Diligentia AB Interim report January - September 1999

Diligentia AB Interim report January - September 1999 Operating results *Income after net financial items rose by 130 percent to SEK 338 million (147). *Net operating income for the period rose by 10 percent to SEK 570 million (520). Net operating income for the Swedish operations rose by 19 percent during the period to SEK 566 million (474). *The net gain on property sales during the period amounted to SEK 117 million (4). SEK 69 million relates to a sale in Japan, of which SEK 64 million is deducted in tax. *Income amounted to SEK 233 million (127), corresponding to earnings per share after tax of SEK 3.72 (2.03). *Cash flow per share from operating activities continued to improve, to SEK 4.51 (3.11). New forecast for 1999 *Operations developed more favorably than previously anticipated, due to which the income forecast for 1999 after financial income and expenses but excluding capital gains has been revised to SEK 275 million (199). The previous forecast was SEK 250 million. *The net income forecast for 1999 including capital gains after deducting estimated minority interests and taxes amounts to SEK 270 million (167), corresponding to earnings per share of SEK 4.30 (2.67). Highlights *Five office buildings were acquired in Copenhagen for DDK 428 million. *Following the conclusion of the period a letter of intent was signed on the sale of residential properties in three cities. Focus also increased on the selected market sector Copenhagen through an acquisition. The purchase price amounts to DDK 227 million and the total sales price to SEK 238 million. Furthermore, a property was acquired in Gothenburg for SEK 224 million and a property in Kista, in Stockholm for SEK 84 million. Operating results Rental income for the period totalled SEK 926 million (937). In Sweden, rental income rose by 6 percent, from SEK 857 million to SEK 910 million. For international properties, rental income amounted to SEK 16 million (80). The decrease is due to divestments in the international property portfolio. Expenses for operations, management, maintenance, tenancy modifications, tax and rents totalled SEK 356 million (417), of which the Swedish properties accounted for SEK 343 million (383) and the international properties for SEK 13 million (34). The Group's administrative expenses amounted to SEK 52 million (73). Net operating income for the Group amounted to SEK 570 million (520) during the period. In the Swedish portfolio, net operating income rose by 19 percent compared with the corresponding period of 1998, from SEK 474 million to SEK 566 million. The net gain on property sales during the period was SEK 117 million (4). Operating income for the period amounted to SEK 574 million (396) and income after net financial items was SEK 338 million (147). Income for the period after tax and minority interests amounted to SEK 233 million (127). ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/11/04/19991104BIT00210/bit0001.doc http://www.bit.se/bitonline/1999/11/04/19991104BIT00210/bit0002.pdf

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