* Income increased to SEK 1,254 million (1,220)
* Profit from property management increased by 39 per cent to SEK 493 million
(355), corresponding to SEK 3.07 per share (2.17). Profit from property
management was forecasted to amount to at least SEK 490 million
* Net profit amounted to SEK 237 million (-476), corresponding to SEK 1.48 per
share (-2.92)
* Property value totalled SEK 12,032 million (11,895)
* The Board of Directors is recommending a dividend of SEK 1.25 per share
(1.00).
Statement by the CEO
Sharp increase in profit
"Klövern has achieved a sharp improvement in profit from property management
during 2009. While this can be explained to a large extent by the extremely low
level of interest rates, Klövern's low risk profile and dedicated personnel are
also important contributory factors. To date, Klövern has not been particularly
greatly affected by the downturn, which has left its mark on the general state
of the economy. The occupancy rate fell marginally at the start of the year,
rental levels are stable and property values are holding up, which is shown not
least by the property sales carried out by Klövern during the year.
Future years will undoubtedly be tough from the point of view of the business
cycle. However, Klövern's good foundations provide a basis for further
value-creating investments in existing and new properties during 2010. The
downturn can give rise to exciting new business opportunities where Klövern can
play a part in creating the communities of the future", says Klövern's CEO
Gustaf Hermelin.
Nyköping, 19 February 2010
Klövern AB (publ)
For further information, please contact:
Gustaf Hermelin, CEO, tel +46 155-44 33 10, +46 70-560 00 00,
gustaf.hermelin@klovern.se
Caesar Åfors, CFO and vice President, tel +46 155-44 33 02, +46 70-662 48 48,
caesar.afors@klovern.se
Britt-Marie Einar, Finance/Information Manager, tel +46 155-44 33 12,
+46 70-224 29 35,britt-marie.einar@klovern.se
Klövern is a real estate company committed to working closely with customers to
meet their needs of premises and services in Swedish growth regions. Klövern has
business units in ten cities: Borås, Karlstad, Kista, Linköping, Norrköping,
Nyköping, Täby, Uppsala, Västerås and Örebro. As at 31 December 2009, the value
of the properties totalled approximately SEK 12 billion and the rental value on
an annual basis was SEK 1.4 billion. The Klövern share is listed on Nasdaq OMX
Nordic Exchange in Stockholm, medium-sized companies.
Klövern AB (publ), Box 1024, SE-611 29 Nyköping, Sweden. Tel +46 155-44 33 00,
Fax +46 155-44 33 22.
Corporate registration no. 556482-5833. Registered office: Nyköping. Website:
www.klovern.se.
[HUG#1386172]
