Kungsleden’s report for the first six months: high activity

- Profit before tax was SEK 292 (235) m and profit after tax was SEK 280 (174) m, equivalent to SEK 14.80 (9.20) per share.
- Rental revenues and Kungsleden’s operating surplus increased by 9 (7) per cent and 14 (3) per cent, to SEK 760 (695) m and SEK 469 (412) m respectively.
- In the interim period, 65 properties were divested for SEK 1,574 m, generating profits of SEK 77 m, while 23 properties were acquired for SEK 1,295 m.
- Kungsleden is reiterating its forecast of profit before tax of SEK 500 m for the financial year 2004.

Kungsleden’s Chief Executive Jens Engwall commented: “By means of acquisitions and disposals, we attempted to reduce the risk of our property holding in the first half-year. Thanks to the property market’s good liquidity, we’ve also been able to dispose of some problem properties, while simultaneously increasing our investments, particularly in retirement homes with long rental contracts. Of course, creating sustainably high and stable cash flows is a significant element of our business concept.”

For further information, please contact:
Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550
Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

About Us

Kungsleden is a long-term property-owner, and our vision is to create attractive and sustainable places that enrich people’s working days. We create value by owning, managing and developing offices and other commercial properties in Stockholm and Sweden’s other growth regions. A large portion of our properties belong to attractively located clusters where we also engage in the development of the whole area. Kungsleden’s goal is to deliver an attractive total return on our properties and for our shareholders. Kungsleden (KLED) is listed on NASDAQ Nordic Large Cap.


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