INTERIM REPORT JANUARY – MARCH, 2010

Report this content

Catena reported a significant improvement in income from property management

• Rental revenue during the period totaled SEK 51.7m (49.6). • Income from property management amounted to SEK 33.9m (25.2), or SEK 2.93 per share (2.18). • Profit before tax for the period was SEK 78.9m (29.9). • Profit after tax for the period amounted to SEK 124.8m (24.2), or SEK 10.79 per share (2.09). • Realized change in value included in profit before tax amounted to SEK 39.6m (2.6) • Unrealized change in value amounted to a profit of SEK 5.4m (profit: 2.1), for which property accounts for a profit of SEK 4.6m (profit: 11.4) and derivatives for a profit of SEK 0.8m (loss: 9.3). • Investments in existing portfolio amounted to SEK 1m (23) during the period. Peter Hallgren, President and CEO: • The successful leasing and low financial expenses are now yielding results in the form of a significant improvement in income from property management. The improvement is up 34.5 percent compared with the year-earlier period. This result was achieved despite approximately SEK 2.4m being charged against profit due to the extreme winter weather. • The realized change in value resulting from the sale of the properties in Norway was about SEK 39.6m. Final settlement will take place in May/June 2010. The transaction strengthened Catena with the equity/assets ratio rising to 42.7 percent. • With its strengthened financial position, Catena will continue to develop and improve its existing portfolio at the same time as acquisitions will be continuously evaluated. • The sale of the property on Jagtvej in Copenhagen will be reported in the second quarter of 2010. For information, please contact Peter Hallgren, President and CEO, tel +46-31-760 09 32, or Rune Jonsson, CFO, tel +46-31-760 09 35 N.B. This is a translation from Swedish. The Swedish version shall always take precedence.

Subscribe

Documents & Links