Interim Report January-March 2003 Vasakronan AB

INTERIM REPORT JANUARY-MARCH 2003 VASAKRONAN AB · Rental revenues increased to SEK 755 M (712). The rent increase in new and renewed contracts was 1% (33). The financial vacancy rate increased to 6 %(4). · Income after financial items amounted to SEK 182 M (155). · The forecast for 2003 is for income after net financial items, before items affecting comparability, amounting to approximately SEK 550 M. "The market was characterized by continued uncertainty and poor business conditions during the first quarter of 2003", comments Håkan Bryngelson, President of Vasakronan. "The weak economy has had a negative impact on demand in the premises leasing market." "Stockholm has been affected more than other urban centers, and rents in central Stockholm have continued to decline. Demand for centrally located, modern and efficient offices in Stockholm continues to be satisfactory, however. Demand has declined in Göteborg and Malmö, although rents are stable for the most part. Demand for premises in Lund, Uppsala and Linköping is limited, but rental levels continue to be stable, says Håkan Bryngelson". Annual General Meeting At the Annual General Meeting on April 29, 2003, a dividend of SEK 216 M (165) was approved. The Annual General Meeting re-elected Egon Jacobsson, Chairman, Lars V Kylberg, Vice Chairman, Håkan Bryngelson, Georg Danell, Gerd Engman and Birgitta Kantola. Maria Lilja who had been a member since 1993 declined re-election. Lars-Johan Cederlund of the Ministry of Industry, Employment and Communications, and Christina Ragsten Pettersson of the Ministry of Industry, Employment and Communications was elected as new members of the Board. The Interim-report will be published at www.vasakronan.se on Tuesday April 29th. For further information, contact: Håkan Bryngelson, President and CEO +46 8 783 21 05 Björn Lindström, Chief Financial Officer +46 8 783 21 12 Bengt Möller, Senior Vice President Corporate Communications +46 8 783 21 09 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/04/29/20030429BIT01400/wkr0001.pdf The full report