- Statutory Net Asset Value (according to preliminary IFRS year end results) was EUR 2.47 (NOK 19.59) per share as at December 2007, up EUR 0.71 (NOK 5.65) (40.5%) from Q4 2006
- Like-for like gain in the value of the Company's investment land portfolio of 5.5% from Q3 to Q4, average increase on an asset by asset basis in 2007 of 47%.
- Internal sales process commenced on first three projects: Corallia c75% confirmed reservations, Oasis and Central sales process commenced Feb 2008
- Initial primary constructor on Phase 1 of Oasis started on site in January 2008, Central and Corallia constructor appointed - start date on site end of February 2008
- Development Director (25yrs development experience) commenced work during the period
- Pre-tax profit in Q4 of EUR 5.7 million. Total assets were EUR 147.7 million.
- Concept stage planning commenced on next 4 projects - total built area of 405,000 sqm
- RomReal in the process of divesting selected non-strategic assets to further strengthen cash position
RomReal invites investors, analysts and media to the results presentation, to be held at the Continental Hotel in Oslo, Norway at 9.30 a.m. CET on 22 February 2008.
The presentation will be simultaneously webcast at http://media01.smartcom.no/Microsite/start4.aspx?eventid=2697.
For further information, please contact:
Paul Bashir CEO
Tel: +40 751 084 747
Mob: +44 7810 546605
E-mail: investors@romreal.com
