New objectives for Wallenstam

New objectives for Wallenstam Wallenstam has refined its business philosophy with a modified business idea and new financial objectives. "We have now reached the point where we will achieve the group objectives we set up five years ago, including the target of a SEK 100 million property management profit before depreciation. By focusing on our objectives, we have been able to deliver on our promises and it is now time for us to present Wallenstam's refined business concept," says Hans Wallenstam, Managing Director. Business idea "With a well-balanced property portfolio, to continue to acquire, manage, refurbish and sell properties. The objective shall be to supply a changing market with suitable residential housing and commercial premises in major urban regions." Financial objectives * The net asset value to be more than SEK 200 per share by 2005. * The profit from property management to be at least SEK 140 million* by 2005. * The return on reported equity to be more than 10% per year. *SEK 140 million is the profit after depreciation in contrast to the present objective for the profit from property management, which is based on the profit before depreciation. As Wallenstam will be working to reach new objectives in the years immediately ahead, the board of directors has decided to offer an option program to the employees in the Wallenstam Group. The content of the program is currently being worked out and will be presented in more detail later this autumn. Lennart Wallenstam Byggnads AB Gothenburg, 15 November, 2000 For further information, please contact Lennart Ekelund, Finance Director, phone +46 31 200 000 or +46 705 171 139. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/11/15/20001115BIT00100/bit0001.doc http://www.bit.se/bitonline/2000/11/15/20001115BIT00100/bit0002.pdf