Strong earnings despite weaker rental market - Interim report from Vasakronan

Strong earnings despite weaker rental market - Interim report from Vasakronan Interim report January - September 2002 - "The rental premises market was adversely affected during the third quarter of 2002," comments Håkan Bryngelson, President of Vasakronan. "Nonetheless, we have a large number of inquiries for new office premises, but it takes longer to conclude an agreement." - During the first three quarters of 2002, contracts corresponding to a value of SEK 245 M in annual rents were renegotiated, with rents increasing an average of 42%. - Despite the prevailing weak economic conditions, Vasakronan reported strong earnings. Income before depreciation is higher than a year earlier and the forecast for full-year 2002 is income after net financial items amounting to approximately SEK 600 M (418). Rental revenues amounted to SEK 2,162 M (2,057). The increase in rental income for new and renewed leases was 42% (47). The financial vacancy rate increased to 6% (4). Income after financial items excluding property sales and costs for prepayment of future interest expenses amounted to SEK 553 M (496). The rental premises market was affected adversely by the economic downturn. The forecast for full-year 2002 is that income after net financial items, with the existing portfolio and before gains/losses on the sale of properties, will increase to approximately SEK 600 M (418). The eight-page interim report is enclosed as an appendix. It is also available at 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 The following files are available for download: Hela Rapporten

About Us

For updated and current information on Vasakronan please go to or contact Peter Östman or Rebecca Liljebladh Thorell. Vasakronan is Sweden’s largest property company with a portfolio comprising 174 properties with a total area of 2.3 million square metres. We own, manage and develop centrally located office and retail properties in Stockholm, Gothenburg, Malmö and Uppsala. The majority of the portfolio is located in Stockholm. The market value of our property portfolio totals around SEK 156 billion. The number of employees is approximately 310. Environment and climate work are highly prioritized. Vasakronan is a carbon neutral company and is ISO 14001 certified. We were Sweden’s first property company to offer green leases and in 2013 we issued the world's first green corporate bond. Vasakronan is jointly owned by the First, Second, Third and Fourth Swedish National Pension Funds.


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