Interim Report January - September 2000
Interim Report - January - September 2000 - Continued strong demand for rental premises - Rental revenues up 10% and earnings strengthened * Income after financial items amounted to SEK 474 M (392). * Rental revenues increased by 10% to SEK 1,944 M (1,766). The demand for rented premises is very strong. * Investments amounted to SEK 1,839 M (1,272), of which property acquisitions accounted for SEK 1,027 (1,603) and investment in properties and facilities represented SEK 812 M (669). Property divestments amounted to SEK 244 M (78), with a capital gain of SEK 75 M (20). * The proportion of central government tenants declined to 45% * The outlook for full-year 2000 is an income of approximately SEK 400 M after net financial items, based on the existing portfolio and before gains/losses on the sale of properties. "The rental premises market is very strong, particularly in Stockholm, but also in the other major cities in Sweden," comments Håkan Bryngelson, President of Vasakronan. "During the first half [nine months] of the year, Vasakronan has renegotiated contracts corresponding to SEK 160 million in annual rent and a rental increase of 45 percent. "The outlook for full-year 2000 is an income of approximately SEK 400 M after net financial items. The strong development in operating surplus is offset by increased net financial items as a result of property acquisitions, investments and dividends." The entire report is also available on www.vasakronan.com, under finance. For additional information, contact: Håkan Bryngelson, President +46 8 783 21 05 Björn Lindström, Senior Vice President, Chief +46 8 783 21 12 Financial Bengt Möller, Senior Vice President, Corp +46 8 783 21 19 Communications ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/27/20001027BIT00320/bit0001.doc http://www.bit.se/bitonline/2000/10/27/20001027BIT00320/bit0002.pdf