Submitted to NASDAQ OMX Copenhagen on 3 April 2009
The Supervisory Board of Landic Property Bonds IX AB has today held a
Supervisory Board meeting at which the Group's annual report for the financial
year 2007/08 was discussed. The report is enclosed.
Summary:
Landic Property Bonds IX AB's financial performance 2007/08
The consolidated income statement shows a loss before tax of SEK 523,658k
(2006/07: nega-tive SEK 362,805k) and the consolidated balance sheet shows
equity at 31 December 2008 of negative SEK 26,813k (2006/07: positive SEK
401,163k).
Loss before value adjustments, write-down of goodwill and tax amounts to SEK
1,479k which is lower than our expectations (2006/07: negative SEK 47,843k).
The loss for the period has primarily been earned by negative value adjustments
of investment properties, debt and derivatives of net SEK 379,278k (2006/07:
positive SEK 16,724k), write-down of goodwill SEK 142,901k (2006/07: 331,686k)
and negative currency adjustment of SEK 47,101k (2006/07: 2,312k).
The negative financial performance has appeared as a consequence of the pending
crisis in the international financial sector, the current cyclical slow-down,
the negative development in prices on the property market, and a weakening of
SEK.
The financial period represents 15 months. Last year, the financial period
represented 12 months, but only with activities for 11 months.
Please address questions relating to this announcement to VD Tommy Sundbom on
+46 841 020 310.
