Nordisk Renting Interim Report 1 January - 31 March 2003

Nordisk Renting Interim Report 1 January - 31 March 2003 · Group profit before tax amounted to SEK 76.9 m (82.3), including SEK 1.5 m (13.7) profit from sales of property, etc. · Agreements concerning property acquisitions and new investments worth SEK 777 m (283) were entered into. · Properties to a value of SEK 10 m (92) were sold. · The 7th of May 2003 The Royal Bank of Scotland signed an agreement with Nordea on the acquisition of all shares in Nordisk Renting AB Acquisitions and investments Agreements entered into during the period concerning property acquisitions and new investments include: · acquisition of the head office of the world-leading consultancy and engineering company Jaakko Pöyry Group Oyj in Vantaa, outside Helsinki, for SEK 440 m, · conversion and extension of a storage and logistics property outside Norrköping for SEK 91 m, with Green Cargo as the tenant, · acquisition of three residential homes for the elderly and two school properties for a total of SEK 154 m in partnership with the construction and property company JM, with the local authorities in Malmö, Örebro, Göteborg, Södertälje and Gustavsberg outside Stockholm as long-term tenants, and · acquisition of a care property in Höör and an indoor car-park in Lund for a total of SEK 89 m, with the Region Skåne County Council as the tenant. Growth in the profit and volume development The Group's net sales for the period amounted to SEK 369 m (332), and on 31 March the balance sheet total equalled SEK 17 303 m compared with SEK 16 946 m at the beginning of the year. At the end of the period, the administration in the Group encompassed 196 properties totalling approximately 1.8 million square metres. Group profit from operating activities for the full year 2003 excluding profit from sales is expected to exceed the corresponding figure for 2002. Significant events after the year-end The 7th of May 2003 The Royal Bank of Scotland signed an agreement with Nordea on the acquisition of all shares in Nordisk Renting. The Royal Bank of Scotland is one of the largest banks in the world and Nordisk Renting represents another European strategic acqusition for the bank. The sale is subject to approval by the Finnish competition authority. This report has not been examined by the company's auditors. For further information, please contact: Reinhold Geijer, President & CEO, Nordisk Renting AB, tel +46 (0)8-670 98 00 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/05/07/20030507BIT00860/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/05/07/20030507BIT00860/wkr0002.pdf The full report