinity. The new cility is owned by Aspholmen and the move is expected to take place during the final quarter of 2008. The net sum of just under SEK 3 M in rental costs will be charged against operating income in 2008 as a result of the sale. The annual cost of the new facility will be about SEK 2.5 M less and will have a positive effect on results from 2009. The sales process relating to the remaining properties in Mälardalen and Copenhagen is proceeding according to plan and a prospectus will be sent to prospective investors over the next few days.
Göteborg, 8 January 2008
Bilia AB (publ)
For further information, please contact Bilia’s managing director, Jan Pettersson, or CFO, Gunnar Blomkvist, Bilia AB, phone +46 31 709 55 00.
