Kungsleden’s third quarter: portfolio modification

• Profit before tax was SEK 420 (354) m and profit after tax was SEK 363 (263) m, equivalent to SEK 19.20 (13.90) per share.
• Rental revenues and Kungsleden’s operating surplus increased by 8 (7) per cent and 9 (4) per cent, to SEK 1,112 (1,033) m and SEK 708 (647) m respectively.
• In the interim period, 83 properties were divested for SEK 1,767 m, generating profits of SEK 82 m, while 23 properties were acquired for
SEK 1,345 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: “We can report profit gains after tax of 38 per cent for the first nine months of the year, the consequence of an improved operating surplus and sustained successful property trading. Meanwhile, the 18 property disposals we completed in the third quarter enhanced the risk-adjusted returns of our portfolio.”

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

Detta pressmeddelande och kvartalsrapporten finns tillgängliga på svenska på www.kungsleden.se

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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