News : Johan Risberg

Anders Kvist Kungsleden’s new CFO and Deputy Chief Executive

5/30/2012 5:30 AM EST - Kungsleden AB

Listed Swedish property company Kungsleden is appointing Anders Kvist, currently of northern European banking group SEB, as its new CFO and Deputy Chief Executive.
The financial conditions on the property market have altered during the financial crisis of recent years. These new conditions have compelled companies like Kungsleden to find different solutions to those that were previously customary on the market....

Property sale discontinued

5/16/2012 7:30 AM EST - Kungsleden AB

On 16 February 2012, listed Swedish property company Kungsleden AB (publ) reported the sale of five properties for a total purchase price of SEK 151 m excluding transaction costs at a property yield of 7.1%. On 10 April 2012, Kungsleden reported that completion had been rescheduled to 15 May 2012.
Because the purchaser has not succeeded in arranging finance in time, it is likely that this transaction must now...

Hemsö issues three-year, SEK 750 m bond loan

5/16/2012 2:00 AM EST - Kungsleden AB

Hemsö Fastighets AB, a 50:50 joint venture held by Kungsleden AB (publ) and AP3 (the Swedish Third Pension Insurance Fund) is issuing a three-year unsecured bond loan on the Swedish market. The nominal amount is SEK 750 m.
The loan is at variable interest and has final maturity in 2015. As a consequence of this action, These bonds will have a coupon of STIBOR 3m +2.25%. Hemsö will be applying to list these...

Gross profit up 47 per cent and this year’s refinancing secured

4/26/2012 2:00 AM EST - Kungsleden AB

Interim report January - March 2012
RESULTS IN BRIEF
The interim period (January–March)

· Net sales increased by 36 per cent to SEK 556 (407) m while gross profit increased by 47 per cent to SEK 335 (228) m with a larger property portfolio and milder winter.
· Profit before tax amounted to SEK 458 (492) m. Profit after tax was SEK 113 (406) m, or SEK 0.80 (3.00) per share. The profit decrease is mainly due...

Kungsleden — update on tax rulings and downgraded estimate

4/12/2012 3:30 AM EST - Kungsleden AB

In April 2012, listed Swedish property company Kungsleden received rulings from the Administrative Court of Appeal in Stockholm regarding the fiscal year 2005. These rulings relate to two companies in the Kungsleden group, which claimed tax relief for losses on the liquidation of partnerships. These losses on liquidation arose as a part of internal restructuring, and against this background, the Administrative Court...

Postponed completion of five commercial properties

4/10/2012 2:00 AM EST - Kungsleden AB

Listed Swedish property company Kungsleden AB (publ) announced 16 February 2012 a sale of five properties for a total purchase price of SEK 151 m excluding transaction costs at a property yield of 7.1 percent. The completion is postponed and will take place at the latest 15 May 2012.

Kungsleden publishes Annual Report for 2011 and an update on tax proceedings

3/29/2012 2:00 AM EST - Kungsleden AB

The Annual Report of listed Swedish property company Kungsleden AB (publ) for 2011 is now available on the company’s website kungsleden.se. The Annual Report presents new information updating its tax proceedings, on page 43. Kungsleden will be reporting potential tax rulings in press releases, and other tax-related information in tandem with its quarterly reports.

In February 2012, the Swedish Tax...

Kungsleden sells two properties for approx. SEK 75 m

2/17/2012 2:00 AM EST - Kungsleden AB

Listed Swedish property company Kungsleden AB (publ) is selling two properties for a total purchase price of SEK 75 m excluding transaction costs at a property yield of 6.5%. The sales price exceeds book value and acquisition cost by approximately SEK 4 m. This amount will be included in Kungsleden’s profit for calculating dividends for 2012.
The properties are located in Linköping, south west of Stockholm, and...

Kungsleden sells five properties for SEK 151 m

2/16/2012 6:00 AM EST - Kungsleden AB

Listed Swedish property company Kungsleden AB (publ) is selling five properties for a total purchase price of SEK 151 m excluding transaction costs at a property yield of 7.1%. The sales price exceeds book value by approximately SEK 10 m and exceeds acquisition cost by about SEK 26 m. This latter amount will be included in Kungsleden’s profit for calculating dividends for 2012.

Profit above estimate and increased dividend

2/16/2012 2:00 AM EST - Kungsleden AB

Financial Statement 2011
RESULTS IN BRIEF
The financial year (January – December)

· Net sales increased by 25 per cent to SEK 2,882 (2,304) m and gross profit increased by 21 per cent to SEK 1,877 (1,545) m due to a larger property portfolio.
· Profit before tax amounted to SEK 828 (1,186) m. Profit after tax was SEK 638 (841) m, or SEK 4.70 (6.20) per share. Largely, the profit decrease is due to negative...

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