Klövern AB (publ): Interim Report January - September 2013
Income increased by 15 per cent to SEK 1,630 million (1,423).
The operating surplus increased by 10 per cent to SEK 1,033 million (935).
Profit from property management increased by 12 per cent to SEK 476 million
Changes in value of properties amounted to SEK -96 million (176), of
derivatives to SEK 345 million (-133) and of financial assets to SEK 71
Net profit for the period amounted to SEK 632 million (378), corresponding to
SEK 2.96 (1.79) per common share.
Taking possession of eleven properties for SEK 469 million and sale of eleven
properties for SEK 364 million.
Acquisition of 29.4 per cent of the real estate company Tribona AB (publ).
Tribona is reported as an associated company from 7 June 2013.
Klövern intends to conceptualise its business centre activities under a
separate brand name: First Office.
Statement by the CEO
Focus on our core business
"There remain great challenges in the global economy. As in the second
quarter, the Swedish economic recovery continues to be slow. The positive
signals mainly come from the service sector where optimism has markedly
increased recently. This is also the sector where most jobs are being created
at present. We note a healthy demand for efficient office premises, not least
from new service companies.
We have continued our focused letting work during the period. An example of
this was that we signed a six-year lease contract with the County
Administrative Board for modern office premises in Uppsala. This contract
covers around 3,800 sq.m. and the total rent for the contract period is almost
SEK 50 million. It is also the starting shot for the refurbishment of the
former post office building Posthuset, adjacent to Uppsala travel interchange.
It is important for Klövern to be able to participate in developing the
central parts of Uppsala.
At the end of September, we also announced that we have signed a six-year
lease contract with the Swedish Transport Agency in Örebro. In all, this
contract covers 17,000 sq.m. with a total rent of around SEK 150 million,
during the contract period.
Around 20% of Klövern's contract value now comes from public sector tenants.
It would, of course, be gratifying if we continue to increase this share.
As part of our ambition to raise our popular business centres to an even
higher level, we intend to conceptualise this activity with its own brand
name: First Office. By at the same time clarifying the breadth of our
geographic presence - we have 50 business centres in 17 cities - and adding
new services, we expect to attract tenants to an even greater extent.
In summary it has again been a quarter of consolidation with the focus on
our core business."
Nyköping, 23 October 2013
Klövern AB (publ)
For further information, please contact:
Rutger Arnhult, CEO, +46 70-458 24 70, firstname.lastname@example.org
Lars Norrby, IR, +46 76-777 38 00, email@example.com
Klövern is a real estate company committed to working closely with customers
to offer them efficient premises in Swedish growth regions. As at 30 September
2013, the value of the properties totalled approximately SEK 23.2 billion and
the rental income on an annual basis was around SEK 2.5 billion. The Klövern
share is listed on Nasdaq OMX Stockholm Mid Cap.
Klövern AB (publ), Box 1024, SE-611 29 Nyköping, Sweden. Tel +46155-44 33 00,
Fax +46155-44 33 22. Corporate registration no. 556482-5833. Registered
office: Nyköping. Website: www.klovern.se firstname.lastname@example.org
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 23 October 2013.
Interim Report January – September 2013
This announcement is distributed by Thomson Reuters on behalf of Thomson
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
information contained therein.
Source: Klövern AB (publ) via Thomson Reuters ONE
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