Kungsleden#s first quarter: Operating surplus SEK 200 m

Kungsleden's first quarter: Operating surplus SEK 200 m ·Kungsleden's profit after tax was SEK 81 m, or SEK 4.30 per share. ·The operating surplus increased by 5 per cent to SEK 200 m. ·Kungsleden divested 14 properties in the interim period for SEK 180 m, generating a profit of SEK 26 m, while acquiring 4 properties for SEK 202 m. ·Kungsleden is retaining its forecast of profit before tax of SEK 450 m. Jens Engwall, Kungsleden's Chief Executive, had the following comment: "We improved the operating surplus despite a tough market and severe winter, with high operating costs. By effecting acquisitions and disposals, we've lifted our holding's earnings capacity-what the holding we owned on 31 March 2003 would have generated if we'd held it for the last 12 months-to SEK 879 m. But what's even more important is that simultaneously, we've enhanced our risk-adjusted returns." Report period Interim period 12 months January-March January-March April-March SEK m 2003 2002 2003 2002 2003 2002 Operating surplus 200.3 189.5 200.3 189.5 829.3 684.2 Profit, property 25.7 36.0 25.7 36.0 126.0 134.0 trading Net financial position -107.9 -87.9* -107.9 -87.9* -442.9 - 299.4 Profit after tax 80.6 93.0 80.6 93.0 309.3 305.2 EPS, SEK 4.30 4.90 4.30 4.90 16.30 16.10 Cash flow from op'ns 10.40 5.60 10.40 5.60 28.90 28.30 per share, SEK RoE, % 13.6 16.8 13.6 16.8 13.2 13.8 * Gained a positive SEK 14 m influence because of freedom from interest. For more information, please contact: Jens Engwall, Kungsleden's Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550 Johan Risberg, Kungsleden's COO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565 Detta pressmeddelande och bokslutskommunikén finns tillgängliga på svenska på www.kungsleden.se[REMOVED GRAPHICS] Kungsleden's strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and disposals. Kungsleden's property holding comprises 420 properties with a book value of approximately SEK 10.3 bn. The holding is located in a total of 119 municipalities, although concentrated on the Swedish provinces of Götaland and Svealand. Kungsleden has been quoted on the OM Stockholm Exchange O-list since 14 April 1999. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/04/23/20030423BIT00560/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/04/23/20030423BIT00560/wkr0002.pdf The full report