Sustained brisk progress - Kungsleden Interim Report January - June 2001

Sustained brisk progress - Kungsleden Interim Report January - June 2001 · Profit before tax for the first half-year was SEK 191 (169) m, equivalent to SEK 10.1 per share. · Kungsleden's operating surplus was SEK 305 (200) m, a 52% increase. · Operating profit was SEK 321 (193) m, up 67%. · Kungsleden divested 49 properties in the first half-year, for sales revenues of SEK 447 m, and profits of SEK 30 (5) m; 44 properties were acquired, for a value of SEK 1,937 m. During the period, our group of properties has grown by more than 20%. · Revised forecast of profit after tax paid from SEK 300 m to SEK 330 m. - Kungsleden's Chief Executive Jens Engwall commented: "Yet again, Kungsleden has posted a solid report. Our efforts to increase yields and reduce risks go on, and accordingly, property trading is a central element of our operations. Our active property acquisition and divestment has resulted in an improved portfolio. The increased average size of our property holding is one example in this context and its growing concentration, with 56% of our current holding now in Greater Stockholm, Greater Gothenburg and the Öresund region. Meanwhile, the fact that over nine-tenths of our gross income is sourced from property management is another pleasing factor. Our long-term ability to generate cash flow is thus strong." For more information, please contact: Jens Engwall, Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550 Johan Risberg, Deputy Chief Executive, tel: +46 (0)8 503 05206, mobile: +46 (0)70 690 6565 Kungsleden's business concept is to own and manage properties with a high and stable long-term property yield. Kungsleden is an active participant in the prevailing change processes on the Swedish property market, by utilizing and enhancing its competencies in structuring heterogeneous property holdings. This implies Kungsleden's property holding frequently changing through acquisitions and disposals. Kungsleden's property portfolio comprises 455 properties with a book value of over SEK 8.0 bn. The holding is located in a total of 138 municipalities, and is concentrated on the Swedish provinces of Götaland and Svealand. Kungsleden has been quoted on the Stockholm Stock 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/2001/08/16/20010816BIT00870/bit0001.doc http://www.waymaker.net/bitonline/2001/08/16/20010816BIT00870/bit0001.pdf