Reported on the NASDAQ OMX Copenhagen on 7 April 2009
(The Danish version has been reported to NASDAQ OMX Copenhagen on 2 April 2009)
Summary:
Unsatisfactory profit for the company, Landic Property Bonds VIII (Sverige II)
A/S
The consolidated income statement shows a loss of DKK 157,5 million (2006/07:
negative DKK 6.5 million), and the consolidated balance sheet shows equity at
31 December 2008 of negative DKK 146.6 million (2006/07: DKK 3.8 million).
The loss for the period has materially shown as the result of negative value
adjustments of in-vestment properties, debt and derivatives of net negative DKK
180.2 million (2006/07: negative DKK 54.6 million) and exchange adjustment of
negative DKK 68 million on intercompany ac-counts due to a weakening of SEK.
Operating profit before value adjustments on investment properties, deb and
derivatives, net and tax amounts to negative DKK 18.1 million which is lower
than expected (2006/07: DKK 37.7 million), due to the exchange adjustment
mentioned above.
The financial period represents 12 months. Last year, the financial period
represented 15 months.
In the financial period, rental income has been received as planned from the
properties, and the activities have been carried out as expected.
The parent company, Landic Property Bonds VIII A/S, has in 2008 committed to
inject capital of SEK 120 million to Landic Property Bonds VIII AB.
Management considers the performance unsatisfactory.
Please address questions relating to this Announcement to Company Secretary
Klaus T. W. Lund on telephone +45 3378 4000.
Disclaimer; This is an unauthorised translation of the Danish original
document. In the event of inconsistency, the Dan-ish version shall apply.
