Increased rents and decreased vacancies - Vasakronan’s interim report January – March 2008

Vasakronan’s interim report for January – March 2008 showed that rental revenues increased by 7% and vacancies declined to 5% (6). The market value of Vasakronan’s properties continued to increase to SEK 46,104 M (38,930).

“It has been an excellent start to 2008 with a continued strong rental market in the cities,” comments Håkan Bryngelson, President of Vasakronan. “Demand for modern offices in central locations remained high and rental levels increased somewhat during the first quarter.

“Vasakronan’s rental revenues increased, operating expenses decreased and interest expenses increased, which combined, resulted in improved income after financial items and before value changes of SEK 379 M (361).”


- Rental revenues increased by 7% to SEK 757 M (708).
- Vacancy rate declined to 5% (6) of rental revenues.
- Income after financial items before value changes increased to SEK 379 M (361), as a result of improved operating surplus.
- Market value of properties increased to SEK 46,104 M (39,930). Unrealized increase in value for the first quarter of 2008 amounted to SEK 162 M (497).
- The project portfolio increased to SEK 3,861 M (2,995) and investments increased to SEK 506 M (256).
- The outlook for 2008 is unchanged. Income after financial items, before value changes and excluding gains from the sale of building rights, is expected to amount to approximately SEK 1,500 M (1,477).


Analyst meeting
Wednesday April 23, 2008 at 12:00 noon at Operaterassen.
Registration: Per-Erik Holmström, Financial Hearings. Tel: +46 (0)736-99 27 61.
The presentation may also be followed directly via: www.financialhearings.com