Interim report January – March 2006

Strong income growth and continued high profitability

- Income increased by 41% to SEK 2,898m (2,054) and the number of sold residential units totalled 946 (1,021) - Profit before tax significantly improved to SEK 356m (155) and the first quarter profit after tax increased to SEK 287m (109). The operating margin increased to 13.0% (8.7) - Property sales of SEK 511m (352) provided capital gains of SEK 65m (38) - Return on equity in the past 12-month period increased to 36.2% (14.2). Earnings per share for the first quarter of 2006 amounted to SEK 11.60 (3.90) - Interest-bearing net receivable rose by SEK 1.7 billion to SEK 1.6 billion (-0.1). The Group’s cash flow including sales of properties amounted to SEK 64m (516) Please find the full report attached (PDF).