INTERIM REPORT JANUARY – MARCH, 2007

Strong start for 2007 – Sharp increase in earnings and increased pace of investment in Catena

• Rental revenue during the period totaled SEK 46.1 M (44.1 in corresponding period a year earlier).

• Income from property management amounted to SEK 15.2 M (15.9), or SEK 1.31 per share (1.37).

• Profit before tax for the period was SEK 98.6 M (67.4). Profit for the period includes unrealized changes of SEK 38.0 M (-) in the value of property and SEK 45.4 M (51.5) in financial instruments.

• Sales of properties resulted in a realized change in value of SEK 38,0 M (-)

• Profit after tax for the period amounted to SEK 85.1 M (48.8) or SEK 7.36 per share (4.22).

• Investments of about SEK 100 M were decided during the period.


Peter Hallgren, CEO:

“The year 2007 has begun well for Catena. Profit for the period after tax rose by 74.3% to SEK 85.1 M. The earnings include continued favorable increases in the value of our properties. We are following our strategy of owning and efficiently managing commercial properties in prime locations in growth areas in the Nordic region.”

“In March we concluded the sale of six properties, which were outside our prioritized markets of Stockholm, Gothenburg, Öresund and Oslo. The sales were carried out at a purchase consideration of SEK 235 M, which is 21% higher than the value appraisal of the properties at year-end 2006. The sales yielded a capital gain of nearly SEK 38 M. We have now streamlined our portfolio to become a leading player in commercial properties in strategic areas.”

“We increased our pace of investments and in the first quarter have ongoing projects totaling SEK 141 M. The investments are in line with our strategy to develop existing properties in close cooperation with our customers.”

“In conjunction with the decided investments, we have signed long-term leases with the tenants in our properties in Södertälje and Drammen, which are both being upgraded to modern passenger car facilities.”


For information, please contact Peter Hallgren, President and Chief Executive Officer,
tel +46-31-760 09 32, or Rune Jonsson, CFO, tel +46-31-760 09 35


The interim report can be downloaded from www.catenafastigheter.se