STOCKHOLM, Sweden, May 12, 2004 (PRIMEZONE) -- Tornet:
2004:I 2003:I
Rental income, SEK m 582 614
Profit after tax, SEK m 205 700
Earnings per share, SEK 7.94 26.36
Operating profit, SEK m 334 362
Income from property sales net, SEK m 186 245
Income after financial items, SEK m 285 351
Cash flow from operations, SEK m 338 394
Shareholders' equity per share, SEK 222 210
Occupancy ratio area, % 88.6 89.4
Occupancy ratio financial, % 90.5 91.5
Profit after tax Profit after tax amounted to SEK 205 million (700).
Sales and acquisitions
Five properties (27) have been sold for SEK 516 million (964) with a capital gain of SEK 186 million (245). Three properties (3) have been acquired for SEK 155 million (1 004).
Events after the end of the period
After the end of the period three properties have been sold for SEK 83 million with a capital gain of SEK 3 million.
New strategic and business plan
As announced on 30 January a review of the strategic and business plan is taking place, the outcome of which will be provided in good time before the Annual General Meeting on 28 June.
Danderyd, 12 May 2004
Fastighets AB Tornet (publ)
For further information, please contact: Christel Armstrong Darvik, Managing Director, Fastighets AB Tornet, +46-8-544 905 02
Fastighets AB Tornet is one of Sweden's major listed property companies. Its holding has a lettable area of approximately 2.7 million square metres and a book value of approximately SEK 19 billion. Nearly 97 per cent of the property holdings, measured as book value, are in Sweden and mainly concentrated in Sweden's six largest cities, Norrkoping and Karlstad. The properties are owned and managed by the subsidiaries ArosTornet, Malmstaden, MalarTornet, SkansTornet and Euro Tower.
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