Interim report January – September 2006
Continued strong development for Catena
• Rental revenue for the period totaled SEK 131.8 M (127.7 pro forma for the corresponding period in 2005).
• Income from property management for the period, excluding listing expenses, totaled SEK 81.4 M (66.6 pro forma), or SEK 7.04 per share (5.76 pro forma). Income from property management for the period, including listing expenses of SEK 10.6 M, totaled SEK 70.8 (66.6 pro forma), corresponding to SEK 6.12 per share (5.76 pro forma).
• Profit before tax for the period was SEK 195.1 M (322.7 pro forma). Profit for the period includes unrealized value changes in property and financial instruments of SEK 124.3 M (256.1 pro forma) and expenses in conjunction with the stock exchange listing in the amount of SEK 10.6 M (0.0 pro forma).
• Profit after tax for the period amounted to SEK 143.4 M (232.1 pro forma) or SEK 12.40 per share (20.07 pro forma).
• A shareholder contribution was received during the period amounting to SEK 60.0 M.
PETER HALLGREN, CEO:
“The value of Catena’s properties continued to increase during the third quarter. That growth was due primarily to a strong market for commercial properties in Norway. ¬Overall, the value of Catena’s properties increased by SEK 119.6 M during the first nine months of the year.”
“During the quarter, we continued to increase our renting. In that respect, our expertise in retailing has played a key role in our relationship with our tenant in Värnhem – a clothing outlet retailer. The customer has signed an agreement for leasing an additional 1,050 sq.m.”
“Investments in existing properties on behalf of our tenants continued according to plan. During the reporting period, investment decisions totaling SEK 57.1 M were made.”
“We continue to seek interesting possibilities for acquiring commercial properties. During the quarter we decided to exercise our option to acquire yet another well-situated property in Sisjön, in the municipality of Mölndal. The 5,000 sq.m. property, acquired for SEK 64 M, houses the Ford sales operation of Catena tenant Bilia Fordon.”
Gothenburg, November 9, 2006
Catena AB (publ)
The interim report can be downloaded from www.catenafastigheter.se