Interim Report January - September 2008

Cautious demand and declining level of activity

- Income increased by 6 percent to SEK 9,379m (8,852) and the number of residential units sold fell to 1,601 (2,837)
- Earnings before tax totaled SEK 1,276m (1,491) and net profit for the period totaled SEK 915m (1,074). Operating margin decreased to 13.8 percent (17.0)
- Property sales of SEK 83m (564) provided capital gains of SEK 21m (143)
- Return on equity for the past twelve months was 45.5 percent (46.6). Earnings per share during the nine-month period was SEK 10.50 (11.70)
- Consolidated cash flow including net investments in properties was
SEK -141m (1,081)
- Staff cutbacks are planned due to the rapidly declining economy and the effects of the crisis in the financial system. About 600 of a total of about 2,500 employees are affected.