STOCKHOLM, Sweden, May 7, 2002 (PRIMEZONE) -- Lundbergs:
- Profit after full tax amounted to SEK 352 m. (1,617), which corresponds to SEK 5.67 (25.05) per share. If the extraordinary dividend received from Holmen in 2001 is disregarded, profit rose by SEK 42 m., or 14%. - On March 31, 2002, net asset value per share amounted to SEK 271 (Dec 31, 2001: 247) and SEK 239 (Dec 31, 2001: 220) after deferred tax. The corresponding values on May 6, 2002 were SEK 275 and SEK 241, respectively. L E Lundbergforetagen AB (publ) Phone: +46-8-463 06 00 or +46-11-21 65 00 Fax: +46-8-611 66 09 or +46-11-21 65 65 E-mail: lundbergs@lundbergs.se Website: www.lundbergs.se Company registration number: 556056-881 Registered Head Office: Stockholm
This interim report has been prepared in accordance with the Swedish Financial Accounting Standards Council's Recommendation RR20 (Interim Reporting).
SALES AND PROFIT
The Group's net sales amounted to SEK 622 m. (1,825). Profit after financial items amounted to SEK 370 m. (1,631). The reason for the reduced profit was that no extraordinary dividends have been received during 2002. Profit after full tax was SEK 352 m. (1,617), which corresponds to SEK 5.67 (25.05) per share.
REAL ESTATE
Operating profit for the Real Estate business area amounted to SEK 83 m. (82).
Rental revenues from housing and commercial premises, which increased to a total of SEK 203 m. (194), developed well. Housing accounted for SEK 3 m. of the increase and commercial premises, etc. for SEK 6 m. Housing accounted for 49% of total rental revenues and commercial premises, etc. for 51%.
The overall vacancy rate during the period corresponded to 2.5% of rental revenues (2001 average: 2.3). The vacancy rate for housing was 0.6% (2001 average: 0.9), while the vacancy rate for commercial premises was 4.2% (2001 average: 3.6). The overall vacancy rate in April 2002 was 1.8%, whereby the rate for housing was 0.4% and that for commercial premises was 3.0%.
Property costs rose to SEK 113 m. (107). The increase was due to higher maintenance and tenant-oriented property improvement costs, which totaled SEK 36 m. (25). As a result of a milder winter heating costs decreased by SEK 3 m. to SEK 21 m. Other property costs were at the same level as 2001.
The operating net amounted to SEK 108 m. (110).
A net amount of SEK 4 m. (7) was invested in wholly and partly owned properties during the period.
The Group's completed properties, which have a book value of SEK 2,630 m. (2,678), generated an annualized yield (operating net in relation to book value) of 16.3% (16.3). The book value of properties held for future development was SEK 133 m. (144).
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