Press releases from Kungsleden

Kungsleden lets 3,900 sq.m. to F&S in Eskilstuna

Fri, 03 May 2013 09:30:00 +0100

The upper floor became vacant last autumn when furniture retailer Bernhardssons Möbler moved out, closing its store. Kungsleden is now converting and adapting these premises for Friskis & Svettis, which is scheduled to move in in April 2014. Friskis& Svettis expects to expand its operations in these premises.

With a new tenant in the building, Kungsleden’s objective is to convert the property to food retailing and fitness, which will create a new image for Sveaplan Municipal Centre. Kungsleden is also working on changing the zoning plan for this district, and securing building permits for new housing.

“Kungsleden’s new strategy also includes working on project and property development. I view work on this property in Eskilstuna as a good example of this, and the development of new building permits is also part of value creation,” commented Kungsleden’s Interim Chief Executive Anders Kvist.

]]>

Platform for Kungsleden's continued focus in place

Fri, 26 Apr 2013 08:00:00 +0100

RESULTS IN BRIEF
Interim period (January–March)

Net sales decreased by 12 per cent to SEK 487 (556) m and gross profit reduced by 8 per cent to SEK 281 (305) m due to a smaller property portfolio.
Profit from property management was SEK 88 (117) m, equivalent to SEK 0.60 (0.85) per share.
Profit before tax was SEK 236 (374) m, and SEK 208 (113) m after tax, or SEK 1.50 (0.80) per share. The profit increase after tax is mainly due to the first quarter 2012 being charged with a large provision for tax risks.
Cash flow from operating activities was SEK 131 (120) m, or SEK 1.00 (0.90) per share.
The property portfolio as of 31 March 2013 consisted of 278 (278) properties with a book value of SEK 15,823 (15,777) m.

SIGNIFICANT EVENTS
Interim period (January–March)

On 15 February 2013, Kungsleden transferred possession of the shares of Hemsö to AP3 (the Third Swedish National Pension Fund), which also redeemed a shareholder loan. Accordingly, Kungsleden significantly strengthened its liquidity. Simultaneously, Kungsleden took possession of 11 properties purchased from Hemsö for SEK 1,549 m.
No properties were purchased or sold in the first quarter.
In anticipation of planned property purchases, Kungsleden made substantial repayments on interest-bearing loans.
Thomas Erséus resigned as Chief Executive of Kungsleden and left the company coincident with the Annual General Meeting on 18 April.

After the end of the period

Anders Kvist was appointed Interim Chief Executive of Kungsleden, effective 19 April.

A COMMENT FROM ANDERS
Kungsleden took the first steps in implementing its new strategy in the first quarter. The sale of its interest in Hemsö was completed, which significantly strengthened Kungsleden’s liquidity. Simultaneously, the company took possession of the 11 properties, worth SEK 1.5 billion, which were purchased from Hemsö. Kungsleden is now engaged in goal-oriented efforts to identify and evaluate other appropriate acquisition opportunities. Kungsleden has the capacity to purchase properties with a value of SEK 4 billion over the next 12 months, but we are allowing the search and purchase process to take the time necessary to achieve a positive outcome. In this period, the liquidity freed up is being invested by amortising bank borrowings, which will result in lower interest costs over time.

Results for the quarter The property portfolio was smaller than in the first quarter of last year as a result of property sales in the course of 2012. Accordingly, in the first quarter, net sales decreased by 12 per cent to SEK 487 m. However, in like-for-like portfolio terms, rents held up well, and vacancies continued to decrease somewhat.

Lower rental revenues due to a smaller portfolio also fed through to gross profit, which fell by 8 per cent to SEK 281 m. A long and severe winter, which increased costs, mainly for heating, contributed to the downturn.

With Kungsleden’s new strategy, profit from property management is now the most important earnings indicator, which accurately reflects the long-term value creation and fundamental cash flow. Profit from property management consists of gross profit less costs for central administration and net financial items. The profit from property management for the quarter was SEK 88 m, down SEK 29 m year on year, mainly due to a decrease in gross profit.

In the quarter, Kungsleden commenced its cost reduction programme. The target is to downscale the central cost base by approximately 10 per cent on 2012, with full impact by 2014. The company has made good progress after the first quarter in terms of the underlying trend. Sales and administration costs for the first quarter were SEK 52 m, which although up SEK 4 m on the previous year, also includes a non-recurring cost of SEK 9 m for salary and other personnel costs for the departing Chief Executive.

The net financial position is consistent with the corresponding period of the previous year. Lower interest costs after amortisation and downscaling the swap portfolio affected this cost item positively, while items including higher bank margins from re-financing last year had a negative effect.

Profit for the period after tax was SEK 208 m, against SEK 113 m for the corresponding period of 2012. Profit for the first quarter 2012 was charged with provisioning for tax risks.

Lettings market Kungsleden’s lettings market remains stable. The company is focusing on industrial/warehouse, office and retail properties in Greater Stockholm, Mälaren Valley, south-western Sweden and growth locations in northern Sweden. These are segments and regions that exhibit high total yields and low market risk historically. Kungsleden has reported positive net letting in recent years. However, net letting was negative in the first quarter of the year, at SEK –5 m, but we are still optimistic regarding our lettings business. In terms of results, the trend remains positive because positive net lettings in the previous quarter are greater than this quarter’s negative figure, and there is a time delay between new signings/terminated contracts and the actual rental period.

Tax position and financial capacity No major changes occurred on the tax front in the quarter. Kungsleden judges that the risks in the company’s current tax proceedings have not changed since the previous quarter. Negative rulings were received from the administrative court level on tax cases regarding impairment of lagerandelar1 in March, for more information, see pages 10–11. Another case that the Administrative Court of Appeal ruled against Kungsleden in 2012 took legal effect in April 2013 when the Supreme Administrative Court rejected leave of appeal.

The sale of Hemsö freed up funds that enable Kungsleden to maintain a contingency to satisfy the potential liquidity requirement from ongoing tax proceedings. Temporarily, this liquidity has been used to amortise borrowings, but Kungsleden has agreed with its banks that its credit facilities can be drawn down again as required. The liquidity contingency for this purpose is currently SEK 2.9 billion.

Outlook All of Kungsleden’s focus is now on executing its new strategy. Within the company, we are full of confidence that in the long term, Kungsleden will be able to create shareholder value by managing, improving and purchasing properties. The company has had a strong principal owner for some time now. This ensures stability and a long-term approach.

We are now focusing on investing in properties on those partial markets that are returning sustainable and stable turnover over time. In a horizon of several years, we may make SEK 5–6 billion of investments. We regard supply on the market as fully sufficient, and we are noting good investment opportunities in medium-risk properties with property yields of between 7.0 and 8.5 per cent.

We will be working on our net financial position and reducing administration costs. Through these measures, and the results we generate from a larger property portfolio, we intend to achieve our target of restoring cash flow from the period when Kungsleden held 50 per cent of Hemsö within 18–24 months.

Anders Kvist
Interim Chief Executive

]]>

Kungsleden’s Annual General Meeting 2013

Fri, 19 Apr 2013 08:00:00 +0100

In his address to the AGM, Chief Executive Thomas Erséus reviewed the financial year 2012 and current market conditions. The Chief Executive’s address was recorded on video, and will be available at Kungsleden’s website, www.kungsleden.se, from 19 April 2013 onwards.

The AGM discharged the Board members and Chief Executive from liability for the financial year 2012.

The Meeting resolved to increase the number of Board members from seven to eight.

The following Board members were re-elected: Joachim Gahm, Lars Holmgren, Kia Orback Pettersson, Biljana Pehrsson and Charlotta Wikström. Göran Larsson, Magnus Fernqvist and Peter Gustafson were elected as Board members. Göran Larsson was also elected as Chairman of the Board.

Håkan Bryngelson and Magnus Meyer had declined re-election.

The Meeting appointed Chairman of the Board Göran Larsson, nominated by Gösta Welandson and companies, Eva Gottfridsdotter-Nilsson, nominated by Länsförsäkringar Asset Management, Charlotta Wikström, nominated by Olle Florén and companies, and Martin Jonasson, nominated by AP2 (the Second Swedish National Pension Fund) as members of the Nomination Committee.

The Meeting adopted the Board of Directors’ proposal on remuneration guidelines for senior managers.

The Meeting approved the Board of Directors’ proposal to authorise the Board to make decisions on one or more occasions until the next AGM, to repurchase that total number of shares such that the company’s holdings do not exceed 10 per cent of all the shares of the company at any time. Repurchases of shares shall be on NASDAQ OMX Stockholm, and may only be executed at a price within the quoted price interval on each occasion, which means the interval between the highest bid price and lowest offer price. The purpose of this authorisation is for the Board to attain the flexibility to enable decision-making regarding an altered capital structure on a continuous basis, and thus contribute to increased shareholder value.

]]>

Anders Kvist becomes Kungsleden’s Interim Chief Executive

Tue, 16 Apr 2013 08:00:00 +0100

]]>

Kungsleden publishes Annual Report for 2012

Thu, 28 Mar 2013 08:00:00 +0100

The printed version of the annual report will be distributed to shareholders and other stakeholders during the first week of April. It can also be ordered through the Kungsleden website at www.kungsleden.se/financialreports or telephone +46 8 503 052 00.

]]>

Kungsleden´s Head of HR & Communications appointed new CEO of Springtime

Fri, 22 Mar 2013 11:00:00 +0100

"Since 2007, Cecilia has been an important part of Kungleden´s management. She has strengthened Kungsleden´s brand and has been a driving force in building a corporate culture which is well anchored within the company and which has resulted in Kungsleden winning several awards for high employee commitment. I want to thank Cecilia for her efforts and wish her the best of luck in the future”, says Thomas Ersésus, CEO of Kungsleden.

Cecilia Gannedahl will take up her new position on June 1st, 2013.

]]>

Energy consumption cut of 63% gains Kungsleden GreenBuilding certification

Mon, 18 Mar 2013 08:00:00 +0100

This change of heat source reduced energy consumption by 63% and CO2 emissions by 99%. The requirement for GreenBuilding certification is for energy consumption to reduce by at least 25% or energy consumption 25% below Swedish new-production standards for energy. Three Kungsleden properties were already GreenBuilding certified.

In absolute terms, Kungsleden has more than halved the CO2 emissions of its operations in recent years, in goal-oriented energy-saving work, which reviews all properties annually. The company purchases hydropower with certified origin from Harrsele power station in Umeälven river, northern Sweden.

“Often, GreenBuilding-accredited properties are city centre buildings. But Kungsleden is demonstrating that warehouse premises can also secure this prestigious environmental accreditation, which is a win-win for us, the tenant and the environment,” commented Kungsleden’s Environmental Manager, Maria Sandell.

Northern European commercial property firm Newsec judges that environmentally-accredited properties will become more attractive as more tenants are environmentally aware, who will actually make operating in sustainable premises a requirement.

]]>

Kungsleden has received negative tax rulings

Tue, 12 Mar 2013 17:45:00 +0100

Kungsleden has not provided against the current tax rulings. The financial effects are however included in the estimate of maximum negative effects which Kungsleden has previously communicated.

Earnings effect
The effect on earnings will be, in a final negative outcome, approximately 1 580 MSEK, including interest.

Liquidity effect
The liquidity effect will be, in a final negative outcome, approximately 1 400 MSEK, including interest.

The timing of the effects depends on when Kungsleden´s tax cases are definitely ruled on by the courts.

Estimate of maximum negative effects in tax cases
Kungsleden estimate of maximum negative effects in tax cases remains unchanged and is summarized in the table below.

MSEK	Effect on equity	Effect on liquidity
Provision, Q2 2009	325	0
Provision, Q2 2012	725	260
Deposited in anticipation of ruling	-	-100
Total provision for tax cases	1 050	160
Tax cases not provisioned	2 930	2 920
Deposited in anticipation of ruling	-	-160
Total	3 980	2 920

Kungsleden´s opinion
Kungsleden´s opinion remains that the company has fully complied with the laws and practice in place when submitting each tax return. Kungsleden does not agree with the decision made by the administrative court and therefore intends to appeal the tax rulings to the administrative court of appeal.

]]>

Invitation to the Annual General Meeting of Kungsleden AB (publ)

Tue, 12 Mar 2013 09:00:00 +0100

For the election of the Board of Directors, the Nomination Committee has proposed the election of Magnus Fernqvist, Peter Gustafson and Göran Larsson, and the re-election of Joachim Gahm, Lars Holmgren, Kia Orback Pettersson, Biljana Pehrsson and Charlotta Wikström. The Nomination Committee is proposing that Göran Larsson is elected Chairman of the Board. Board members Håkan Bryngelson and Magnus Meyer have declined re-election.

Håkan Bryngelson
Kungsleden AB (publ)

Appendix: Invitation to Annual General Meeting

]]>

Nomination Committee proposal for Kungsleden’s Board of Directors

Fri, 22 Feb 2013 14:30:00 +0100

Håkan Bryngelson and Magnus Meyer have notified the Nomination Committee that they are not available for re-election.

Göran Larsson is the Chairman of the Board of Bertegruppen AB, Danir AB, Hestrahandsken AB, Hestravikens Värdshus AB and Studentlitteratur AB. In 1989-2002, he was a Board member, Chief Operating Officer and Deputy Chief Executive Officer of Östgöta Enskilda Bank, and in 1983-1987, Chief Operating Officer of Gota Bank. Previous directorships include Klövern AB, Realia AB and Wihlborgs Fastigheter AB. Göran Larsson holds an M.Pol.Sc.

Magnus Fernqvist is Chief Executive Officer and owner of Magne Group and his directorships include AB Adlon Hotell, Trollhättan Property Investors AB and HF Omsorgsfastigheter AB. Previous positions include being a Real Estate Manager for Consolidatorgruppen. Magnus Fernqvist holds an LL.M.

Peter Gustafson is Chief Executive Officer and owner of Green Capital Partners AB. Previous positions include being a Director of HSH Nordbank AG, Head of Real Estate-related Corporate Finance for the Nordic Region, Partner of Arthur Andersen/Deloitte and Head of Real Estate-related Corporate Finance for the Nordic Region, as well as Nordic Business Development Manager of Catella AB. Peter Gustafson holds a BSc (Econ).

The members of Kungsleden’s Nomination Committee are Eva Gottfridsdotter-Nilsson (Chairman) nominated by Länsförsäkringar Fondförvaltning, Göran Larsson nominated by Gösta Welandson and companies, Peter Gustafson nominated by Olle Florén and companies, Peter van Berlekom nominated by Nordea Fonder and Chairman of the Board Håkan Bryngelson.

The Nomination Committee’s complete proposals for resolution by the AGM 2013, more information on the proposed Board members and a report on the work of the Nomination Committee will be presented by no later than in tandem with the publication of the invitation to the AGM.

]]>

The fourth quarter marked a turning-point for Kungsleden strategically and financially—Chief Executive handing over the reins

Fri, 15 Feb 2013 08:00:00 +0100

We strengthened our property management activities further in 2012, and executed a number of transactions late in the year with good results, which improve Kungsleden’s property portfolio. The sale of our holdings in Hemsö in the fourth quarter brought Kungsleden greater financial flexibility, as well as the security to manage a potential worst case in the tax proceedings we are involved in.

“After tax risks and the effects of high fixed borrowing rates in recent years compelled us to adopt a more defensive attitude, we were able to leave 2012 well positioned to execute the strategic realignment the Board of Directors and management had been working on in the year—a realignment focused on long-term value creation through managing and enhancing wholly owned properties. Against this background, and after nearly seven years leading Kungsleden, this is an appropriate time for me to hand over to someone new. Accordingly, I will be leaving Kungsleden in tandem with the AGM on 18 April.” commented Kungsleden’s Chief Executive Thomas Erséus.

RESULTS IN BRIEF
Full year 2012

Net sales increased by 3 per cent to SEK 2,110 (2,047) m and gross profit increased by 4 per cent to SEK 1,328 (1,277) m with a larger property portfolio.
Profit before tax was SEK 1,165 (693) m and profit after tax was SEK 352 (638) m, or SEK 2.60 (4.70) per share. The decrease in profit after tax is mainly due to provisions for tax risks, while profit before tax increased due to the sale of the Hemsö Fastighets AB shares.
Cash flow from operating activities was SEK 163 (585) m.
Profit for calculating dividends for the full year 2012 was SEK 1,917 (703) m, corresponding to SEK 14.00 (5.20) per share.
As of 31 December 2012, the property portfolio consisted of 278 (324) properties with a book value of SEK 15,777 (15,693) m.
The Board of Directors is proposing a dividend of SEK 1.00 (2.60) per share. This marks a change from the previous stated intention, of not proposing a dividend. Even if uncertainty regarding tax proceedings persists, the Board of Directors considers that financial strength has increased significantly after the sale of Hemsö.

Fourth quarter (October – December)

Net sales decreased by 10 per cent to SEK 494 (550) m and gross profit decreased by 8 per cent to SEK 309 (336) m as a result of a smaller property portfolio. The operating surplus margin increased by just over 1 per cent to 69.7 (68.4) per cent.
Profit before tax amounted to SEK 677 (348) m and profit after tax was SEK 923 (303) m, or SEK 6.80 (2.20) per share. The profit increase was attributable to the sale of Hemsö.
Cash flow from operating activities was SEK 66 (136) m.

SIGNIFICANT EVENTS
Full year 2012

59 (18) properties were sold for SEK 1,666 (1,199) m with a profit of SEK 16 (56) m. Sales affected profit for calculating dividends by SEK 125 (114) m. 11 (44) properties were purchased for SEK 1,549 (4,200) m after deducting for deferred tax.
Tax rulings affecting Kungsleden and external companies increased the risk of negative outcomes for Kungsleden in a number of ongoing tax proceedings. Accordingly, SEK 340 m of provisioning was charged to profit for calculating dividends, and a tax cost of SEK 985 m was charged to the Income Statement.
A major portion of the loan portfolio was refinanced in the year. Current credits and credit facilities have an average maturity of 2.2 years.

Fourth quarter (October – December)

Kungsleden reached an agreement to sell the remaining 50 per cent of the shares of Hemsö to AP3 (the Third Swedish National Pension Fund) including repayment of a shareholder loan for a total purchase price of SEK 3,320 m. This transaction created a capital gain of SEK 631 m and affected profit for calculating dividends by SEK 1,507 m. Kungsleden simultaneously purchased 11 properties from Hemsö for SEK 1,549 m, at a property yield of 7.0 per cent.
15 (14) properties were sold for SEK 552 (1,019) m with zero profit, against a gain of SEK 22 m in the previous year. The biggest sales transaction was of 9 properties in Stockholm and Malmö to Castellum for SEK 380 m. 11 (3) properties were purchased for SEK 1,549 (11) m.

After the end of the period

On 15 February 2013, Kungsleden will transfer possession of Hemsö shares to AP3 as planned, and will also receive repayment of its shareholder loan. Simultaneously, Kungsleden will take possession of 11 properties purchased from Hemsö for SEK 1,549 m. These properties will be financed through raising borrowings of SEK 1,017 m and SEK 532 m from cash reserves.

The details of the previously communicated strategy process were finalised in the first quarter of 2013. This has implications including:

The overall target is to maximise cash flow growth within the financial restrictions set, to secure a healthy balance sheet in the short and long term:

Liquidity contingency (cash and available credit facilities of SEK 2.9 billion, corresponding to the worst case of tax proceedings until the company has gained clarity as to the outcome)
Loan to value ratio 60 per cent for new credits
The equity ratio should be over 30 per cent

The return on equity target of 15 per cent is difficult to attain. In current market conditions, a return on equity of less than 10-12 per cent is not expected.
Review of central costs to generate a saving of 10 per cent.

The Board intends to transfer to a new dividend policy from 2013 onwards, which should better reflect Kungsleden’s long-term value creation. Profit for calculating dividends will no longer be a target.
Thomas Erséus has resigned as Chief Executive of Kungsleden and will be leaving the company in tandem with the AGM on 18 April.

A COMMENT FROM THOMAS
Kungsleden is completing the sale of the remaining shares of Hemsö in February, which marks a turning-point for the company strategically and financially. Both our wholly owned properties and modular lettings produced higher gross profits, and Kungsleden’s lettings market demonstrated its resilience in weaker economic conditions.

We reinforced our property management operation further in 2012, and completed a number of transactions, with good results, late in the year, which enhance Kungsleden’s property portfolio. By selling our holding in Hemsö in the fourth quarter, Kungsleden attained greater financial flexibility and the security to cope with a potential worst case for the tax proceedings we are involved in. After tax risks and the effects of high fixed borrowing rates in recent years compelled us to adopt a more defensive attitude, we were able to leave 2012 well positioned to execute the strategic realignment the Board of Directors and management had been working on in the year—a realignment focused on long-term value creation through managing and enhancing wholly owned properties.

Against this background, and after nearly seven years leading Kungsleden, this is an appropriate time for me to hand over to someone new. Accordingly, I will be leaving Kungsleden in tandem with the AGM on 18 April.

Results for the quarter Over the past five quarters, Kungsleden has been a net seller of properties, which for the fourth quarter 2012, is evident in sales decreasing by 10 per cent year on year. Gross profit was down 8 per cent. However, the operating surplus margin improved by 1 percentage point to nearly 70 per cent. Profit after tax increased by SEK 533 m as a consequence of us selling our holdings in Hemsö. Undoubtedly, the Hemsö sale was the highlight of the quarter. The transaction is significant in two senses. Firstly, it finally realises the substantial values we have created for Kungsleden’s shareholders over the past 11 years by building and developing a portfolio of social services properties. Secondly, we could free up funds tied up in Hemsö, increasing our financial readiness, and enabling us to invest in wholly owned properties in accordance with our new strategy. In the short term, the sale means Kungsleden losing earnings from Hemsö, but over time, the reinvestment of freed up funds will generate increased profits. In tandem with this transaction, Kungsleden purchased 11 properties from Hemsö for SEK 1.5 billion, which even in the short term, will start to make up for the lost earnings.

A summary of 2012 Kungsleden continued to build values in property management in the year by attracting good tenants, as well as endeavouring to secure long lease contracts and high occupancy levels. Even if economic progress in Europe and Sweden featured uncertainty, Kungsleden’s lettings market proved resilient. Net lettings for the year were positive, at SEK 15 m, and new lettings increased to SEK 80 m.
Profits from property management, which indicate the company’s gross profit less net financial items and sales and administration costs, increased by 2 per cent to SEK 485 m. This is a lower rate of increase than previously in the year, as the effect of the large-scale property purchase in the second quarter 2011 is now starting to taper off in the comparative figures.

Further down in the Income Statement, there were effects that partly cancelled each other out in the year. The unrealised value increases on properties were lower this year, while on the other hand, the negative unrealised value changes on financial instruments were significantly lower than the previous year. Overall, profit before tax increased sharply for the full year, amounting to SEK 1,165 (693) but decreased after tax to SEK 352 (638) m, after having been charged with SEK 985 m of tax provisions in the first half-year.

Our portfolio optimisation process continued in 2012. The Swedish transaction market concluded the year on a brisk fourth quarter, largely due to large transactions in city centre locations, and our own sale of the remaining holdings in Hemsö. For Kungsleden’s part, the transaction market brightened through the autumn, when access to funding eased, and lending terms improved somewhat. In total for the year, 59 properties were sold with a value of just over SEK 1,600 m. Two of the larger property sales were 39 properties for SEK 912 m in the third quarter, and a package of nine properties for SEK 380 m in the fourth quarter.

Outlook going forward Through the autumn and winter, the Board and management worked on preparing a new strategy for the company. I think the result is really positive, and in the spring, work will move to an implementation phase.

Executing this change and ensuring the company gets the full pay-off from the transition is a fairly long-term commitment, and accordingly, a task for the new Chief Executive. My time at Kungsleden has been exciting and interesting. I was appointed at the end of a strong economic upturn, when there were a lot of transactions. I’m leaving after a period when we’ve focused sharply on property management and enhancing our properties. I think these initiatives have been successful, and we have reason to be proud of them. We’ve also had to manage a number of tax proceedings from previous transactions and high fixed interest costs. Our share price has been negatively affected by the tax risks, but underlying property values in Kungsleden have grown, and SEK 5.5 billion has been transferred to shareholders through dividends and redemptions.

From 2013 onwards, the Board of Directors intends to adopt a new dividend policy to better reflect Kungsleden’s long-term value creation. In a few years’ time, when Kungsleden’s definitive tax position is clear, the target is for dividends to amount to 50 per cent of profit from property management. However, in the coming years, dividends will be lower and adapted to the need for liquidity contingency and investments in properties for future earnings. Thanks to Kungsleden’s increased financial strength after the sale of Hemsö, the Board of Directors is proposing a dividend of SEK 1 per share for 2012, instead of the previous intention to cancel the dividend.

Thomas Erséus
Chief Executive

]]>

Invitation to a presentation of Kungsleden’s Financial Statement and strategy

Thu, 07 Feb 2013 13:30:00 +0100

All presentations will be available at kungsleden.se/financialreports.

Agenda, Financial Statement presentation (in Swedish)

12 noon – 2 p.m. Kungsleden’s Chief Executive Thomas Erséus and Deputy Chief Executive/CFO Anders Kvist present the Financial Statement for 2012, and the key points of the new strategy.

Lunch will be served at 12 noon.

Address: Operaterassen, Karl XII:S torg, Stockholm, Sweden

Please notify us of your attendance of the Financial Statement presentation and lunch at http://www.financialhearings.com/.

Conference call (in English)

A conference call for English-speaking participants will be held at 2:30 p.m. on 15 February, when Kungsleden’s Chief Executive Thomas Erséus and our Deputy Chief Executive/CFO Anders Kvist will present the key points of the financial statement and our new strategy.

To join the conference call:

SE: +46 (0)8 505 56476

UK: +44 (0)203 364 5374.

We look forward to you joining us.

]]>

Kungsleden sells a property for SEK 39 m

Thu, 20 Dec 2012 08:00:00 +0100

This office property is located in Sollentuna, north of Stockholm. Gross leasable area is about 4,000 sq.m. over five floors.

Completion is scheduled for 1 February 2013.

“The good work done by our management organisation has enabled us to sell this property at a good profit now. The building was constructed in 1988 and was purchased by Kungsleden in 2006, when it had substantial vacancies. The property has been developed since and is now fully let”, commented Kungsleden’s Chief Executive Thomas Erséus.

Sollentuna Ringpärmen 5

]]>

Change to Kungsleden’s Nomination Committee

Wed, 19 Dec 2012 09:00:00 +0100

Kungsleden’s Nomination Committee now has the following members: Peter Gustafson, representing Olle Florén and companies (Chairman), Eva Gottfridsdotter-Nilsson, representing Länsförsäkringar Fondförvaltning, Peter van Berlekom representing Nordea Fonder, Göran Larsson representing Gösta Welandson and companies and Chairman of the Board Håkan Bryngelson.

]]>

Kungsleden selling properties for SEK 50 m

Tue, 18 Dec 2012 08:00:00 +0100

One of the properties is in Kungsbacka, south of Gothenburg, is fully let and has area of around 4,700 sq.m. of which 61 percent is warehousing, the remainder being offices. The second is an industrial property of some 6,000 sq.m. located in Bollnäs, north of Stockholm, which is also fully let.

Both these properties have been purchased by local landlords, but in two separate transactions.

The transaction in Bollnäs is complete, and completion on the transaction in Kungsbacka is scheduled for 2 January 2013.

“We’re continuing our work on portfolio optimisation, and are selling these properties at good levels,” commented Kungsleden’s Chief Executive Thomas Erséus.

Kungsbacka Varla 2:390

Bollnäs Säversta 8:28

]]>

Kungsleden sells properties and upgrades estimate

Mon, 17 Dec 2012 08:00:00 +0100

Six of these properties are located in Greater Stockholm and three are in Malmö. The property portfolio has gross leasable area of about 40,500 sq.m., divided 55% warehousing, 38% offices and 7% retail. The site-leasehold right in Malmö is undeveloped.

The sale of the properties means Kungsleden upgrading its estimate from the SEK 1, 800m previously reported. The new estimate for the full year 2012 is SEK 1, 850m.

The purchaser is Castellum through subsidiaries Brostaden and Briggen, and completion is scheduled for 21 December 2012.

“I’m very satisfied with this deal as we are selling at a good price and with a very good profit. This is part of our portfolio optimization and we see opportunities for better returns. These properties are well let, and the timing of their sale is optimal,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden sells 50% stake in Hemsö, signs agreement on property purchase, upgrades estimate

Fri, 14 Dec 2012 13:00:00 +0100

Sale of shareholding

The price of the shareholding exceeds its book value by about SEK 650 m including transaction costs. In total, shareholders’ equity increases by about SEK 850 m, after items including a tax effect of around SEK 200 m. The sale affects profit for calculating dividends for 2012 by about SEK 1,500 m.

This transaction is part of implementing Kungsleden’s new strategy, the key characteristics of which were communicated in the Third-quarter Interim Report. The sale is a component of focusing business operations on wholly owned properties in Sweden’s growth regions.

This transaction enhances Kungsleden’s financial flexibility. In connection with a capital markets day early next year, Kungsleden will offer more detail on how it will be investing this freed-up capital within the auspices of its new strategy.

Completion is scheduled for 15 February 2013. Kungsleden will be able to include its share of profits from property management from Hemsö until this date.

Property purchase

In tandem with the share transaction, Kungsleden and Hemsö are signing an agreement for Kungsleden to purchase 15 properties for community services with significant office and retail accommodation. Total rental value amounts to SEK 165 m and gross leasable area is about 147,000 sq.m. These properties are located in central Sweden and on the island of Gotland. They generate stable cash flow with long-term contracts and stable counterparties. Remaining contract terms amount to eight years.

Liquidity effect

The direct effect of the sale of the shares, the loan repayment and property purchases consolidates Kungsleden’s liquidity of SEK 1,750 m. In addition, the properties generate increased loan to value capacity of over SEK 900 m.

New estimate

The sale of the shareholding in Hemsö means Kungsleden upgrading its estimate from the SEK 300 m previously reported. The new estimate for the full year 2012 is SEK 1,800 m.

“I’m very satisfied that we’ve now sold our holdings in Hemsö and have done a good deal. The build-up and development of properties for community services has been positive for Kungsleden and I’m pleased about the shareholder value created. AP3 is a solid and strong owner of this holding. Kungsleden will continue to progress in line with our new strategy and I see good potential in today’s market,” commented Kungsleden’s Chief Executive Thomas Erséus.

The equity transaction is subject to approval by the Swedish Competition Agency and the property transaction to customary “access conditions” and the transactions are expected to be completed during the first quarter of 2013.

Pangea Property Partners and Mannheimer Swartling Advokatbyrå have acted as advisers.

]]>

Kungsleden issues update on previously reported statement of opinion on tax

Wed, 28 Nov 2012 11:55:00 +0100

As previously reported, Kungsleden is contesting this tax claim and intends to file an appeal against this decision at the administrative court level. In fiscal terms, this is a problematic and untried issue, and there is no practice in place in this area, as corroborated by the Swedish Tax Agency halving its tax surcharge on the decision in relation to its statement of opinion. Kungsleden judges that this decision will not conclude in a negative outcome, and accordingly, no provisioning has been made.

Profit and liquidity effect

In a negative outcome in this case, the estimated profit effect for Kungsleden would be SEK 1,380 m and the estimated liquidity effect would be SEK 1,360 m, which can be set against the previous judgement of SEK 1,700 m and SEK 1,650 m, as Kungsleden stated in its Third-quarter Interim Report based on the Swedish Tax Agency’s initial statement of opinion. In its decision, the Swedish Tax Agency has permitted deductions for a portion of the transaction costs and halved the tax surcharge, which explains the decrease in relation to the statement of opinion.

Estimates of maximum negative effects

Due to the Swedish Tax Agency’s aforementioned decision, and the Swedish Parliamentary decision on a reduced corporation tax rate effective 1 January 2013, Kungsleden has updated its computation of a maximum negative effect if all proceedings are found against it.

The maximum negative effect on equity would be SEK 2,790 m in addition to provisions of SEK 1,050 m. Simultaneously, the maximum outstanding negative liquidity effect including tax surcharge and interest is estimated at SEK 2,920 m. These estimated effects have been reduced by SEK 290 m and SEK 280 m respectively. The amounts were positively affected by the decision reported in relation to the statement of opinion, and to a lesser, negative extent, by the reduced corporation tax rate for measuring loss carry-forwards in un-provisioned proceedings.

SEK m	Effect on equity	Liquidity effect
Provision, Q2 2009	325	0
Provision, Q2 2012	725	260
Deposited in anticipation of ruling	-	- 100
Total provision for tax cases	1 050	160
Tax cases not provisioned	2 790	2 920
Deposited in anticipation of ruling	-	-160
Total	3 840	2 920

]]>

Hemsö acquires patient accommodation in Danderyd, north of Stockholm, for SEK 70 m

Tue, 20 Nov 2012 08:00:00 +0100

The property yield is approximately 6.2 %. Hemsö is 50:50 owned by listed Swedish property company Kungsleden AB (publ) and AP3 (the Swedish Third Pension Insurance Fund).

Leasable area is about 3,200 sq.m. The Stockholm County Health Authority is letting the property on a 15-year contract. Completion was on 19 November 2012.

]]>

Hemsö purchases two properties for SEK 255 m

Wed, 31 Oct 2012 08:00:00 +0100

Hemsö is 50:50 joint owned by listed Swedish property company Kungsleden AB (publ) and AP3 (the Swedish Third Pension Insurance Fund).

The first property is a retirement home in Berlin, Germany, with leasable area of around 6,950 sq.m. The remaining contract term is 16 years and completion is scheduled for 1 January 2013.

The second property is a local police station with leasable area of approx. 3,550 sq.m. in Malmö. The Swedish Police Service is letting this newly built police station on a 15-year lease contract. Completion will be in December 2012.

]]>

Profits from property management remain strong, Kungsleden well prepared for potential tax rulings

Thu, 25 Oct 2012 08:00:00 +0100

RESULTS IN BRIEF

The interim period (January–September)

Net sales increased by 8 per cent to SEK 1,616 (1,497) m and gross profit increased by 8 per cent to SEK 1,019 (941) m with a larger property portfolio.
Profit before tax was SEK 488 (345) m. Profit after tax was SEK –571 (335) m, or SEK –4.20 (2.50) per share. The profit decrease is mainly due to provisioning for tax costs and lower profits from Hemsö, which reported lower unrealised value changes on properties.
Cash flow from operating activities was SEK 97 (449) m.
Profit for calculating dividends for the period was SEK 185 (462) m, equivalent to SEK 1.40 (3.40) per share.
As of 30 September 2012, the property portfolio consisted of 281 (324) properties with a book value of SEK 14,779 (15,693) m.
Estimated profit for calculating dividends for the full year 2012 is unchanged at SEK 300 m, or SEK 2.20 per share.

Third quarter (July–September)

Net sales decreased by 10 per cent to SEK 499 (554) m and gross profit decreased by 10 per cent to SEK 347 (385) m as a result of a smaller property portfolio.
The loss before tax amounted to SEK –42 (–247) m. The loss after tax was SEK –13 (–173) m, or SEK –0.10 (–1.30) per share. For both periods, the loss is due to unrealised value changes on financial instruments.
Cash flow from operating activities was SEK –146 (144) m.
Profit for calculating dividends for the third quarter was SEK 240 (239) m, equivalent to SEK 1.80 (1.70) per share.

SIGNIFICANT EVENTS

The interim period (January–September)

From 1 January 2012 onwards, the portfolio in Hemsö Fastighets AB is recognised according to the equity method. Compared to the proportional method, the results of operations and financial position from the holding in Hemsö are reported on an individual line.
Kungsleden sold 44 (4) properties for SEK 1,115 (179) m, generating a profit of SEK 17 (34) m. These sales affected profit for calculating dividends by SEK 46 (45) m. No properties were purchased, compared to 44 properties, for SEK 4,127 m in the corresponding period of 2011.
A number of tax rulings for Kungsleden companies and external companies increased the risk of a negative outcome for Kungsleden’s tax proceedings. Accordingly, profit for calculating dividends has been charged with SEK 340 m, and the Income Statement with a tax cost of SEK 985 m.
Kungsleden’s syndicated loan was rearranged with a new SEK 4,500 m facility in January, and additionally, further loans of SEK 2,894 m have been refinanced. Accordingly, basically all of Kungsleden’s refinancing requirement for 2012 is secured.

Third quarter (July–September)

Kungsleden sold 41 (1) properties for SEK 1,022 (133) m with a profit of SEK 0 (11) m. The largest sale was of 39 public properties in Härnösand to Hemsö, for SEK 912 m. These sales affected profit for calculating dividend by SEK 32 (17) m. No properties were purchased, compared to one property for SEK 24 m in the corresponding period of 2011.

After the end of the period

Kungsleden has received a statement of opinion from the Swedish Tax Agency, which questions the indirect sale of properties through Dutch subsidiaries in 2006. The reassessment of income could cause a liquidity effect of SEK 1,650 m and affect equity negatively by SEK 1,700 m. Kungsleden will be filing an appeal against potentially forthcoming decisions at the administrative court, and does not consider that the definitive outcome will be negative. Accordingly, there has been no provisioning for this.
Against the background of uncertainty regarding the outcome of tax proceedings, with the support of the dividend policy, the Board of Directors intends not to propose any share dividend, with the aim of increasing the company’s financial strength.
Three properties in Norrköping, Sollentuna and Västerås, were sold in three separate transactions for a total of SEK 84 m. The sales price exceeded book value by SEK 10 m and acquisition cost by SEK 17 m.

A COMMENT FROM THOMAS

Kungsleden’s profit from property management is still progressing well, even in the current market conditions. Kungsleden has stable tenants with long-term contracts. In the property portfolio we have held for the most recent two-year period, operating net, for example, has increased by 13 per cent as a result of increased rental revenues, lower costs and lower vacancies. In five years, the operating net of our commercial property portfolio has grown by nearly 25 per cent, or just less than SEK 100 per square metre.

Tax proceedings Despite the improvement in profit from property management in recent years, the stock market’s view of Kungsleden is heavily influenced by the ongoing tax disputes. The market wants us to indicate a worst-case scenario, and this is something we also want to provide.Now, the Swedish Tax Agency has issued a statement of opinion, which as far as we can judge, is the last matter that could influence a worst-case scenario of tax proceedings for the company.

With this case, and the information available to us at present, Kungsleden is not aware of any further cases that could imply new tax claims. If all cases we are currently aware of were to be ruled fully against us, we estimate the maximum negative effect on equity at SEK 3,080 m over and above the provisioning of SEK 1,050 m already made.Simultaneously, we estimate the maximum outstanding negative liquidity effect including tax surcharges and interest at SEK 3,200 m. Kungsleden’s firm opinion remains that the company has fully complied with the laws and practice in place when submitting each tax return. Against this background, we will complete an appeals procedure in each applicable case. It is reasonable to assume that these will be partly or wholly upheld in several cases.

Court rulings on tax cases will run for several years ahead, and mean that the final tax we may be required to pay will be allocated correspondingly over time. Accordingly, even in the worst-case scenario, the financing of these payments will be possible via ongoing cash flow, and the funds freed up as a result of us concentrating our strategy and focusing on managing wholly owned properties.

Details on our current tax position with provisioning, potential effects on equity and liquidity, are stated on page 10 of this Report.

Results for the period In the third quarter, net sales decreased to SEK 499 (554) m and gross profit to SEK 347 (385) m, mainly because of the sale of our Härnösand portfolio to Hemsö in August. Lower unrealised depreciation on financial instruments contributed to the profit/loss after tax for the quarter improving to SEK –13 (–173) m.

For the nine-month period, net sales increased by 8 per cent to SEK 1,616 (1,497) m compared to the corresponding period of the previous year, and gross profit increased by 8 per cent to SEK 1,019 (941) m. The increase in gross profit is explained by both the net effect of purchased and sold properties and an improvement of our portfolio in like-for-like terms. The net of properties on which purchases and sales were completed increased gross profit by SEK 38 m. In like-for-like terms, profit increased by SEK 40 m, mainly explained by increased rents and a milder winter in 2012.

For our wholly owned properties, i.e. excluding Hemsö and Nordic Modular, and also excluding those public properties sold in Härnösand, rental revenues increased by 12 per cent to SEK 1,143 (1,020) m and gross profit increased by 10 per cent to SEK 809 (731) m for the nine-month period.

Profit from property management, which also includes administration and funding, increased by 17 per cent to SEK 385 (330) m.

Active letting work contributed to new lettings with annual rental value of of SEK 63 m. Economic occupancy for the period was 89.6 per cent compared to 88.3 per cent in the previous year.

We saw signs of a deteriorating business cycle after the summer, but this has not noticeably affected that part of the lettings market where Kungsleden is active. As we previously stated, Kungsleden is late cyclical, which means there will be a delay before we are affected by variations in market sentiment.

Strategic review In light of the exogenous factors that affect the property market, and with the desire to concentrate our business, the Board of Directors and management have been working on reviewing Kungsleden’s strategy and direction for some time. The management of wholly owned properties has been a strong contributor to Kungsleden’s profits over time. This business is based on in-depth knowledge of property and close, long-term relationships with customers. In addition, property management offers stability in turbulent times. This business will be the core of Kungsleden’s strategy, where we will also be reviewing our diversification by region and property type. Accordingly, we are endeavouring for strategic concentration, and against this background, Hemsö and Nordic Modular—profitable businesses in their own right—will be sold when market conditions are right.

Estimate and dividend Fundamentally, Kungsleden is profitable and generates a profit for calculating dividends that enables attractive share dividends. We are reiterating our estimate of profit or calculating dividends, which is SEK 300 m for the full year. However, our dividend policy stipulates that we must also consider the company’s capital structure and position otherwise. Against the background of the current uncertainty regarding the outcome of tax proceedings, then with the support of the dividend policy, the Board of Directors does not intend to propose any dividend to the Annual General Meeting, with the aim of improving the company’s financial strength.

Thomas Erséus
Chief Executive

]]>

Change to Kungsleden’s Nomination Committee

Wed, 24 Oct 2012 15:00:00 +0100

]]>

Kungsleden realises property values in SEK 28 m land sale

Mon, 22 Oct 2012 13:00:00 +0100

This property is part of the Västerås portfolio, which Kungsleden purchased in 2001 and includes lots of about 12,000 sq.m., where a zoning plan process for housing has been ongoing for a few years. The new plan has come into legal effect and involves the development of over 30,000 sq.m. of housing, half of which are Kungsleden properties. Construction and civil engineering corporation Peab is buying the building plot from Kungsleden and completion has immediate effect.

“Through long-term efforts we’ve secured development rights, and thus been able to increase the value of this property. One of our core competences is restructuring property portfolios, realising their value and passing them on to someone else for further development,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden sells a property for SEK 40 m

Fri, 19 Oct 2012 13:00:00 +0100

The property is located approximately 20 km north of Stockholm and has leasable area of around 7,000 sq.m. divided between 3,400 sq.m. of offices on five floors, with the remainder being warehousing and other areas on one floor. The building was constructed as operating premises by Munters AB in 1981. A tenant is currently leasing some 20% of the area.

The property is being sold to a private investor that intends to develop the property further. Completion is scheduled for 14 December 2012.

“I’m really satisfied with this deal and that we’re selling at a good level,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden expands new lettings in Västerås, grows with the city

Tue, 16 Oct 2012 13:00:00 +0100

The vacancy rate on its property portfolio in the city is low at around 4.5%.

The Regional Museum of the County of Västmanland is a current tenant that is signing a 21-year contract and expanding its area by 1,300 sq.m. so it can grow in its premises. The Regional Museum has also signed a Green Lease on all its area, of about 3,000 sq.m. Cap Gemini will be moving into converted office premises of about 850 sq.m. located centrally, close to communications.

“The City of Västerås has been active in the location’s development process, which is positive for us as a landlord. Demand for premises in Västerås is growing, and we are noting increased interest in our premises. Our flexible working methods and short decision-paths enable us to satisfy varying needs in terms of size and premises type,” commented Thomas Erséus.

Increasing employment levels in Västerås are bringing generally growing demand for properties in the Municipality. Commuting into the Municipality has increased steadily since the 1990s, causing greater need for centrally located premises close to communications. As a local labour market region, Västerås has a population of about 230,000, of which some 140,000 in the Municipality of Västerås*. Västerås is expected to integrate into the Stockholm labour market region around the year 2020**.

*Statistics from 2011, sources Statistics Sweden (SCB) and Evidens
**Source: Evidens

]]>

Kungsleden optimising property portfolio, selling a property for SEK 16 m

Mon, 15 Oct 2012 13:00:00 +0100

The property has leasable area of around 8,000 sq.m. and was built in the 1960s for industrial company ASEA. The purchaser is Ivarsson Holding AB, a reputable company in Norrköping that also intends to move into the premises.

Completion is scheduled for 8 January 2013.

“I’m really satisfied with this deal because we’re selling above book value. The buyer is a local player better able to keep developing the property, and in this sense, is a more optimal owner,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden notes increased demand for premises in Gävle, lets to brewer Spendrups’ haulage contractor BIBAB

Thu, 13 Sep 2012 11:00:00 +0100

The logistics premises are some 1,300 sq.m., and with current tenant Nilar International AB, approximately 20% of the Tomokohus property is let. This property has high potential with a variety of extension alternatives.

“Demand for this type of premises, with high ceilings and large open spaces, has increased. We think its location in Gävle is good for logistics and transportation,” commented Thomas Erséus.

The port of Gävle considers investing 500 SEK m in order to gain new docks, a larger harbour estate and a new entrance channel. Its rail connection will also be enhanced. After the investment, port capacity will increase by 40% from the current 5 million tons to over 7 million tons of freight annually.

Kungsleden’s current tenant Nilar International AB will start automating production in October/November, thus lifting its output rate significantly. The company judges that it will be expanding its operations by 2,000-3,000 sq.m. over a two-year period. Kungsleden expects that Tomokohus will be fully let in 2014.

]]>

Kungsleden strengthens staff in Gothenburg, sees increasing interest in vacant premises

Thu, 23 Aug 2012 10:00:00 +0100

Initially, Tommy will work on Kungsleden’s portfolio in Kungsbacka, where his broad experience of letting and development work will be well utilised. This includes accelerating the letting of those vacancies that arose after the insolvency of Kungsbacka Graphics.

Kungsleden owns and manages 75 properties in its West Region with a value of some SEK 2.7 bn. Kungsleden’s lettings market in western Sweden is stable, and interest in the company’s vacant premises has been increasing steadily since year-end. Kungsleden’s economic vacancy in western Sweden is mainly concentrated on a small number of development properties.

“We think hiring Tommy strengthens our skills base and creates even better prospects for serving current and new tenants. Now we’re well equipped to address the challenges and opportunities Kungsleden faces in West Region,” commented Nicklas Arfvidsson, Kungsleden’s Regional Manager for Gothenburg.

]]>

Increased gross profit for the first half-year

Thu, 16 Aug 2012 08:00:00 +0100

RESULTS IN BRIEF
The interim period (January–June)

Net sales increased by 18 per cent to SEK 1,117 (944) m while gross profit increased by 21 per cent to SEK 672 (556) m with a larger property portfolio and milder winter.
Profit before tax was SEK 530 (592) m. Profit after tax was SEK –558 (509) m, or SEK –4.10 (3.70) per share. The profit decrease is mainly due to provisioning for tax costs and lower profits from Hemsö, which reported lower unrealised value changes on properties.
Cash flow from operating activities was SEK 242 (305) m.
Profit/loss for calculating dividends for the period was SEK –55 (223) m, equivalent to SEK –0.40 (1.60) per share.
As of 30 June 2012, the property portfolio consisted of 322 (324) properties with a book value of SEK 15,750 (15,693) m.
In the second quarter, the estimated profit for calculating dividends for the full year 2012 was downgraded to SEK 300 m, from SEK 600 m previously after tax rulings for Kungsleden companies and external companies increased the risk of negative outcomes in Kungsleden’s outstanding tax proceedings. This estimate corresponds to SEK 2.20 (4.40) per share.

Second quarter (April–June)

Net sales increased by 5 per cent to SEK 561 (536) m and gross profit increased by 3 per cent to SEK 337 (328) m after this year’s rent indexation.
Profit before tax amounted to SEK 72 (100) m. The loss after tax was SEK –671 (102) m, or SEK –4.90 (0.70) per share. The lower profit is mainly due to provisioning for potential tax payments and lower profits from property sales.
Cash flow from operating activities was SEK 122 (268) m.
Profit for calculating dividends for the second quarter was SEK –177 (145) m, equivalent to SEK –1.30 (1.10) per share.

SIGNIFICANT EVENTS
The interim period (January–June)

From 1 January 2012 onwards, the portfolio in Hemsö Fastighets AB is recognised according to the equity method. Compared to the proportional method, the results of operations and financial position from the holding in Hemsö are reported on an individual line.
Kungsleden sold 3 (3) properties for SEK 93 (46) m, generating a profit of SEK 17 (23) m. These sales affected profit for calculating dividends by SEK 14 (28) m. No properties were purchased, compared to 43 properties, for SEK 4,103 m in the corresponding period of 2011.
A number of tax rulings for Kungsleden companies and external companies increased the risk of a negative outcome for Kungsleden’s tax proceedings. As a consequence, profit for calculating dividends has been charged with SEK 340 m, and the Income Statement with a tax cost of SEK 985 m.
Kungsleden’s syndicated loan was rearranged with a new SEK 4,500 m facility in January, and additionally, further loans of SEK 2,894 m have been refinanced. Accordingly, basically all of Kungsleden’s refinancing requirement for 2012 is secured.
Kungsleden came second in the Great Place to Work Survey 2012 out of medium-sized organizations in Sweden

Second quarter (April–June)

Kungsleden sold 1 (1) property was sold for SEK 5 (41) m with a profit of SEK 0 (20) m. This affected profit for calculating dividend by SEK 0 (25) m. The sale of five properties that was agreed and included in the first quarter was discontinued ahead of completion. No properties were purchased, compared to 6 properties for SEK 355 m in the corresponding period of 2011.
A number of tax rulings for Kungsleden companies and external companies increased the risk of a negative outcome for Kungsleden. As a consequence, profit for calculating dividends has been charged with SEK 260 m, and the Income Statement with a tax cost of SEK 725 m.

After the end of the period

In July, the Swedish Tax Agency claimed that the Administrative Court should consider further transactions Kungsleden executed in 2006–2007. If Kungsleden is unsuccessful in this matter, the liquidity effect would be approximately SEK 500 m. As recently as 2011, the Administrative Court of Appeal in Stockholm found that the Swedish Tax Evasion Act was not applicable in a similar case. No further provisioning has been made for these claims.
Kungsleden made two sales in August. Two properties in Poland were sold for SEK 104 m to a local buyer and 39 public properties in Härnösand were sold to Hemsö, and completed, for SEK 912 m. These sales affect profit after tax in the third quarter by SEK 39 m, and will increase profit for calculating dividends by SEK 26 m. Simultaneously, these transactions increase the equity ratio by two percentage points.

“Results for the period Kungsleden’s net sales increased by 18 per cent to just over SEK 1.1 billion and gross profit increased by 21 per cent to nearly SEK 672 m in the first half-year, compared to the corresponding period of the previous year. A milder winter and larger property portfolio are the primary exclamations.

Simultaneously, the operating surplus margin expanded by one percentage point to 69.1 per cent.

The lettings market continued to perform positively. Despite financial uncertainty in the surrounding world, the Swedish economy has fared relatively well. As previously reported, we signed new lease contracts in the first half-year with an annualized value of SEK 43 m.

Despite us provisioning a total of SEK 985 m for tax proceedings and paying out SEK 355 m to shareholders, our equity ratio only decreased by 2.3 per cent on year-end, and as of 30 June, was 34.6 per cent. After us transferring possession of the Härnösand portfolio to Hemsö in August, our pro forma equity ratio increases to 36.4 per cent.

The derivative portfolio is now comparable to our loan portfolio, after us cancelling swaps corresponding to SEK 1.8 billion in the first half-year, simultaneous with us having lower interest costs. This means that we reduced our average interest rate by 0.3 percentage points.

With an earnings capacity of some 8 per cent, the aforementioned performance in the period means that overall, I feel secure with our underlying business and financial position.

A continued strained credit market and greater concerns in the eurozone were a contributor to general restraint on activity on the transaction market in the second quarter. Banks are restrictive in issuing credit, even if in earnings terms, property is performing as well as previously.

Tax and profit estimate Our estimated profit or calculating dividends decreased by a total of SEK 250 m in the second quarter to SEK 300 m for 2012 after the tax rulings reported that could affect Kungsleden’s future tax payments. The fact that, as we see it, applicable tax legislation is being re-interpreted is unfortunate because it creates uncertainty not just for Kungsleden, but for the whole sector and investors generally, Swedish and foreign.

In addition to previous press releases on tax updates, in July, Kungsleden received information that the Swedish Tax Agency is claiming that the Administrative Court should reconsider whether the Swedish Tax Evasion Act is applicable to further transactions Kungsleden executed in 2006 and 2007. If Kungsleden is unsuccessful in these proceedings, the liquidity effect would amount to some SEK 500 m. As recently as 2011, and in a similar case, the Administrative Court of Appeal in Stockholm ruled that the Swedish Tax Evasion Act was not applicable. We still think that on every occasion, Kungsleden has complied with the laws and practice in place when submitting each tax return.

Liquidity and funding As of 30 June, our cash position and un-utilised credit facilities were nearly SEK 1,460 m. Apart from us yielding possession of the Härnösand portfolio and the sale of two properties in Poland, a vendor note of SEK 184 m to SveaReal was redeemed after the end of the period. In addition, an unusually high amount of rent was received in the early days of July, because the end of the quarter was on a weekend. Overall, these events mean a cash injection of another SEK 350 m in the third quarter. The loan to value ratio on our property portfolio was 68 per cent as of 30 June, or 57 per cent in relation to all earning assets, which consist of properties, participations and receivables from Hemsö and vendor note receivables.

With refinancing of loans for the year totaling SEK 7.4 billion in place, good access to liquidity and a surplus in our operating activities, Kungsleden has a strong financial position.

In the second quarter, we hired Anders Kvist as our Deputy Chief Executive and new CFO, who will take up his position on 1 October. Anders joins us from northern European banking group SEB where he was responsible for the bank’s capital structure as well as liquidity planning. With continued challenges on the credit market and Kungsleden’s endeavour to extend its funding sources, Anders’ know-how and experience will be a welcome addition to Kungsleden.

Outlook Challenges, primarily in the credit and tax segments, affect ourselves and the rest of the property market. Simultaneously, there are opportunities for Kungsleden to build shareholder value for the long term. The state of the economy remains uncertain, primarily in the eurozone, but for Kungsleden’s part, our underlying management is performing well and we still have a healthy lettings market. Our equity ratio is favourable, and we still have strong and stable cash flows. As previously reported, our estimate for the full year is SEK 300 m.”

Thomas Erséus
Chief Executive

]]>

Kungsleden sells public properties for SEK 912 m

Wed, 15 Aug 2012 13:00:00 +0100

The sale increases equity by about SEK 39 m. The transaction will be recognized in the third quarter of 2012.

These properties are located in Härnösand, northern Sweden, and accommodate operations such as housing for the elderly, health care and schools. The gross leasable area amounts to around 143 000 sq.m.

The transaction was planned when Hemsö Fastighets AB was formed and Hemsö has managed the property holding, legally owned by Kungsleden, since 2009. With the transfer to Hemsö now taking place, Kungsleden does not have any remaining direct holding in public properties in principle, these are instead owned through the share ownership in Hemsö.

Completion is on 15 August 2012.

“We are completing this transaction with Hemsö now and selling our remaining public properties. Apart from the positive profit effect, this sale increases our equity ratio by 2 per cent,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden sells properties in Poland for EUR 12.5 m

Wed, 08 Aug 2012 10:00:00 +0100

These properties were included in the purchase of the majority of properties of Nordic & Russia Properties Ltd. in 2011. Gross leasable area is approximately 44,000 sq.m.

The purchaser is a Polish property company, and completion will be by 18 September at the latest. This transaction is conditional on the Municipality of Bielsko-Biala not exercising its pre-emptive right, which expires on 6 September 2012.

“Kungsleden’s focus is to own and manage properties in Sweden, so it's natural that we’re selling these properties in Poland now, as planned. Our focus remains on customer care, portfolio enhancement and searching for good deal opportunities,” commented Kungsleden’s Chief Executive Thomas Erséus.

Savills has been the broker in this transaction.

]]>

Kungsleden - positive net lettings, lets to Inspecta in Malmö

Wed, 04 Jul 2012 08:00:00 +0100

This building, previously let to a school, consists of an office section and a combined warehouse and workshop section. The tenant is scheduled to move in on 1 January 2013.

Inspecta has 25 offices in Sweden, and with its services in inspection, testing, certification, technical consultation and training, is the Nordic market leader.
Kungsleden’s lettings in Malmö are progressing stably. Economic occupancy for the whole Öresund region has increased from 85.9% to 87.2% in a year.

“I’m pleased to see that we achieved positive net letting in our commercial portfolio, indicating that Kungsleden’s lettings market remains stable and its property management is positive. We’ve re-negotiated and signed new lease contracts with annualised value of some SEK 40 m since year-end,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden updates tax ruling and adjusts estimate

Mon, 25 Jun 2012 08:00:00 +0100

Earnings effect
This ruling increases the risk of the definitive ruling of the proceedings finding against the company, and has prompted Kungsleden to provision SEK 342 m. Combined with provisioning for tax processes reported previously, the company’s total provisions amount to SEK 1,305 m. Of these, SEK 325 m was provisioned in 2009, SEK 260 m in the first quarter of 2012 and SEK 720 m will be charged to the second quarter. The amounts include interest, as well as potential tax surcharges. If all cases to which Kungsleden is party are found against Kungsleden, the Group’s equity would be reduced by SEK 768 m in addition to the provisioned amount.

Liquidity effect
The raised assessment of income can be offset against existing deficits, meaning that the liquidity effect will be lower and estimated at SEK 100 m. This amount includes interest and tax surcharges. If all cases to which Kungsleden is party are found against Kungsleden, the total liquidity effect would be unchanged at SEK 1,390 m, of which SEK 340 m refers to cases where provisions have been established (Including SEK 100 m, which pertains to these proceedings).

New estimate
Given the elevated risk of additional tax to be paid, the estimate for profit for calculating dividends for the full-year 2012 has been lowered from SEK 400 m to SEK 300 m.

Kungsleden’s opinion
Kungsleden’s opinion remains that the company has fully complied with the laws and practice in place when submitting each tax return. In Kungsleden’s opinion, it is difficult to assess the Administrative Court of Appeal’s ruling since it has not been provided an explanation of its own, and thus the company intends to petition for leave to appeal to the Swedish Supreme Administrative Court to consider this question of principle.

The timing of the effects depends on when Kungsleden’s tax cases are definitively ruled by the courts.

]]>

Correction of previously published press release

Tue, 05 Jun 2012 16:45:00 +0100

A corrected version of the first paragraph of this press release follows. The correction is in italics:

Kungsleden—update on tax rulings

“The Administrative Court in Stockholm has reported rulings on two cases to which Kungsleden is party. The Administrative Court has ruled that the Swedish Tax Evasion Act is applicable to transactions conducted in the tax years 2004 and 2006. In addition to the provisioning made in 2009, the company is provisioning an additional SEK 48 m as a consequence of these rulings. Accordingly, in addition to previously reported provisioning for tax proceedings, the company’s total provisions amount to SEK 963 m, of which SEK 260 m was charged to the first quarter, and SEK 378 m will be charged to the second quarter. These amounts include interest and potential tax surcharges.”

]]>

Kungsleden - update on tax rulings

Tue, 05 Jun 2012 10:00:00 +0100

In addition to the provisioning made in 2009, the company is provisioning an additional SEK 48 m as a consequence of these rulings. Accordingly, in addition to previously reported provisioning for tax proceedings, the company’s total provisioning amounts to SEK 963 m, of which SEK 638 m will be charged to the second quarter. These amounts include interest and potential tax surcharges.

Kungsleden’s opinion remains that the company has fully complied with the laws and practice in place when submitting each tax return. In addition, Kungsleden considers that the Administrative Court did not consider the arguments and circumstances the company submitted in both cases, and accordingly, the company intends to appeal these proceedings at the Administrative Court of Appeal.

Due to the rulings reported in spring 2012 and the altered practice the courts are now following, the company has conducted a new analysis of the liquidity effect and impact on equity of the ongoing tax proceedings. This analysis consists of factors including new evaluations of the prospects of utilising loss carry-forwards and new interest computations. If all cases to which Kungsleden is party are found against Kungsleden, the adjusted total liquidity effect would be SEK 1,390 m. This amount also includes the proceedings reported in this and previous press releases in spring 2012, of SEK 240 m. Correspondingly, consolidated equity would decrease by SEK 1,110 m over and above the provisioned amount.

The timing of the effects depends on when Kungsleden’s tax cases are definitively ruled by the courts.

]]>

Kungsleden - update on tax rulings and adjusted estimate

Thu, 31 May 2012 15:00:00 +0100

In Kungsleden’s cases, the sales were via Dutch companies, and accordingly, these procedures have been termed BV proceedings in previous communication. Kungsleden has 11 cases on which a stay has been ordered at the Stockholm Administrative Court of Appeal, which relate to this type of procedure.

Kungsleden’s opinion remains that the company has complied fully with the laws and practice in place when preparing each tax return and intends to take the company’s proceedings further. However, after the HFD’s ruling, the company considers the risk of the stayed cases being ruled against Kungsleden is greater than previously.

Given potential negative rulings from the Administrative Court of Appeal, the estimated liquidity effect would be SEK 140 m. The timing of this liquidity effect depends on when the Administrative Court of Appeal rules on Kungsleden’s stayed cases. Given negative rulings, the year-2012 estimated tax cost would increase by SEK 330 m, and against the background of the current ruling from the HFD, this amount has been provisioned in the second quarter. The amount includes interest and potential tax surcharge.

The overall effect of the circumstances reviewed above is that the Board of Directors’ estimate of Kungsleden’s profit for calculating dividends for the full year 2012 reduces to SEK 400 m from the previously reported SEK 550 m.

As previously reported, apart from the aforementioned cases, Kungsleden is party to further tax proceedings. If the outcome of all these proceedings were negative, the company judges that consolidated equity would reduce by approximately SEK 1,070 m against the previously reported SEK 1,400 m, and the liquidity effect would amount to SEK 720 m, compared to the previously reported SEK 860 m.

]]>

Anders Kvist Kungsleden’s new CFO and Deputy Chief Executive

Wed, 30 May 2012 11:30:00 +0100

The financial conditions on the property market have altered during the financial crisis of recent years. These new conditions have compelled companies like Kungsleden to find different solutions to those that were previously customary on the market. In tandem with its successful management strategy, Kungsleden wants to ensure stable returns for the long term, diversify risk, continue to enhance its portfolio and sharpen its focus on innovative funding solutions.

“We have arranged our refinancing in 2012, but with poorer access to credit as a result of the government financial turmoil in Europe and more stringent capital adequacy requirements on banks, we face challenges that also require new and innovative funding solutions. In these circumstances, being able to bring fresh experience from the financial markets to the company is a strength,” commented Kungsleden’s Chief Executive Thomas Erséus.

Anders Kvist is currently Head of Financial Management at SEB, where he is responsible for the bank’s capital structure, and for capital and liquidity planning. Anders has been working for SEB since 2005 and has 30 years’ experience of the Nordic banking and insurance business, as well as asset management. Anders Kvist is a graduate of the Stockholm School of Economics, and has studied Russian and history at the Universities of Stockholm and Uppsala.

“Kungsleden is an exciting company in good growth, with stable cash flows and good profits from property management. Even if altered funding conditions will require more of property companies going forward, I think Kungsleden enjoys good prospects of continuing to diversify its risks while simultaneously executing attractive, value-creating transactions. I’m looking forward to contributing my know-how from the banking and finance world,” responded Anders Kvist.

Anders Kvist succeeds Johan Risberg, who is leaving the company.

“Johan has been part of Kungsleden almost right from the start, and his contribution to creating the company that Kungsleden is today has been decisive. After 16 years with Kungsleden, it is natural for him to move on and I want to thank Johan for his great effort,” commented Thomas Erséus.

]]>

Property sale discontinued

Wed, 16 May 2012 13:30:00 +0100

Because the purchaser has not succeeded in arranging finance in time, it is likely that this transaction must now be cancelled. However, the parties are continuing to work to find a solution.

The sales price of these properties exceeded book value by approximately SEK 10 m and acquisition cost by about SEK 26 m. Because the likelihood of this transaction being completed has reduced, Kungsleden will pull out of the transaction in the second quarter.

“It’s obviously really regrettable that due to financing problems the purchaser has been unable to take possession of the properties at the designated time. Accordingly we are now likely to be compelled to discontinue the transaction, and unless it can be completed soon, we are considering demanding completion and damages in accordance with our agreement,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Hemsö issues three-year, SEK 750 m bond loan

Wed, 16 May 2012 08:00:00 +0100

The loan is at variable interest and has final maturity in 2015. As a consequence of this action, These bonds will have a coupon of STIBOR 3m +2.25%. Hemsö will be applying to list these bonds on NASDAQ OMX Stockholm.

“It’s positive that this issue has attracted very good demand. This bond loan, which is on attractive terms, strengthens Hemsö’s capital base and supplements its current bank funding”, commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Gross profit up 47 per cent and this year’s refinancing secured

Thu, 26 Apr 2012 08:00:00 +0100

RESULTS IN BRIEF
The interim period (January–March)

Net sales increased by 36 per cent to SEK 556 (407) m while gross profit increased by 47 per cent to SEK 335 (228) m with a larger property portfolio and milder winter.
Profit before tax amounted to SEK 458 (492) m. Profit after tax was SEK 113 (406) m, or SEK 0.80 (3.00) per share. The profit decrease is mainly due to provisioning for tax costs and lower profits from Hemsö, which reported lower unrealised value changes on properties.
Cash flow from operating activities was SEK 120 (37) m.
Profit for calculating dividends for the period was SEK 121 (78) m, equivalent to SEK 0.90 (0.60) per share.
As of 31 March 2012, the property portfolio consisted of 317 (324) properties with a book value of SEK 15,533 (15,693) m.
In April, the estimated profit for calculating dividends for the full year 2012 was downgraded to SEK 550 m, from SEK 600 m previously after negative outcomes on two tax rulings were received. This estimate corresponds to SEK 4.00 (4.40) per share.

SIGNIFICANT EVENTS
The interim period (January–March)

From 1 January 2012, the portfolio in Hemsö Fastighets AB is recognised according to the equity method. Compared to the proportional method, the results of operations and financial position from the holding in Hemsö are reported on an individual line instead of, in principle, affecting all other items, more information at www.kungsleden.se/consolidation-of-hemso.
Kungsleden sold 7 (2) properties for SEK 230 (5) m, generating a profit of SEK 20 (3) m. These sales affected profit for calculating dividends by SEK 39 (3) m. No properties were purchased, compared to 37 properties, for SEK 3,748 m in the corresponding period of 2011.
Kungsleden’s syndicated loan was rearranged with a new SEK 4,500 m facility in January.
Kungsleden came second in the Great Place to Work Survey 2012 out of medium-sized organizations in Sweden.

After the end of the period

Two tax rulings from the Administrative Court of Appeal, with a negative outcome for Kungsleden, were received in April. As a result, profit for calculating dividends was charged with SEK 80 m and the Income Statement with a tax cost of SEK 260 m.
Basically all the remaining refinancing requirement for 2012 was secured in April. Loans of SEK 1.6 billion were extended, of which SEK 1.0 billion to 2015 and SEK 0.6 billion to 2013. Definitive tenders were also secured for loans of SEK 1.3 billion.

“Results for the quarter Net sales increased by 36 per cent to SEK 556 m, while gross profit increased by 47 per cent to SEK 335 m, compared to the first quarter of the previous year. After the transfer to reporting Hemsö in accordance with the equity method, net sales and gross profit include Kungsleden’s wholly owned properties only. Instead, Hemsö’s profit or loss is reported on its own line in the Income Statement, at half of Hemsö’s profit after tax. Hemsö’s profits decreased by 44 per cent to SEK 84 m, mainly a result of lower unrealised value changes on properties.

Sales and administration costs were up by just over SEK 11 m, mainly as a consequence of a larger property portfolio. A larger portfolio means more borrowings, which were charged to net financial items. But increased costs were more than compensated by gross profit increasing by SEK 107 m, with most of the increase provided by the properties purchased from NR Nordic & Russia Properties. Property sales produced a profit of SEK 20 m net.

I’m very satisfied with our results and the stability of our underlying operations. A mild winter early in the year helped the earnings capacity of our portfolio to increase by 8.0 per cent, from 7.9 per cent at year-end. The operating surplus margin increased from 66.7 per cent to 67.2 per cent. Profit for calculating dividends was SEK 121 m, compared to SEK 78 m last year despite unexpected tax costs, with a SEK –80 m liquidity effect, after rulings by the Administrative Court of Appeal in Stockholm.

Retroactive tax The rulings are for two companies in the group, which in 2004 claimed deductions for losses on liquidation when liquidating limited partnerships. These losses arose as part of internal restructuring, and accordingly, the Administrative Court of Appeal did not regard them as actual from a group perspective. Rulings in various administrative courts of appeal on the same legal issue—to which Kungsleden was not party—have differed in the past year. Our view is that we have consistently followed the rules on each occasion, and against this background, we intend to have this matter considered at the highest level. It is regrettable and very frustrating to be unable to offer clearer information after eight years.

Nordic Modular and Hemsö Nordic Modular made a good start to the year. Sales of modules increased by 18 per cent, with an upturn also apparent in lettings. Hemsö’s operating net also made positive progress. I can conclude that the interest in public properties remains high, and at present, we see no risk of increased required returns in this segment.

For Kungsleden’s part, the lettings market featured higher activity with more terminations, but also more new contract signings. In like-for-like portfolio terms, net lettings were virtually unchanged, but were higher in absolute terms, for reasons including us now holding a larger portfolio. When companies see a need to adapt their premises, they start earlier now than pre-financial crisis. Our mission is to maintain unchanged, and preferably reduced, vacancies.

Funding In the period until the start of the second quarter, we had rearranged and secured definitive tenders on basically all our refinancing requirement for 2012. This means that we have new credit and loan facilities totalling SEK 7.4 billion. Average interest after arranged refinancing is estimated at 6.7 per cent. The previous facilities were entered a few years ago when loan terms were more advantageous. The interest margins received are consistent with what the rest of the market is paying. We will continue to work to limit our funding costs and diversify our loan portfolio through alternative funding sources, such as unsecured bonds.

Outlook Our business is progressing very stably, and our average property yield increased to 8.0 per cent in the quarter. We also did some positive transactions, but the tax rulings for the 2004 tax year arrived in April. Overall this meant the downgrade of the Board of Directors’ estimate for profit for calculating dividends, which was reported earlier in April, was limited to SEK 50 m. The estimate for the full year is SEK 550 m, against SEK 600 m previously.

Our equity ratio was 38 per cent, we have strong and stable cash flow and, long lease contracts with strong counterparties, several property segments and geographical diversity that limit risks, and a loan to value ratio consistent with current standards, strong liquidity and arranged refinancing. Accordingly, my judgement is that a potential market slowdown would have a limited impact for Kungsleden’s part.”

Thomas Erséus
Chief Executive

]]>

Kungsleden’s Annual General Meeting

Thu, 19 Apr 2012 16:30:00 +0100

In his address to the AGM, Chief Executive Thomas Erséus reviewed the financial year 2011 and current market conditions. The Chief Executive’s address was recorded on video, and will be available at Kungsleden’s website, www.kungsleden.se, (in Swedish) from 20 April 2012 onwards.

The AGM discharged the Board members and Chief Executive from liability for the financial year 2011.

The Meeting resolved to reduce the number of Board members from eight to seven.

The following Board members were re-elected: Håkan Bryngelson, Joachim Gahm, Lars Holmgren, Kia Orback Pettersson, Biljana Pehrsson, Magnus Meyer and Charlotta Wikström. Håkan Bryngelson was also elected as Chairman of the Board.

The Meeting appointed Peter Gustafson representing Olle Florén and companies, Eva Gottfridsdotter-Nilsson representing Länsförsäkringar Fondförvaltning, Peter van Berlekom representing Nordea Fonder and Frank Larsson representing Handelsbanken Fonder as members of the Nomination Committee. Håkan Bryngelson is a member in his capacity as Chairman of the Board.

The Meeting adopted the Board of Directors’ proposal on remuneration guidelines for senior managers.

]]>

Kungsleden — update on tax rulings and downgraded estimate

Thu, 12 Apr 2012 09:30:00 +0100

In April 2012, listed Swedish property company Kungsleden received rulings from the Administrative Court of Appeal in Stockholm regarding the fiscal year 2005. These rulings relate to two companies in the Kungsleden group, which claimed tax relief for losses on the liquidation of partnerships. These losses on liquidation arose as a part of internal restructuring, and against this background, the Administrative Court of Appeal shared the Administrative Court’s view that the losses were not actual from a group perspective. The Administrative Court of Appeal’s rulings imply a negative liquidity effect of SEK 80 m, which will affect profit for calculating dividends for the first quarter. The tax cost for the year will increase by SEK 260 m, which as an effect of the rulings, will also be charged to the first quarter. These amounts include interest and potential tax surcharges. Kungsleden intends to appeal against these rulings at the Supreme Administrative Court.

If the outcome of all remaining tax proceedings is negative, the company judges that consolidated equity would decrease by approximately SEK 1,400 m, against the previously reported SEK 1,660 m.

In terms of management, the year started positively, the company has also succeeded in doing good transactions.

The overall effect of the circumstances reviewed above is that the Board of Directors’ estimate of Kungsleden’s profit for calculating dividends for the full year 2012 will reduce by SEK 50 m to SEK 550 m from the previously reported SEK 600 m.

“The outcome of both these rulings is unexpected and it’s very surprising that the Administrative Court of Appeal has chosen not to provide any explanation. The fact that it takes so long to obtain a ruling is also a problem; the transactions in question were conducted back in the financial year 2004. In the past year, different administrative courts of appeal have issued several rulings that Kungsleden is not party to, but which are on the same legal issue, and the outcomes have differed. Accordingly, we intend to have this matter considered at the highest level,” commented Thomas Erséus, Kungsleden’s Chief Executive.

]]>

Postponed completion of five commercial properties

Tue, 10 Apr 2012 08:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) announced 16 February 2012 a sale of five properties for a total purchase price of SEK 151 m excluding transaction costs at a property yield of 7.1 percent. The completion is postponed and will take place at the latest 15 May 2012.

]]>

Kungsleden publishes Annual Report for 2011 and an update on tax proceedings

Thu, 29 Mar 2012 08:00:00 +0100

In February 2012, the Swedish Tax Agency contended that the Administrative Court in Stockholm should consider whether the Swedish Tax Evasion Act is applicable to one transaction Kungsleden conducted in the fiscal year 2008. The transaction involves the impairment of lagerandelar (defined in Swedish law as a construction company’s shareholding in a property management company), which according to Kungsleden’s opinion, was conducted in accordance with applicable practice from the Supreme Administrative Court. If the Swedish Tax Agency’s claim prevails, this would mean an additional tax claim of SEK 340 m against Kungsleden. Kungsleden considers that the Swedish Tax Agency’s claim is erroneous and the company’s firm opinion is that it complied with the laws and practice applicable when submitting its tax return. Accordingly, there will be no provisioning.

]]>

Invitation to the Annual General Meeting of Kungsleden AB (publ)

Tue, 13 Mar 2012 09:00:00 +0100

Regarding election of the Board of Directors, the Nomination Committee has proposed re-election of Håkan Bryngelson, Joachim Gahm, Lars Holmgren, Magnus Meyer, Kia Orback Pettersson, Biljana Pehrsson and Charlotta Wikström. The Nomination Committee proposes that Håkan Bryngelson is elected Chairman of the Board. Board member Thomas Erséus has declined re-election.

Kungsleden AB (publ)

Håkan Bryngelson

Appendix: invitation to Annual General Meeting

]]>

Kungsleden sells two properties for approx. SEK 75 m

Fri, 17 Feb 2012 08:00:00 +0100

The properties are located in Linköping, south west of Stockholm, and leasable area amounts to approximately 7,100 sq.m. divided 50% retail, 41% care and 9% office and other accommodation. These properties are fully let to various tenants, the largest being northern European food provider ICA Sverige AB and Östergötland County Council.

Completion was on 16 February 2012.

“I feel satisfied with this transaction, which yielded a good profit. With the sale earlier in the week, these transactions demonstrate that the transaction market remains liquid with strong local players.” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden sells five properties for SEK 151 m

Thu, 16 Feb 2012 12:00:00 +0100

Four of the properties are located in Sollentuna, near Stockholm, and one property is in Visby, on the island of Gotland. Leasable area is around 18,200 sq.m.

Completion is scheduled for 2 April 2012

“In an increasingly harsh investor climate, it feels good to start the year with a transaction at a good profit. Kungsleden’s business model is designed to improve the property portfolio’s risk-adjusted returns. Through the sale in Visby, we are also selling our only holding on Gotland. Accordingly, this transaction is a good example of active portfolio enhancement,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Profit above estimate and increased dividend

Thu, 16 Feb 2012 08:00:00 +0100

RESULTS IN BRIEF
The financial year (January – December)

Net sales increased by 25 per cent to SEK 2,882 (2,304) m and gross profit increased by 21 per cent to SEK 1,877 (1,545) m due to a larger property portfolio.
Profit before tax amounted to SEK 828 (1,186) m. Profit after tax was SEK 638 (841) m, or SEK 4.70 (6.20) per share. Largely, the profit decrease is due to negative unrealised value changes on financial instruments.
Cash flow from operating activities was SEK 666 (510) m.
Profit for calculating dividends for 2011 was SEK 703 (530) m, equivalent to SEK 5.20 (3.90) per share. This is SEK 53 m above the reported estimate.
As of 31 December 2011, the property portfolio consisted of 636 (592) properties with a book value of SEK 26,122 (21,501) m.
The Board of Directors is proposing a dividend of SEK 2.60 (2.00) per share.
The forecast of profit for calculating dividends for the full year 2012 is SEK 600 m, or SEK 4.40 per share.

Fourth quarter (October – December)

Net sales increased by 28 per cent to SEK 768 (599) m and gross profit increased by 28 per cent to SEK 492 (385) m due to a larger property portfolio.
Profit before tax amounted to SEK 373 (781) m. Profit after tax was SEK 303 (524) m, or SEK 2.20 (3.80) per share. The lower profit is primarily due to negative unrealised value changes on financial instruments.
Cash flow from operating activities was SEK 150 (159) m.
Profit for calculating dividends for the quarter was SEK 241 (151) m, or SEK 1.80 (1.10) per share.

SIGNIFICANT EVENTS
The financial year (January – December)

60 (64) properties were purchased for SEK 4,798 (2,356) m. Kungsleden also sold 20 (63) properties for SEK 1,224 (2,929) m generating a profit of SEK 56 (33) m. These sales affected profit for calculating dividends by SEK 114 (54) m.
The largest transaction was the acquisition of 36 properties from NRP for SEK 3.6 billion.
Through active portfolio enhancement involving the purchase of high-yielding properties and the sale of low-yielding properties, property yields, measured as earnings capacity, increased from 6.4 per cent to 7.2 per cent.
The 50:50 owned joint venture Hemsö has been an independently functioning company with its own management since the beginning of the year.
Kungsleden was recognised as the best workplace among property companies in the Great Place to Work Survey.

Fourth quarter (October – December)

11 (52) properties purchased for SEK 305 (1,517) m. 16 (22) properties were also sold, for SEK 1,044 (1,901) m, generating a profit of a SEK 22 (21) m. The sales affected profit for calculating dividends by SEK 69 (40) m.
Purchases of well-let properties, Kungsleden’s own new lettings and sales of one development property in Slagsta, southern Stockholm, contributed to occupancy increasing to 91.6 (90.3) per cent.
The initial investment in Nordic Modular, made in 2007, was fully repaid in the fourth quarter.

After the end of the year

Kungsleden syndicated loan was rearranged with a new SEK 4,500 m facility in January 2012, meaning that half of year-2012 maturities are now refinanced.

“Results for the quarter
Net sales increased by 28 per cent to SEK 768 m, while gross profit increased by 28 per cent to SEK 492 m in the fourth quarter. Profit from property management, i.e. profit before tax excluding unrealised value changes and property sales, were the best ever for a fourth quarter. A larger property portfolio is the primary exclamation, but very positive work in our management organization was also a contributor. However, profits were charged with negative value changes on financial instruments of SEK –127 (556) m. This contributed to profit after tax being SEK 303 (524) m.

The value of properties increased by SEK 285 m. The increase is primarily sourced from properties recently acquired from NR Nordic & Russia Properties (NRP), which progressed beyond expectations.

Summary of the full year 2011
Net sales increased by 25 per cent to SEK 2,882 m while gross profit rose 21 per cent to SEK 1,877 m. Unrealised value changes were SEK 81 m net, of which properties represented SEK 690 m and financial instruments SEK –609 m. Profit before tax was SEK 828 (1,186) m.

In total, Kungsleden purchased 60 properties for SEK 4.8 billion and sold 20 properties for SEK 1.2 billion in 2011. The return on purchased properties was approximately 10.2 per cent, while the sold properties had returns of 5.0 per cent. Late in the year, we also succeeded in selling a fairly high number of properties, despite a somewhat weak transaction market. Combined with better-than-expected returns from newly purchased properties, this contributed to us beating our estimate of profit for calculating dividends by SEK 53 m, to a total of SEK 703 m.

Our investment in Nordic Modular has been positive, not merely in 2011, but also viewed over time. The initial investment in Nordic Modular from 2007 was fully repaid in the fourth quarter. During the holding period, return on equity has been well over 20 per cent per year. Hemsö also grew robustly in 2011, which also benefits us. Hemsö was a net buyer of properties for nearly SEK 1 billion.

Market condition
Activity on the transaction market fell in the fourth quarter, for reasons including a gloomier credit market. For the lettings market, I can conclude that generally, businesses are more vigilant now, with recent experience of the previous financial crisis of 2008–2009. So far, we haven’t seen any negative change. Economic occupancy was unchanged in like-for-like terms. Actual results were an improvement of 1.3 percentage points to 91.6 per cent at year-end through purchases and sales in the year.

Of Kungsleden’s utilised credit facilities of SEK 8.5 billion to be refinanced in 2012, refinancing of half of these facilities has already been arranged. Higher borrowing costs as a result of more stringent regulation are another reason for us to work more on extending our funding sources.

Outlook
Hemsö will be consolidated into the Kungsleden group in accordance with the equity method from 1 January 2012, instead of as previously, being reported according to the proportional method.We are doing this ahead of a forthcoming regulatory change, which permits the equity method only. This is also reasonable accounting, now that Hemsö is an independent company. This change means that half of Hemsö’s profits will be reported on its own line in the Income Statement and half of Hemsö’s equity will be an asset item in the Statement of Financial Position.

I am viewing the transaction market for the coming year with some confidence, even if volumes do prove to be somewhat lower than 2011.

The Board of Directors is proposing that the dividend is increased by 30 per cent from the previous year to SEK 2.60 per share. If the AGM approves this proposal, this means that over the past five years, Kungsleden will have transferred SEK 29 per share to its shareholders. Kungsleden’s estimate of profit for calculating dividends in 2012 is SEK 600 m.”

Thomas Erséus
Chief Executive

]]>

Nomination Committee proposal for Kungsleden’s Board of Directors

Thu, 16 Feb 2012 07:58:00 +0100

The members of Kungsleden’s Nomination Committee are Peter Gustafson (Chairman), representing Olle Florén and companies, Eva Gottfridsdotter-Nilsson, representing Länsförsäkringar Fondförvaltning, Peter van Berlekom, representing Nordea Fonder, Frank Larsson, representing Handelsbanken Fonder and Chairman of the Board Håkan Bryngelson.

The Nomination Committee’s complete proposals for resolution at the AGM 2012, more information on the proposed Board members and a report on the Nomination Committee’s work will be presented by no later than coincident with publication of the invitation to the AGM.

]]>

Financial information from Kungsleden in 2012

Wed, 15 Feb 2012 08:00:00 +0100

Applications to participate are available at www.financialhearings.com

Live streaming

There will be live streaming from Operaterassen. A recorded version of them stream will be available afterwards at kungsleden.se.

English conference call

A conference call in English will also be held with the presentation for financial analysts and the press. No advance notification is required.

The conference call starts at 1:30 p.m. and is an opportunity to put questions on the annual financial statements.

To participate in the conference call from Sweden, call +46 (0)8 505 59875. Participants from the UK can connect to the call at local rate on +44 (0)207 108 6303.

Financial information in 2012

16 February Financial Statement 2011

29 March Annual Report 2011

19 April AGM in Stockholm

26 April Q1 2012

23 May (Please note change of date) Capital markets day for analysts and journalists.

16 August Q2 2012

25 October Q3 2012

This schedule is also published at kungsleden.se.

]]>

Hemsö purchases six properties for SEK 396 m

Tue, 14 Feb 2012 08:00:00 +0100

This property portfolio consists of a retirement home and three schools in the northern Swedish city of Umeå, one school in Eskilstuna, west of Stockholm, and a police station in Eksjö, south west of Stockholm. The tenants are the Municipality of Umeå, the International English School and Jönköping Police Authority.

Total rental value amounts to about SEK 34 m.

Completion is scheduled for 30 March 2012.

“These properties fit well into Hemsö’s portfolio with long leases averaging ten years of remaining contract term, which ensures stable, long-term returns,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

An update from Kungsleden on tax rulings

Fri, 03 Feb 2012 08:00:00 +0100

The tax claim resulting from this ruling is SEK 120 m, which was reported previously in the Annual Report for 2010 and Interim Reports during 2011. The Administrative Court’s ruling will be subject to appeal at the Administrative Court of Appeal.

Kungsleden regards this judicial decision as erroneous, and the company’s definitive view remains that the company has complied with the laws and practice in place coincident with each tax return, a view shared by external experts on tax issues. No provision will be made in according to described background above.

]]>

Kungsleden signs ten year contract term Green Lease with Westinghouse

Thu, 29 Dec 2011 08:00:00 +0100

The two buildings, 13,000 sq.m.of office and 1,000 sq.m. industrial building, has been empty for about ten years after ABB left the premises. The property has belonged to Kungsleden since early 2011 and was part of the purchase of NR Nordic & Russia Properties. The buildings will be tailored for Westinghouse in 2012 and completion is scheduled for late 2012.

"I'm very pleased to lease such a large area that has been vacant a long time and it feels good to strengthen the relationship with Westinghouse. It gives us a secure and stable cash flow that also affects our occupancy rate positively”, commented Kungsleden's Chief Executive Thomas Erséus.

]]>

Hemsö sells a property for SEK 50 m

Thu, 22 Dec 2011 08:00:00 +0100

This property, containing a retirement home, is in Gothenburg. Gross leasable area is about 1,840 sq.m.

Completion is scheduled for 15 February 2012.

]]>

Kungsleden sells properties for SEK 55 m

Wed, 21 Dec 2011 13:00:00 +0100

The properties are located in Malmö and have leasable area of about 7,300 sq.m.

Completion is scheduled for 1 February 2012

“I’m really satisfied with this transaction, which yields a good profit. We are always on the look-out for good deal opportunities and are working to improve our risk-adjusted returns,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden sells five properties for SEK 215 m

Fri, 16 Dec 2011 11:00:00 +0100

These properties are located in Norra Botkyrka, near the Slagsta Strand retail mall, south of Stockholm, and have gross leasable area of about 50,000 sq.m. The purchaser is Fastighets AB Botvid, which is 50:50 owned by Gelba Fastigheter AB and STRABAG Projektutveckling AB.

Kungsleden has been collaborating with Gelba Fastigheter AB on developing Slagsta Strand for some time, which has, for example, resulted in a 15,000 sq.m. lease to the Hemmamässan home furnishings expo. The new lease with Hemmamässan commences in spring 2012, with annual rental value of about SEK 13 m.

“We’ve worked hard and intensively on developing these properties and on the associated land. We’re now opting to sell this property to Gelba and Strabag Projektutveckling, which we think, has good prospects of continuing the development process. I’m really satisfied with this deal, which has generated a satisfactory profit,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden sells a property for SEK 82 m

Thu, 15 Dec 2011 14:00:00 +0100

This property is located in Umeå, north-eastern Sweden, and consists of four free-standing buildings. Leasable area is about x sq.m. The purchaser is Lumaf Förvaltning, held by the Lundgren brothers, Leif and Lennart.

Completion will be on 21 December 2011.

"We are continuing to work on enhancing our portfolio, and see a good opportunity to sell to a local player at a price exceeding book value,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden sells a property for SEK 385 m

Wed, 07 Dec 2011 13:00:00 +0100

The property is located in Karlskrona, southern Sweden, and is 100% let to ABB. Leasable area amounts to approximately 37 000 sq.m., mainly consisting of industrial premises.

Completion will be on 7 December 2011 and the buyer is ABB.

“ABB has its own plans for this property, so it feels natural for them to realise them themselves. This is a good transaction, as well as the result of a positive collaboration with ABB,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Hemsö purchases a property for SEK 130 m

Fri, 02 Dec 2011 08:00:00 +0100

This property is in Västerås, west of Stockholm, and houses a retirement home and local retail centre. Gross leasable area is around 9,000 sq.m., the tenant being the City of Västerås with a remaining lease term of 15 years. Total rental value is about SEK 12 m.

Completion is scheduled for 1 January 2012.

“This transaction involves a 15-year lease with the City of Västerås, which ensures long-term stable returns,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden completes SEK 279 m sale

Wed, 30 Nov 2011 08:00:00 +0100

The property yield is 6.4% and the sales price is consistent with book value and acquisition cost.

These properties are on the outskirts of Slakthusområdet wholesaling estate in Johanneshov, south of Stockholm. Leaseable area is approximately 25,000 sq.m., split 55% warehousing and 45% processing area, offices, staff accommodation and a restaurant. 95% of warehousing volumes consist of freezer storage.

The buyer is St Erik Markutveckling, a wholly owned subsidiary of the City of Stockholm.

Completion is on 29 November 2011.

“It feels good for us to be able to complete this transaction with a satisfactory profit,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Hemsö purchases three properties for SEK 52 m

Thu, 24 Nov 2011 08:00:00 +0100

This property portfolio consists of a retirement home with an office section, a day centre and sheltered housing with gross leasable area of approximately 3,500 sq.m. The properties are located in Täby, a suburb of Stockholm, with all areas let to the Municipality of Täby. Total rental value is SEK 4.5 m.

Completion is scheduled for 1 January 2012.

“This transaction involves long leases with the Municipality of Täby, which ensures long-term stable returns,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Hemsö purchases a public property for SEK 71 m

Mon, 14 Nov 2011 08:00:00 +0100

The property is in Krokslätt, just south of central Gothenburg. Leasable area is approximately 6,800 sq.m., the majority let to the International English School on a nine-year lease. The remaining area consists of offices and a small restaurant. Total rental value is about SEK 7 m.

Completion is scheduled for 1 December 2011.

“We’re purchasing this property at a good yield, and with the International English School as a stable, long-term tenant,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Hemsö purchases a public property for SEK 45 m

Wed, 02 Nov 2011 08:00:00 +0100

This property, let to the Municipality of Botkyrka on a 20-year lease, is located close to the former Tullinge airforce base, south west of Stockholm, an area of forward-looking investment where housing, schools and pre-schools are currently under construction. During 2011, the property is undergoing conversion and extension into a new pre-school.

Completion is scheduled for 1 November 2011.

]]>

The best gross profit yet for a single quarter

Wed, 26 Oct 2011 08:00:00 +0100

RESULTS IN BRIEF

Interim period (January – September)

Net sales increased by 24 per cent to SEK 2,114 (1,705) m, and gross profit increased by 19 per cent to SEK 1,386 (1,160) m after a larger property portfolio.
Profit before tax was SEK 455 (405) m. Profit after tax was SEK 335 (317) m, equivalent to SEK 2.50 (2.30) per share. The profit increase is mainly due to a larger property portfolio.
Cash flow from operating activities amounted to SEK 515 (351) m
Profit for calculating dividends for the interim period amounted to SEK 462 (379) m, equivalent to SEK 3.40 (2.80) per share.
As of 30 September 2011, the property portfolio consisted of 639 (592) properties with a book value of SEK 26,455 (21,501) m.
The estimated profit for calculating dividends for the full year 2011 is unchanged at SEK 650 m, or SEK 4.80 per share.

Third quarter (July – September)

Net sales increased by 36 per cent to SEK 766 (563) m, and gross profit increased by 34 per cent to SEK 548 (408) m, after a larger property portfolio.
The loss before tax was SEK –234 (237) m. Loss after tax was SEK –173 (180) m, equivalent to SEK –1.30 (1.30) per share. The lower figure is due to negative value changes on financial instruments.
Cash flow from operating activities amounted to SEK 254 (114) m.
Profit for calculating dividends for the quarter was SEK 239 (160) m, equivalent to SEK 1.70 (1.20) per share.

SIGNIFICANT EVENTS

Interim period (January – September)

49 (12) properties purchased for SEK 4,493 (839) m. 4 (41) properties were also sold for SEK 179 (1,028) m, with a profit of SEK 34 (12) m. These sales affected profit for calculating dividends by SEK 45 (14) m.
The largest transaction was the purchase of 36 properties from NRP for SEK 3.6 billion.
Kungsleden rated the best workplace of the property companies in the Great Place to Work survey

Third quarter (July – September)

5 (2) properties were purchased for SEK 306 (40) m. 1 (2) properties were also sold for SEK 133 (123) m, with a profit of SEK 11 (–2) m. These sales affected profit for calculating dividends by SEK 17 (13) m.
New letting of 15,000 sq.m. in Slagsta, south of Stockholm.

“Results for the period Kungsleden is reporting a gross profit of SEK 548 m for the third quarter, the company’s best quarterly figure ever. The primary explanation is growth of our property portfolio. By 30 September, we had purchased 49 properties for nearly SEK 4.5 billion at an estimated property yield of 9.5 per cent. However, negative value changes on our financial instruments reduced profit after tax, but have no cash flow effect.

Administration costs decreased on the previous quarter, which had fairly high non-recurring costs due to the organisational division of Hemsö and Kungsleden. The largest cost item is our funding costs, which have increased mainly as a result of a higher loan volume after executed acquisitions.

Lettings market Despite debt concerns in the surrounding world, conditions are favourable in Sweden, with a fairly strong domestic economy. Based on experience of previous recessions, we know that with its segment diversification into different property types and tenant structures with commercial and public tenants, Kungsleden has good resistance even if the economy were to deteriorate. Even if we do not see any risks at present, we are monitoring progress closely.

Because we’re in a late-cyclical sector, we started to see vacancies falling somewhat in the quarter. Our work on the few properties where our vacancies are concentrated paid off well. For example, we signed a three-year lease with Hemmamässan on 15,000 sq.m. in Slagsta Strand, south of Stockholm.

Transaction market Transaction volumes on the Swedish property market amounted to SEK 22 billion in the third quarter, a 16 per cent increase year on year according to real estate services firm JLL. After the end of the quarter, the executive auction of Kefren’s property captured a lot of attention. This high interest bears testimony to a liquid market despite debt concerns, with breadth and depth on the buy side, a wealth of local players and good prices. It also demonstrates that the property asset class is an attractive investment alternative in a low interest environment.

Generally, we’re seeing sustained increased interest in public properties, which is obviously positive, with prices rising somewhat in the year as a result. Kungsleden will remain active in the transaction market, even if turmoil on the financial markets affects the deals we do.

Rising activity in our modular business Our modular business primarily consists of modular lettings and production. Rental revenues are unchanged in the period, but new lettings were greater than terminated leases, and we expect them to remain so for the rest of the year. Revenues from module sales were over SEK 70 m in the quarter, against less than SEK 48 m last year. Interest and enquiries have increased over the past year. With the current activity levels, we’ll be moving into 2012 at a higher letting level than in 2011, which will strengthen Nordic Modular’s profits, all other things being equal.

Outlook The harsh credit market climate is persisting, especially for new lending. New regulation and turmoil on the financial markets is creating uncertainty among banks in terms of capital adequacy requirements and funding costs, which affects borrowers negatively. Just as previously, we will continue to examine alternative funding sources as a complement to bank borrowings.

Our profit for calculating dividends amounted to SEK 239 m for the third quarter and SEK 462 m for the period January to September. We are reiterating our estimate of profit for calculating dividends for 2011 of SEK 650 m.”

Thomas Erséus
Chief Executive

]]>

Kungsleden purchases property for SEK 20 m

Fri, 14 Oct 2011 15:00:00 +0100

This property is located in Uddevalla, in the west of Sweden, and has gross leasable area of about 3,900 sq.m. The rental value is around SEK 3,5 m.

The property was a part of the auction of the Kefren portfolio and completion is scheduled for 8 November 2011.

]]>

Kungsleden purchases property for SEK 132 m

Tue, 04 Oct 2011 08:00:00 +0100

This property is located in Växjö, southern Sweden, and has gross leasable area of about 15,000 sq.m. The rental value is around SEK 18 m. Its two largest tenants are Växjö Fria Gymnasium senior high school and civil engineering firm Svevia AB, which represent just over half of rental value.

Completion is scheduled for 1 November 2011.

“I’m pleased that we participated in and made the winning bid on one of the largest properties in the first day of the Kefren portfolio auction. It was exciting that so many bidders took part in the auction, which I view as a sign of strength. Växjö is an expansive location and this property, with its stable tenants, fits our portfolio well,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

New member of Kungsleden’s Nomination Committee

Tue, 20 Sep 2011 14:00:00 +0100

The other members of Kungsleden’s Nomination Committee are Peter Gustafson, representing Olle Florén and companies (Chairman), Eva Gottfridsdotter-Nilsson, representing Länsförsäkringar Fondförvaltning (asset management), Peter van Berlekom, representing Nordea Investment Management and Chairman of the Board Håkan Bryngelson.

]]>

Kungsleden in SEK 279 m property sale

Mon, 12 Sep 2011 08:00:00 +0100

These properties are located on the outskirts of Slakthusområdet wholesaling estate in Johanneshov, south of Stockholm. Leasable area is some 25,000 sq.m., split 55% warehousing and 45% processing area, offices, staffing accommodation and restaurants. 95% of warehousing volumes consist of freezer storage.

The buyer is St Erik Markutveckling, a wholly owned subsidiary of the City of Stockholm. The sale is conditional on approval by the City of Stockholm’s municipal council and completion is scheduled for December 2011.

The City of Stockholm is implementing an extensive change process for the whole Slakthusområdet estate, and in 2010, adopted its ‘Vision Söderstaden 2030 (vision for the southern city) with the intention of developing the estate into a centre for events and leisure, with arenas, offices and housing.

“I’m really satisfied with this sale and view the City of Stockholm as a natural owner with the change process now happening in Slakthusområdet,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden lets 15,000 sq.m. in Slagsta, Stockholm

Mon, 05 Sep 2011 08:00:00 +0100

The property, located in Norra Botkyrka near Slagsta Strand near Stockholm, has gross leasable area of about 46,000 sq.m. After focused development and letting work together with Gelba Fastigheter AB, the property will house a permanent interior design expo from February 2012. With its trading location right next to the E4 motorway, Hemmamässan will become an arena for anyone interested in interior design. The property’s other major tenants include home electronics retailer Net on Net and IT and management consulting firm Logica.

“I’m really pleased we’ve reached this long-term solution with Hemmamässan. This concept and trading site is right by the E4 has the prospects of becoming a new destination for excursions,” commented Kungsleden’s Chief Executive Thomas Erséus

]]>

Hemsö exercises option and takes possession of public property

Thu, 25 Aug 2011 08:00:00 +0100

The total investment amounts to approximately SEK 400 m with a property yield of about 7%.

The property houses two senior high schools, municipal library, work premises for the municipal executive, a cafe, music school and flexible multipurpose hall for sports and cultural activities.

“This transaction involves a 20-year lease with the Municipality of Upplands Väsby, ensuring long-term stable returns. The building is inherently innovative in terms of its architecture and content,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Sharp increase in gross profits

Thu, 18 Aug 2011 08:00:00 +0100

Net sales increased by 18 per cent to SEK 1,348 (1,142) m, and gross profit increased by 11 per cent to SEK 838 (752) m as a result of a larger property portfolio.

Profit before tax was SEK 690 (168) m. Profit after tax was SEK 509 (137) m, equivalent to SEK 3.70 (1.00) per share. The profit increase is mainly due to value changes on properties and financial instruments.

As of 30 June 2011, the property portfolio comprised 635 (592) properties with a book value of SEK 26,123 (21,501) m.

44 (10) properties were purchased for SEK 4,187 (799) m. 3 (39) properties were also sold for SEK 46 (906) m, generating a profit of SEK 23 (14) m. These sales affected profit for calculating dividends by SEK 28 (1) m.

Profit for calculating dividends for the interim period was SEK 223 (219) m, equivalent to SEK 1.60 (1.60) per share.

The estimated profit for calculating dividends for the full year 2011 is unchanged at SEK 650 m, or SEK 4.80 per share.

Second quarter (April–June)

Net sales increased by 31 per cent because of acquisitions to SEK 747 (571) m.
Profit before tax was SEK 139 (132) m. Profit after tax for the period was SEK 102 (80) m, equivalent to SEK 0.70 (0.60) per share.

“Results for the period Net sales for the second quarter rose by over 30 per cent to SEK 747 m, gross profit increased by 22 per cent to nearly SEK 485 m while our trading net nearly doubled to over SEK 20 m in year-on-year terms. Our acquisition from NRP is the primary explanation for this growth. Module sales, which rose 65 per cent to SEK 76 m, also helped the improvement. Significant value changes on properties and financial instruments explain our profit of SEK 690 m before tax for the first half-year, against SEK 168 m last year.

Our administration costs increased due to a larger property portfolio, Hemsö being an independent organisation, higher transaction activity to date this year and the relocation of Kungsleden’s and Hemsö’s head offices. Our funding costs increased as a result of a larger property portfolio.

Lettings market still positive The lettings market remained positive in the quarter, with rent increases on re-negotiated agreements. Given the current rate of inflation, we can also expect healthy rent growth next year. The market for modular lettings was also strong. Vacancies are limited to a small number of properties, so overall, there are good prospects for continued stability in the underlying cash flow of our properties.

The transaction market was also positive in the quarter with a fairly high number of transactions. However, the yield improvement we’ve previously seen may level off. Kungsleden’s transaction focus will sharpen when Ylva Sarby Westman, our Business Development Manager for commercial properties, joins the group management on 1 September.

In the second quarter, the transaction climate was more hesitant as a result of increased financial and economic unrest in the world. This year to date, Kungsleden has sustained a higher activity level, and we see continued opportunities to do good deals despite increased financial unrest. In an international perspective, Sweden is in a stable position with sound government finances, although there is a risk of its growth rate slowing.

Outlook Kungsleden has a geographically diversified portfolio with fairly low average rents, conferring security in uncertain times. Accordingly, our earnings look very stable going forward. We are reiterating our estimate of profit for calculating dividends of SEK 650 m.”

Thomas Erséus
Chief Executive

]]>

Hemsö purchases properties for SEK 98 m

Mon, 18 Jul 2011 08:00:00 +0100

The properties are located in Norrköping in central Sweden and have total leasable area of approximately 10,100 sq.m. The tenants are John Bauer high school and Prolympia compulsory school. The properties have agreements averaging 9 years with total rental value of approximately SEK 11,800,000.

Completion is scheduled for 1 September 2011.

“These are two attractive school properties with stable tenants and long agreements,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden divests properties for SEK 65 m

Wed, 13 Jul 2011 08:00:00 +0100

The properties are retail properties with total leasable area of 6,221 sq.m. One of the properties is located at the Högdalen shopping centre in Stockholm and the other in Linköping in central Sweden.

Completion for the Linköping property was effected in May 2011. Completion for the Stockholm property is scheduled for 1 September 2011.

“I’m extremely satisfied to complete these transactions at well over book value and at a healthy profit,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden divests properties to Hemsö

Mon, 04 Jul 2011 08:00:00 +0100

The public properties which are under construction have total leasable area of approximately 4,800 sq.m. and rental value of approximately SEK 10.5 m.

The properties are a police station in Köping in central Sweden which will be let to the Police over a 12-year contract, a pre-school in Sigtuna near Stockholm which will be let to pre-school Pysslingen over a 15-year contract and a retirement home let by the Municipality of Uppsala over a 20-year contract.

“These public properties with long contracts fit Hemsö’s profile extremely well,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Hemsö purchases property for SEK 180 m

Fri, 01 Jul 2011 12:00:00 +0100

The property is located in the Norra Hamnen waterfront area of Swedish resort town Lysekil and has leasable area of approximately 9,000 sq.m. The property is a high school under construction with the municipality of Lysekil as the future tenant in a 20-year agreement. Total rental value is approximately SEK 13,300,000.

Completion is scheduled for February 2012.

“It’s positive for Hemsö to expand our property holding in Lysekil where we already enjoy successful collaborations. The property is a good fit with existing holdings in terms of its risk-adjusted returns,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden purchases property for SEK 194 m

Wed, 08 Jun 2011 14:06:00 +0100

Listed Swedish property company Kungsleden AB (publ) is purchasing a commercial property for SEK 194 m including transaction costs. The property yield is initially 7.6%. The rental value is SEK 29 m.

The property, Swedenborg Center, is located in Trollhättan, north of Gothenburg and has leasable area of 29,200 sq.m., mainly comprising offices, care and residential premises. The buildings are of a very high standard because of their original usage as Trollhättan Hospital.

The south-western corner of the property is made up of approximately 30,000 sq.m. of forest, which Kungsleden thinks has the potential for subdivision, and after detailed planning, will generate development rights for residential properties with total area of 10,000 sq.m.

Among the tenants are The City of Trollhättan, offices and restaurants with a number of tenants, such as Siemens, Bygg 6:an and the elevator company Kone Hissar. Part of the leasable area consists of Student housing and consulting premises. Upon completion, the property will have a vacancy level of approximately 15%. Kungsleden expects most of the floor space to be lettable to local businesses.

Completion is scheduled for 22 June 2011.

“The purchase provides us with a property that should be the template for a property with a lot of opportunities. The base is a stable cash flow, with residential property, the City of Trollhättan as tenant and the objective of increasing the property yield as a result of active letting efforts. There is additional potential to create development rights,” commented Kungsleden’s Chief Executive Thomas Erséus.

For more information, please contact:
Thomas Erséus, Chief Executive| tel +46 (0)8 503 052 04 | mobile +46 (0)70 378 20 24
Johan Risberg, Deputy Chief Executive Kungsleden | tel +46 (0)8 503 052 06 | mobile +46 (0)70-690 65

This press release is available in English at www.kungsleden.se

Kungsleden AB (publ) discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 8 June 2011 at 2:00 p.m.

Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 31 March 2011, the property portfolio comprised 629 properties with a book value of SEK 25.5 bn. The holding was located in approximately 141 municipalities, although concentrated on the Swedish provinces of Gotaland and Svealand, and the Oresund region. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.

]]>

Kungsleden purchases property for SEK 52 m

Fri, 29 Apr 2011 08:00:00 +0100

This property is located in Motala, south west of Stockholm, and has a leasable area of approximately 30,000 sq.m. Rental value is approximately SEK 6 m.

The whole property is let to engineering firm AB Motala Verkstad on a 17-year lease. Motala Verkstad designs, processes and assembles mechanical systems.

Completion is scheduled for 3 May 2011.

“This is a really good and high-yielding property with a stable tenant,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Strong profits and a larger property portfolio

Thu, 28 Apr 2011 08:00:00 +0100

Net sales increased by 5 per cent to SEK 601 (571) m, and gross profit of SEK 354 (355) m was in line with the previous year.

Profit before tax was SEK 551 (36) m. Profit after tax was SEK 406 (58) m, equivalent to SEK 3.00 (0.40) per share. The profit increase is due to value changes on properties and financial instruments.

As of 31 March 2011, the property portfolio comprised 629 (592) properties with a book value of SEK 25,540 (21,501) m.

38 (0) properties were purchased for SEK 3,825 (0) m. 2 (30) properties were also sold for SEK 5 (602) m, generating a profit of SEK 3 (3) m. These sales affected profit for calculating dividends by SEK 3 (28) m.

Profit for calculating dividends for the interim period was SEK 78 (126) m, equivalent to SEK 0.60 (0.90) per share.

The estimated profit for calculating dividends for the full year 2011 is unchanged at SEK 650 m, or SEK 4.80 per share.

“In business terms, the first quarter progressed as planned, producing profit before tax of SEK 550 m, against SEK 36 m in the corresponding quarter of last year. The main explanation for the profit improvement was positive value changes in the public property portfolio, but also on our financial instruments.

Sales grew by nearly SEK 30 m to just over SEK 600 m. The increase is wholly due to a sharp increase in module sales. In addition, Nordic Modular Group achieved strong order intake in module production and module leasing during the first quarter, which have not yet fed through to profits. Rental revenue and operating net were somewhat lower due to our portfolio being slightly smaller than last year. Underlying operations progressed stably.

Kungsleden is a company in constant regeneration and change. In the past year, our commercial portfolio secured a more prominent role after Hemsö became an independent company. But our business model rests on the same footing as before. In the first quarter this year, we relocated Kungsleden’s head office and Hemsö to new addresses.

We sold two properties for SEK 5 m in the quarter, while acquiring the majority of Nordic & Russia Properties’ portfolio, and some other smaller properties, totalling 38 properties, for just over SEK 3.8 bn at an average property yield of 9.9 per cent. These transactions increase annualised profit for calculating dividends by approximately SEK 200 m. Despite large-scale property acquisitions, we achieved a good equity/assets ratio for Kungsleden of 27 per cent at the end of the quarter.

Administration costs increased somewhat, due to factors including Kungsleden and Hemsö now having separate organisations and premises. We incurred some costs in tandem with relocating to a new head office and for the take-over of Nordic & Russia Properties. We expect somewhat higher administration costs in 2011 as a result of the division of Hemsö and Kungsleden, and that the property portfolio is larger.

The first quarter saw a severe winter with heavy snowfall, and the associated costs. But the lettings market remains healthy and my view is that vacancy levels will decrease somewhat further in the year. Nordic & Russia Propertie’s portfolio has a vacancy level of only 5 per cent, which means that our overall vacancy level will reduce.

Kungsleden advanced to third-best workplace of Sweden’s mid-sized organisations, and was the best of the property companies in the Great Place to Work survey. In research conducted by Universum, we were recognised as the Best Improver of the Year, and nominated as Employer of the Year. Accordingly, we enjoy good prospects to really welcome our new people from Nordic & Russia Properties, and to integrate this large portfolio with its total rental value of just over SEK 560 m.”

Thomas Erséus
Chief Executive

]]>

Kungsleden purchases property for SEK 97 m

Tue, 19 Apr 2011 15:15:00 +0100

This property is located in Upplands Väsby, 30 km north of Stockholm, and has leasable area of approximately 13,500 sq.m. of which 85% is warehousing and 15% is offices. The rental value is about SEK 8.3 m.

The whole property is let to Jobman Workwear, a leading workwear brand, on a five-year lease. Completion is scheduled for 3 May 2011.

“This property fits well in Kungsleden’s portfolio with its high and stable returns. It is in a good estate with good communications. A stable tenant also assures continued stable cash flow,” commented Kungsleden's Chief Executive Thomas Erséus.

]]>

Annual General Meeting of Kungsleden

Thu, 14 Apr 2011 08:30:00 +0100

In his address to the AGM, Chief Executive Thomas Erséus reviewed the financial year 2011 and current market conditions. The Chief Executive’s address was recorded on video, and will be available in Swedish at Kungsleden’s website, www.kungsleden.se, from 14 April 2011 onwards.

The AGM discharged the Board members and Chief Executive from liability for the financial year 2010. The following Board members were re-elected Thomas Erséus, Magnus Meyer, Charlotta Wikström and Kia Orback Pettersson. Håkan Bryngelson, Joachim Gahm, Lars Holmgren and Biljana Pehrsson were elected as Board members. Håkan Bryngelson was elected as Chairman of the Board.

The Meeting appointed Peter Gustafson (representing Olle Florén and companies), Eva Gottfridsdotter-Nilsson (representing Länsförsäkringar Fondförvaltning) and Peter van Berlekom (representing Nordea Investment Management as members of the Nomination Committee. Håkan Bryngelson is a member in his capacity as Chairman of the Board.

The Meeting adopted the Board of Directors’ proposed guidelines for remuneration and other employment terms for senior managers.

The Meeting approved the Nomination Committee’s proposal and appointed KPMG AB as audit firm, with the Senior Auditor being Authorised Public Accountant Björn Flink, until the end of the AGM 2015.

The Meeting resolved on an amendment of the Articles of Association meaning the auditors’ assignment lasts four years.

]]>

Kungsleden publishes prospectus and applies for listing of issued bond loan on NASDAQ OMX Stockholm

Tue, 12 Apr 2011 11:00:00 +0100

The prospectus has been approved by the Swedish Financial Supervisory Authority and Kungsleden has applied for listing of the bonds on NASDAQ OMX Stockholm.

The prospectus is now published on Kungsleden’s webpage www.kungsleden.se and will be made available on the Swedish Financial Supervisory Authority’s webpage www.fi.se. The information is only available in Swedish.

The announcement of the prospectus and the application for listing of the bonds on NASDAQ OMX Stockholm is not in any part an offer to subscribe or acquire the bonds from Kungsleden, but a consequence of the conditions of the bond loan.

]]>

Kungsleden in property swap deal with Peab

Tue, 12 Apr 2011 08:30:00 +0100

These public properties, which are under construction, have gross leasable area of approximately 4,800 sq.m. and rental value of around SEK 10.5 m.

These properties consist of a police station in Köping, west of Stockholm, which will be let to the Police on a 12-year agreement, a pre-school building in Sigtuna, north of Stockholm, which will be let to independent preschool operator Pysslingen on a 15-year agreement and one retirement home in the Municipality of Uppsala, north of Stockholm, which will be let on a 20-year agreement. This transaction has no effect on profit for calculating dividends.

]]>

Suburban opera house wins student architecture competition

Fri, 08 Apr 2011 13:30:00 +0100

“Our vision is to convert the Slagsta Strand property to an opera house,” commented Joel Cederberg, who represented the winning entry, “we want to question the city centres’ monopoly on high culture, and give the suburbs recognition. The aim of this proposal is to highlight the ongoing dialogue on integration between social classes, ages and ethnicities.”

“Kungsleden is working actively to create something that’s sustainable and long term for the building and site. The creativity that students at KTH have demonstrated is fantastic. The winning entry is also very consistent with what Kungsleden represents; fresh ideas, being there and making things easier. The fresh ideas are obvious, while this is also a good way to show we’re there in society, and making it easier for more people to enjoy art and music. In this competition, we’re utilising the ideas of talented students, to create a building full of opportunities, and thus help create a living urban district,” commented Kungsleden’s Business Developer, Frida Stannow Lind.

The winning entry was by architecture students Gustav Wallerius, Lisa Ekström, Karin Hedqvist and Joel Cederberg. Awards for the top three entries were presented on Friday where the winner received SEK 25 000.

]]>

Kungsleden—the best workplace of Sweden’s property companies

Thu, 07 Apr 2011 08:00:00 +0100

In recent years, Kungsleden has worked consciously on its internal corporate culture, and for the fourth consecutive year, Kungsleden is showing signs of a stronger organisation, with people that feel better and a positive atmosphere. In 2010, the commitment index was 87%, against the norm for high-performing organisations of 75%. The results for the year-2010 employee satisfaction survey conducted by Synovate showed that Kungsleden had an employee satisfaction index of 73% and a leadership index of 75%, compared to 71 and 70% respectively last year.

“I’m really proud that this year, Kungsleden is among Sweden’s best workplaces once again, and that moreover, we succeeded in advancing to third spot. This recognition is really pleasing, and I view it as evidence that our efforts related to employee commitment are heading in the right direction. Job satisfaction is central to motivation and results,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Göran Linder leaves Kungsleden

Fri, 25 Mar 2011 09:00:00 +0100

Göran Linder has developed the property portfolio for public properties within Kungsleden which now located in the stand-alone company Hemsö, equally owned by Kungsleden and the Third Swedish National Pension Fund. Göran has also been responsible for the retirement homes in Germany, which Kungsleden sold last year to Hemsö.

"Göran has done a fantastic job especially in building our portfolio for public properties. When Göran after 13 years in the company now has decided to try something else, I can only wish him all the best," commented Kungsleden’s Chief Executive

]]>

Kungsleden purchases property for SEK 148 m

Wed, 23 Mar 2011 09:00:00 +0100

This property is in an enterprise estate in Kista, north of Stockholm, and has leasable area of about 7,300 sq.m. Total rental value is approximately SEK 15 m.

The majority of this property, which consists of offices, will be let to Office Management on a ten-year rent agreement. Office Management is a full-range office equipment vendor. The remainder is let to operations consultant Plantvision AB and telecom company Tele 2.

Completion is scheduled for 1 April 2011.

“This property offers good and stable returns for the long term and is a good complement to Kungsleden’s property portfolio. In recent years, Kista has advanced its positioning as an office market,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden’s Annual Report 2010

Wed, 23 Mar 2011 09:00:00 +0100

The Annual Report from Kungsleden AB (publ) is available at www.kungsleden.se.

]]>

Invitation to the Annual General Meeting of Kungsleden AB (publ)

Mon, 07 Mar 2011 08:00:00 +0100

For the election of the Board of Directors, the Nomination Committee has proposed re-election of Thomas Erséus, Magnus Meyer, Kia Orback Pettersson and Charlotta Wikström. The Nomination Committee proposes the election of Håkan Bryngelson, Joachim Gahm, Lars Holmgren and Biljana Pehrsson. The Committee is also proposing that Håkan Bryngelson is elected Chairman of the Board. Board members Per-Anders Ovin (also Chairman of the Board), Leif Garph, Jan Nygren and Jonas Nyrén have declined re-election.

In the years 1996-2008, Håkan Bryngelson was Chief Executive of Swedish property company Vasakronan. He was also previously Chief Executive of care services provider LIC Care. Mr. Bryngelson is currently Chairman of services sector organisations Almega and Almega Tjänsteförbunden, architecture practice Tengbomgruppen and property company Fastighetsbolaget Hemsö (held equally by Kungsleden and AP3, the Swedish Third Pension Insurance Fund) and Deputy Chairman of the Confederation of Swedish Enterprise. His directorships also include Volvo Aero. Mr. Bryngelson holds a B.Sc. (Eng.)

Joachim Gahm is a Board member and partner in Sustainable Growth Capital SGC. He was previously Chief Executive of E. Öhman J:or Investment and Deputy Chief Executive of E. Öhman J:or Fondkommission. Mr. Gahm is a Board member of Arise Windpower. He holds a B.Sc. (Econ.)

Lars Holmgren was Chief Financial Officer of the Federation of Swedish Farmers, LRF, until 2010. He was formerly a Board member of property company Klövern and Chairman and Board member of another property company, Diös Fastigheter. Mr. Holmgren is a Board member of outdoor environment project manager Svensk Markservice. He holds of B.Sc. in chemical engineering and business administration.

Biljana Pehrsson is Deputy Chief Executive of East Capital Private Equity and Head of Real Estate. Her previous positions include being Chief Executive of architecture and planning practice Centrumutveckling Håkan Karlsson. Biljana Pehrsson is a Board member of property company Vasallen. She holds a B.Sc. (Eng.)

The Nomination Committee also proposes that KPMG AB is appointed as audit firm, with Authorised Public Accountant Björn Flink as Senior Auditor, until the end of the AGM 2015.

The Board of Directors

Kungsleden AB (publ)

Appendix: invitation to Annual General Meeting

]]>

Kungsleden issues three-year bond loan of SEK 600 m

Thu, 24 Feb 2011 09:00:00 +0100

The bonds have a coupon of three-month STBOR plus 2,75%. Kungsleden will be applying for quotation of the bonds on the NASDAQ OMX Stockholm.

Commenting, Thomas Erséus, Kungsleden’s Chief Executive, said: “with the aim of being a repeat issuer on the bond market, Kungsleden completed another bond issue today. I’m pleased to see very positive demand for this issue, which was substantially over-subscribed. This bond strengthens Kungsleden’s capital base and complements our existing bank funding. Our credit portfolio is also extended, while increasing our financial scope for action.”

The principal will primarily be used for acquisitions and investments in Kungsleden’s existing portfolio.

Carnegie Investment Bank AB (publ) has been Kungsleden’s adviser on the issue.

]]>

Increased profits and a secure foundation for growth

Thu, 17 Feb 2011 08:00:00 +0100

Net sales decreased by 11 per cent to SEK 2,304 (2,602) m, and gross profit decreased by 15 per cent to SEK 1,545 (1,817) m due to the previous year’s transaction with AP3 (the Swedish Third Pension Insurance Fund) and increased costs relating to the severe winter.

Profit before tax was SEK 1,186 (351) m. Profit after tax was SEK 841 (250) m, equivalent to SEK 6.20 (1.80) per share.

As of 31 December 2010, the property portfolio comprised 592 (585) properties with a book value of SEK 21,501 (21,861) m.

64 (18) properties were acquired for SEK 2,356 (1,307) m. 63 (274) properties were also divested for SEK 2,929 (7,808) m, generating a profit of SEK 33 (–135) m. These divestments affected profit for calculating dividends by SEK 53 (895) m. After the end of the interim period, a final agreement was signed to acquire 36 properties for SEK 3.6 bn from NR Nordic & Russia Properties Ltd.

Profit for calculating dividends for 2010 was SEK 530 (1,022) m, equivalent to SEK 3.90 (7.50) per share.

The Board of Directors is proposing a dividend of SEK 2.00 (3.75) per share.

The estimated profit for calculating dividends for the full year 2011 is SEK 650 m, or SEK 4.80 per share.

Fourth quarter (October-December)

Net sales rose by 2 per cent to SEK 599 (588) m.
Profit before tax was SEK 781 (41) m after the value of financial instruments increased. Net profit after tax was SEK 524 (–90) m, or SEK 3.80 (–0.70) per share.

“Going into 2010, we anticipated a weak increase in vacancies, and somewhat lower revenues due to a negative consumer price index. What we didn’t anticipate was such a cold winter and the resulting increased costs. Summarising the year, I can conclude that profits for the quarter and year were stable, even if the winter weather and somewhat higher vacancy levels did impact our figures adversely.

Comparisons with the full year 2009 are affected by the part-sale of public properties to AP3 (the Swedish Third Pension Insurance Fund), and the fact that earlier in 2010, we were net sellers of property. In like-for-like terms, our rental revenues reduced by 2 per cent. At year-end, the average property yield was 6.4 per cent, against 7.0 per cent in the year before.

Net profit increased robustly, largely thanks to increased unrealised values on properties and financial instruments totalling SEK 617 m.

Transaction volumes expanded markedly in the fourth quarter, and this also applied to Kungsleden. The largest transactions included the now-unconditional acquisition of 36 properties for SEK 3.6 billion including transaction costs from NR Nordic & Russia Properties Ltd. at a property yield of approximately 10 per cent. The sale of six commercial properties in Ludvika, central Sweden, to ABB for SEK 800 m can be considered as Kungsleden relocating the ABB holding to Västerås, north west of Stockholm, reducing a potential location risk in Ludvika. In the fourth quarter, we also sold our retirement homes holding in Germany to Hemsö, our 50 per cent owned company, for SEK 1.3 billion.

With a stronger Swedish economy, the prospects of retail properties are improving, and in 2010, Kungsleden made some SEK 800 m of acquisitions of stores and shopping centres. Their tenants represent strong brands and these properties are in good retail locations. One example is the acquisition of six retail properties, several of them in the Mälardalen region, for around SEK 520 m at a property yield of about 8 per cent.

With the transactions completed in 2010 and the formation of Hemsö, Kungsleden has undergone extensive change over the past year, and is now a company in good shape, and to some extent, a new form. But its foundation is the same business model that Kungsleden has always had.

The intensive activity of the quarter corroborates the transaction market has come back to life. I view our prospects of continuing to maintain higher activity levels, and thus getting Kungsleden’s portfolio to grow, with confidence.

My view is that vacancy levels stabilised in late-2010. Looking forward, we are seeing a gradual improvement on the transaction and lettings markets. We are also seeing signs of inflation returning, and that there will be opportunities for some rent increases.

The proposed dividend for 2010 is SEK 2.00 (3.75) per share. The Board of Directors’ estimate of profit for calculating dividends for 2011 is SEK 650 m.”

Thomas Erséus
Chief Executive

]]>

Kungsleden completes SEK 3.6 bn acquisition

Mon, 14 Feb 2011 08:00:00 +0100

Kungsleden is acquiring 36 properties, 33 of which are located in Sweden, one in Germany and two in Poland, for a purchase price of approximately SEK 3.6 bn including transaction costs. Completion is scheduled for 31 March 2011.

The 36 properties have gross leasable area of 825,000 sq.m., 93% of which is in Sweden. Total rental value of SEK 563 m corresponds to a property yield of about 10%. After completion, this acquisition will contribute around SEK 200 m to Kungsleden’s annual profit for calculating dividends.

This property portfolio consists of office and industrial properties and features stable returns and high-quality tenants. The current vacancy rate corresponds to 5% of total rental value. ABB, representing some 50% of rental value, is the largest tenant, followed by Finnveden AB, with some 10%.

“I’m really satisfied that we’ve completed this transaction at a good yield. Our organisation is ready to start working on these properties, and I take a positive view of Kungsleden’s relationship with ABB strengthening further,” commented Kungsleden’s Chief Executive Thomas Erséus.

Pangea Property Partners is acting as financial adviser and property adviser. Mannheimer Swartling Advokatbyrå is legal adviser.

]]>

Nomination Committee proposals for the Board of Directors of Kungsleden AB (publ)

Wed, 09 Feb 2011 09:00:00 +0100

Per-Anders Ovin, Leif Garph, Jan Nygren and Jonas Nyrén have informed the Nomination Committee that they are not available for re-election.

In the years 1996-2008, Håkan Bryngelson was Chief Executive of Swedish property company Vasakronan. He was also previously Chief Executive of care services provider LIC Care. Mr. Bryngelson is currently Chairman of services sector organisations Almega and Almega Tjänsteförbunden, architecture practice Tengbom Gruppen and property company Fastighetsbolaget Hemsö (held equally by Kungsleden and AP3, the Swedish Third Pension Insurance Fund) and Deputy Chairman of the Confederation of Swedish Enterprise. His directorships also include Volvo Aero.

Joachim Gahm is a Board member and founding partner of Sustainable Growth Capital SGC. He was previously Chief Executive of E. Öhman J:or Investment and Head of Equities and Deputy Chief Executive of E. Öhman J:or Fondkommission. Mr. Gahm is a Board member of Arise Windpower.

Lars Holmgren was Chief Financial Officer of the Federation of Swedish Farmers, LRF, until 2010. He was formerly a Board member of property company Klövern and Chairman and Board member of another property company, Diös Fastigheter. Mr. Holmgren is a Board member of outdoor environment project manager Svensk Markservice.

Biljana Pehrsson is Deputy Chief Executive of East Capital Private Equity and Head of Real Estate. Her previous positions include being Chief Executive of architecture and planning practice Centrumutveckling Håkan Karlsson. Biljana Pehrsson is a Board member of property company Vasallen.

The members of Kungsleden’s Nomination Committee are Peter Gustafson (Chairman), representing Olle Florén and companies, Eva Gottfridsdotter-Nilsson, representing Länsförsäkringar Fondförvaltning, Peter van Berlekom, representing Nordea Investment Management and Chairman of the Board Per Anders Ovin. Because Mr. Ovin is leaving the Board at the AGM, he did not participate in preparing these proposals.

The Nomination Committee’s complete proposals for resolution at the AGM 2011, more information on the proposed Board members and a report on the Nomination Committee’s work will be presented by no later than coincident with publication of the invitation to the AGM.

]]>

Kungsleden updates on progress of transaction

Mon, 31 Jan 2011 16:30:00 +0100

Significant progress has been made during the last six weeks. However a number of legal matters still need to be finalised and discussions are ongoing.

A further announcement in respect of the Transaction will be made in due course.

]]>

Kungsleden selling public properties in Germany for SEK 1.3 bn

Wed, 29 Dec 2010 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is divesting 17 properties in Germany for a total purchase price of approx. SEK 1.3 bn at a property yield of just over 7%. The buyer is Hemsö Fastighets AB, in which Kungsleden is a joint venture partner. The sales price is about SEK 20 m below book value and some SEK 35 m less than acquisition cost. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2010.

“Kungsleden acquired this property portfolio in Germany in 2006 and 2007. Through the formation of Hemsö, the retirement homes portfolio in Germany is no longer such a natural component of Kungsleden, but fits better in Hemsö. This portfolio has stable returns, and with Hemsö as its owner, we will benefit from ongoing earnings, while also freeing up funds for property acquisitions that suit Kungsleden’s portfolio better,” commented Kungsleden’s Chief Executive Thomas Erséus.

These properties consist of retirement homes, the majority located in the Rohr region and in Frankfurt. Gross leasable area is around 75,400 sq.m. and total rental value is EUR 10,873,000.

Completion is scheduled for the first quarter of 2011.

Divestment is conditional on funding and a concluded due diligence process.

]]>

Kungsleden divests property for SEK 107 m

Wed, 22 Dec 2010 19:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling a commercial property for a purchase price of SEK 107 m. The sales price exceeds book value by SEK 7 m and acquisition cost by SEK 27 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2010.

This office property is located in Sollentuna, north of Stockholm, and has leasable area of about 7,200 sq.m. The Swedish Social Insurance Administration is the tenant on some 83% of the area. The remainder, a basement, is vacant.

The acquirer is Hemfosa Fastigheter AB and completion is scheduled for 1 March 2011.

“I’m really satisfied about doing a deal well over book value and at a good profit,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

GreenBuilding accreditation for Kungsleden and approval for SwedbankRobur’s sustainability funds

Wed, 22 Dec 2010 08:00:00 +0100

In the past few days, listed Swedish property company Kungsleden AB (publ) has received its first accreditation from the EU GreenBuilding programme. This property is in Sollentuna, near Stockholm, and is mostly let to the Swedish Social Insurance Administration.

Approval for accreditation requires reducing energy consumption by at least 25%. Kungsleden’s energy-saving measures have resulted in energy consumption in the property reducing by 29%.

Kungsleden’s environmental work has also been recognised by mutual fund corporation SwedbankRobur, who after an evaluation process for the year, announced that Kungsleden’s shares had been approved for all its sustainability funds. The citation read as follows:

Kungsleden’s sustainability work has progressed very positively since our previous research (2007), in terms of strategy and operational work, and these matters appear to be well supported by management. In addition, the company has implemented concrete energy-saving measures with good results, and also offers its tenants green letting agreements with mutual incentives for energy saving.

“It really feels great to have external observers recognise our environmental work,” commented” Maria Sandell, Kungsleden’s Environmental Manager.

]]>

Kungsleden publishes prospectus and applies for listing of issued bond loan on NASDAQ OMX Stockholm

Tue, 21 Dec 2010 11:30:00 +0100

The prospectus has been approved by the Swedish Financial Supervisory Authority and Kungsleden has applied for listing of the bonds on NASDAQ OMX Stockholm.

-
Kungsleden AB (publ) discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 21 December 2010 at 11:30 a.m.
-

]]>

Kungsleden acquires four properties in Skara for SEK 71 m

Mon, 20 Dec 2010 09:00:00 +0100

Through Hemsö, its 50 percent joint venture with AP3 (the Swedish Third Pension Insurance Fund), listed Swedish property company Kungsleden AB (publ) is acquiring four properties for a total purchase price of about SEK 71 m including transaction costs. The property yield is 8.2%.

These properties are located in Skara municipality in South-western Sweden and have gross leasable area of 11,800 sq.m. Three of the properties belong to the Skara Campus area where SLU, the Swedish University of Agricultural Sciences, is located. Total rental value is approximately SEK 11 m.

The main tenants are SLU and the horse clinics of ATG, the Swedish Horse Racing Totalisator Board, who together make up 70% of the rental value, followed by the Blue Star Animal Hospital at 13%.

Completion on the properties is scheduled for 1 February 2011.

“I’m pleased that we increase our property portfolio in Skara where we already have a well-established cooperation with the municipality. The properties fit with the existing property portfolio with high and stable returns,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden acquiring SEK 435m of property

Mon, 20 Dec 2010 08:30:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring six commercial properties for a total purchase price of SEK 435m at a property yield of approx. 7.1 percent.

The properties consist of office, retail and warehouse and the gross leasable area amounts to approximately 34 000 sqm. They are of a very high standard, and for their businesses, in prime sites in Malmö. The total rental value is about SEK 34m.

Completion is scheduled to 2011, three of the properties 11 January,

two of the properties 1 April and one property 1 July.

“These properties are contemporary and flexible, as well as being in good locations in a strong region. The tenant structure is favourable with an average contract term of 5,3 years, ensuring good and stable returns over time,” Commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden – signs a SEK 3.6bn property acquisition agreement

Mon, 20 Dec 2010 08:30:00 +0100

Listed Swedish property company Kungsleden AB (publ) has signed a letter of intent to acquire the majority of the properties held by NR Nordic & Russia Properties Ltd.

The transaction has an underlying gross property value of approximately SEK 4.4bn, of which approximately SEK 840m relates to the four properties held by Nordic & Russia Properties Ltd in Russia. The Russian properties will be acquired by Mr. Thomas Lindeborg through a fully secured back-to-back agreement. Linked to this back-to-back agreement, Kungsleden will make available a five-year EUR 27m vendor note in favour of Thomas Lindeborg. Kungsleden is at any time from now and during the duration of the vendor note, free to dispose the note to any third party. The remaining 36 properties, of which 33 in Sweden, one in Germany as well as two in Poland, are acquired by Kungsleden for a purchase price of approximately SEK 3.6bn including transaction costs. Completion of the core portfolio transaction is scheduled for 31 March 2011.

Kungsleden acquires a property portfolio consisting of 36 properties with a leasable area of 825,000 sq.m., of which 93 percent is located in Sweden. Total rental value is SEK 563m, equating to a property yield of approximately 10 percent. The acquisition, after completion, will on an annual basis contribute to Kungsleden’s profit for calculated dividend with approximately SEK 200m.

The portfolio comprises of office and industrial properties and is characterised by stable returns with high quality tenants. The current vacancy rate is equivalent to 5 percent of the total rental value. The largest tenant, accounting for approximately 50 percent of rental value is ABB, followed by Finnveden AB with approximately 10 percent.

The majority of the ABB properties are located in Västerås, northwest of Stockholm, and corresponds to around 38 percent of gross leasable area. The average remaining contract length amounts to 6 years with a master lease contract expiring 31 December 2016.

The total average property yield for Kungsleden will after completion and following the divestment of SEK 809m in Ludvika, increase from 6.6 percent to approximately 7.0 percent. The Ludvika transaction was previously announced in a press release on 24 November 2010.

“I’m very satisfied that we have acquired an attractive portfolio to a good property yield. It has been an advantage for us to be able to provide NR with a solution for the entire portfolio in its realisation process together with Mr. Thomas Lindeborg who acquires the Russian properties. The properties represent a good fit to Kungsleden’s existing portfolio and further strengthens Kungsleden’s relationship to long-time client ABB,” commented Kungsleden’s Chief Executive Thomas Erséus.

The transaction is supported by the four largest shareholders in NR Nordic and Russia Properties; London & Regional Group, Weiss Asset Management LP, Laxey Partners Ltd, QVT Fund LP, as well as Mr. Thomas Lindeborg, who together represent a total of 71 percent of the shares. Preparatory work with the due diligence process will commence immediately and signing is scheduled for 31 January 2011.

NR Nordic & Russia Properties Ltd, is a Jersey based company listed on Euronext in Amsterdam with a market capitalisation of EUR 157m (approximately SEK 1.4bn).

Pangea Property Partners is acting as financial and property advisers. Mannheimer Swartling Advokatbyrå is acting as legal advisers.

]]>

Kungsleden makes SEK 177 m property acquisition

Fri, 17 Dec 2010 14:30:00 +0100

These are retail properties with gross leasable area of approximately 12,000 sq.m. Total rental value is around SEK 16 m.

The first property is in Tumba, south west of Stockholm. It has a leasable area of about 7,000 sq.m. The largest tenant is nationwide discount food retailer Willys, which is leasing 55% of the area on a contract extending until 2020. Other tenants include McDonald’s, HiSport and Kom&Lek. These tenants also have new ten-year agreements. A project of around SEK 50 m has been initiated to adapt the premises to tenant needs. Conversion will be conducted and funded by the vendor before completion.

The second property, of some 5000 sq.m., is in an attractive trading estate on the main route into the southern Swedish city of Kristianstad. Willys is the largest tenant, and has signed a ten-year agreement on 87% of the area. Skopunkten is in a current three-year agreement on the remaining 13%.

The vendor is Danish company, NewCap Holding A/S, and completion is scheduled for 1 September 2011 for the property in Kristianstad and 1 November 2011 for Tumba.

“These properties are a good fit in Kungsleden’s portfolio with their high and stable returns. They are in very good locations for retailing and, upon completion, will be in the optimum condition,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden divests properties for SEK 205 m

Mon, 13 Dec 2010 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is divesting six properties for a total purchase price of approximately SEK 205 m in three separate transactions, for a property yield of 4.5%. Five of these properties are held in Hemsö, Kungsleden’s joint venture with AP3 (the Swedish Third Pension Insurance Fund). The sales price is approximately SEK 4 m above book value, and about SEK 46 m above acquisition cost. Some SEK 22 m will be posted to Kungsleden’s profit for calculating dividends for 2010.

One property is in Carlberlah, east of Hannover, Germany, with leasable area of 3,066 sq.m. The tenant is the Red Cross, who is also the buyer of the property. The purchase price amounts to approximately SEK 39 m.

Four of the properties are in Linköping, southwest of Stockholm, with gross leasable area of 2,259 sq.m. Three of these properties are let as pre-schools to the Municipality of Linköping. The fourth property consists of accommodation adapted for the disabled and student apartments. Vasaparken Fastighets AB is the buyer of all four properties. The purchase price amounts to approximately SEK 26 m.

One property is at Roslagstull in Stockholm. The Red Cross runs a retirement home in this property, which has leasable area of 5,188 sq.m. The buyer of this property is Oscar Properties. The purchase price amounts to approximately SEK 140 m.

Completion on the Linköping properties is with immediate effect. Completion on the property in Germany will be in January, and on the property in Stockholm, in summer 2012.

]]>

Kungsleden acquires care properties

Fri, 10 Dec 2010 09:00:00 +0100

These properties are located in western Sweden and owned by the county council of Västra Götaland (VGR) and have gross leasable area of 55,000 sq.m. Most of the properties are let by VGR and total rental value is SEK 50.2 m.

Completion on the properties is scheduled for 1 February 2011.

“I’m pleased that VGR has entrusted us again through Hemsö to acquire and manage care properties. This property portfolio provides us with good and stable returns,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden—acquiring properties for SEK 40 m and divesting for SEK 35 m

Mon, 29 Nov 2010 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring a site-leasehold right for a purchase price of just over SEK 40 m, at a property yield of 9%, and is divesting two commercial properties for a total purchase price of SEK 35 m, at a property yield of approx. 6.5%. The sales price exceeds book value by SEK 5 m and acquisition cost by about SEK 4 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2010.

The acquired property has gross leasable area of 5,046 sq.m. and a rental value of about SEK 5.7 m. This property is located in Högdalen, south of Stockholm, and mainly consists of office and educational premises. This property has ten tenants, the largest of which are Waldmann and Competens, who together, represent about 50% of total rental value. Waldmann develops lighting concepts for different sectors worldwide. Competens is an adult education provider.

Completion is scheduled for 16 December 2010.

The two divested office and warehouse premises are located in Gustavsberg in the Municipality of Värmdö, and have leasable area of around 3,700 sq.m.

Completion is scheduled for 15 December. The buyer is Grindstugärde AB.

“I am pleased to be able to purchase at a yield of 9% and sell at about 6.5%. The property we are acquiring has a good location with long-term tenants, which is a guarantee of stable cash flow,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden—SEK 520 m property acquisition

Fri, 26 Nov 2010 11:30:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring six retail properties for a total purchase price of approx. SEK 520 m. The property yield is about 8% and total rental value is just over SEK 69 m.

Gross leasable area is around 48,500 sq.m. divided between five shopping centres in Eskilstuna, Katrineholm, Uddevalla, Stockholm and Köping, and one outdoor retail property with an adjacent undeveloped plot in Nyköping.

The vacancy rate in the portfolio is low, corresponding to about 3%. The ten largest tenants are Coop Fastigheter AB, Lindex, Kappahl, Klädhuset M, Jysk, Bernhardssons Möbler, Rusta, Åhléns, H&M and Medstop Apotek. These tenants represent around 60% of this portfolio’s total rental value.

Nordic Real Estate Partners is the vendor of these properties, and completion is scheduled before year-end 2010.

“I’m very satisfied that we have acquired an attractive retail portfolio of centrally located shopping centres and one attractively located outdoor retail property. This property portfolio has a good mix of strong tenants. It will give us good and stable returns and future potential in the form of development rights,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden divests six properties for SEK 809 m

Wed, 24 Nov 2010 08:00:00 +0100

Swedish property company Kungsleden AB (publ) is selling six commercial properties for a total purchase price of SEK 809 m. The sales price exceeds book value by approx. SEK 23 m and is consistent with acquisition cost.

The properties are located in Ludvika, north west of Stockholm, and are essentially let to ABB. Gross leasable area is approximately 190,000 sq.m. and total rental value is about SEK 87 m.

The buyer of these properties is ABB Fastighet AB. Kungsleden completed the divestment on 23 November 2010.

“Because Kungsleden’s property portfolio in a location like Ludvika is already sizeable, we have opted to let ABB acquire the properties to develop this portfolio itself. After the divestment, ABB remains a significant tenant for Kungsleden”, commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Change to Kungsleden’s Nomination Committee

Mon, 15 Nov 2010 10:00:00 +0100

Frank Larsson, representing Handelsbanken Fonder, has withdrawn as a member and Chairman of the Nomination Committee of listed Swedish property company Kungsleden AB (publ). Peter Gustafson, representing Olle Florén and companies, has been appointed Chairman.

Kungsleden’s Nomination Committee now has the following members: Peter Gustafson, representing Olle Florén and companies (Chairman), Eva Gottfridsdotter-Nilsson, representing Länsförsäkringar Fondförvaltning, Peter van Berlekom representing Nordea Investment Management and Chairman of the Board Per-Anders Ovin.

]]>

Kungsleden sells a property for SEK 158 m

Wed, 10 Nov 2010 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is divesting an office property in Kristianstad, southern Sweden, for SEK 158 m. The sales price is consistent with book value and acquisition cost.

Gross leasable area is approximately 14,000 sq.m.

The acquirer, Gammab AB, is a subsidiary of family owned property firm Byggnads AB Bröderna Persson. Completion is planned for 1 December 2010.

“We’re continuing our work on portfolio enhancement,” commented Kungsleden’s Chief Executive Thomas Erséus, “we’re seeing a change in our tenant mix, which is why we’re selling this property.”

]]>

Kungsleden — New business development professionals

Mon, 01 Nov 2010 15:00:00 +0100

Andreas Norberg has been employed as a Project Manager in Transactions, and will work on property transactions and analysis. He is currently Director of CBRE’s Capital Markets division, where he has been advising on transactions for the past eight years.

Frida Stannow Lind has been employed as a Business Developer; her duties will include developing Kungsleden’s property Botvidsgymnasiet (Botvid Senior High School) in Slagsta, west of Stockholm. Frida has broad experience of the property sector, holding various executive positions since 1992, for companies including Niam, Drott, Locum, and most recently as Property Development Manager for Ebab.

“Increased activity on the transaction market is benefitting Kungsleden. We’re now really on the lookout for new deal opportunities, and I’m delighted about these new hirings,” commented Ylva Sarby Westman, Kungsleden’s Business Development Manager.

Andreas Norberg

Frida Stannow Lind

]]>

Interim Report January – September 2010

Thu, 21 Oct 2010 13:00:00 +0100

Net sales fell by 15 per cent to SEK 1,705 (2,015) m, and gross profit fell by 17 per cent to SEK 1,160 (1,398) m due to the previous year’s transaction with AP3 (the Swedish Third Pension Insurance Fund) and increased costs relating to the severe winter.

Profit before tax was SEK 405 (309) m. Profit after tax was SEK 317 (339) m, equivalent to SEK 2.30 (2.50) per share.

As of 30 September 2010, the property portfolio comprised 559 (585) properties with a book value of SEK 21,800 (21,861) m.

12 (3) properties were acquired for SEK 839 (169) m. 41 (262) properties were also divested for SEK 1,028 (7,538) m, generating a profit of SEK 12 (–126) m. These divestments affected profit for calculating dividends by SEK 14 (878) m.

Profit for calculating dividends for the interim period was SEK 379 (1,016) m, equivalent to SEK 2.80 (7.40) per share.

The new estimate of profit for calculating dividends for the full year 2010 is SEK 500 (600) m, equivalent to SEK 3.70 (4.40) per share. This reduction is due to the severe winter and fewer divestments than in the previous estimate.

Third quarter (July – September)

Net sales fell by 2 per cent to SEK 563 (576) m as a result of net property divestments.
Profit before tax was SEK 237 (145) m. Net profit after tax was SEK 180 (103) m, or SEK 1.30 (0.80) per share.

“The Swedish economy has performed well in absolute and relative terms against Europe and the rest of the world. This is a factor, which not least, is benefiting the Swedish property sector. Expectations of reduced unemployment and continued growth mean that demand for office and other commercial premises is expected to rise.

Profit for the period was predominantly stable, adjusted for the Hemsö deal with AP3 (the Swedish Third Pension Insurance Fund), which affected the previous year’s comparative figures. Indexation has affected our results, as have increased vacancies in six commercial properties. Measures are ongoing, and because most of these premises are in attractive locations, there is good potential to increase occupancy. Meanwhile, we have divested fully let properties, affecting average vacancy levels somewhat. Rental revenues reduced by 2 per cent in like-for-like terms. We have a positive view of the lettings market, and in our work in the year, have arranged new lettings equivalent to an annual rental value of SEK 53 m.

The past few months has seen surging interest in property investments, with the fact that properties with tenants on long agreements are an attractive investment being part of the background. Bad debt in the Swedish property sector has been low, while properties are an inflation-proof investment. This is contributing to a strong transaction market, with for example, pension assets active in several major property deals through the autumn. Kungsleden made property acquisitions totalling SEK 839 (169) m in the period.

There is also substantial interest in public properties. A significant share of the asset reallocation we have witnessed has been to public properties. We have also noted several new start-up companies that focus on public properties, which in the longer term, will probably be a value driver.

Our retirement homes business in Germany remains stable, as is the operation of our 50:50 joint venture with AP3, Hemsö. Our modular business, Nordic Modular, is noting increased interest with plentiful enquiries to its lettings business and some increase in its modular production order book.

Credit market conditions are continuing to ease gradually. We conducted another bond issue after the end of the period, this time of SEK 600 m. Bond loans are a natural component of our funding, and we intend to be a recurrent issuer on the market.

Establishing Hemsö as an independent company remains on track, and as of 1 October, this company completed the acquisition of a portfolio from Vasallen for SEK 1,150 m with a rental value of approximately SEK 125 m.

In the year, Kungsleden has primarily focused on transactions limiting the downside in its property portfolio, which meant fewer positive realised value changes than expected. Because there is reason to believe that property prices will gradually rise, Kungsleden has chosen not to sell so many properties at present to generate profits against acquisition cost. For this reason, Kungsleden is restating its estimate of profit for calculating dividends for 2010 to SEK 500 m, SEK 100 m lower than the previous estimate of SEK 600 m.”

Thomas Erséus
Chief Executive

]]>

Kungsleden issues five-year bond loan of SEK 600 m

Tue, 12 Oct 2010 11:15:00 +0100

Listed Swedish property company Kungsleden AB (publ) has issued an unsecured bond loan on the Swedish market. The loan has a value of SEK 600 m. The loan has variable interest and final maturity in 2015.

The bonds have a coupon of three-month STBOR plus 3.5%. Kungsleden will be applying for quotation of the bonds on the NASDAQ OMX Stockholm.

The principal will primarily be used for acquisitions and investments in Kungsleden’s existing portfolio.

Carnegie Investment Bank AB (publ) has been Kungsleden’s adviser on the issue.

]]>

Kungsleden—SEK 80 m property acquisition

Fri, 01 Oct 2010 13:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring a retail property in Hudiksvall, on the east coast of Sweden, for a purchase price of approximately SEK 80,5 m including transaction costs. The property yield is 8.5% and total rental value is about SEK 10 m.

The property has a leasable area of approx. 6,000 sq.m. of which 95% is retail space. This property, called Fyren, is a landmark shopping mall in central Hudiksvall. Its largest tenants are hobby store Clas Ohlson, sports retailer Intersport and clothing chain Kappahl.

Completion is on 1 October.

“This is a good retail property with stable tenants representing strong brands. A property with good and stable cash flows that we are acquiring for a healthy yield,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Average fixed interest term extended to 5.3 years

Thu, 30 Sep 2010 09:00:00 +0100

By buying back its banks’ rights to cancel interest swaps, listed Swedish property company Kungsleden AB (publ) has extended its average fixed interest term from 2.6 years to 5.3 years.

At the mid-point of the year, Kungsleden had a nominal amount of some SEK 7.3 bn of cancellable swaps, which through the repurchase of cancellation rights, were converted to standard interest swaps. After these repurchases, Kungsleden’s average interest expense increased by nine basis points to round 5.1%. Kungsleden’s interest rate maturity now consists exclusively of fixed interest, as illustrated by the following table.

"These repurchases increase Kungsleden’s financial freedom to act for a very reasonable cost. Meanwhile, we are continuing to evaluate complementary credit alternatives like bonds," commented Kungsleden’s Chief Financial Officer Johan Risberg.

As of 30 June 2010					New maturity
Maturity	Loan, SEK m	Interest derivatives	Share %	Ave. interest %	Interest derivatives
2010	14 139	7 350	47,8%	5,9%
2011			-	-
2012		400	2,8%	4,4%	400
2013		2 000	14,1%	4,2%	3 800
2014		1 500	10,6%	4,2%	2 100
2015		1 800	12,7%	4,3%	3 600
2016		400	2,8%	4,4%	1 000
2017		300	2,1%	4,5%	300
2018		1 000	7,1%	4,5%	3 550
Grand Total	14 139	14 750	100%	5,0%	14 750

Ave. interest after option redemption				5,1%

]]>

Kungsleden—new member of Nomination Committee

Wed, 22 Sep 2010 13:00:00 +0100

Peter van Berlekom has been appointed as a member of Kungsleden AB’s Nomination Committee. Mr. van Berlekom represents Nordea Investment Management, which as of 31 August 2010, is the company’s largest shareholder.

The other members of Kungsleden’s Nomination Committee are Frank Larsson, representing Handelsbanken Fonder (Chairman), Peter Gustafson, representing Olle Florén and companies, Eva Gottfridsdotter-Nilsson, representing Länsförsäkringar Fondförvaltning, and Chairman of the Board Per-Anders Ovin.

]]>

Kungsleden sells property for SEK 72 m

Wed, 22 Sep 2010 08:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling a commercial property for a purchase price of SEK 72 m. The property yield is around 7%. The sales price is approximately SEK 2 m above book value, and exceeds acquisition cost by about SEK 28 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2010.

The property is located in a trading estate close to the Bergvik outdoor retail centre, just west of Karlstad, central Sweden. Gross leasable area is 8,800 sq.m., the majority consisting of retail premises.

The buyer is a holding company from Norway, through Union Corporate AS. Completion on the property is scheduled for 1 October 2010.

“We’re continuing to work on enhancing our portfolio. I’m satisfied with this deal, which generates a healthy profit against acquisition cost,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden divests property

Thu, 16 Sep 2010 10:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling a commercial property to a joint venture held by the Municipality of Sigtuna and municipal housing corporation Sigtunahem. The purchase price amounts to SEK 52 m, with the acquirer taking over a project for SEK 4 m. The sales price is approximately SEK 5 m above book value, and about SEK 7 m below acquisition cost. This latter amount will be charged to Kungsleden’s profit for calculating dividends for 2010.

This property, Valsta Centrum, is about 40 km north of Stockholm. It consists of a single-story retail centre building, plus a car park, cellar storage and a former bowling alley. Gross leasable area is around 6,700 sq.m.

Completion on this property is scheduled for 1 November 2010.

“I view this as a good deal both for ourselves and the Municipality of Sigtuna, which has good prospects of developing the property,” commented Kungsleden’s chief executive, Thomas Erséus.

]]>

Kungsleden acquires properties for SEK 42 m

Tue, 07 Sep 2010 08:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring two properties in southern Sweden for a total purchase price of approximately SEK 42 m. Total rental value is just over SEK 5 m.

These properties have gross leasable area of about 7,000 sq.m., 67% of which is warehousing. The tenant, SELGA Elgrossist, is letting all the area of both properties.

The First property is in the Fosie industrial estate in Malmö, and the second in the Västra industrial estate in Växjö, both very popular industrial estates. The SELGA group is a nationwide electrical supplies wholesaler with warehousing at 38 sites.

Completion is scheduled for 15 September.

“These are warehousing properties generating healthy returns with a stable tenant, and thus a good fit with Kungsleden’s existing property portfolio,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden—SEK 135 m property acquisition

Tue, 31 Aug 2010 09:00:00 +0100

Through Hemsö, its joint venture with AP3 (the Swedish Third Pension Insurance Fund), Swedish listed property company Kungsleden AB (publ) is acquiring a property for a total investment of SEK 135 m.

This property, a retirement home located in Uppsala, near Stockholm, will be constructed by Riksbyggen, with Hemsö taking possession when building is complete. The home will have 80 places with leasable area of approximately 5,500 sq.m.

A rental agreement has been signed with Attendo Care, which runs for 15 years. Completion is scheduled for spring 2012.

“A newly built retirement home in Uppsala on a long rental agreement, and which satisfies our required returns, is a good fit in our property portfolio,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Interim Report 1 January - 30 June 2009

Wed, 18 Aug 2010 13:00:00 +0100

Net sales fell by 21 per cent to SEK 1,142 (1,439) m, and gross profit fell by 21 per cent to SEK 752 (954) m due to the previous year’s transaction with AP3 and increased costs relating to the severe winter.

Profit before tax was SEK 168 (164) m. Profit after tax was SEK 137 (237) m, equivalent to SEK 1.00 (1.70) per share.

As of 30 June 2010, the property portfolio comprised 559 (585) properties with a book value of SEK 21,866 (21,861) m.

10 (2) properties were acquired for SEK 799 (158) m. 39 (257) properties were also divested for SEK 906 (7,517) m, generating a profit of SEK 14 (–128) m. These divestments affected profit for calculating dividends by SEK 1 (891) m.

Profit for calculating dividends for the interim period was SEK 219 (858) m, equivalent to SEK 1.60 (6.30) per share.

The forecast for the full year 2010 profit for calculating dividends is unchanged at SEK 600 m, or SEK 4.40 per share.

Second quarter (April–June)

Net sales fell by 15 per cent to SEK 571 (668) m as a result of the transaction with AP3.
Profit before tax was SEK 132 (244) m. Net profit after tax was SEK 80 (304) m, or SEK 0.60 (2.20) per share.

“Kungsleden’s profits for the period remained stable in year-on-year terms, adjusted for a positive tax effect, and the transaction with the Swedish Third Pension Insurance Fund (AP3), both of which affected the previous year’s comparative figures. Even if as a result of the AP3 deal, net sales were down by some SEK 300 m for the period, gross profit fell by only SEK 200 m, despite the severe winter.

The recovery of the transaction market continued with surprisingly high volumes in the second quarter. This is a positive sign demonstrating that the market has probably bottomed out and is heading upwards. Conditions on the credit market have also improved. Increased willingness to invest is likely to pave the way for a price increase on properties in time. Year to date, Kungsleden has re-valued its properties by some SEK 100 m, the majority in the second quarter.

In the first half-year, Kungsleden sold 39 properties for just over SEK 900 m while acquiring 10 properties for nearly SEK 800 m. There were also investments in properties of SEK 145 m in the period. Hemsö was the largest transaction when four public properties, divided between 38 buildings, were acquired from Swedish property development company Vasallen for just over SEK 1.1 bn., of which Kungsleden’s share is 50 per cent. The property yield was some 7.5 per cent, and completion is on 1 October.

The lettings market has stabilised, even if we still expect vacancies a touch higher this year than last. But these vacancies are concentrated on a few individual properties where projects are ongoing to find solutions.

On 1 October Per Berggren takes over as the Chief Executive of Hemsö. Mr. Berggren is the Chief Executive of property company Jernhusen. He has extensive experience of the property sector and will be a driving-force in the ongoing work of creating two independent organisations before the mid-point of 2011.

After the severe winter, with increased operating costs, the forecast for the full year is more challenging. But we are reiterating our estimate of profit for calculating dividends of SEK 600 m, as we are noting positive progress on the transaction market.”

Thomas Erséus
Chief Executive

]]>

Kungsleden clarifies dividend policy

Wed, 18 Aug 2010 13:00:00 +0100

The Board of Directors of listed Swedish property company Kungsleden AB (publ) has reviewed and clarified Kungsleden’s dividend policy. As previously, Kungsleden's dividend policy implies dividends of 50 per cent of profit for calculating dividends. The Board of Directors’ ambition remains to maintain stable dividends with a high pay-out ratio. When judging the amount of dividends, consideration shall be given to the company’s investment need, capital structure and financial position otherwise.

“We want to clarify that when reaching decisions on dividends, the Board does, and always will, make an overall judgement of the company’s prospects and circumstances as part of a responsible long-term dividend policy,” commented Per-Anders Ovin, Chairman of Kungsleden.

]]>

Kungsleden in SEK 120 m property divestment

Fri, 02 Jul 2010 11:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling three commercial properties in two separate transactions for a total purchase price of approximately SEK 120 m and a property yield of some 5.6%. The total sales price exceeds book value by about SEK 6 m, and is around SEK 28 m below acquisition cost. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2010.

Gross leasable area amounts to about 15,000 sq.m. The properties are located in northern and central Sweden, one being in Skövde, one in Vara and the third in Umeå. Mainly, the properties consist of retail, office and warehouse premises.

Completion on the property in Umeå was on 1 July, and the planned completion for the other properties is 1 September.

“We are continuing to work on portfolio enhancement, and are selling these properties at a good yield,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden divests property for SEK 133 m

Thu, 24 Jun 2010 08:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling a commercial property for a purchase price of approximately SEK 133 m. The sales price exceeds book value by some SEK 8 m, and acquisition cost by about SEK 9 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2010.

The property is located in the Lexby industrial estate, around 2 km east of Partille, near Gothenburg, Sweden. Gross leasable area is about 15,000 sq. m., the majority being warehousing.

Scandinavian Property Group AB has acted as adviser in the transaction. Completion is scheduled for 1 July.

“We are seeing increased activity on the transaction market, now, a good opportunity has arisen and we have decided to sell” commented Thomas Erséus, Kungsleden’s Chief Executive, “

]]>

Kungsleden in SEK 1150 m property acquisition

Wed, 23 Jun 2010 09:00:00 +0100

Through Hemsö, its joint venture with AP3 (the Swedish Third Pension Insurance Fund), listed Swedish property company Kungsleden AB (publ) is acquiring four public properties spread over 38 buildings, for a total purchase price of approximately SEK 1150 m at a property yield of approximately 7.5%. Total rental value is some SEK 125 m.

This property holding has gross leasable area of 122,000 sq.m. The largest tenants consists of the Municipality of Gotland, the Östersund branch of the Swedish Social Insurance Administration, the Östersund police authority, the Municipality of Karlskrona and ICA Fastigheter Borås, who represent approximately 60% of the rental revenues. The average remaining contract term in the portfolio is nine years.

These properties were developed by Vasallen in 2003-2010, and can now be considered largely complete. The transaction’s scheduled completion date is 1 October 2010.

“Acquiring these well-developed properties from Vasallen, feels really positive,” commented Kungsleden’s Chief Executive Thomas Erséus, “with their long agreements and stable returns, this transaction will make a positive contribution to our portfolio composition and risk-adjusted returns.”

]]>

Kungsleden participating in ‘Summer Design Office Botkyrka 2010’ project

Tue, 22 Jun 2010 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) owns and manages the property Botvidsgymnasiet, which is in Botkyrka, southwest of Stockholm, Sweden. This property consists of approximately 46,000 sq.m. of office, educational and retail premises.

Kungsleden is participating in the ‘Summer Design Office Botkyrka 2010’ project in partnership with the Municipality of Botkyrka. This project is based on creating diversity from different operations and usages.

The project is being conducted by eight students mentored by experienced architects and designers. The students will be basing their work on the ‘vertical village’ concept, examining how the property can be developed into a vertical village—a building where homes on the top floor combine with other social functions like retailing and healthcare.

SVID (the Swedish Industrial Design Foundation) has been running the Summer Design Office concept since 2001, demonstrating the power of design methods to enable improvement and progress in diverse activities—in this case, building and architecture.

The project runs for seven weeks this summer, and is scheduled for completion in late August.

“I appreciate the Municipality of Botkyrka’s initiative and look forward to seeing the results of the students’ work,” commented Thomas Erséus, Kungsleden’s Chief Executive.

The students are:

Maryam Sepher, Architect, Iran
Natasha Azam, Designer, Pakistan
Emma Österman, Graphic designer, Sweden
Emelie Bergström, Landscape architect, Sweden
David Gillblom, Industrial designer, Sweden
Lars Snickert, Architect Sweden
Sebastian Schulz, Graphic designer, Germany
Ondrej Elfmark, Designer, Czech Republic

The project managers and mentors are:

Sofie Strasser, Product designer, Austria
Sven Staiger, Architect, Germany/Sweden
Måns Collner, Designer, Sweden
Anna Hrdlicka, Property accountant, Sweden/Austria

For more information, please contact:

Thomas Erséus, Chief Executive of Kungsleden | tel +46 (0)8 503 05204 | mobile +46 (0)70 378 2024

Ylva Sarby Westman, Business Development Manager, Commercial Properties, Kungsleden | tel +46 (0)8 503 05227 | mobile +46 (0)70 690 6597

]]>

Kungsleden—an update on tax rulings

Thu, 17 Jun 2010 09:00:00 +0100

Listed Swedish property company Kungsleden has now received rulings on the two remaining cases covered by the SEK 200 m the company previously stated in its Interim Report for January-March 2010. The tax claims resulting from these rulings amount to approximately SEK 60 m, which with the previously reported tax claims of some SEK 140 m, total about SEK 200 m.

Kungsleden will be appealing against the Administrative Court’s rulings at the Administrative Court of Appeal. Kungsleden regards these judicial decisions as erroneous, and the company’s definitive view remains that the company has complied with the laws and practice in place coincident with each tax return, a view shared by external experts on tax issues.

]]>

Change to Kungsleden’s Nomination Committee

Mon, 14 Jun 2010 13:00:00 +0100

Peter Gustafson has replaced Olle Florén as representative of Olle Florén and companies on Kungsleden’s Nomination Committee. The Nomination Committee now has the following members: Frank Larsson (Chairman), representing Handelsbanken Fonder (mutual funds), Eva Gottfridsdotter-Nilsson representing Länsförsäkringar Fondförvaltning (asset management), Peter Gustafson representing Olle Florén and companies, and Chairman of the Board Per-Anders Ovin.

]]>

Kungsleden - an update on tax rulings

Mon, 07 Jun 2010 11:00:00 +0100

The Administrative Court in Stockholm has issued rulings on nine cases where Kungsleden, as communicated back in 2009, appealed against the Swedish Tax Agency’s findings based on what is known as the Cyprus ruling.

The total tax claims ensuing from these rulings amounts to about SEK 140 m, and are covered by the SEK 200 m Kungsleden previously reported in its Interim Report for January-March 2010. Kungsleden will be appealing against the Administrative Court’s rulings in the Administrative Court of Appeal. Kungsleden regards these rulings as erroneous, and the company’s definitive view remains that the company has complied with the laws and practice in place coincident with each tax return, a view shared by external experts on tax issues.

]]>

Per Berggren appointed Chief Executive of Hemsö

Fri, 21 May 2010 10:10:00 +0100

On 1 April 2009, listed Swedish property company Kungsleden AB (publ) completed the sale of 50% of its ownership of its public properties to the Swedish Third Pension Insurance Fund (AP3). This portfolio has been gathered into Hemsö Fastighets AB and mainly consists of retirement home, care and school properties. Per Berggren has been appointed Chief Executive of this joint venture.

Mr. Bergren has been Chief Executive of property company Jernhusen AB since October 2005. He has thorough experience of the property sector, and has held senior executive positions with property companies including Wihlborgs, Fabege, Drott and Skanska Fastigheter. Mr. Bergren has worked on development issues and projects in many of Sweden’s municipalities. He has extensive experience of working with the public sector, and for companies in the public eye.

Mr. Bergren has an extensive contact network and is well known in the property sector. He will take up his position as Chief Executive of Hemsö Fastighets AB during autumn 2010.

“I am delighted that we have succeeded in attracting such a skilled and experienced person as Per. He is a highly regarded executive and leader, and has substantial knowledge of properties and business development. Now we’ve got another driver of value creation in Hemsö,” commented Kungsleden’s Chief Executive Thomas Erséus.

As of 31 December 2009, Hemsö’s portfolio consisted of 244 properties with a book value of approximately SEK 15,000 m and area of about 1,200,000 sq.m. Hemsö’s Chairman is Håkan Bryngelson. More information on this transaction is available at kungsleden.se.

]]>

Kungsleden makes SEK 74 m property acquisitions

Tue, 04 May 2010 10:15:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring three commercial properties for a total purchase price of approximately SEK 74 m including transaction costs.

These properties have gross leasable area of 11,040 sq.m., mainly consisting of warehouse and trade retail premises. The properties are located in Norrköping, Linköping and Jönköping, south west of Stockholm, locations with active and healthy trade and industry. Total rental value is just over SEK 7.7 m.

All properties are being 100% let to electrical supplies wholesaler Svenska Elgrossist AB SELGA.

Completion is scheduled for 31 May 2010.

“These properties have a good fit with Kungsleden’s existing portfolio in terms of their high and stable returns. Their locations have stable markets for industrial properties, featuring relatively low vacancies,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden issues five-year bond loan of approx. SEK 400 m

Thu, 29 Apr 2010 14:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) has issued an unsecured bond loan on the Norwegian market. The loan has a value of NOK 325 m, equivalent to about SEK 400 m. The loan has variable interest and final maturity in 2015.

The bonds have a coupon of three-month NIBOR plus 3.0% with currency hedges to eliminate any currency risks. Kungsleden will be applying for quotation of the bonds on the Oslo Stock Exchange.

Commenting, Thomas Erséus, Kungsleden’s Chief Executive, said: “the Norwegian bond market offers attractive funding opportunities. This bond strengthens Kungsleden’s capital base and complements our current bank funding. The bond loan extends our credit portfolio, while our financial flexibility increases.”

The principal will primarily be used for acquisitions and investments in Kungsleden’s existing portfolio.

First Securities has been Kungsleden’s adviser on the issue.

]]>

Annual General Meeting of Kungsleden

Thu, 29 Apr 2010 09:02:34 +0100

On Wednesday, listed Swedish property company Kungsleden AB (publ) held its Annual General Meeting (AGM). The Meeting approved the Board of Directors’ proposed dividends of SEK 3.75 per share. The record date was set at 3 May 2010, and dividends are scheduled to be sent from Euroclear Sweden AB on 6 May 2010.

In his address to the Meeting, Chief Executive Thomas Erséus reviewed the financial year 2009 and current market conditions. There was a video recording of the Chief Executive’s address, which will be available at Kungsleden’s website www.kungsleden.se from 29 April 2010 onwards.

The Meeting discharged the Board members and Chief Executive from liability for the financial year 2009. The following Board members were re-elected: Thomas Erséus, Per-Anders Ovin, Magnus Meyer, Jan Nygren, Jonas Nyrén, Charlotta Wikström and Leif Garph. Kia Orback Pettersson was elected as a Board member. Per-Anders Ovin was re-elected as Chairman of the Board.

The Meeting appointed Olle Florén (representing Olle Florén and companies), Frank Larsson, (representing Handelsbanken Fonder) and Eva Gottfridsdotter-Nilsson (representing Länsförsäkringar Fondförvaltning) as members of the Nomination Committee. In his position as Chairman of the Board, Per-Anders Ovin is Chairman of the Nomination Committee.

The Meeting approved the Board’s proposed guidelines for remuneration and other employment terms of senior management.

The Meeting also approved the Board’s proposal on authorisation for the Board to reach decisions on issuing convertibles.

The Meeting did not approve the proposal from shareholder Reckon Svenska AB to decide on the appointment of an independent examiner to investigate the circumstances surrounding the Board’s/individual Board member’s actions in competing activities.

At the subsequent Board meeting following election, the following members of the Remuneration Committee were appointed: Per-Anders Ovin, Jan Nygren and Charlotta Wikström and the following members of the Audit Committee were appointed: Leif Garph (Chairman), Magnus Meyer and Kia Orback Pettersson.

]]>

Profit as expected in a stable property market

Fri, 23 Apr 2010 11:30:00 +0100

• Net sales fell by 26 per cent to SEK 571 (771) m, and gross profit by 29 per cent to SEK 355 (501) m due to the previous year’s transaction with AP3 and increased costs relating to the severe winter.

• Profit before tax was SEK 36 (–79) m. Profit after tax was SEK 58 (–67) m, equivalent to SEK 0.40 (–0.50) per share.

• As of 31 March 2010, the property portfolio comprised 556 (585) properties with a book value of SEK 21,239 (21,861) m.

• No properties were acquired. 30 (6) properties were divested for SEK 602 (222) m, generating a profit of SEK 3 (11) m. These divestments affected profit for calculating dividends by SEK 28 (61) m.

• Profit for calculating dividends for the interim period was SEK 126 (223) m, equivalent to SEK 0.90 (1.60) per share.

• The forecast for the full year 2010 profit for calculating dividends remains at SEK 600 m, or SEK 4.40 per share.

“Our profits for the first quarter were consistent with our expectations and our estimate of profit for calculating dividends. The year-on-year profit change is mainly due to the Hemsö transaction with the Swedish Third Pension Insurance Fund (AP3 ), and increased costs, mainly for heating and property care, of approximately SEK 25 m, due to the severe winter.

Trading net for the quarter was SEK 3 m, after actions including the completion of our transaction with Corem Property Group. We also had a positive tax effect of just over SEK 30 m, after divesting properties without deducting for deferred tax. Administration costs continued to reduce in the quarter. The reduced net financial position was mainly a consequence of lower loan volumes after the sale to AP3. The book value of our portfolio was adjusted upwards by SEK 12 m in the quarter.

Vacancies rose slightly early in the year. Kungsleden has a somewhat late-cyclical operation, and in 2010, we do expect some increase in vacancies. Nordic Modular’s sales were lower than the previous year, while its gross profit was positive. After the adaptations to production completed in 2008–2009, production costs were down by over 40 per cent. The clear trend improvement on the transaction market sustained. According to Jones Lang Lasalle, transaction volumes were over SEK 18 bn in the first quarter. Kungsleden divested a total of about 30 properties for just over SEK 600 m. We are now observing that there are opportunities to do good deals once again. Notably, the market for public properties is attracting new players. It has become easier to secure short-term credit, which is contributing to a more upbeat market outlook, while however, long-term funding is still harder to arrange. It is important for Kungsleden to maintain optimal funding as far as possible, for the long and short term.

At the end of the first quarter, the Swedish Tax Agency initiated additional proceedings regarding property divestments conducted, although no regulatory decision has been reached. Back in 2009, we provisioned SEK 325 m relating to these tax proceedings. Our judgment is that the total liquidity effect of these tax proceedings will not exceed SEK 300 m assuming a potential negative outcome. Our view remains that we have complied with applicable laws and regulations.

Kungsleden was also recognised as one of Sweden’s best workplaces in the Great Place to Work survey, involving 80 companies. Kungsleden secured a top four place of the medium-sized companies, and was the best of the property companies. These results are very pleasing, because in recent years, Kungsleden has worked consciously to strengthen its internal corporate culture.

We will continue to work on arranging cost-efficient long-term funding, so we can exploit the attractive deal opportunities that we expect to arise. With stable counterparties, long contracts and continued goal-oriented work addressing our customers, we will be able to deal with expected modest increases in vacancies from low levels.”

Thomas Erséus

Chief Executive

]]>

Additional documentation for Kungsleden’s AGM available at the company’s website

Thu, 22 Apr 2010 15:00:00 +0100

The Board of Directors’ information on account of the proposal from shareholder Reckon Svenska AB to resolve on the appointment of an examiner (point 17 on the agenda of the AGM) is now available at the company’s website, www.kungsleden.

]]>

Kungsleden’s Annual Report 2009

Thu, 01 Apr 2010 08:30:00 +0100

The Annual Report from Kungsleden AB (publ) is available at www.kungsleden.se.

For more information, please contact:

Johan Risberg, Deputy Chief Executive Kungsleden | tel 08-503 052 06 | mobile 070-690 65 65

Cecilia Gannedahl, HR and Corporate Communication Director,

tel +46 8 503 052 15, mobile +46 (0)70 690 65

]]>

Kungsleden concludes divestment with Corem Property Group

Wed, 31 Mar 2010 16:00:00 +0100

On 22 December 2009, listed Swedish property company Kungsleden (publ) announced an agreement to sell 22 commercial properties for a total net purchase price of SEK 460 m after deducting for deferred tax and excluding transaction costs. This transaction was conditional on arranging funding. The transaction is now unconditional and can thus be concluded. The transaction will be reported in the financial statement for the first quarter 2010.

]]>

Kungsleden—the best property company to work for

Fri, 26 Mar 2010 08:00:00 +0100

Yesterday, listed Swedish property company Kungsleden AB (publ) was recognised as one of the best workplaces in the Great Place to Work survey. Kungsleden secured a top four place in the medium-sized companies category, and was rated first among property companies.

This, the eighth consecutive year of the survey, covered some 80 companies. The purpose of the Great Place to Work survey is to recognise and reward those organisations that work actively to create a positive culture in the workplace, and to inspire other companies that want to start this process.

In recent years, Kungsleden has taken a goal-oriented approach to its internal corporate culture. For the third consecutive year, Kungsleden can demonstrate a stronger organisation with healthier people and a positive working climate. Strong drive and enjoyment at work were special features. Nine out of ten employees describe Kungsleden as a good company to work for. The results of the 2009 Employee Satisfaction Survey via Synovate were an Employee Satisfaction Index of 71 per cent and leadership index of 70 per cent, against 59 and 57 per cent respectively for 2007.

“We keep taking the temperature of our corporate climate, but it feels good to compare with other companies,” said Kungsleden’s HR and Corporate Communications Manager Cecilia Gannedahl, “I’m delighted about this award and view it as evidence that our efforts are in the right direction. Enjoyment at work is central for motivation and results.”

]]>

Invitation to the AGM of Kungsleden AB (publ)

Wed, 24 Mar 2010 11:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is convening its AGM (Annual General Meeting) at 2 p.m. on Wednesday, 28 April 2010 at Hotel Rival, Mariatorget 3, Stockholm, Sweden. The Invitation states the matters for consideration at the AGM and:

- The Board of Directors’ proposed resolution authorising the Board to take decisions to issue convertibles.

- Proposal from shareholder Reckon Svenska AB on a resolution on the appointment of an independent examiner.

Regarding the election of the Board of Directors, the Nomination Committee has proposed the re-election of Thomas Erséus, Leif Garph, Magnus Meyer, Jan Nygren, Jonas Nyrén, Per-Anders Ovin and Charlotta Wikström. The Nomination Committee is proposing the election of Kia Orback Pettersson. The Nomination Committee is also proposing the election of Per-Anders Ovin as Chairman of the Board.

Kia Orback Pettersson has been a Partner and Project Manager of consulting firm Konceptverkstan since 2004. Her previous experience includes marketing director of Swedish daily newspaper Dagens Nyheter, Deputy Chief Executive of jewellery chain Guldfynd AB and Chief Executive of Stockholm retail mall Sturegallerian. Kia Orback Pettersson is Chairman of NAISvefa AB and a Board member of Jernhusen AB, Tengbomgruppen AB, Forsen Projekt AB, Hemtex AB and Ticket Travel AB. Kia Orback Pettersson holds a B.Sc. (Econ.)

Kungsleden AB (publ)

Per-Anders Ovin

Appendix: invitation to AGM

Kungsleden discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 24 March 2009 at 11:00 a

]]>

Kungsleden divests property for SEK 58 m

Wed, 24 Mar 2010 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling a site leasehold consisting of two buildings for a total purchase price of approximately SEK 58 m. The total sales price is about SEK 11 m above book value, and around SEK 4 m above acquisition cost. This latter amount will be included in Kungsleden’s profit for calculating dividends for 2010.

Gross leasable area is some 6,096 sq.m. The property, mainly let as offices, is located in Limhamn, Malmö.

The buyer of the property is Broman Fastigheter, a local family business. Completion is scheduled for 31 March 2010.

Commenting, Kungsleden’s Chief Executive Thomas Erséus said: “I view this as a good deal for us, and a property that suits this local buyer well.”

]]>

Kungsleden selling properties for SEK 36 m

Tue, 23 Feb 2010 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is divesting four commercial properties for a total purchase price of approximately SEK 36 m. The property yield is nearly 7%. The total sales price is about SEK 2 m below book value and around SEK 6 m above acquisition cost. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2010.

Gross leasable area is some 4,000 sq.m. Three of the properties are located in Värnamo and one is in Kristianstad, both towns in southern Sweden. The properties mainly consist of retail, industrial and warehouse premises.

The buyer of the Kristianstad property is Astral Holding AB and the buyer of the Värnamo properties is DaCapo AB. Completion on all properties is scheduled for 1 March 2010.

“We’re continuing to work actively on portfolio composition,” commented Kungsleden’s Chief Executive Thomas Erséus, “and this is a good opportunity to sell a few properties to local landlords.”

]]>

Robust profits, property yield continues to rise

Thu, 18 Feb 2010 13:00:00 +0100

• As a result of the transaction with AP3, net sales reduced by 15 per cent to SEK 2,602 (3,060) m and gross profit decreased by 8 per cent to SEK 1,817 (1,982) m.

• Profit before tax was SEK 351 (-1,185) m. Profit after tax was SEK 250 (-962) m, equivalent to SEK 1.80 (-7.00) per share.

• As of 31 December 2009, the property portfolio comprised 585 (603) properties with a book value of SEK 21,861 (28,576) m.

• In 2009, 18 (54) properties were acquired for SEK 1,307 (3,408) m; 32 (28) properties and half the ownership of 242 properties was also divested for a total of SEK 7,808 (1,313) m, generating a loss of SEK –135 (12) m. These divestments affected profit for calculating dividends by SEK 895 (268) m.

• Profit for calculating dividends for 2009 was SEK 1,022 (840) m, equivalent to SEK 7.50 (6.20) per share.

• The Board of Directors is proposing a dividend of SEK 3.75 (1.50) per share.

• The forecast for the full year 2010 profit for calculating dividends is SEK 600 m, or SEK 4.40 per share.

Fourth quarter (october-december)

• As a result of the transaction with AP3, net sales reduced by 25 per cent to SEK 588 (784) m.

• Profit before tax was SEK 41 (–1,462) m. Profit after tax was SEK -90 (-1,311) m, equivalent to SEK -0.70 (-9.60) per share.

“Now that we have put 2009 behind us, I can conclude that it was a good year for Kungsleden, especially given the uncertain starting-point. We’ve never had such a strong balance sheet with a high equity/assets ratio, and a property portfolio of better quality. Our dividend yield is 7 per cent, which means that it is basically back at year-2005 levels. In like-for-like terms, the progress of our underlying operation was very positive. Rental revenues are up 5 per cent, our operating net is up 9 per cent and administration costs are down by 20 per cent.

We were able to improve our earnings capacity gradually through the year, thanks to factors including the lettings markets where Kungsleden operates being stable. Both the commercial and public portfolios made solid progress, and we actually had reducing vacancies overall in the commercial holding. Nordic Modular posted its best profits ever, after the production adaptations completed early in the year. Kungsleden’s completed divestments support the valuation of the portfolio, as do the valuations conducted by external appraisers at year-end. Accordingly, I think that overall, our portfolio has shown itself to be just as resilient as we expected.

In the fourth quarter, Kungsleden completed the purchase of five commercial properties from Northern Logistic Properties for SEK 525 m. We also completed the acquisition of five properties, operated by AWO, one of Germany’s largest public retirement home operators. Just before Christmas, we signed an agreement with Corem Property Group on the divestment of 22 commercial properties for SEK 460 m. A number of other deals were completed in the fourth quarter, and this marked a clear increase in activity levels compared to earlier in the year.

Late in the year, we also observed the credit market starting to head in the right direction once again. Kungsleden arranged refinancing and drew down new credits. Accordingly, we are well equipped financially.

In the fourth quarter, revised tax regulations for partnerships and limited partnerships had a SEK -139 m negative effect, implying that profit after tax for the quarter was also negative.

Going into 2010, we may see a faint increase in vacancy levels, and somewhat lower earnings due to a negative consumer price index for the year’s rents. But with our very stable portfolio, I think these risks are fully manageable.

The proposed dividend for 2009 is SEK 3.75 (1.50) per share. The Board’s estimate of profit for calculating dividend for 2010 is SEK 600 m.”

Thomas Erséus

Chief Execut

]]>

Invitation to Q&A session on Kungsleden’s Financial Statement

Mon, 15 Feb 2010 13:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) presents its Financial Statement for 2009 at 9 a.m. on 19 February 2010, at Operaterrassen in Stockholm, Sweden. The presentation will be held in swedish. Coincident with this event, the company is inviting analysts and journalists to a telephone conference with Chief Executive Thomas Erséus and CFO Johan Risberg. The telephone conference starts at 10:30 a.m., and provides an opportunity to submit questions regarding the Financial Statement. No advance notification is necessary.

To participate in the telephone conference from Sweden, call + (0) 8 5052 0114. International participants can connect to the conference by making a local call to +44 (0) 20 7162 0177.

]]>

Kungsleden—new main sponsor of Fryshuset

Mon, 08 Feb 2010 08:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) has become the main sponsor of youth activity centre charity Fryshuset and will be donating SEK 2 m annually over three years to support youth work. These funds will be used to promote young people’s self-esteem, creativity and initiative, and to combat violence, racism, drug abuse and crime.

Fryshuset pursues the simple conviction that encouragement, trust, responsibility and knowledge build self-esteem and bring out people’s inner power. These values and attitudes are closely consistent with what Kungsleden represents. Kungsleden owns and manages properties in some 130 municipalities across Sweden. This operational diversity is also highly consistent with Fryshuset’s territory.

With over 400 staff, Fryshuset runs some 30 operations from premises in Stockholm, Gothenburg and Malmö, extending from sport and culture to projects addressing today’s social challenges. Apart from activities in Sweden’s major cities, Fryshuset also has operations around the country. It is now conducting a project aimed at disseminating its experience and knowledge of 25 years of work to everyone working with children and young people. Its goal is to visit 150 municipalities across Sweden, and for all the country’s young people to get access to activities run in the Fryshuset spirit. Kungsleden will be working on entrepreneurship projects in collaboration with Fryshuset.

“Contributing to an operation that supports young people and creates the prospects of the warm and creative society that we all want, and want to be part of, feels important,” commented Kungsleden’s Chief Executive Thomas Erséus, “Kungsleden is focused on opportunities and I’m looking forward to seeing what opportunities we can create for young people with Fryshuset over the coming years.”

The decision to support Fryshuset’s activities is the result of internal work Kungsleden conducted to find a suitable way to take active corporate social responsibility. In recent years, Kungsleden has increased its focus on the environmental and social sector significantly.

]]>

Kungsleden makes SEK 75 m property divestment

Wed, 20 Jan 2010 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling three commercial properties for a total purchase price of SEK 75m including transaction costs. The total sales price exceeds book value by approximately SEK 3m and acquisition cost by about SEK 14 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2010.

Gross leasable area is about 12,000 sq.m. These properties, largely consisting of office and industrial premises, are located in Solna, north of Stockholm, Huddinge, south of Stockholm and Karlskoga, in central Sweden.

The buyer of the Huddinge property is W-Invest Fastigheter AB and completion was on 16 December 2009. Completion on the Solna and Karlskoga properties is on 1 February 2010, with the buyers being Gelba Fastigheter AB and KPT Teknik AB respectively.

“We’re continuing to see a cautious improvement on the property and credit markets. Our focus is on creating high and stable returns in our property holding for the long term. In the prevailing market conditions, we’re trying to find good deal opportunities like these, which enhance our portfolio composition,” commented Kungsleden’s Chief Executive, Thomas Erséus.

]]>

Kia Orback Pettersson nominated as new Kungsleden Board member

Mon, 18 Jan 2010 09:00:00 +0100

The Nomination Committee has informed listed Swedish property company Kungsleden AB (publ) that it will be proposing the election of Kia Orback Pettersson as a Board member, and the re-election of the other Board members, namely Leif Garph, Magnus Meyer, Jan Nygren, Jonas Nyrén, Per-Anders Ovin, Charlotta Wikström and the company’s CEO Thomas Erséus at the company’s Annual General Meeting (AGM) on 28 April 2010. Additionally, the Nomination Committee will be proposing that Per-Anders Ovin is elected as Chairman of the Board.

Kia Orback Pettersson has been a partner and project manager of strategy consultants Konceptverkstan since 2004. her previous positions include Marketing Director of Swedish broadsheet Dagens Nyheter, COO of retail jewellers Guldfynd AB and CEO of Stockholm prime retail mall Sturegallerian. Kia Orback Pettersson is Chairman of the Board of NAISvefa AB and a Board member of Jernhusen AB, Tengbomgruppen AB, Forsen Projekt AB, Hemtex AB and Ticket Travel AB. Kia Orback Pettersson is an economics graduate.

The members of Kungsleden’s Nomination Committee are KG Lindvall, Chairman, representing Swedbank Robur fonder, Olle Florén, representing Olle Florén and companies, Martin Jonasson, representing the Swedish Second Pension Insurance Fund and Frank Larsson, representing Handelsbanken Fonder and Chairman of the Board Per-Anders Ovin.

The Nomination Committee’s complete proposals for resolution at the AGM 2010, additional information on the nominated Board members, and a report on the work of the Nomination Committee will be submitted by no later than at the publication of the notice convening the AGM.

]]>

Kungsleden—supporting Aktiefrämjandet

Fri, 15 Jan 2010 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) has taken a decision to support the ‘Young Personal Finance’ project run by Aktiefrämjandet, an independent Swedish foundation promoting share saving, with a SEK 4 m donation. The aim of the project is to provide Sweden’s senior high school students with better knowledge of personal finance and saving in shares and mutual funds.

The project’s communication staff will be running an educational programme for some 12,000 students nationwide for one academic year, while also publishing specialised educational material for home or more advanced study.

Kungsleden’s SEK 4 m donation, intended for use on the project over four years, will enable these activities to be scaled up and reach even more young people.

“Supporting the important work of the Young Personal Finance project feels natural,” commented Kungsleden’s Chief Executive Thomas Erséus, “providing the country’s young people with fundamental information on savings in shares and mutual funds is important, not only for individuals and society generally, but also for us as a listed company. Kungsleden has over 25,000 shareholders, many of them private individuals.”

Aktiefrämjandet’s Young Personal Finance project—editor’s notes

This schools information project educates Sweden’s senior high school students and teachers on the topics of personal finance and saving in shares and mutual funds. In the academic year 2008/2009, the project’s communications staff met over 12,000 students at schools around the country. Students on a range of programmes, and those with individualized programmes across the length and breadth of the country get an opportunity to find out more about personal finance free of charge. The project’s main financiers are the Swedish Shareholders' Association, the Swedish Investment Fund Association, the Swedish Securities Dealers Association, NasdaqOMX, Unga Aktiesparare (Sweden’s association for younger share savers) and Kungsleden. www.ungprivatekonomi

]]>

Kungsleden signs agreement to sell 22 properties for SEK 460 m

Tue, 22 Dec 2009 14:30:00 +0100

Listed Swedish property company Kungsleden AB (publ) has reached an agreement to sell 22 commercial properties for a total net purchase price of SEK 460 m after deducting for deferred tax and excluding transaction costs. The property yield amounts to approximately 7% and the estimated profit after tax is SEK 55 m.

The buyer of the property portfolio is Swedish-based Corem Property Group. The transaction is conditional on arranging funding and is scheduled for completion in the first quarter of 2010. The total net purchase price including transaction costs corresponds to book value and exceeds acquisition cost by approximately SEK 7 m. This latter amount will affect Kungsleden’s profit for calculating dividends for 2010.

This portfolio consists of 22 warehouse and office properties located in western and central Sweden with gross leasable area of about 81,300 sq.m.

Completion will be on 1 April 2010.

“I’m satisfied with the year and our ability to keep doing deals involving substantial amounts despite adverse market conditions. The divestment to Corem Property Group corroborates this, and I expect the deal to be completed,” commented Kungsleden’s Chief Executive Thomas Erséus.”

]]>

Kungsleden makes SEK 112 m property divestment

Wed, 16 Dec 2009 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling four commercial properties for a total purchase price of approximately SEK 112 m excluding transaction costs. The total sales price corresponds to book value and is about SEK 4 m below acquisition cost. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2009.

Gross leasable area is 14,713 sq.m. Two of the properties are in Linköping, and one is in Vimmerby (both south of Stockholm). The fourth is located outside Oslo, Norway.

Completion on the Linköping and Vimmerby properties is on 1 February 2010. Completion on the Oslo property is on 17 December 2009.

“We are continuing to work on our portfolio composition, and the divestment of this property outside Oslo means we have no property holdings left in Norway,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden divests properties for SEK 88 m

Tue, 24 Nov 2009 13:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling two commercial properties for a total purchase price of approximately SEK 88 m excluding transaction costs. The total sales price exceeds book value by about SEK 8 m and acquisition cost by around SEK 3 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2009.

Gross leasable area is 8,834 sq.m. One of the properties is located in Västerås, west of Stockholm, with the majority let to regional newspaper Vestmanlands Läns Tidning. The second property is in Viggbyholm industrial estate in Täby, north of Stockholm.

Completion on the Västerås property is on 30 November 2009, and for the property in Täby, on 1 December 2009.

“We think we’re seeing a cautious improvement on the property market, and a slight increase in interest in property transactions. For us, this means continuing to work on portfolio composition to increase our risk-adjusted returns for the long term,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Interim Report 1 January - 30 September 2009

Thu, 22 Oct 2009 13:00:00 +0100

- As a result of the transaction with AP3, net sales reduced by 11 per cent to SEK 2,015 (2,276) m and gross profit decreased by 6 per cent to SEK 1,398 (1,483) m.

- Profit before tax was SEK 309 (277) m. The profit after tax for the interim period was SEK 339 (350) m, equivalent to SEK 2.50 (2.60) per share.

- As of 30 September 2009, the property portfolio comprised 580 (603) properties with a book value of SEK 21,056 (28,576) m.

- In the interim period, 3 (46) properties were acquired for SEK 169 (3,057) m; 20 (15) properties and half the ownership of 242 properties was also divested for a total of SEK 7,538 (867) m, generating a loss of SEK –126 (50) m. These divestments affected profit for calculating dividends by SEK 878 (110) m.

- Profit for calculating dividends for the interim period was SEK 1,016 (535) m, equivalent to SEK 7.40 (3.90) per share.

- The forecast (unchanged) for the full year 2009 profit for calculating dividends is SEK 975 m, or SEK 7.10 per share.

Third quarter (July – September)

- As a result of the transaction with AP3, net sales reduced by 25 per cent to SEK 576 (765) m.

- Profit before tax was SEK 145 (–9) m. Profit after tax for the period was SEK 103 (78) m, equivalent to SEK 0.80 (0.60) per share.

“In the third quarter, Kungsleden achieved its best underlying operating net ever. In the period, we continued to work actively on customer relations, lettings and enhancing the holding, contributing to increased revenue in like-for-like terms. Meanwhile, we have continued to reduce administration and sales costs by 17 per cent to SEK 210 m year on year.

Vacancies measured as earnings capacity decreased quarter on quarter. Property yield in the income statement was 8.2 (7.3) per cent for the third quarter, and increased to 7.3 (7.1) per cent for the nine-month period. Underlying earnings were strong in all operations, including modular buildings and in Germany. Insolvencies remain low, while the lettings market has been relatively healthy.

The difficult conditions on the credit market persist. Although we have seen several positive signs from the financial system, they have not yet really transformed into better prospects for doing deals. In the third quarter, we made only a number of smaller divestments. After the end of the period, Kungsleden acquired five commercial properties with high and stable returns for SEK 525 m from NLP of Norway. The property company we own jointly with AP3 (the Swedish Third Pension Insurance Fund) also divested one public property for SEK 70 m.

The Board of Directors of the joint venture for public properties was appointed after the end of the quarter, and I’m pleased that we succeeded in attracting an experienced and skilled Board chaired by the former CEO of Vasakronan, Håkan Bryngelson.

Kungsleden is continuing to evaluate opportunities to further enhance its property portfolio. For the rest of the year, we see some scope to divest properties. We regard these deal opportunities as attractive, even if they may be done below acquisition cost, with the aim of optimising Kungsleden’s overall portfolio composition. We may also make further expenditure to modify our loan portfolio since our need for financial instruments has reduced. Against the above back¬ground, the Board of Directors’ estimate of profit for calculating dividends is SEK 975 m, which is unchanged from the previous estimate.”

Thomas Erséus

Chief Executive

]]>

Håkan Bryngelson appointed Chairman of joint venture owned by Kungsleden and AP3

Fri, 16 Oct 2009 08:30:00 +0100

In April 2009, listed Swedish property company Kungsleden AB (publ) concluded the sale of 50% of its ownership of Public Properties to AP3 (the Swedish Third Pension Insurance Fund). The Board of the joint venture is now in place, and Håkan Bryngelson has been appointed Chairman. Mr. Bryngelson has long-term experience of the Swedish property sector, most recently as CEO of property company Vasakronan. He is now an independent director, and Chairman of Almega and Almega Tjänsteföretagen, ISS Property Advisory Board, Tengbom and Deputy Chairman of the Confederation of Swedish Enterprise. Mr. Bryngelson is also a Board member of Volvo Aero, AMF Pension and car roadworthiness inspection agency Bilprovningen.

The other Board members are Kerstin Hessius, CEO of AP3, Claes de Neergaard, Chairman of AP3, David Mindus, CEO of Sagax, Bengt Hellström, Head of Alternative Investments at AP3, Thomas Erséus, Chief Executive of Kungsleden, Magnus Meyer, CEO of Tengbom and a Kungsleden Board member and Jonas Nyrén, CEO of Bonnier Holding and a Kungsleden Board member.

“I’m delighted that we’ve secured such a renowned Board with substantial property expertise and skills on finance matters. I’m especially pleased that Håkan Bryngelson is taking on Chairmanship and I’m convinced that we will be able to benefit from his great commitment and knowledge of property issues,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden in SEK 70 m divestment

Thu, 15 Oct 2009 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling a site leasehold in Stockholm held in its joint venture with AP3 (the Swedish Third Pension Insurance Fund) for a purchase price of SEK 70 m.

The sales price corresponds to book value and exceeds acquisition cost by some SEK 23 m. Of this latter amount, just over SEK 11 m will be posted to Kungsleden’s profit for calculating dividends for 2009.

The divested site leasehold is located on Södermalm in central Stockholm. There are 50 retirement home apartments operating in the property. There are also premises for home-help services, and three smaller retail units. The building has gross leasable area of 3,286 sq.m., of which 3,085 sq.m. is retirement homes. The rental value is approximately SEK 4.8 m.

Transfer of possession is scheduled for 1 February 2010.

]]>

Kungsleden acquires warehouse and logistics properties

Tue, 13 Oct 2009 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring five commercial properties for a purchase price of SEK 525 m before deducting for deferred tax. The seller is NLP (Northern Logistic Property ASA) of Norway.

Kungsleden sold the corresponding properties to NLP in July 2008 for a net purchase price of SEK 600 m, and in tandem with this deal, Kungsleden issued a promissory note at present worth SEK 386 m. In the current purchase, a low-yielding promissory note is being converted to properties with a significantly higher yield.

These properties consist of warehouse and logistics premises located in southern and central Sweden. The gross leasable area is some 109,000 sq.m and total rental value is over SEK 48 m. 50% of rental values are sourced from properties in Mjölby, with nationwide discount retailer ÖoB as tenant. The average remaining contract term of the properties is 8,5 years.

Kungsleden will take possession of the properties on 2 November 2009.

“These properties fit Kungsleden’s portfolio in terms of their high and stable yield,” commented Kungsleden’s Chief Executive Thomas Erséus, “they’re properties we know well, with good tenants. We sold them last year at a good price, and are now buying them back at a good price.”

]]>

Kungsleden makes SEK 46 m of property divestments

Mon, 05 Oct 2009 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling six commercial properties for a total purchase price of SEK 46.5 m to local landlords. The total sales price is SEK 1.5 m above book value and SEK 3.5 m above acquisition cost. This latter amount will be included in Kungsleden’s profit for calculating dividends for 2009.

Total gross leasable area is 10,129 sq.m. Three of the properties are located in Umeå, two are in Nordmaling, northern Sweden, and one is in Skärholmen, south of Stockholm.

Kungsleden transferred possession of the property in Skärholmen on 1 September 2009, the properties in Nordmaling on 30 September 2009 and the properties in Umeå, on 1 October 2009.

Kungsleden’s Chief Executive Thomas Erséus commented: “We’re working continuously on our portfolio composition to increase our risk-adjusted returns for the long term. I view these investments as good deals in this process.”

]]>

A new member of Kungsleden’s Nomination Committee

Mon, 31 Aug 2009 13:00:00 +0100

Frank Larsson has been appointed as a member of Kungsleden AB’s (publ) Nomination Committee. Mr. Larsson represents Handelsbanken Fonder, which is the company’s third largest shareholder as of 31 July 2009.

Kungsleden’s Nomination Committee now has the following members: KG Lindvall, representing Swedbank Robur fonder (Chairman), Olle Florén, representing Olle Florén and companies, Martin Jonasson, representing AP2, Frank Larsson, representing Handelsbanken Fonder and Chairman of the Board Per-Anders Ovin.

]]>

Change to Kungsleden’s Nomination Committee

Tue, 25 Aug 2009 13:00:00 +0100

As of today’s date, Martin Jonasson has replaced Carl Rosén as the representative of AP2 (the Swedish Second Pension Insurance Fund) on Kungsleden’s Nomination Committee. Kungsleden’s Nomination Committee now has the following members: KG Lindvall, representing Swedbank Robur fonder, Olle Florén, representing Olle Florén and companies, Martin Jonasson, representing AP2 and Chairman of the Board Per-Anders Ovin.

]]>

Interim Report 1 January - 30 June 2009

Wed, 19 Aug 2009 13:30:00 +0100

- Net sales reduced by 5 per cent to SEK 1,439 (1,511) m and gross profit increased to SEK 954 (952) m.

- Profit before tax was SEK 164 (286) m. The profit after tax for the interim period was SEK 237 (272) m, equivalent to SEK 1.70 (2.00) per share.

- Transaction with AP3 (the Swedish Third Pension Insurance Fund) completed, with half the ownership of 242 public properties transferred on 4 May.

- As of 30 June 2009, the property portfolio comprised 584 (603) properties with a book value of SEK 21,163 (28,576) m.

- In the interim period, 2 (36) properties were acquired for SEK 158 (2,667) m; 15 (3) properties and half the ownership of 242 properties was also divested for a total of SEK 7,517 (147) m, generating a loss of SEK –128 (31) m. These divestments affected profit for calculating dividends by SEK 891 (48) m.

- Profit for calculating dividends for the interim period was SEK 858 (322) m, equivalent to SEK 6.30 (2.40) per share.

- The Swedish Supreme Administrative Court’s tax rulings on certain property transactions have caused Kungsleden to provision SEK 325 m for potential amendments to previous tax returns.

- The forecast for the full year 2009 profit for calculating dividends is SEK 975 m, or SEK 7.10 per share.

Second quarter (April-June)

- As a result of the transaction with AP3, net sales reduced by 13 per cent to SEK 668 (764) m.

- Profit before tax was SEK 244 (173) m. Profit after tax for the period was SEK 304 (199) m, equivalent to SEK 2.20 (1.50) per share.

“Kungsleden’s operations made continued positive progress in the second quarter, with a rising operating net in like-for-like terms. All divisions performed well, and we had a property yield of 7.1 per cent with limited value changes in the holding.

There is still no significant improvement on the credit market, and we still think it is hard to secure funding on reasonable terms.

Competition on the Swedish credit market has reduced since many foreign players have left the market. This has resulted in tighter access to credit and rising prices, especially on maturities of 3-5 years. Hopefully, current healthy profitability will tempt new players into the credit market with increased competition, and eventually, better pricing. The current situation is a contributor to a continued tough transaction market, with far fewer and smaller transactions, and cool interest among foreign property players.

Public properties sustained their positive progress in Sweden and Germany. Commercial property lettings were positive, with an increased operating surplus margin. Vacancy levels in our commercial holding, measured in terms of earnings capacity, reduced from 7.6 to 7.2 per cent in the second quarter. Despite us downscaling production capacity in Nordic Modular, profit performance was positive. There are some signs that the market for modular production may have bottomed out in the quarter.

The underlying market is continuing to make fairly positive progress, although it may well be some time yet before the economic recovery becomes more enduring. Although the economic conditions look like improving, Kungs¬leden is active in a late-cyclical sector, and there is a risk that we still have not seen the peak in the number of business insolvencies. In current market conditions, Kungsleden is focusing on its existing portfolio. For example, we are working actively on tenant adaptations to retain and attract new tenants.

No news has emerged regarding the Swedish Supreme Administrative Court’s tax rulings, which we previously reported in several press releases. Kungsleden – which wasn’t actually party to any of these rulings – still thinks that tax for the year may increase by SEK 325 m as a result of them. The regulatory structure is complex, and calculations will be reassessed quarterly. The definitive outcome may be higher or lower than our current judgment.

Kungsleden completed its transaction with AP3 in the quarter, involving this Fund acquiring 50 per cent of the shares of the company that owns and manages the majority of the public properties in Sweden. This means that from 4 May, we will be reporting half of the company that owns and manages Kungsleden’s Public properties in Sweden according to the proportional method.

Kungsleden’s book value calculated per square metre is low compared to replacement cost, we have generally low rent levels, good geographical diversity in our holding and positive net lettings. Both our operating net and vacancy levels made positive progress in the quarter, and with lower administrative costs, overall, the conditions for stable profit performance should be in place, despite continued risk on the tenant side. The Board of Directors’ estimate of profit for calculating dividends is unchanged at SEK 975 m.”

Thomas Erséus

Chief Executive

Kungsleden discloses the information in this press release according to the Swedish Securities Markets Act

and/or the Swedish Financial Trading Act. The information was provided for public release on 19 August 2009

at 1:30 p

]]>

Invitation to Kungsleden’s Capital Markets Day on 1 September

Thu, 13 Aug 2009 15:00:00 +0100

Kungsleden AB (publ) invites asset managers, analysts and journalists to a Capital Markets Day on 1 September. The aims are to present the Group’s strategy in greater detail and to describe the public property business in a broader perspective.

Agenda

8:30 a.m. Registration

Coffee and sandwiches

8:45 a.m. Kungsleden — an overview

Business model, strategy and operation following Hemsö transaction

Thomas Erséus, CEO

Johan Risberg, CFO

Corporate responsibility — part of business operations

Maria Ljung, Environmental Manager

10:30 a.m. Pause

10:45 a.m. Public properties

Göran Linder, Divisional Manager, Public Properties, Kungsleden

Municipal finances

The state and the municipalities, finances in Sweden’s municipalities

Daniel Liljeberg, Political advisor at the Ministry of Finance

Developments in the property market

Trends, price scenario and transactions

Charlotte Strömberg — President, Jones Lang LaSalle

Municipal and county council operations — opportunities and challenges

Growing number of private initiatives under municipal auspices

Mats Kinnwall, new Chief Economist at the Swedish Association of Local Authorities and Regions (SKL)

12:30 p.m. Informal lunch and opportunity to pose questions to Kungsleden’s Group management

Most of the presentations will be made in English. If required, it is possible to only attend specific parts of the day. Notification of attendance shall be made to Sinikka Mukka, by e-mailing sinikka.mukka@kungsleden.se, by telephoning +46 (0)8-503 052 05 or faxing +46 (0)8-503 052 02.

RSVP: No later than 27 August.

For further information, please contact:

Cecilia Gannedahl, HR and Communication Director,

telephone +46 (0)8-503 052 15, +46 (0)70-690 65 80

Welcome!

This press release is available in Swedish at www.kungsleden.se

Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 31 March 2009, the property portfolio comprised 596 properties with a book value of SEK 28.6 bn. The holding was located in a total of 132 municipalities, although concentrated on the Swedish provinces of Götaland and Svealand, and the Öresund region. Kungsleden has been quoted on the OMX Nordic Exchange Stockholm since 19

]]>

Supreme Administrative Court tax rulings alter Kungsleden’s profit estimate

Mon, 06 Jul 2009 10:30:00 +0100

Against the background of the press releases of 2 and 3 June 2009 stating how Kungsleden could be affected by the Swedish Supreme Administrative Court’s tax rulings of 29 May 2009, the following information is provided.

To avoid misunderstanding, it is important to emphasise that Kungsleden is not a party in the cases resolved in the aforementioned rulings. However, after the tax rulings were announced, Kungsleden conducted an analysis of those transactions the company was involved in, and that resemble those that have been subject to trial in the aforementioned rulings. These transactions are small in number and were completed in the years 2004-2006.

Kungsleden applies International Financial Reporting Standards (IFRS) in its external financial reporting, with standard ‘IAS 12 Income Taxes’ formalising the reporting of income taxes. Current tax is the company’s judgment of those payments the company should make to settle its tax liability. The transactions that Kungsleden judges may be affected by the Supreme Administrative Court’s rulings have been analysed on an individual basis and separately from ongoing tax computations. Kungsleden’s best judgment is that current tax for 2009 may be charged with an amount of SEK 325 m due to the rulings. This amount will be reported as a tax cost in the Interim Report for January-June 2009, which will be published on 19 August 2009.

In addition to the above analysis, Kungsleden has received a decision from the Swedish Tax Agency regarding transactions conducted in a similar way to the one dealt with by what is termed the ‘Cyprus ruling’, which the Supreme Administrative Court remitted to the Council for Advance Tax Rulings for reassessment. The Tax Agency’s decision based on the ‘Cyprus ruling’ implies additional tax claims on Kungsleden of approximately SEK 200 m including tax surcharges. However, Kungsleden will not be provisioning for these tax claims in its interim financial statements, because it considers that the Tax Agency’s demand is erroneous.

The regulations are complex, and court interpretations of applicable sections of law have changed significantly over the years. Kungsleden’s judgment is that we have fully observed the laws and established practice in place at the time of these transactions, in the form of a number of advance rulings and rulings by the Administrative Court of Appeal, the Council for Advance Tax Rulings and the Supreme Administrative Court. And this view is shared by external experts.

Kungsleden’s computations will be reviewed at the end of each reporting period and adjusted so they reflect the company’s best estimate. Actual outcomes may be higher and lower than the current judgment.

The overall effect of the above circumstances mean that the Board of Directors’ estimate of Kungsleden’s profit for calculating dividends for the full year 2009 will be reduced by SEK 325 m, to amount to SEK 975 m.

Kungsleden discloses the information in this press release according to the Swedish Securities Markets Act and/or the SwedishFinancial Trading Act. The information was provided for public release on 6 July 2009 at 10:30 a

]]>

Kungsleden: SEK 83 m property divestments

Tue, 30 Jun 2009 13:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling seven commercial properties for a total purchase price of SEK 83 m. The sales price exceeds book value by over SEK 3 m, and is SEK 10.5 m less than acquisition cost. The divested properties have overall vacancies of some 20% in terms of rental value. The buyers are LW Fastigheter in Kalmar, southern Sweden and LW Industrifastigheter AB.

Total rental value is approximately SEK 10.3 m and gross leasable area is 12,616 sq.m. Four of the properties are located in Kalmar, two are on the island of Öland and one is in Nybro, west of Kalmar.

Possession is scheduled to transfer on 30 June 2009.

“I’m pleased that we have done this deal above book value despite high vacancy in the holding,” commented Kungsleden’s Chief Executive, Thomas Erséus.

]]>

Invitation to Kungsleden’s Capital Markets Day on 1 September

Wed, 17 Jun 2009 14:15:00 +0100

Kungsleden AB (publ) invites asset managers, analysts and journalists to a Capital Markets Day on 1 September. The aim is to present the Group’s operations and financial development, as well as to present the public property business in more detail.

An invitation with further information about the day including registration details will be distributed in August.

Welcome!

]]>

Comment on Supreme Administrative Court tax rulings available on Kungsleden’s website

Wed, 03 Jun 2009 19:30:00 +0100

Listed Swedish property company Kungsleden AB (publ) published its comment on how it views the potential effects of the Supreme Administrative Court’s tax rulings today.

The following questions and answers have been uploaded to Kungsleden’s website, www.kungsleden.se.

What has happened?

On 29 May 2009, the Swedish Supreme Administrative Court announced three advance rulings that appear to significantly change current case law from the Administrative Court of Appeal, the Council for Advance Tax Rulings and the Supreme Administrative Court.

How do the Supreme Administrative Court’s rulings affect Kungsleden?

The Supreme Administrative Court’s rulings cover a number of transactions, none of which relate to Kungsleden. However, Kungsleden has previously conducted transactions, which in some respects resemble those that have just been subject to scrutiny.

What are you doing as a result of the Supreme Administrative Court’s rulings?

We’re analysing the rulings now alongside external experts to clarify their potential impact on Kungsleden. As soon as our analysis is complete, we will be providing more information, although by no later than at the time of our quarterly report on 19 August 2009.

What could be the financial effects for Kungsleden?

We can’t comment on them until our analysis is complete. The rulings may affect a number of specific transactions completed in 2004-2006.

There’s been some talk about tax evasion, is this something Kungsleden has been involved in?

We have no intention other than to observe the laws that apply. We distance ourselves firmly from the notion of tax evasion. Kungsleden’s judgment is that we have been observing the laws and established practice in place at the time of these transactions, in the form of a number of advance rulings and rulings by the Administrative Court of Appeal, the Council for Advance Tax Rulings and the Supreme Administrative Court. And this view is shared by external experts.

When did this type of deal cease?

Clarity was created on 17 April 2008 through the introduction of a legal block preventing the type of transaction the Supreme Administrative Court has now considered. We think this clarity is a good thing.

What are you telling your shareholders and investors?

We think it’s regrettable that the authorities’ handling of this process has taken as long as several years. It’s a big source of uncertainty for shareholders, investors and other stakeholders. We will be providing information as soon as we have it.

]]>

Kungsleden’s comment on Supreme Administrative Court tax rulings

Tue, 02 Jun 2009 21:30:00 +0100

On 29 May, the Swedish Supreme Administrative Court announced three advance rulings that appear to significantly change current case law from the Administrative Court of Appeal, the Council for Advance Tax Rulings and the Supreme Administrative Court. Kungsleden was not party to any of the rulings, but is currently analyzing them with external experts, and their potential consequences for Kungsleden’s tax position.

]]>

Kungsleden divests property for SEK 30 m

Thu, 28 May 2009 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling one commercial property in Karlstad, west of Stockholm, for a purchase price of SEK 30 m. The sales price is consistent with acquisition cost.

The divested property has gross leasable area of 2,515 sq.m. The rental value amounts to approximately SEK 2.8 m.

Transfer of possession is planned for 1 July 2009.

“It feels really positive that we’re still selling properties at book value,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Per-Anders Ovin becomes Kungsleden’s Chairman

Tue, 26 May 2009 17:15:00 +0100

Today, the Board of Directors of listed Swedish property company Kungsleden AB (publ) has appointed Per-Anders Ovin as new Chairman of the company after Bengt Kjell. Mr. Ovin holds a B.Sc. (Econ.) from the Stockholm School of Economics and is a self-employed consultant in business and finance.

Per-Anders has been a member of Kungsleden’s Board since 2003. His other directorships include Chairman and partner of the real estate fund Mengus Stockholm AB, and board member of Catella Capital AB and EDX Ltd.

The Nomination Committee has been informed of the Board of Directors’ decision.

For more information, please contact:

Per-Anders Ovin, mobile +46 (0)70 508 9105

]]>

Bengt Kjell leaves Kungsleden’s Board

Thu, 21 May 2009 18:45:00 +0100

The Chairman of the Board of listed Swedish property company Kungsleden AB (publ) has taken the initiative to request to leave Kungsleden’s Board. Mr. Kjell has kept the Nomination Committee and other Board members informed of his plans to take on other commitments in the property sector, and accordingly, his intention to leave his position by the AGM 2010 at the latest. Mr. Kjell has now decided to bring forward his reported departure, and accordingly, is leaving his position as of 21 May 2009.

The Board has initiated a process to appoint a new Chairman internally as soon as possible.

]]>

Kungsleden invests in new senior high school

Fri, 15 May 2009 11:00:00 +0100

Within its jointly owned company Hemsö, listed Swedish property company Kungsleden AB (publ) is forming a joint venture with construction and civil engineering group Peab with the purpose of building a senior high school in Upplands Väsby, north of Stockholm. The total investment for the school is a maximum of SEK 400 m, with a minimum property yield of 7%.

The intended building has leasable area of 14,904 sq.m. The Municipality will be leasing the school on a 20-year rental agreement. The definitive rent will be determined based on the cost of the project.

The senior high school is scheduled for completion in July 2011. After completion, Hemsö is entitled to acquire Peab’s holding in the joint venture.

“I view a 20-year rental agreement with the Municipality as a very good investment,” commented Kungsleden’s Chief Executive Thomas Erséus, “and it also feels good to be able to contribute to a better schooling environment for senior high school students in Upplands Väsby.”

]]>

Interim Report 1 January – 31 March 2009

Fri, 24 Apr 2009 12:30:00 +0100

• Net sales increased by 3 per cent to SEK 771 (747) m and gross profit increased by 12 per cent to SEK 501 (447) m.

• Kungsleden posted a loss before tax of SEK –79 (113) m of which value changes were SEK –262 (–24) m. The interim period’s loss after tax was SEK –67 (73) m, equivalent to SEK –0.50 (0.50) per share.

• As of 31 March 2009, the property portfolio comprised 596 (603) properties with a book value of SEK 28,589 (28,576) m.

• In the interim period, 2 (16) properties were acquired for SEK 158 (1,337) m; 6 (1) properties were also divested for SEK 222 (10) m, generating a profit of SEK 11 (0) m. These divestments affected profit for calculating dividends by SEK 61 (–2) m.

• Profit for calculating dividends for the interim period was SEK 223 (126) m, equivalent to SEK 1.60 (0.90) per share.

• After the end of the interim period, the sale to Third Swedish National

Pension Fund (AP3) of 50 per cent of the shares of the company that owns most of Kungsleden’s public properties was finalised, after the terms of the transaction were met. This transaction affects Kungsleden’s profit for calculating dividend for 2009 by some SEK 800 m.

• The forecast for the full year 2009 profit for calculating dividends is SEK 1,300 m, or SEK 9.50 per share.

“The transaction market remained hesitant in the first quarter. Total transaction volumes fell by 75–80 per cent to SEK 4.5 bn against the corresponding quarter of 2007–2008, according to Newsec. Despite a harsh market, Kungsleden completed transactions worth nearly SEK 300 m, of which sales of residential and commercial properties represented the absolute majority.

The trend of rising gross profits continued in the quarter. Net sales increased by 3.2 per cent, rental revenues rose 11 per cent and gross profit was up by 12 per cent. This increase occurred despite reduced module sales.

Modular lettings remain stable, and because of progressive adaptation to market conditions last autumn, Nordic modular’s profitability is largely unchanged. The negative value changes on financial instruments are reducing Kungsleden’s profits but they do not affect cash flow.

Overall, our broad offering in commercial and public properties and modular buildings helped keep the group’s operating net stable in the quarter.

Kungsleden’s vacancy levels were stable in the quarter, although there are increasingly clear signs of the real economy starting to feed through into increased vacancies as a result of business insolvencies, which is affecting the whole lettings market. Net lettings are stable year to date, but risks have increased on the insolvency side, and we are monitoring progress closely, especially in commercial properties. While insolvencies affect operating net immediately, rental agreement cancellations are normally subject to nine months’ notice.

Our transaction with Third Swedish National Pension Fund (AP3) was finalized after the end of the period. This deal involves the AP3 acquiring 50 per cent of the shares of the company that owns and manages most of Kungsleden’s public properties in Sweden. Alongside the AP3, we can enhance and advance Kungsleden’s already-strong positioning on the market for public properties. Simultaneously, our financial position strengthens and we increase our prospects of exploiting business opportunities that may arise, in time, on the commercial and public property markets. From the second quarter onwards, Kungsleden will be reporting this joint venture using the proportional method.

Kungsleden expects the transaction market to remain hesitant for the rest of the year. Our forecast of profit for calculating dividend for 2009 is SEK 1.3 bn, including the profit for calculating dividends of SEK 800 m from the transaction with the AP3,” commented Kungsleden’s Chief Executive Thomas Erséus.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se

Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing portfolio, and through acquisitions and divestments. As of 31 March 2009, the property portfolio comprised 596 properties with a book value of SEK 28.6 bn. The holding was located in a total of 132 municipalities, although concentrated on the Swedish provinces of Götaland and Svealand, and the Öresund region. Kungsleden has been quoted on the OMX Nordic Exchange Stockholm since 19

]]>

Annual General Meeting of Kungsleden AB (publ)

Thu, 23 Apr 2009 08:30:00 +0100

Listed Swedish property company Kungsleden AB (publ) held its AGM (Annual General Meeting) on Wednesday. The Meeting approved the Board of Directors’ proposed dividend of SEK 1.50 per share. The record date was set at 27 April and dividends are scheduled for disbursement from Euroclear Sweden AB (formerly VPC AB) on 30 April.

In his address to the AGM, Chief Executive Thomas Erséus reviewed the financial year 2008 and current market conditions. The address was recorded on video, and will be available from Kungsleden’s website, www.kungsleden.se, from 23 April onwards.

Chairman of the Board Bengt Kjell opened the Meeting by reporting that the Board of Directors had decided to withdraw its proposals, partly on a granting decision regarding the performance-related staff stock option plan for 2008 (item 17) and the performance-related staff stock option plan for 2009 (the final year of the planned three years, item 18).

The background to this withdrawal includes the Swedish Government’s decision on new “guidelines for employment terms for senior executives of companies with government ownership”. The new guidelines affect the shareholders that Boards previously secured support from for their proposals. The Board of Directors wanted to avoid the AGM being forced into making resolutions subject to uncertainty regarding shareholders’ attitudes. The Board of Directors retains its view that performance-related and share-based plans are good for the company, and accordingly, it intends to return to this issue when shareholders’ attitudes are clear.

The AGM discharged the Board members and Chief Executive from liability for the financial year 2008. Thomas Erséus, Bengt Kjell, Magnus Meyer, Jan Nygren, Jonas Nyrén and Per-Anders Ovin were re-elected as Board members. Charlotta Wikström and Leif Garph were elected as Board members after Anna Weiner Jiffer and Jens Engwall declined re-election. Bengt Kjell was re-elected as Chairman of the Board.

The Meeting appointed Carl Rosén (Second AP Fund), KG Lindvall (Swedbank Robur Fonder) and Olle Florén (Olle Florén and companies) as members of the Nomination Committee. Bengt Kjell is a member of the Nomination Committee in his capacity as Chairman of the Board.

The Meeting adopted the Nomination Committee’s proposal for new instructions for the Nomination Committee’s activities.

The Meeting also adopted the Board of Directors’ proposal on guidelines for remuneration and other employment terms for senior executives.

At the Board meeting following election, Bengt Kjell, Jan Nygren and Charlotta Wikström were appointed members of the Remuneration Committee and Jonas Nyrén (Chairman), Per-Anders Ovin and Leif Garph were appointed as members of the Audit Committee.

]]>

Kungsleden completes divestment to Sweden’s Third AP Fund

Thu, 16 Apr 2009 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is completing its divestment of 50% of the shares of Hemsö to the Third AP (Pension Insurance) Fund. Hemsö owns and manages Kungsleden’s Public Properties in Sweden, mainly retirement home, care and school properties. This transaction was previously announced in a press release on 22 December 2008.

The transaction was conditional on the Swedish Competition Authority’s approval and retained financing, conditions that are now satisfied.

The sales price, which containes slightly fewer properties than previously, is based on a property value of SEK 14.6 bn, against the SEK 15.4 bn reported previously. The sales price exceeds historical cost by SEK 2.1 bn and corresponds to book value. The transaction will affect Kungsleden’s profit for calculating dividends for 2009 by approximately SEK 800 m, unchanged from the previous estimate.

The property holding is well diversified nationwide but concentrated on the major city regions. The transaction involves 239 properties with area of 1,191,000 sq.m., against the previously reported 277 properties with area of 1,326,000 sq.m. In terms of sales price, the property yield is 6.3% based on the operating net 2008, pro forma. Total rental value is about SEK 1.3 bn. From the Second-quarter Interim Report 2009 onwards, Kungsleden will report Hemsö according to the proportional method.

Change of ownership will occur on 4 May 2009.

Thomas Erséus, Kungsleden’s Chief Executive, commented: “with this deal, we can continue to develop and strengthen Hemsö’s already secure position as a partner and landlord on the public property market alongside the Third AP Fund. Simultaneously, Kungsleden will also be more able to exploit business opportunities that arise on the commercial and public property markets.”

]]>

Kungsleden’s Annual Report 2008

Fri, 03 Apr 2009 13:12:00 +0100

The Annual Report from Kungsleden AB (publ) is available at www.kungsleden.se.

Kungsleden discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial

Trading Act. The information was provided for public release on 3 April 2009 at 1 p.m.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.

]]>

Kungsleden divests properties for SEK 100 m

Fri, 27 Mar 2009 13:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is divesting two properties for a total purchase price of SEK 100 m excluding transaction costs. Gross leasable area is 6,422 sq.m. and total rental value is approximately SEK 8.1 m. The buyer is Norr-Bil Förvaltnings AB.

The sales price of these properties is consistent with book value and some SEK 28 m above historical cost. The latter amount will be posted to Kungsleden’s profit for calculating dividends for 2009.

The properties are located in Åkersberga, north of Stockholm, and consist of 5 residential blocks with 68 apartments for senior citizens and a care building with 24 retirement home apartments.

Kungsleden will transfer possession on 1 July 2009.

Thomas Erséus, Kungsleden’s Chief Executive, commented: “I’m satisfied with this divestment, which we have done at a sales price consistent with book value and above historical cost. The deal comprises several housing properties and investing in housing properties is not in line with the core business of Kungsleden,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Notice convening the AGM of Kungsleden AB (publ)

Wed, 18 Mar 2009 11:30:00 +0100

Listed Swedish property company Kungsleden AB (publ) is convening its AGM (Annual General Meeting) at 2 p.m. on Wednesday, 22 April at Hotel Rival, Mariatorget 3, Stockholm, Sweden. The Notice Convening the Meeting states the matters for consideration at the AGM and:

- The Board of Directors’ proposal to the AGM regarding a performance-related staff stock option plan.

- The Board of Directors’ proposal for a resolution approving the granting decision on the performance-related staff stock option plan for 2008.

- The Board of Directors’ proposal to the AGM for approval of the guidelines for remuneration and other employment terms for senior executives.

The Nomination Committee for electing the Board of Directors proposes re-election of Thomas Erséus, Bengt Kjell, Magnus Meyer, Jan Nygren, Jonas Nyrén and Per-Anders Ovin. Jens Engwall and Anna Weiner Jiffer have declined re-election, and the Nomination Committee is proposing the election of Charlotta Wikström and Leif Garph.

Charlotta Wikström has been HR Director of search services group Eniro AB since 2007. She was also Corporate Communications Manager of legal practice Mannheimer Swartling Advokatbyrå (2005-2007), Marketing Director of the Stockholm Stock Exchange (2000-2004) and previously held corresponding positions in telecom groups Com Hem AB and Telia AB. Charlotta Wikström holds a B.Sc. (Econ.).

In spring 2009, Leif Garph will take up a position as Chief Executive Officer of privately owned property developer and manager Sparbössan Fastigheter AB. He is chairman of SSSB, a public utility that owns and manages student residences in Stockholm and is a Board member of the SFI Swedish property index. Mr. Garph’s most recent employment was as Chief Operating Officer of Swedish property company Vasakronan AB (2002-2008) and he previously held a number of senior positions in property corporation Skandia Fastighet (1994-2002), including heading up Skandia Fastighet’s Nordic property investments. Leif Garph holds a B.Sc. (Eng.) specialising in property finance and is a building engineer.

Bengt Kjell

Kungsleden AB (publ)

Appendix: Notice Convening AGM

]]>

Kungsleden: SEK 111 m of divestments, SEK 74 m of acquisitions

Fri, 06 Mar 2009 13:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling two commercial properties in Lund and two commercial properties in Malmö, southern Sweden, for a total purchase price of SEK 111 m. At the same time, it is acquiring a warehouse property under construction in Mjölby, southern central Sweden, for SEK 74 m in a separate transaction.

The sales price is just above book value and exceeds historical cost by some SEK 28 m. This latter amount will be included in Kungsleden’s profit for calculating dividends for 2009. The divested properties have gross leasable area of approximately 12,500 sq.m. Rental value is about SEK 11.5 m.

The acquired property has leasable area of about 15,000 sq.m. Total rental value is SEK 7.5 m, equating to average rent of approximately SEK 500 per sq.m. Nationwide surplus retailer Överskottsbolaget is letting the property on a 12-year rental contract.

Kungsleden is scheduled to yield possession of the Lund and Malmö properties on 1 April 2009. It plans to take possession of the property in Mjölby on 1 October 2009.

“Getting the year of to a start with two good deals, with sales at prices above historical cost and book value, feels satisfying,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Leif Garph and Charlotta Wikström nominated as Board members of Kungsleden

Fri, 20 Feb 2009 09:00:00 +0100

The Election Committee has informed listed Swedish property company Kungsleden AB (publ) that it will be proposing Leif Garph and Charlotta Wikström for election as new Board members at the company’s Annual General Meeting (AGM) on 22 April 2009. They are to succeed Jens Engwall and Anna Weiner Jiffer, who have declined re-election. The Election Committee will be proposing the re-election of the other Board members, namely Bengt Kjell, Magnus Meyer, Jan Nygren, Jonas Nyrén, Per-Anders Ovin and the company’s Chief Executive Thomas Erséus. The Election Committee is also proposing re-election of Bengt Kjell as Chairman of the Board.

In spring 2009, Leif Garph will also take up a position as Chief Executive Officer of privately owned property developer and manager Sparbössan Fastigheter AB. He is chairman of SSSB, a public utility that owns and manages student residences in Stockholm and is a Board member of the SFI Swedish property index. Mr Garph’s most recent employment was as Chief Operating Officer of Swedish property company Vasakronan AB (2002-2008) and he previously held a number of senior positions in property corporation Skandia Fastighet (1994-2002), including heading up Skandia Fastighet’s Nordic property investments.

Charlotta Wikström has been HR Director of search services group Eniro AB since 2007. She was also Corporate Communications Manager of legal practice Mannheimer Swartling Advokatbyrå (2005-2007), Marketing Director of the Stockholm Stock Exchange (2000-2004) and held corresponding positions in telecom groups Com Hem AB and Telia AB. Charlotta Wikström holds a B.Sc. (Econ.).

Kungsleden’s Election Committee has the following members: Carl Rosén, Chairman, representing the Second AP (Pension Insurance) Fund, KG Lindvall representing Swedbank Robur fonder, Gunnar Balsvik representing Kåpan Pensioner Försäkringsförening, Olle Florén representing Olle Florén and companies, and Chairman of the Board Bengt Kjell.

The Election Committee’s complete proposals for resolution at the AGM 2009, more information on the candidates for Board membership and a statement of the Election Committee’s activities will be reported by no later than publication of the notice convening the AGM.

]]>

Financial Statement 2008: Adapting to the market and diversifying risk safeguards stable cash flows

Thu, 19 Feb 2009 13:45:00 +0100

• Net sales increased by 11 per cent to SEK 2,897 (2,612) m and gross profit increased by 15 per cent to SEK 1,967 m (1,705).

• Kungsleden posted a loss before tax of SEK –1,185 (2,621) m of which value changes were SEK –1,803 m (1,372). The net loss was SEK –962 (2,400) m in the year, equivalent to SEK –7.00 (17.60) per share.

• As of 31 December 2008, the property holding comprised 603 (575) properties with a book value of SEK 28,576 (25,737) m.

• In 2008, 54 (213) properties were acquired for SEK 3,408 (9,625) m; 28 (222) properties were also divested for SEK 1,313 (9,475) m, generating a profit of SEK 12 (580) m. These divestments affected profit for calculating dividends by SEK 268 (1,465) m.

• Profit for calculating dividends for 2008 was SEK 840 (2,019) m, equivalent to SEK 6.20 (14.80) per share.

• The Board of Directors is proposing a dividend of SEK 1.50 (8.00) per share.

• Kungsleden entered an agreement with Sweden’s Third AP (Pension Insurance) Fund regarding the sale of 50 per cent of the ownership of 282 public properties, corresponding to a value of SEK 15.4 bn. This transaction is consistent with book value, and expected to affect profit for calculating dividends by SEK 800 m for 2009. It is scheduled for completion in the first quarter of 2009.

Fourth quarter (October–December)

• Net sales increased by 6 per cent to SEK 722 (681) m.

• The loss before tax was SEK –1,462 (1,070) m. The net loss was SEK –1,311 (1,237) m, equivalent to SEK –9.60 (9.10) per share.

“Major turbulence characterised the financial markets last year, particularly in the latter half-year. The number of property transactions reduced, while the rental market was largely unaffected. For Kungsleden’s part, ongoing management progressed well, with net sales rising by 11 per cent and gross profit growing by 15 per cent. The year’s indexations, combined with continued low vacancies and stable cash flows, mean we perceive a fundamental security for management profits in 2009.

Value changes were SEK –1,803 m of which SEK –213 m in the property portfolio. Our internal valuation process is based on the cash flow each property generates. Rent levels, a property’s location and condition, and its potential for alternative usage, are also factored into our calculations. All property divestments last year were at levels above or around book value, which corroborates our valuations. The external valuations also support book value.

The value change of SEK –1,590 m on financial instruments is due to parts of our loan portfolio being hedged in the quarter. Late in the quarter, market interest rates dropped sharply, so negative value arose in our credit portfolio.

Adapting to the market and diversifying risk

We integrated our German operation into the Public Properties division in the year. The combination of turbulence on the financial markets and a perception of better opportunities in Sweden contributed to the closure of our Munich office, and Kungsleden exiting some projects. Our modular operations posted record profits, despite a sharp demand slowdown for work units in the second half-year. Measures have been taken to adapt production capacity. However, modular lettings to municipalities are still making positive progress.

In the year we acquired a total value of public properties of SEK 2.2 bn, from counterparties including the City of Västerås (west of Stockholm) and GE Real Estate. Progress in our public portfolio remains stable with development projects coming on stream in 2009–2010, and thus starting to contribute to our operating net. In the commercial portfolio, we continue to reflect our public portfolio, with long-term contracts and stable counterparties. Our average rental contract is now at six years in the commercial portfolio and seven years in the public portfolio. We have also been addressing customer care and customer satisfaction proactively.

Of sales and administration costs of SEK 375 m, Germany and Nordic Modular represent SEK 120 m. The high transaction volume in late 2007 and transactions in late 2008 also contributed to the cost increase. If transaction volumes contract in 2009, this would also contribute to administration costs reducing.

Late in the year, we signed an agreement to divest 50 per cent of the ownership of Public Properties to the Third AP Fund. This transaction creates a positive liquidity effect of SEK 2.3 bn for Kungsleden, and will increase profit for calculating dividends in 2009 by SEK 800 m. Our collaboration with the Third AP Fund strengthens our balance sheet and frees capacity for continued business development. The transaction is conditional on retained funding and approval from the competition authorities. Because this transaction has not been definitively completed, we intend to issue a forecast for year-2009 profit for calculating dividends at a later date. We still anticipate this transaction being completed in the first quarter.”

Thomas Erséus

Chief Executive

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden

]]>

Kungsleden concludes divestment with Riksbyggen, upgrades forecast

Tue, 23 Dec 2008 09:30:00 +0100

On 15 May 2006, listed Swedish property company Kungsleden AB (publ) announced the sale of part of the property designated Lund Klostergården in southern Sweden for SEK 100 m. This transaction was conditional on Kungsleden receiving detailed planning on the property. The property consists of some 30,000 sq.m. of housing development rights. The transaction is now unconditional and can thus be concluded.

The sales price exceeds acquisition value by about SEK 50 m. This amount will be included in Kungsleden’s profit for calculating dividends for 2008.

The transactions executed by Kungsleden in December has also resulted in Kungsleden increasing its forecast profit for calculating dividends for the financial year 2008 from the previous SEK 700 m to over SEK 800 m.

“It’s pleasing to now be able to conclude this deal with satisfactory profits and increase our forecast,” commented Kungsleden’s Chief Executive Thomas Erséus.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden makes property divestment of SEK 105 m

Tue, 23 Dec 2008 09:15:00 +0100

The sales price corresponds to book value and exceeds acquisition value by about SEK 40 m. This latter amount will be included in Kungsleden’s profit for calculating dividends for 2008.

The divested property has leasable area of some 8,300 sq.m., the majority let to a municipal senior high school. Total rental value is about SEK 9 m. The buyer is the Telge Fastigheter AB.

The acquired properties are an office property and a retirement home. The office property in Södertälje has leasable area of around 5,800 sq.m. and is let to the Municipality of Södertälje on a five-year contract. Total rental value amounts to about SEK 7 m. The Norrköping property has leasable area of some 5,400 sq.m. and will be let to the Municipality of Norrköping on a 20-year contract. Total rental value is some SEK 12 m.

The sales price corresponds to book value and exceeds acquisition value by some SEK 42 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2008.

Kungsleden is scheduled to relinquish and take possession of the properties in Södertälje on 15 January 2009. It is scheduled to take possession of the Norrköping property on 1 December 2009 after the lessee brings the retirement home into usage.

Kungsleden’s Chief Executive Thomas Erséus commented: “This is a good swap deal with the Municipality of Södertälje as the counterparty, while the Norrköping acquisition also has a healthy yield on long contracts.”

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells 50% of Public Properties to Tredje AP-fonden and forms a Joint Venture for continued development

Mon, 22 Dec 2008 08:30:00 +0100

The listed Swedish property company Kungsleden AB (publ) (“Kungsleden”) has signed an agreement with Tredje AP-fonden (“AP3”) to divest 50% of its ownership of Hemsö Fastighets AB (“Hemsö”) to AP3. Hemsö owns and manages Kungsleden’s public properties in Sweden, which are mainly retirement home, care and school properties. The holding is well diversified nationwide, although concentrated on the major regional cities. There are 277 properties involved, which as of 30 September 2008 had a book value of SEK 15.6 bn.

The sales price is based on a property value of SEK 15.4 bn, or approximately 98% of the proforma book value at the time of completion, which exceeds acquisition value excluding transaction costs by SEK 2.1 m. The average returns for Kungsleden on the holding in Hemsö since 2001 has been 25%.

In terms of sales price, the property yield is 6.3% based on pro forma operating net in 2008. Gross leasable area is 1,326,000 sq.m. and total rental value is some SEK 1.4 bn as of September 30, 2008.

Kungsleden has developed and accumulated a substantial holding of public properties since this portfolio was created in 2001. Public properties represented 54% of Kungsleden’s total book value as of 30 September 2008. This portfolio is well diversified in terms of customer segments, tenants and geographical diversity. Public properties feature stable tenants with long rental contracts.

Kungsleden is retaining its positive view of the potential of the Public Properties segment, and will together with AP3 continue to make an active contribution to Hemsö’s ongoing progress during at least five years. The operations of Hemsö will initially be safeguarded through a management agreement between Kungsleden and Hemsö. The transaction is conditional on Hemsö retaining its financing on satisfactory terms and on approval from the Swedish Competition Authority. The transaction is scheduled for definitive completion in the first quarter of 2009 and corroborates the quality of the substantial portfolio within Public Properties, while in AP3, Kungsleden gains a reputable partner.

In future, Kungsleden will be reporting Hemsö pursuant to proportional consolidation. The transaction implies that Kungsleden’s pro forma profits including tax effects for the first nine months of 2008 would be SEK 326 m, or SEK 2.40 per share, assuming that the transaction had been completed at the beginning of the year. As of 30 September 2008, the pro forma equity ratio is 36%, net debt is SEK 12.5 bn and shareholders’ equity per share is SEK 63.70.

Kungsleden considers that the current market conditions may offer attractive deal opportunities. To enhance its prospects of exploiting this potential, the transaction with AP3 will create a stronger base for Kungsleden’s other business while Kungsleden at the same time can derive more benefit from future deal opportunities in public properties. The coming years may offer attractive deal opportunities, and accordingly, a financially stronger Kungsleden would be able to act more quickly, and in a larger context. Kungsleden’s business model focuses on the continuous enhancement of the composition and quality of its property portfolio with the objective of improving risk-adjusted returns.

Commenting, Thomas Erséus, Kungsleden’s Chief Executive, said: “Kungsleden has been accumulating a substantial holding within Public Properties since 2001, a business we think has very good potential extending into the future. We’re delighted that AP3 shares our view of this sector, and through this deal, we’re creating good prospects of continuing to develop Hemsö alongside AP3 optimally, and further consolidate Hemsö as a capable partner and landlord for existing and future tenants. We’re convinced that through this transaction, we will continue to increase shareholder value for the future.”

Kungsleden and AP3 will be holding a joint press and analysts’ conference today, 22 December at 11:00 a.m. at Kungsleden’s head office, Medborgarplatsen 25, Stockholm, Sweden where Kungsleden’s Chief Executive Thomas Erséus, Kungsleden’s Deputy Chief Executive Johan Risberg and AP3’s Bengt Hellström will present the transaction. At 11:00 a.m. the presentation that will be shown at the press and analysts’ conference will be available at www.kungsleden.se.

SEB Enskilda have acted as lead financial advisor and Lundberg & Partners have acted as co-financial advisers to Kungsleden on this transaction. Mannheimer Swartling have acted as legal advisors.

Summary of financial effects:

Before transaction After transaction (pro forma)

1 January – 30 September 2008 1 January – 30 September 2008 1)

Profit after tax, SEK m 350 326

Profit after tax, per share 2.6 2.4

30 September 2008 30 September 2008 1)

Equity ratio, % 26.9 36.4

Loan-to-value, % 72.3 63.6

Net debt, SEK bn 20.0 12.5

Shareholders’ equity per share 60.8 63.7

1) The pro forma profit and balance sheet effects are calculated assuming the transaction is conducted on 31 December 2007

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells five properties for SEK 20 m

Thu, 18 Dec 2008 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling five commercial properties in Landskrona, southern Sweden, for a purchase price of some SEK 20 m. Total rental value is approximately SEK 4 m. The buyer is privately owned southern Swedish property company Svenska Hus i Skåne AB.

The sales prices is consistent with book value and exceeds acquisition value by some SEK 7 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2008.

Kungsleden will relinquish possession on 31 January 2009.

]]>

Kungsleden in property swap deal with Sagax

Wed, 17 Dec 2008 14:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is divesting one industrial property and two site leaseholds for a purchase price of SEK 204 m. It is simultaneously acquiring three warehouse and office properties for SEK 190 m. Both deals are with fellow listed Swedish property company AB Sagax (publ).

The divested properties are located in the Stockholm region, have gross leasable area of some 23,300 sq.m. and rental value of about some SEK 19 m. The acquired properties are located in Gothenburg and have gross leasable area of about 28,300 sq.m., 23% of which is offices and 77% is warehousing. The largest tenants are personal protection and workwear supplier Björnkläder, global logistics solution provider Swisslog and Sweden Post Logistics. Total rental value is approximately SEK 21 m.

The sale price exceeds book value by SEK 2.5 m and acquisition value by some SEK 60 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2008.

Transfer of possession is scheduled for 23 December 2008.

Commenting, Kungsleden’s Chief Executive Thomas Erséus said: “Swapping site leaseholds for properties with long rental contracts, while simultaneously being able to increase the property yield on our portfolio suits Kungsleden well.”

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden: two properties divested for SEK 34 m

Wed, 19 Nov 2008 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling two properties in Lidingö, outside Stockholm, and in Sollentuna, also outside Stockholm, for a total purchase price of SEK 34 m.

These properties have gross leasable area of 3,501 sq.m., consisting of office, manufacturing and school accommodation. Total rental value is SEK 4,184 m and total property yield is 6.1%.

The sales prices of the commercial and public property exceed book value and acquisition value. The total sales price of the properties exceeds book value by approximately SEK 5.6 m and acquisition value by around SEK 8.2 m. This latter amount is included in Kungsleden’s profit for calculating dividends for 2008.

Kungsleden will transfer possession of the property at Lidingö on 19 November 2008, and is scheduled to transfer possession of the property in Sollentuna on 1 December 2008.

“It feels good that at a time when the market is discussing property values, Kungsleden has been able to complete property deals with sales at prices above the acquisition cost and book value of each property,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Interim Report 1 January – 30 September 2008

Wed, 22 Oct 2008 15:00:00 +0100

• Net sales increased by 13 per cent to SEK 2,174 (1,931) m.

• Profit before tax was SEK 277 (1,551) m. Net profit was SEK 350 (1,162) m in the interim period, equivalent to SEK 2.60 (8.50) per share.

• As of 30 September 2008, the property holding comprises 608 (575) properties with a book value of SEK 28,513 (25,737) m.

• In the interim period, 46 (133) properties were acquired for SEK 3,057 (5,388) m; 15 (122) properties were also divested for SEK 867 (3,999) m, generating a profit of SEK 50 (148) m. These divestments affected profit for calculating dividends by SEK 110 (542) m.

• Profit for calculating dividends for the interim period was SEK 535 (1,049) m, equivalent to SEK 3.90 (7.70) per share.

• The new forecast for full-year profit for calculating dividends is SEK 700 (900) m, or SEK 5.10 (6.60) per share. The downgrade is due to a weak transaction market.

• After the end of the interim period, two properties were divested which will affect profit for calculating dividends by SEK 15 m.

• Operations in Germany have been restricted and are being integrated into the Public Properties division.

Third quarter (July-September)

• Net sales increased by 13 per cent to SEK 739 (655) m.

• The loss before tax was SEK –9 (322) m. Net profit was SEK 78 (301) m, equivalent to SEK 0.60 (2.20) per share.

“The dominant feature of the third quarter was the financial crisis, which unleashed substantial market turbulence and caused widespread uncertainty. The result is the pronounced impairment of credit market function, with a more cautious attitude and lower economic activity in general. Meanwhile, we have a continued stable rentals market and very healthy underlying earnings in Kungsleden’s property portfolio.

We have chosen to downgrade our forecast due to the continued challenging market climate and difficulties determining which deals that can be completed in the fourth quarter. We now expect profit for calculating dividends for the full year 2008 of SEK 700 m, against the previous forecast of SEK 900 m. The downgrade is due to a weak transaction market.

The new forecast is based exclusively on management profits through the year including transactions completed until the present.

Credit market turbulence has put company finance into focus. For Kungsleden, we have extended our average interest fixing period to 2.1 years. After the end of the quarter, we fixed the interest rate of SEK 5 bn of our short interest fixings at a rate of under 4 per cent, to apply for 2009. Those loans of SEK 1.9 bn that mature and are due for conversion in the remainder of 2008 and 2009 amount to less than 10 per cent of the total funding portfolio. We see good prospects for arranging this forthcoming re-financing, and if this does not prove to be the case, it lies within our un-utilised credits of SEK 2 bn.

We are continuing to enjoy very favourable underlying earnings, stable cash flows and healthy liquidity. Gross profit grew by 19 per cent year on year. We also have projects that are nearing completion and can contribute to higher earnings, as well as indexations that raise our property yield levels. Of course, we cannot rule out the possibility of vacancies increasing somewhat in the wake of a weaker business cycle, but we do not think the pressure on rent levels will increase notably, because generally, we already have low rent levels.

Factors affecting property values include rental levels, contract terms, property type and counterparties. Kungsleden has a property portfolio with long rental contracts, stable counterparties and low rent levels. Our public properties—retirement homes, schools and care properties—make up 59 per cent of our portfolio, including Germany. In commercial properties, we also have longer contract terms averaging 4-5 years. This provides security and support for property values. With long rental contracts and stable counterparties, the risk of terminations is limited. For Kungsleden’s part, the value decrease for the period is 0.5 per cent.

In retirement homes, at present we see more deal opportunities in Sweden than in Germany. Accordingly, we have decided to restrict and integrate the German operation into the Public Properties division, thus moving from four divisions to three. Simultaneously, we are cutting our costs by not completing selected projects and downsizing staffing in Germany. After the end of the period we also took measures to reduce staffing in module production. These measures will not affect our profits this year, and only marginally in 2009.

We are closely monitoring developments on the financial markets and have respect for their intrinsic forces, but with a solid base in public properties, long contracts and stable cash flows, we’re well-equipped even if credit market turmoil continues,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden makes SEK 85 m property divestment

Thu, 02 Oct 2008 11:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling four commercial properties for a total purchase price of SEK 85.3 m. Two of these properties are located in Umeå, northern Sweden, and two are in Örebro, west of Stockholm. Total lettable floor-space amounts to 9,461 sq.m., and total rental value is approximately SEK 9.3 m. The total property yield is 6.2%.

The sales price of these properties exceeds book value by SEK 14.3 m and acquisition value by SEK 14.7 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2008.

Kungsleden will transfer possession of the properties in Umeå on 17 November, and the properties in Örebro on 31 December.

]]>

Kungsleden acquires two public properties

Thu, 02 Oct 2008 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) has entered an agreement with construction and civil engineering corporation Peab AB (publ) to acquire two public properties for a total purchase price of SEK 134 m. These properties, currently under construction, are located in the Municipalities of Uppsala and Sigtuna, near Stockholm. The total rental value is SEK 10.7 m.

The properties consist of retirement homes and pre-school premises, and their tenants are the Municipalities of Uppsala and Sigtuna on 20-year contracts. Total lettable floor-space is 7,282 sq.m.

Kungsleden is scheduled to take possession in July 2009.

“It really feels positive to have another two public properties,” commented Thomas Erséus, Kungsleden’s Chief Executive, “and we’re delighted to be entrusted more, which advances our positioning. Their long rental agreements with municipalities will provide us with high and stable returns for many years ahead.”

]]>

New member of Kungsleden’s Election Committee

Wed, 24 Sep 2008 09:00:00 +0100

Pursuant to its instructions, the Election Committee of Swedish listed property company Kungsleden AB (publ) has decided to appoint Carl Rosén, representing the Second AP (National Pension) Fund as a member of the company’s Election Committee. This is subsequent to the Fund increasing its shareholdings in the company to 5.1% of the shares and equity, as stated in an announcement by the Fund on 16 September.

]]>

Kungsleden acquires eight properties for SEK 365 m

Fri, 22 Aug 2008 08:30:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring eight commercial properties located in six locations in central Sweden for a total purchase price of SEK 365 m including transaction costs. The seller is the Stampen group, Sweden’s largest newspaper owner. Several regional newspapers have their newsrooms located in the properties.

These properties have total lettable floor-space of some 52,000 sq.m., mainly consisting of offices (37 per cent) and production facilities (56 per cent). The biggest tenant is V-TAB, the largest printing group in the Nordic region, which provides some 60 per cent of total rental revenues. The average rental term of the portfolio is 6.5 years.

Kungsleden will take possession on 1 October.

“These properties suit Kungsleden’s existing property portfolio well in terms of their high and stable returns,” commented Kungsleden’s Chief Executive Thomas Erséus, “We assess their risk level as low because they are in attractive locations and are flexible for different usage.”

]]>

Interim Report 1 January – 30 June 2008

Tue, 19 Aug 2008 13:00:00 +0100

• Net sales increased by 12 per cent to SEK 1,435 (1,277) m.

• Profit before tax was SEK 286 (1,229) m. Net profit was SEK 272 (861) m in the interim period, equivalent to SEK 2.00 (6.30) per share.

• As of 30 June 2008, the property holding comprises 609 (575) properties with a book value of SEK 28,666 (25,737) m.

• In the interim period, 36 (40) properties were acquired for SEK 2,667 (3,110) m; 3 (20) properties were also divested for SEK 147 (1,852) m, generating a profit of SEK 31 (87) m. These divestments affected profit for calculating dividends by SEK 48 (137) m.

• Profit for calculating dividends for the interim period was SEK 322 (440) m. The forecast (unchanged) for full-year 2008 profit for calculating dividends is SEK 900 m, or SEK 6.60 per share.

• After the end of the interim period, seven properties were divested for SEK 704 m and will affect profit for calculating dividends by SEK 59 m.

Second quarter (April-June)

• Net sales increased by 10 per cent to SEK 721 (657) m.

• Profit before tax was SEK 173 (963) m. Net profit was SEK 199 (685) m, equivalent to SEK 1.50 (5.00) per share.

“The second quarter and summer featured generally more restrained sentiment and signs of a cyclical slowdown. Although credit markets are tougher, we have seen bright spots in the property market. Major deals included the acquisitions of Vasakronan and Steen & Ström of Norway, both by long-term investors. Around the mid-point of the year, Kungsleden divested office and warehouse premises totalling over SEK 800 m, at price levels exceeding both acquisition and book values.”

“The underlying rentals market remains positive. Our operating net increased by 17 per cent year on year, while vacancies declined somewhat. With a 58 per cent share of public properties, Kungsleden is in a strong position regardless of the business cycle development. Our strategy is to continue to focus on properties with long rental agreements and strong counterparts that provide us with stable cash flows. Our modular business also sustained its positive progress.”

“Interest costs were higher in the first half-year 2008 than the corresponding period of last year. Apart from higher market interest rates, this is due to Kungsleden being a net buyer of properties of slightly more than SEK 2.6 bn, and rationalizing our capital structure by redeeming some SEK 1.5 bn in late 2007. Despite somewhat higher market interest rates in the period, our average interest rate remained largely unchanged.

Despite conditions being more challenging, we are reiterating our forecast of profit for calculating dividends of SEK 900 m for 2008,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden presents second quarter report at Operaterassen

Fri, 15 Aug 2008 09:00:00 +0100

Chief Executive Thomas Erséus and CFO Johan Risberg at listed Swedish property company Kungsleden AB (publ), will present the second quarter report Wednesday, August 20 at 08.00 CET at Operaterrassen in Stockholm. The arrangement is executed in collaboration with financialhearings.com.

The presentation will be held in Swedish and can be followed via webcast at Kungsleden’s website: www.kungsleden.se.

At 09.30 CET, the presentation will be held in English and can be followed via telephone conference. The number to call from UK is: + 44 (0) 208 817 9301 and from Sweden: +46 (0) 850 520 270.

]]>

Lars Thagesson leaves Kungsleden

Tue, 22 Jul 2008 14:00:00 +0100

Lars Thagesson, Deputy Chief Executive at listed Swedish property company Kungsleden AB (publ), has decided to leave Kungsleden at the end of the year. Lars has been active in the company since 1993 and has held many different positions, most recently as Head of Strategy & Business Development.

”I’m happy to have had a chance to work with Lars and get to know him. Lars has had an important role for many years and been a driving force. I wish him good luck in the future,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Kungsleden divesting properties for SEK 600 m

Fri, 18 Jul 2008 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling five properties to Northern Logistic Property ASA (listed on the Oslo stock exchange). The sale is of five warehouse and logistics properties, with the largest tenants being discount retailing group Runsven AB and women's wear retailer Lindex AB. The properties are mainly located in central and southern Sweden.

Total lettable floor-space amounts to approximately 109,000 sq.m. Total rental value is nearly SEK 47 m.

The sales price of the properties is SEK 600 m, which exceeds book value by SEK 7 m and acquisition value by SEK 51 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2008.

Possession will change hands in the beginning of September 2008.

Kungsleden’s Chief Executive Thomas Erséus commented: “I’m satisfied with this deal and Northern Logistic Property is an obvious buyer for these properties. Over 50% of the rest of Kungsleden’s property portfolio are public properties like retirement homes, schools and care properties. Our commercial property portfolio has long-term contracts and stable counterparties, and only 10% of it consists of offices at present. This provides us with good cash flow and stability.”

]]>

Kungsleden selling properties for SEK 104 m

Wed, 09 Jul 2008 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling two office properties in Linköping, south of Stockholm, and one office property in Huddinge, near Stockholm, for a total purchase price of SEK 104 m. The sales price exceeds book value by approximately SEK 7.5 m and acquisition value by around SEK 8 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2008.

]]>

Kungsleden divesting property in Malmö

Mon, 30 Jun 2008 15:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is divesting an office and hotel property for a price of SEK 125 m. This property, designated Hamnen 22:2 is located at Malmö Central Station. The sales price is approximately SEK 18 m above book value and SEK 35 m above acquisition value. This latter amount will be included in Kungsleden’s profit for calculating dividends for 2008.

The property has lettable floor-space of 7,800 sq.m.

]]>

Kungsleden’s financial reporting dates in 2008 and 2009

Wed, 23 Apr 2008 11:15:00 +0100

Listed Swedish property company Kungsleden AB (publ) hereby announces its reporting dates for the remainder of 2008 and 2009.

Reporting dates in 2008:

Six-month Interim Report: 19 August 2009 (earlier 13 August)

Nine-month Interim Report: 22 October 2009

Reporting dates in 2009:

Financial Statement 2008: 19 February 2009

Three-month Interim Report: 24 April 2009

Six-month Interim Report: 19 August 2009

Nine-month Interim Report: 22 October 2009

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.

]]>

Interim Report 1 January – 31 March 2008

Wed, 23 Apr 2008 11:00:00 +0100

•Net sales increased by 15 per cent to SEK 714 (620) m.

•Profit before tax was SEK 113 (266) m. Net profit was SEK 73 (176) m in the interim period, equivalent to SEK 0.50 (1.30) per share.

•As of 31 March 2008, the property holding comprises 590 (575) properties with a book value of SEK 27,223 (25,737) m.

•In the interim period, 16 (16) properties were acquired for SEK 1,337 (925) m; 1 (9) property was also divested for SEK 10 (1,053) m,

generating a profit of SEK 0 (–34) m. These divestments changed profit for calculating dividends by SEK –2 (–125)m.

•Profit for calculating dividends for the interim period was SEK 126 (9) m. The forecast for full-year 2008 profit for calculating dividends is SEK 900 m (unchanged).

•Two properties were acquired after the end of the interim period for SEK 130 m.

“The start of the year was positive for Kungsleden. Despite credit market unrest, we succeeded in doing a series of good acquisitions. These included us signing a letter of intent with the City of Vasteras, west of Stockholm, for acquisitions of over SEK 1 billion. Most of the properties involved have 20-year rental agreements. We acquired public properties for almost another SEK 1 billion from GE Real Estate Nordic. We also signed a six-year rental agreement with the Swedish Social Insurance Office with a total rental value of SEK 54 m. The tenants in these acquisitions are municipalities, schools, central government bodies and other authorities, which ensures stable cash flows.”

“I’m satisfied with the acquisitions we did in the period, which are consistent with our endeavour to increase the share of long rental contracts with stable tenants, in our public and commercial portfolios. Simultaneously, this conscious re-allocation has also resulted in our operating surplus margin increasing during the last twelve months, making us less sensitive to cost variations.”

“Yield levels were stable in the period despite the differences between different types and some geographical regions, continuing to widen. Rent levels were also stable. With a property holding spanning over 130 municipalities right across Sweden, variations in rent levels in more economically active regions exert a more limited impact on our portfolio,” commented Kungsleden’s Chief Executive Thomas Erséus.

“Kungsleden’s tried and tested business model is a strength in times of market uncertainty. We will consistently pursue the strategy we have set, because we have good reason to believe that it will work regardless of market conditions. Looking ahead, we will maintain our focus on improving risk-adjusted returns. Meanwhile, we think that the current market conditions may provide attractive deal opportunities.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024 Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se

]]>

Kungsleden AB (publ)—Annual General Meeting

Thu, 17 Apr 2008 16:15:00 +0100

Kungsleden AB (publ) held its Annual General Meeting on Thursday. The Meeting approved the Board of Directors’ proposed dividends of SEK 8.00 per share. The record date was resolved as 22 April, with dividends scheduled for payment from VPC (the Swedish Central Securities Depository & Clearing Organization) on 25 April.

In his presentation to the Meeting, the Chief Executive Thomas Erséus, reviewed the financial year 2007 and current market conditions. A video recording of the Chief Executive’s statement was made, which will be available from Kungsleden’s website www.kungsleden.se from 18 April onwards.

The AGM discharged the Board members and Chief Executive from liability for the financial year 2007. Jens Engwall, Thomas Erséus, Bengt Kjell, Jan Nygren, Jonas Nyrén, Per-Anders Ovin and Anna Weiner Jiffer were re-elected to the Board. Magnus Meyer was elected as a Board member to succeed Mats Israelsson, who had declined re-election. Bengt Kjell was re-elected Chairman of the Board.

The Meeting appointed KG Lindvall, Gunnar Balsvik and Olle Florén as members of the Election Committee. In his capacity as Chairman of the Board, Bengt Kjell is a member of the Election Committee.

The Meeting approved the Board’s proposal on a performance-related staff stock option plan, and approved the proposed guidelines for remuneration and other employment terms of senior executives.

At the subsequent Board meeting following election, Bengt Kjell and Jan Nygren were appointed as members of the Remuneration Committee, and Jonas Nyrén, Per-Anders Ovin and Anna Weiner Jiffer were appointed as members of the Audit Committee.

at 4.15 p.m.

For more information, please contact:

Bengt Kjell, Kungsleden’s Chairman, tel: +46 (0)8 666 6441, mobile +46 (0)70 594 5398

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.

]]>

Kungsleden makes SEK 130 m of property acquisitions

Thu, 17 Apr 2008 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring two properties for a total purchase price of SEK 130 m including transaction costs.

One warehouse property is being acquired in Umeå, Northern Sweden, from DCAP Sverige AB. This property has total lettable floor-space of 11,785 sq.m., with Aditro Logistik renting approximately 80% of the premises. The weighted average contract term for the whole property is about 4.5 years. Rental values are over SEK 8.9 m, and the estimated initial property yield is approximately 8.5%.

Kungsleden is also acquiring a property in Bromma within the Stockholm city boundaries, from construction consortium NVB group (NCC-Veidekke-Besqab). This property is an independent school with lettable floor-space of 2,410 sq.m. The school building will be extensively renovated, and operate as the Raoul Wallenberg School.

The rental agreement has an eight-year term with a five-year extension option. Rental value is approximately SEK 3.6 m and the estimated property yield is 7.3%.

Kungsleden will take possession of the Umeå property on 22 April, and the school when the tenant takes up occupancy in August 2008.

“These properties will generate high and stable returns for many years ahead,” commented Kungsleden’s Chief Executive Thomas Erséus.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024 Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden makes SEK 136 m public property acquisition

Wed, 02 Apr 2008 10:00:00 +0100

Through three separate transactions, listed Swedish property company Kungsleden AB (publ) is acquiring three properties in Borås, Karlskrona, and Trelleborg, all in southern Sweden. The total investment cost is SEK 136 m and the estimated property yield is 7.2%.

The Borås property is mostly let to an independent school, with the Municipality the main tenant of the remainder. The Karlskrona property is operated as a retirement home let by the Municipality and Blekinge County Council. The Trelleborg property is let to the police.

These properties have total lettable floor-space of approximately 16,500 sq.m. Total rental value is SEK 14.2 m. The average contract term is 10.6 years.

Commenting, Kungsleden’s Chief Executive Thomas Erséus said: “It feels really good to have more public properties, which secure our positioning further. These contracts give us high and stable returns for many years ahead.”

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Göran Linder, Divisional Manager, Public Properties, tel +46 (0)8 503 05207, mobile +46 (0)70 690 6575

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.

]]>

Kungsleden’s Annual Report 2007

Mon, 31 Mar 2008 14:00:00 +0100

The Annual Report from Kungsleden AB (publ) is available at www.kungsleden.s

]]>

Kungsleden makes SEK 955 m public property acquisition

Fri, 28 Mar 2008 14:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring and taking possession of six public properties in Norrkoping and Nykoping near Stockholm from GE Real Estate Norden for a purchase price of SEK 955 m including transaction costs.

These properties have total lettable floor-space of approximately 89,300 sq.m., mainly consisting of offices and school premises. The biggest tenants are the Police Authority, the Swedish National Courts Administration, the Swedish Civil Aviation Administration, the Swedish Meteorological and Hydrological Institute, the Swedish Prison and Probation Service and Sodermanland County Council. Total rental value is just over SEK 94.6 m, and the estimated property yield is 6.8%. The average remaining duration of rental contracts is about six years.

“The tenants, mainly central government bodies and authorities, combined with these well-located, good properties make this portfolio very attractive,” commented Kungsleden’s Chief Executive Thomas Erséus.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Göran Linder, Divisional Manager, Public Properties, tel +46 (0)8 503 05207, mobile +46 (0)70 690 6

]]>

Convening the Annual General Meeting of Kungsleden AB (publ)

Thu, 13 Mar 2008 13:00:00 +0100

Kungsleden AB (publ) is convening its Annual General Meeting on Thursday 17 April 2008 at 2:00 p.m. at Hotel Rival, Mariatorget 3, Stockholm, Sweden. The Notice to Attend states the matters to be considered at the Annual General Meeting and:

• The Board of Directors’ proposal for approval of guidelines concerning remuneration and other employment terms for the executive management.

• The Board of Directors’ proposal for decision regarding a share option incentive programme (second year of three planned years).

Regarding the election of the Board of Directors, The Director Mats Israelsson has declined re-election. The Election Committee proposes that Jens Engwall, Thomas Erséus, Bengt Kjell, Jan Nygren, Jonas Nyrén, Per-Anders Ovin and Anna Weiner Jiffer is re-elected as members of the Board of Directors, and that Magnus Meyer is elected as a new member of the Board of Directors.

Magnus Meyer, who holds a Master of Engineering and Licentiate of Engineering, is CEO of Tengbomgruppen AB and a member of the Advisory Board of DTZ.

Bengt Kjell

Kungsleden AB (publ)

Enclosed: Notice convening the Annual General Meeting

For more information, please contact:

Bengt Kjell, Chairman of the Board, tel +46 (0)8 666 6441, mobile +46 (0)70 594 5398

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden

]]>

Kungsleden acquires three properties for SEK 180 m

Wed, 20 Feb 2008 13:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring three commercial properties in Mölndal, near Gothenburg, south-western Sweden, from Nordic seasonings producer Santa Maria AB for a purchase price of SEK 180 m including transaction costs.

These properties have total lettable floor-space of approximately 23,900 sq.m., mainly consisting of offices, warehousing and industrial premises. Santa Maria AB is the tenant in all premises through five to six-year agreements. Total rental value is just over SEK 13.1 m, and the estimated property yield is about 7.4%.

Kungsleden will take possession immediately.

“With their high and stable returns, these properties fit well into Kungsleden’s existing property portfolio. We assess their risk level as low because the properties have attractive locations and are flexible for different usage,” commented Kungsleden’s Chief Executive Thomas Erséus.

]]>

Magnus Meyer nominated as new Kungsleden Board member

Tue, 19 Feb 2008 14:00:00 +0100

The Election Committee of listed Swedish property company Kungsleden AB (publ) has reported that it will be proposing Magnus Meyer for election as a Board member at the AGM (Annual General Meeting) on 17 April 2008, to replace Mats Israelsson, who has declined re-election. The Election Committee will be proposing the re-election of other Board members, i.e. Bengt Kjell, Jens Engwall, Jan Nygren, Jonas Nyrén, Per-Anders Ovin, Anna Weiner Jiffer and Thomas Erséus. The Election Committee is also proposing the re-election of Bengt Kjell as Chairman of the Board.

Magnus Meyer (born in 1967), who has a B.Sc. (Eng.), has been Chief Executive of leading Swedish architecture practice Tengbomgruppen AB since 2005 and a member of global real estate adviser DTZ’s Advisory Board. In 2000-2005, Mr. Meyer was Head of Asset Management, and subsequently Head of New Business and Business Development at GE Real Estate.

Kungsleden’s Election Committee has the following members: KG Lindvall, Chairman, representing Swedbank Robur Fonder, Gunnar Balsvik, representing Kåpan Pensioner Försäkringsförening, Charlotta Wikström, representing Olle Florén and companies, as well as Chairman of the Board Bengt Kjell.

The Election Committee’s complete proposals for resolution at the AGM 2008, more information on the candidates for Board membership, and a review of the Election Committee’s activities will be submitted by no later than coincident with the publication of the notice convening the AGM.

For more information, please contact:

Bengt Kjell, Chairman of the Board, tel +46 (0)8 666 6441, mobile +46 (0)70 594 5398

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.

]]>

Financial Statement, 1 January – 31 December 2007: Healthy profits and long rental agreements

Tue, 19 Feb 2008 12:45:00 +0100

• Net sales increased by 11 per cent to SEK 2,612 (2,349) m.

• Profit before tax was SEK 2,621 (3,574) m. Net profit was SEK 2,400 (3,574) m, equivalent to SEK 17.60 (26.20) per share.

• As of 31 December, the property holding comprises 575 (591) properties with a book value of SEK 25,737 (23,106) m.

• In the year, 213 properties were acquired for SEK 9,625 m; 222 properties were divested for SEK 9,475 m, generating a profit of SEK 580 m. These divestments changed profit for calculating dividends by SEK 1,465 m.

• Profit for calculating dividends for 2007 was SEK 2,019 m.

• The Board is proposing dividends of SEK 8 per share (11).

• The forecast for the financial year 2008 is a profit for calculating dividends of SEK 900 m.

Fourth quarter (October-December)

• Net sales increased by 24 per cent to SEK 681 (548) m.

• Profit before tax was SEK 1,070 (1,676) m and net profit was SEK 1,237 (1,656) m, equivalent to SEK 9.10 (12.10) per share.

“Last year was another successful one for Kungsleden, with profits of SEK 2.4 bn and profit for calculating dividends of over SEK 2 bn. In 2007, we were also able to transfer SEK 22.50 per share to shareholders through dividends and redemption.”

“By acquiring properties with higher yields than the properties we divested, we were able to improve our earnings capacity further in the fourth quarter. Our major deals included the divestment of some 80 commercial properties for over SEK 4.7 bn to Norwegian asset manager Orkla Finans. I’m very satisfied with this deal, and the profit we achieved. I view it as more corroboration of how well our business model works, even in a more uncertain market.”

“In our commercial portfolio, we took a goal-oriented approach to extending the term of our rental agreements in the year, which now average 4-5 years. With longer rental agreements and financially secure tenants, as in our public property portfolio, we can ensure healthy cash flows and sustain stable returns.”

“Our forecast profit for calculating dividends for 2008 is SEK 900 m. After several years of very good profits from property trading, we expect management profits to represent the majority of our profit for calculating dividends in 2008. Continued portfolio enhancements last year further improved our prospects of delivering healthy management profits and stable cash flows for the long term,” commented Kungsleden’s Chief Executive Thomas Erséus.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Invitation to Q&A session on Kungsleden’s Financial Statement

Mon, 18 Feb 2008 15:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is publishing its Financial Statement for 2007 at 8 a.m. on 20 February 2008, at Operaterassen in Stockholm, Sweden. Coincident with this event, the company is inviting analysts and journalists to a telephone conference with Chief Executive Thomas Erséus and CFO Johan Risberg. The telephone conference starts at 9:30 a.m., and provides an opportunity to submit questions regarding the Financial Statement. No advance notification is necessary.

To participate in the telephone conference from Sweden, call +46 (0)8 505 20270. Participants from the UK can connect to the conference by making a local call to +44 (0)208 817 9301.

]]>

Kungsleden signs SEK 54 m rental contract

Wed, 06 Feb 2008 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) has signed a rental agreement with the Swedish National Social Insurance Office (the national social insurance centre) on approximately 6,000 sq.m. of premises, at Sollentuna near Stockholm. Total rental value is SEK 54 m. The agreement has a six-year term starting in October 2008.

“It feels very positive to be able to start the year with a letting of this scale. The Swedish National Social Insurance Office is a secure and stable tenant who we look forward to working alongside for the long term,” commented Kungsleden’s Chief Executive, Thomas Erséus.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Eskil Lindnér, Divisional Manager, Commercial Properties, tel +46 (0)40 17 44 02,

mobile +46 (0)70 817 5450

]]>

Kungsleden appoints Environmental Manager

Mon, 28 Jan 2008 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) has appointed Maria Ljung to the newly created position of Environmental Manager of the Kungsleden group. Maria joins Kungsleden from Stockholm Transport (SL), where she headed the environmental co-ordination of SL’s property holding.

The environment and sustainable development are increasingly central societal questions. By improving its environmental skills, Kungsleden can further enhance its property portfolio, and thus offer its tenants cost-efficient environmental solutions.

“The environment is top of the agenda, and Kungsleden wants to take on its responsibility for the environment,” commented Kungsleden’s Chief Executive Thomas Erséus, “We are happy to bring in a professional like Maria with her broad experience as an environmental consultant and environmental co-ordinator.”

Maria Ljung takes up her position on 1 February 2008.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Eskil Lindnér, Divisional Manager, Commercial Properties, tel +46 (0)40 17 44 02, mobile +46 (0)70-817 54 50

]]>

Kungsleden acquires over SEK 1 bn of public properties

Thu, 24 Jan 2008 15:15:00 +0100

Listed Swedish property company Kungsleden AB (publ) is signing a letter of intent with the City of Vasteras regarding the acquisition of 13 public properties. The acquisition price of these properties is SEK 1,050 m including transaction costs. Total rental value is SEK 87 m.

Nine of these properties are retirement homes and sheltered housing, with the City of Vasteras renting all properties over 20 years. The lettable floor-space is 16,708 sq.m., and possession is scheduled to change hands on 1 June 2008. For four of the properties, with lettable floor space of 46,686 sq.m., the main tenant is Malardalen University. Kungsleden is scheduled to take possession on 1 April 2008. Total lettable floor-space amounts to 63,394 sq.m.

These deals are subject to approval by the municipal council.

Kungsleden’s Chief Executive, Thomas Erséus, commented: “I view this as a good investment in an expansive region, where Kungsleden already owns retirement homes, schools and pre-schools. We’re delighted to expand our assignments, which advances our positioning in the municipality.”

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Göran Linder, Divisional Manager, Public Properties, tel +46 (0)8 503 05207, mobile +46 (0)70 690 6575

]]>

Change in the number of shares of Kungsleden AB (publ)

Fri, 28 Dec 2007 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) announced today that in December 2007, the total number of shares of the company decreased from 273,004,128 to 136,502,064. The cause of this decrease is the 2:1 share split resolved by an Extraordinary General Meeting on 19 November 2007, which was part of the company’s decision to conduct an automatic share redemption process. The number of shares is thereby restored to the same amount as before the redemption process started.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Kungsleden discloses the information in this press release according to the Swedish Securities Markets Act/and or the Swedish Financial Trading Act. The information was provided for public release on 28 December 2007 at 9:00 a.m. C

]]>

Kungsleden sells logistics property

Fri, 21 Dec 2007 10:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling a logistics property for a price of approximately SEK 152 m. This property is located in Taastrup, outside Copenhagen. The property yield estimated on the sales prices about 6%. The sales price is SEK 5 m above book value and acquisition value.

The property has lettable floor-space of 12,000 sq m, divided between warehousing and offices.

“This property in Denmark was part of a previous acquisition in June; our objective was to sell it on. I’m pleased this has now happened, and moreover, with a satisfactory profit,” commented Kungsleden’s Chief Executive Thomas Erséus.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden—property acquisitions for SEK 300 m

Thu, 20 Dec 2007 14:15:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring 14 properties for a purchase price of SEK 297 m.

Two commercial properties in Kungsbacka, near Gothenburg, are being acquired from infomedia group Elanders AB. Total lettable floor-space is about 36,000 sq.m., with 75% let to a printing firm, Kungsbacka Graphics AB. Total rental value is SEK 15.7 m and the estimated property yield is 8.3%. The average remaining contract term is around 5 years.

Kungsleden is also acquiring six commercial and six public properties in Linköping, south-west of Stockholm from municipal property corporation AB Stångåstaden. These properties have total lettable floor-space of approximately 18,200 sq.m., mainly consisting of office, retail and pre-school premises. The biggest tenants are the Municipality of Linköping, Östergötland County Council, food retailers ICA and Coop and legal practice Advokatfirman Delphi. Total rental value is just over SEK 18.6 m, with an estimated property yield of approximately 7.7%.

Kungsleden will take possession in February 2008.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden acquires and builds public properties

Wed, 19 Dec 2007 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring properties in Katrineholm, Mariestad, Nyköping (all south-west of Stockholm) and Ystad (southern Sweden) in three separate transactions. In addition, three pre-schools are being built for the Municipality of Linköping (south-west of Stockholm). They will be complete in summer 2008.

Total investment cost amounts to SEK 188 m, with an estimated property yield of 8.3%.

The properties have lettable floor-space of 23,370 sq.m. Total rental value amounts to SEK 24.3 m, of which 70% is sourced from the public sector. The average contract term is ten years.

“Having more public properties to consolidate our positioning feels very positive. This contract offers us high and stable returns for many years ahead,” commented Kungsleden’s Chief Executive Thomas Erséus.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Göran Linder, Divisional Manager, Public Properties, tel +46 (0)8 503 05207, mobile +46 (0)70 690 6575

]]>

Kungsleden acquires two retail properties

Tue, 18 Dec 2007 09:12:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring two retail properties for a purchase price of SEK 125 m. The sellers are Möbelhuset i Handen AB and Andersson-Gustavsson Fastighets AB, both owned by Sven-Eric Andersson.

The acquired properties are located in Haninge, south of Stockholm. The total lettable floor-space amounts to approximately 8,810 sq.m., 6,000 sq.m. of which is let to Möbelhuset i Handen AB (franchisee of furniture retailer Mio). Tenant adaptations will be made on parts of the smaller property in 2008 on behalf of BoConcept, also a furniture retailer, who will relocate to the store by 1 July 2009.

The rental value of both properties amounts to just over SEK 10.6 m and the estimated property yield is approximately 7.5%. Both Mio and BoConcept have recently signed 10-year rental agreements.

Kungsleden is scheduled to take possession on 10 January 2008.

Kungsleden’s Chief Executive Thomas Erséus commented: “This is a good example of commercial properties with long-term contracts that provide high and stable yields for many year

]]>

Kungsleden divests properties for SEK 600 m, upgrades forecast

Mon, 17 Dec 2007 13:45:00 +0100

Listed Swedish property company Kungsleden AB (publ) has signed an agreement with Diös & Kuylenstierna AB regarding the sale of 11 commercial properties in Malmo, southern Sweden, amounting to approximately SEK 600 m. The sale price exceeds book value by SEK 40 m, and acquisition value by SEK 180 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2007.

The portfolio has lettable floor-space of nearly 31,000 sq.m., primarily consisting of office premises in central Malmö. The rental value is about SEK 47 m.

Kungsleden is scheduled to relinquish possession on 1 July 2008.

With this deal, Kungsleden is also upgrading its forecast profit for calculating dividends for the financial year 2007 from SEK 1,800 m previously to SEK 2,000 m.

Commenting, Kungsleden’s Chief Executive, Thomas Erséus said: “Interest in these properties has been great and I am delighted to be able to complete this deal with very satisfactory profits.”

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden: SEK 98 m of property acquisitions

Mon, 17 Dec 2007 09:45:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring 2 properties from Swedish toy and baby product company Brio AB for a purchase price of SEK 98 m including transaction costs.

The acquired properties are located in Osby, southern Sweden. They have total lettable floor-space of approximately 36,000 sq.m., primarily consisting of warehouse premises. The properties will be fully let by Brio AB with a contract term of 10 years. Total rental value is just over SEK 11 m and the estimated property yield is about 9,5%.

Kungsleden takes possession February 1, 2007.

These are properties that fit well into our property portfolio with high and stable yields and long-term contracts, commented Kungsleden’s Chief Executive Thomas Erséus.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6

]]>

Kungsleden completes divestment to Orkla, upgrades forecast

Thu, 13 Dec 2007 08:50:00 +0100

Listed Swedish property company Kungsleden AB (publ) has completed the sale of 82 commercial properties in Sweden to asset manager Orkla Finans Kapitalförvaltning ASA in Norway and Norwegian investment bank DnB NOR Markets. This deal was previously reported in press releases and in the Third-quarter Interim Report 2007.

The transaction had been conditional on the buyer’s funding, which is now in place.

The sales price of the property portfolio, whose size has changed somewhat, is SEK 4,750 m, which is SEK 375 m above book value and SEK 710 m above acquisition value. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2007.

The properties are in diverse locations in Sweden. The lettable floor-space, comprising office, industrial and warehouse premises, is just over 751,000 sq.m with rental value of just over SEK 473 m.

Kungsleden will relinquish possession of the properties at the latest 15 January 2008.

With this deal, Kungsleden is also upgrading its forecast profit for calculating dividends for the financial year 2007 from SEK 1,400 m previously to SEK 1,800 m.

Commenting, Kungsleden’s Chief Executive, Thomas Erséus said: “I am delighted to be able to complete this deal with Orkla with very satisfactory profits. I still see attractive opportunities for high transaction levels in commercial properties, and expansion in care, school and retirement home properties.”

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden acquires 21 properties

Mon, 10 Dec 2007 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring 21 properties from Swedish engineering and power company Elajo Invest AB for a purchase price of SEK 175 m including transaction costs.

The acquired properties are located in central and southern Sweden. They have total lettable floor-space of approximately 31,000 sq.m., primarily consisting of office, warehouse and engineering premises. The properties are fully let with a contract term of 12 years. Total rental value is just over SEK 14 m and the estimated property yield is about 7.5%.

Kungsleden takes possession on 19 December 2007.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Lars Thagesson, Deputy Chief Executive, tel +46 (0)8 503 05230, mobile + 46 (0)70 592 9470

]]>

Change in the number of shares of Kungsleden AB (publ)

Fri, 30 Nov 2007 10:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) announced today that in November 2007, the total number of shares of the company increased from 136,502,064 to 273,004,128. The cause of this increase is the 2:1 share split resolved by an Extraordinary General Meeting on 19 November 2007, which is part of the company’s decision to conduct an automatic share redemption process. The number of shares will be restored after the redemption is completed.

More information on the redemption scheme is on the company’s Website: www.kungsleden.s

]]>

Kungsleden makes SEK 3.0 bn property acquisition

Tue, 27 Nov 2007 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring 20 properties from Northern European Properties Ltd. (listed on the London Stock Exchange) for a purchase price of nearly SEK 3 bn. The estimated property yield is approximately 7.2%.

This acquisition consists partly of freezer storage premises fully let to multinational food logistics provider Frigoscandia Distribution AB, and partly of industrial properties largely let to ABB Fastighets AB, the ABB group’s property arm. The acquired properties are mainly located in central and southern Sweden.

Total lettable floor-space amounts to about 445,000 sq.m. Total rental value is

SEK 242 m and the average remaining contract term is about 12.5 years.

Kungsleden is scheduled to take possession in early December 2007.

“The properties in this transaction fully satisfy our investment criteria. With long-term contracts with secure counterparties like ABB and Frigoscandia, we will enjoy secure cash flows and stable yields for a long time ahead,” commented Kungsleden’s Chief Executive Thomas Erséus.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se

]]>

Kungsleden: SEK 93 m of property acquisitions

Mon, 26 Nov 2007 14:00:00 +0100

Three of these properties are located in Tornby, an expanding trading estate in Linkoping, south-eastern Sweden. The purchase price of these properties amounts to SEK 52.5 m including transaction costs, with an estimated property yield of about 7.8%. The seller is TP Tornby Property AB. These properties have total lettable floor-space of about 8,400 sq.m., total rental value of approximately SEK 5.6 m and are fully let. The largest tenants are Storel, one of Sweden’s largest electrical wholesalers, IT consultant Rationell IT and YIT, one of the leading installation services providers in Sweden. Kungsleden takes possession of two of the properties on 29 November, and the third in the spring 2008.

The fourth property is a BYGGmax building supplies superstore under construction in Ullensaker just outside Oslo. The purchase price is about SEK 40.3 m including transaction costs, with an estimated property yield of 7.2%. BYGGmax Fastighets Holding AB is the seller. This property will have lettable floor-space of 2,777 sq.m. and rental value of about SEK 2.9 m. BYGGmax is renting the whole building on a ten-year contract, with possession scheduled to change hands on 15 January 2008.

“These office and warehouse premises in the expansive Tornby estate are fully consistent with Kungsleden’s strategy. We’re looking forward to our continued collaboration with BYGGmax as we follow them into Norway,” Thomas Erséus, Kungsleden’s Chief Executive, said in a comment.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.

]]>

Extraordinary General Meeting of Kungsleden AB (publ) approves redemption of approx. SEK 1,570 m

Mon, 19 Nov 2007 15:32:00 +0100

An Extraordinary General Meeting (EGM) today approved a transfer of SEK 1,569,773,736 to shareholders through an automatic redemption process consistent with the Board of Directors’ proposal.

This resolution implies each share being divided into two (2:1 share split) with a quotient value of about SEK 0.21 per share after the share split is completed, of which one share will be redeemed for SEK 11.50. A total of SEK 1,569,773,736 will be transferred to shareholders. Additionally, the resolution implies a bonus issue being conducted by transferring SEK 28,437,930 from non-restricted equity to share capital to complete the transfer in a straightforward, time-efficient manner.

Moreover, the EGM resolved on reducing the company’s statutory reserves by SEK 2,063,629,662 for allocation to non-restricted reserves. After this reduction is complete, the statutory reserve will be completely dissolved. This resolution is conditional on the relevant permission forthcoming from the Swedish Companies Registration Office, or in case of dispute, court findings.

Shareholders wishing to receive more information on the redemption process are welcome to telephone +46 (0)8 700 0010.

Schedule

- Each Kungsleden share will be divided into two (share split), of which one will be termed a redemption share in the Swedish Central Securities Depository & Clearing Organisation (VPC) system.

- The redemption share will then be redeemed automatically against a cash redemption payment of SEK 11.50.

- The redemption process is automatic; no action is required by shareholders.

- The record day for the share split and right to redemption shares is scheduled for 28 November 2007, provided that the Swedish Companies Registration Office has registered the EGM resolution on the share split prior to this.

- The final day of trading in Kungsleden shares cum rights to redemption shares will be 23 November 2007.

- Trading in redemption shares will be conducted between 29 November and 12 December 2007.

- The earliest payment date for the redemption is scheduled for 20 December 2007.

Information brochure and other documentation

An information brochure reviewing the proposal from the redemption resolved today has been distributed to all shareholders registered in their own name with a known address who are included in VPC’s share register on 1 November 2007 and to all nominee-registered shareholders with a known address who are registered with the relevant nominee on 29 October 2007, subject to the limitations ensuing from the information brochure.

The EGM’s complete resolution is available at the company’s offices at the following address: Kungsleden AB, Medborgarplatsen 25, Stockholm, Sweden, and on the group Website: www.kungsleden.se and will be mailed to shareholders that so request and provide a postal address.

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se

]]>

Kungsleden signs agreement with Orkla

Tue, 13 Nov 2007 10:00:00 +0100

Swedish listed property company Kungsleden AB (publ) has signed a purchase agreement with Orkla Finans Kapitalförvaltning ASA in Norway and DnB NOR Markets regarding the sale of commercial premises in Sweden, amounting to approximately SEK 5 billion. Kungsleden informed the market about the deal 27 September 2007. Following completion of due diligence, some changes have occurred in the structure of the property portfolio. The selling price exceeds the book value by SEK 400 m and the acquisition value by SEK 750 m.

The purchase agreement involves the sale of two sub-portfolios. Portfolio 1 comprises 30 properties with a lettable floor-space of 280,000 square meters at a value of SEK 1,650 m. The selling price exceeds the book value by SEK 160 m and the acquisition value by SEK 300 m.

Portfolio 2 comprises 55 properties with a lettable floor-space of 520,000 square meters at a value of SEK 3,350 M. The selling price exceeds the book value by SEK 240 m and the acquisition value by SEK 450 m.

The above sale of property portfolios is conditional upon the financing of each sub-portfolio until 12 December 2007.

“I regard this as a good transaction for Kungsleden and our assessment is that it will be completed,” comments Kungsleden’s CEO Thomas Erséus.

]]>

Kungsleden’s share redemption

Mon, 05 Nov 2007 09:39:12 +0100

A brochure regarding the redemption of shares of Kungsleden AB (publ) (”Kungsleden”) and the Board of Directors’ complete proposal to the Extraordinary General Meeting (EGM) on 19 November 2007 will be available from Kungsleden, Medborgarplatsen 25, 107 25 Stockholm, Sweden (tel. +46 (0)8 503 05200) and on Kungsleden’s Website, www.kungsleden.se, from 5 November 2007 onwards.

Distribution of the brochure will begin on or around 5 November 2007 to all shareholders whose address is known, subject to the limitations stated in this press release. The Board of Directors’ complete proposal will be sent to those shareholders that so request and state their postal address.

Proposed redemption process in brief

 Subject to a resolution by the EGM on 19 November 2007, each Kungsleden share will be split into two (share split), of which one will be termed a redemption share in the Swedish Central Securities Depository & Clearing Organisation (VPC) system.

 The redemption share will then be redeemed automatically against a cash redemption payment of SEK 11.50.

 The redemption process is automatic; no action is required by shareholders.

 The record day for the share split and right to redemption shares is scheduled for 28 November 2007, provided that the Swedish Companies Registration Office has registered the EGM resolution on the share split prior to this.

 The final day of trading in Kungsleden shares cum rights to redemption shares will be 23 November 2007.

 Trading in redemption shares will be conducted between 29 November and 12 December 2007.

 Disbursement of the redemption proceeds is scheduled for 20 December 2007 at the earlie

]]>

Upgraded forecast, stronger position in Germany

Wed, 24 Oct 2007 12:33:41 +0100

• Net sales increased by 7 per cent to SEK 1,931 (1,801) m.

• Profit before tax was SEK 1,551 (1,898) m. Profit for the interim period was SEK 1,162 (1,918) m, equivalent to SEK 8.50 (14.10) per share.

• In the interim period, 133 properties were acquired for SEK 5,388 m. Additionally, 122 properties were divested for SEK 3,999 m with profits of SEK 148 m. Divestments affected profit for calculating dividends by SEK 542 m.

• Profit for calculating dividends for the interim period amounted to SEK 1,049 m. For the financial year 2007, the forecast profit for calculating dividends is being upgraded to SEK 1,400 m from the previous SEK 1,200 m.

• A letter of intent has been signed with Orkla Finans regarding the sale of commercial properties for approximately SEK 5 bn. If the transaction is completed, Kungsleden estimates that the trading net from the deal would be about SEK 600 m, with profit for calculating dividends affected by about SEK 900 m. This deal is scheduled for completion in November, and would then be accounted in the fourth quarter.

• After the end of the interim period, seven properties in Germany were acquired for SEK 659 m. Additionally, the Board of Directors has convened an EGM to consider a proposed share redemption corresponding to a SEK 1,570 m payment to shareholders, or SEK 11.50 per share.

Third quarter (July-September)

• Net sales grew by 18 per cent to SEK 655 (556) m.

• Profit before tax amounted to SEK 322 (536) m; net profit was SEK 301 (392) m, equivalent to SEK 2.20 (2.90) per share.

“Kungsleden kept doing good deals in the third quarter, and I’m satisfied with our profits, which mean we can upgrade our forecast profit for calculating dividends for 2007. Recent credit turbulence has increased uncertainty on the property market, but simultaneously, may offer opportunities for attractive deals for a financially strong player like Kungsleden.”

“I’m particularly satisfied that after a number of deals in the autumn, we have succeeded in building a portfolio of contemporary retirement homes in Germany, which including projects in progress, is worth SEK 2 bn.”

“Within Public Properties, we basically acquired all the properties in the Municipality of Härnösand in northern Sweden where municipal operations are conducted, which I view as yet more corroboration of our quality. The share of public properties with stable counterparties and long-term contracts will become increasingly significant, thereby further enhancing the stability of our portfolio.”

“The market for modular properties remains robust, with good capacity utilisation in the production of modular properties for the foreseeable future. In addition, the acquisition of Hyrab further improves our growth prospects in this business area.”

“In conclusion, I’m also delighted that the results of our work will benefit our shareholders as early as this year through the proposed redemption programme at SEK 11.50 per share. After the redemption programme, we will still retain substantial scope for acquisitions of between SEK 10 and 20 bn,” commented Kungsleden’s Chief Executive Thomas Erséus.

For more information, please contact:

Thomas Erséus, Kungsleden’s Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

This information is mandatory for publication pursuant to the Swedish Securities and Clearing Operations Act.

Detta pressmeddelande och rapporten finns tillgängliga på svenska på www.kungsleden.se

]]>

Kungsleden invests in retirement homes in Germany

Thu, 18 Oct 2007 09:00:00 +0100

Swedish listed property company Kungsleden AB (publ) has signed a collaboration agreement with Merkur Development of Germany regarding the construction of five retirement homes in Germany. The total investment will amount to approximately SEK 519 m (EUR 57 m) including transaction costs, with the property yield estimated at 6.75 per cent.

The properties are managed by AWO, one of Germany’s biggest public sector operators, with approximately 700 retirement homes in Germany. The rental agreements with AWO are for 25-year terms with rental values of approximately SEK 35.3 m (EUR 3.9 m). Kungsleden is scheduled to take possession on 1 January 2009.

The properties’ lettable floor-space will be approximately 26,000 sq. m. Four are located near Frankfurt am Main and one is close to Stuttgart.

Thomas Erséus commented: “This is the first time that AWO is party to a transaction of this scale with a private player like Kungsleden, in itself making the deal unique. The properties fully satisfy our investment criteria and the long contract terms imply long-term and stable returns

]]>

Kungsleden proposes share redemption at SEK 11.50 per share

Wed, 17 Oct 2007 08:00:00 +0100

The Board of listed Swedish property company Kungsleden AB publ has resolved to convene an Extraordinary General Meeting on 19 November 2007 to consider a proposed redemption of shares by reducing share capital, with repayment to shareholders. The proposed share redemption would pay out a total of approximately SEK 1,570 m to shareholders, corresponding to SEK 11.50 per share. The Board proposal implies redemption being conducted in 2007.

Kungsleden’s CEO Thomas Erséus commented: “We’re working actively on our capital structure and are pleased that this can benefit shareholders. We’re convening the EGM a week before presenting our Interim Report because it means we will be able to complete the redemption process before year-end.”

Proposed redemption process in brief

- Subject to a resolution by the EGM on 19 November 2007, each Kungsleden share will be split into two (share split), of which one will be termed a redemption share in the Swedish Central Securities Depository & Clearing Organisation (VPC) system.

- The redemption share will then be redeemed automatically against a cash redemption payment of SEK 11.50.

- The redemption process is automatic; no action is required by shareholders.

- The record day[1] for the share split and right to redemption shares is scheduled for 28 November 2007, provided that the Swedish Companies Registration Office has registered the EGM resolution on the share split prior to this.

- The final day of trading in Kungsleden shares cum rights to redemption shares will be 23 November 2007.

- Trading in redemption shares will be conducted between 29 November and 12 December 2007.

- The payment date for the redemption is scheduled for 20 December 2007.

Reasons for the proposed share redemption

Alongside a strong cash flow, the strong profit returned by Kungsleden’s property management and property-trading operations in recent years have generated a very strong financial position for Kungsleden, despite a high dividend pay-out ratio.

Kungsleden’s Board and Management expect the property market will generally remain favourable with promising potential for deals despite recent capital market unrest. In addition, Kungsleden thinks this turbulence is likely to generate promising opportunities for deal-making in various markets for a player like Kungsleden.

Properties worth approximately SEK 4.0 bn have been divested and properties worth some SEK 5.4 bn have been acquired so far in 2007. In addition, a Letter of Intent has been signed with Norwegian asset manager Orkla Finans Kapitalförvaltning ASA regarding the sale of commercial property in Sweden worth a total of approximately SEK 5 bn. In combination with a healthy cash flow from property management, Kungsleden currently has scope for acquisitions well in excess of its assessment of the deals that may arise.

Kungsleden’s ambition is to endeavour continuously towards an optimal capital structure, to maximise returns to shareholders, considering risk. Against this background, the Board’s overall assessment is that there is scope to transfer capital to shareholders. Accordingly, the Board has proposed a share redemption totalling approximately SEK 1,570 m, or SEK 11.50 per share.

After the proposed redemption, the current scope for acquisitions is SEK 10 – 20 bn. If the divestment to Orkla Finans Kapitalförvaltning ASA is completed, this figure would be SEK 15 – 30 bn.

In order to complete the redemption process smoothly and efficiently, the Board proposes that the EGM resolve to restore SEK 28,437,930 of the company’s share capital through a bonus issue.

In addition, and to increase the company’s non-restricted equity, the Board proposes a SEK 2,063,629,662 reduction of the company’s statutory reserve through an allocation to non-restricted reserves. The statutory reserve would then be completely dissolved.

Information brochure and other documentation

An information brochure reviewing the proposed redemption in more detail will be distributed to all shareholders registered in their own name with a current valid address, with the limitations as a result of this press release, and who are included in VPC’s share register on 1 November 2007, and to all nominee-registered shareholders with a current valid address who are registered with the relevant nominee on 29 October 2007.

The Board’s complete proposal will be available at the company’s offices at the following address: Kungsleden AB, Medborgarplatsen 25, Stockholm, Sweden, and on the group Website: www.kungsleden.se from Monday 5 November 2007 at the latest and will be mailed to shareholders that so request and provide a postal address.

Appendices

Appendix 1: Convening the Extraordinary General Meeting on 19 November 2007.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se

Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 30 June 2007, the property portfolio comprised 606 properties with a book value of SEK 25.4 bn. The holding was located in a total of 128 municipalities, although concentrated on the Swedish provinces of Götaland and Svealand, and the Öresund region. Kungsleden has been quoted on the OMX Nordic Exchange Stockholm since 1999.

------------------------------------------------------------

[1] The day shareholders must be recorded in the share register maintained by V

]]>

Kungsleden acquires two retirement homes in Germany

Mon, 01 Oct 2007 09:00:00 +0100

Swedish listed property company Kungsleden AB (publ) is acquiring two retirement home properties in Bocholt, Germany, about 40 miles north of Dusseldorf, for nearly SEK 140 m (EUR 14.7 m) including transaction costs.

These properties, built in 2002 and 2004 have lettable floor-space of just over 6,300 sq.m. and accommodation for 150 residents. The rental value is nearly SEK 10 m (EUR 1.0 m), while the estimated property yield is 6.7%.

The retirement homes are operated by Azurit-Rohr GmbH, which has a nationwide retirement home operation in Germany. The rental agreements with Azurit-Rohr are for 20 and 22-year terms for the two properties.

“This acquisition is another step on the way for our retirement homes initiative in Germany,” commented Kungsleden’s Chief Executive Thomas Erséus, “the properties satisfy our investment criteria well, and the long-term agreements create high and stable returns for the long term.”

Kungsleden is scheduled to take possession on 19 Octob

]]>

Kungsleden negotiating divestment worth some SEK 5 bn

Thu, 27 Sep 2007 15:45:00 +0100

Kungsleden AB (publ), the listed Swedish property company, has signed a letter of intent with Norwegian asset manager Orkla Finans Kapitalförvaltning ASA regarding the divestment of commercial properties in Sweden with a value of approximately SEK 5 bn. If this divestment is completed, the estimated capital gain is about SEK 600 m, and the profit for calculating dividends around SEK 900 m. The letter of intent grants Orkla Finans Kapitalförvaltning ASA exclusivity to conduct due diligence on the property holding. A binding agreement would be scheduled for signing during November.

“Deals of this size involve a lot of people, which is why we also want to keep the market informed,” commented Kungsleden’s Chief Executive Thomas Erséus, “we’ve got good experience of previous transactions with Orkla Finans Kapitalförvaltning ASA, and we think this deal is very likely to go through.”

]]>

Kungsleden acquires logistics properties for SEK 545 m

Tue, 25 Sep 2007 14:00:00 +0100

Swedish listed property company Kungsleden AB (publ) is acquiring four properties for a purchase price of SEK 545 m excluding transaction costs, at an estimated property yield of 7,0%. The vendor is limited company Bockasjö AB, 50:50 owned by Joakim Hedin and Paul Frankenius.

The acquired properties are located in Borås, south-western Sweden. The properties have total lettable floor-space of approximately 107,000 sq.m., the majority being warehouse and logistics premises, with total rental value of just over SEK 49 m. The properties are fully let.

Kungsleden will take possession on 1 October 2007.

]]>

Kungsleden: SEK 913 m public property acquisition

Tue, 18 Sep 2007 09:00:00 +0100

Swedish listed property company Kungsleden AB (publ) is acquiring 43 properties from the Municipality of Harnosand in northern Sweden. Kungsleden is acquiring basically all the properties were the Municipality conducts its activities such as retirement homes, pre-schools and schools.

Total floor-space is 154,000 sq.m. and total rental value is SEK 114 m, 80% of which is sourced from the Municipality of Harnosand. The average term of those contracts where the Municipality is signatory is approximately 17 years, and for the portfolio overall, about 14 years.

The acquisition price of the properties is SEK 913 m including transaction costs, implying an acquisition cost of just over SEK 5,900 per sq.m.

The transaction is conditional on the approval of the Municipal council. Kungsleden is scheduled to take possession on 1 December 2007.

“We’re thankful that the Municipality of Harnosand has entrusted us to take on ownership of basically all the properties where it operates,” commented Kungsleden’s Chief Executive Thomas Erséus, “it demonstrates that our public properties initiative in recent years has provided municipalities with an alternative to direct ownership.”

]]>

Kungsleden in property swap with Akelius

Mon, 10 Sep 2007 09:00:00 +0100

The acquired properties are located in Helsingborg, Lund, Linkoping and Boras. The properties have total lettable floor-space of almost 14,400 sq.m., the majority being retail and industrial space, with total rental value just over SEK 10 m.

The divested properties are two residential properties located in the southern Swedish cities Malmo and Karlskrona, with lettable floor-space of almost 5,000 sq.m. and rental value just over SEK 5 m. The sales price is nearly SEK 5 m above book value and exceeds acquisition value by almost SEK 5 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2007.

All properties change possession on 30 September 2007.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.

]]>

Kungsleden sells property to Ikano Fastigheter

Mon, 10 Sep 2007 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is divesting an office property in Malmo to privately owned property company Ikano Fastigheter for SEK 263 m. The sales price is SEK 33 m above book value, and exceeds acquisition value by about SEK 68 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2007.

The property, designated Davida 15, is located in central Malmo, and has total lettable floor space of nearly 11,600 sq.m., the majority being office space, and has total rental value of around SEK 20 m.

Kungsleden will transfer possession on 1 October 2007.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.

]]>

Kungsleden consolidates transaction and analysis resources

Wed, 05 Sep 2007 11:49:50 +0100

Peeter Kinnunen started in Kungsleden’s Transaction & Analysis function on 1 September. Peeter joins Kungsleden from property transaction consultant Newsec Investment. Earlier in the year, Marielle Almgren and Anna Alsborger were hired. Marielle is a real estate economics graduate of the Royal Institute of Technology, Stockholm. Anna joins Kungsleden from Catella Corporate Finance.

“We anticipate a sustained high transaction rate on the market generally, and for Kungsleden in particular,” explains Kungsleden’s Chief Executive Thomas Erséus, “we’re delighted to have further strengthened our transaction team with these skilled new colleague

]]>

Kungsleden consolidates position in modular properties

Mon, 03 Sep 2007 12:56:33 +0100

Through its subsidiary Temporent, Swedish listed property company Kungsleden AB (publ), is acquiring Hyrab Moduluthyrning AB for SEK 35 m. Hyrab’s modules have lettable floor-space of approximately 14,000 sq.m. with an annual rent of SEK 15 m.

Hyrab will be integrated with modular lettings business Temporent within Nordic Modular Group, which Kungsleden acquired in January. This deal implies no changes to staffing.

“Hyrab is a very well-managed company with a good reputation on the market. Temporent’s positioning in western Sweden will be advanced with Hyrab’s modular lettings,” commented Per Johansson, Chief Executive of Nordic Modular Group, “we will ensure a maintained service level for our customers by continuing to collaborate with the seller, Hyraktiebolaget Broderna Andréasson.”

Kungsleden takes possession with immediate effect.

]]>

Kungsleden invests in retirement homes in Germany

Mon, 03 Sep 2007 09:00:00 +0100

Swedish listed property company Kungsleden AB (publ) has signed a collaboration agreement with Residenz Gruppe of Germany regarding the construction of eight retirement home properties in Germany. The first building will be completed in December this year, and the remainder progressively through 2008.

The total investment will amount to approximately SEK 490 m (EUR 51.5 m), with an estimated property yield of 7.0%. The lettable floor-space of these properties will amount to about 29,000 sq.m. with accommodation for 576 residents.

Since 1988, Residenz Gruppe has started, operated and developed retirement homes in Germany, and currently operates 14 retirement homes with accommodation for around 1,200 residents. Residenz Gruppe signs 20-year rental agreements with a rental value of nearly SEK 35 m yearly (EUR 3.6 m).

“We will further consolidate our presence on the German market through these retirement homes, which to some extent are in regions where Kungsleden is already present. We see good opportunities for continued growth in Germany,” commented Kungsleden’s Chief Executive Thomas Erséus.

Kungsleden’s objective is to have accumulated a retirement homes holding in Germany worth some SEK 5 bn by year-end 20

]]>

Kungsleden acquires three industrial and warehouse properties

Fri, 24 Aug 2007 11:28:05 +0100

Swedish listed property company Kungsleden AB (publ) is acquiring three properties in Gavle, Motala and Osteraker through three separate transactions for a total purchase price of SEK 144 m.

The total lettable floor-space is just over 28,000 sq.m. while the total rental value amounts to nearly SEK 14 m. The main tenants are TermoRegulator and ByggMax. The estimated property yield is 7.5% on average for the three properties.

Kungsleden is scheduled to take possession of the properties in the fa

]]>

A stronger property portfolio and management earnings

Wed, 15 Aug 2007 13:00:00 +0100

• Net sales increased by 3 per cent to SEK 1,277 (1,245) m.

• Profit before tax was SEK 1,229 (1,362) m. Net profit for the interim period was SEK 861 (1,526) m, equivalent to SEK 6.30 (11.20) per share. Of tax for the period of SEK –368 (164) m, SEK 20 m is tax paid.

• As of 30 June, the property holding comprised 606 (591) properties with a book value of SEK 25,441 (23,106) m.

• In the interim period, 40 properties were acquired for SEK 3,110 m; 20 properties were also divested for SEK 1,852 m, generating a profit of SEK 87 m. These divestments changed profit for calculating dividends by SEK 137 m.

• Profit for calculating dividends for the period was SEK 440 m. Kungsleden is reiterating its forecast profit for calculating dividends of SEK 1,200 m for the financial year 2007.

• After the end of the interim period, Kungsleden has acquired 36 properties for SEK 567 m and divested 97 properties for SEK 1,700 m. The divestments will affect profit for calculating dividends in the third quarter by SEK 300 m.

Second quarter (April-June)

• Net sales increased by 7 per cent to SEK 657 (615) m.

• Profit before tax was SEK 963 (928) m and net profit was SEK 685 (1,161) m, equivalent to SEK 5.00 (SEK 8.50) per share.

“The property market remains healthy, with high investor interest. Property prices have continued to increase, resulting in the value of Kungsleden’s existing property holding increasing by over SEK 700 m since 1 January. We remained active in terms of acquisitions and divestments in this market in the first half-year, albeit slightly less so than in the previous year. Based on our strategy of increasing risk-adjusted returns, we have divested properties with a property yield of 4.1 per cent, while acquired properties have an estimated property yield of 7.6 per cent. The positive progress of our new modular properties initiative, making a healthy profit contribution, is pleasing,” commented Kungsleden’s Chief Executive Thomas Erséus.

“Transaction processes take longer in Germany than Sweden, and while the supply of acquisition targets is plentiful, there are relatively few properties that satisfy our standards. Accordingly, signing contracts on properties under construction may also be considered.”

“The property market has not been notably affected by rising interest rates yet. However, our view is that the previously reducing differences in required property yields between attractive and less attractive properties and locations will increase somewhat through the autumn,” continued Mr. Erséus.

]]>

Kungsleden divests for MSEK 1700 in Karlstad, Gävle, Västerås and Norrland.

Tue, 07 Aug 2007 09:00:00 +0100

The property company Kungsleden AB (publ) divests 97 properties in Karlstad, Västerås, Köping, Kumla, Gävle, Piteå, Skellefteå and Sundsvall.

The buyers are Klövern and Diös.

The sales price is MSEK 1700 which is MSEK 300 above the purchase price, this amount is included in Kungsledens profit for calculating dividend for 2007 and will be reported during the third quarter. The properties has a total lettable area of 340 tsqm consisting mainly of offices and industry/warehouse. The rental value on the portfolio amounts to MSEK 222.

Klövern and Diös will take possession of the properties on September 3 2007.

]]>

Kungsleden acquires public properties

Thu, 05 Jul 2007 14:45:35 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring properties in the southern Swedish localities of Storfors, Skara, Munkedal and Hässleholm through four separate transactions.

The total lettable floor-space is about 14,100 sq.m. the total rental value amounts to SEK 12.7 m of which about 80% is derived from the public sector. The average contract term is nine years.

The total investment cost is SEK 114 m and the estimated property yield is 7.

]]>

Kungsleden acquires 35 properties in northern Sweden

Thu, 05 Jul 2007 09:30:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring 35 properties located in the northern Swedish cities of Umeå, Härnösand, Luleå, Nordmaling and Sollefteå from Midnattssolen Fastigheter AB for a purchase price of SEK 540 m at a property yield of 7.2%. The portfolio has total lettable floor-space of 99,613 sq.m., the majority being office and retail premises with a rental value of approximately SEK 62.5 m. The largest tenants are nationwide surplus retailer Överskottsbolaget, building supplies retailer Ahlsell AB, the University of Umeå, the Swedish social insurance authority Försäkringskassan, the Swedish Tax Agency, the county labour board and the Swedish National Courts Administration.

A contract is currently being conducted at the property in Luleå, and upon completion, this property will be fully let to Sweden Post’s courier arm, Poståkeriet. Kungsleden is scheduled to take possession later this autumn, once final inspection of the contract is approved. Kungsleden is scheduled to take possession of the other properties in this portfolio on 31 August 2007.

For more information, please contact:

Thomas Erséus, Kungsleden’s Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Lars Thagesson, Deputy Chief Executive, tel +46 (0)8 503 05230, mobile +46 (0)70 592 9470

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se

Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 31 March 2007, the property portfolio comprised 598 properties with a book value of SEK 24.3 bn. The holding was located in a total of 128 municipalities, although concentrated on the Swedish provinces of Götaland and Svealand, and the Öresund region. Kungsleden has been quoted on Nordiska Börsen since 14 April 19

]]>

Kungsleden acquires a property in Växjö, southern Sweden

Fri, 29 Jun 2007 10:25:53 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring the property designated Jägaren 11 in Växjö, southern Sweden, for a purchase price of SEK 50 m. This property has lettable floor-space of 13,000 sq.m. and is mainly let to Procivitas independent school, the local county council and the Municipality of Växjö. Total rental revenue is SEK 9.9 m.

The transaction is subject to approval by the Municipality of Växjö’s counc

]]>

Kungsleden acquires in Landskrona

Wed, 27 Jun 2007 13:21:08 +0100

Listed Swedish property company Kungsleden AB (publ) acquires the property Bromsregulatorn 1 in Landskrona. The seller of the property is Fastighets AB L E Lundberg. The purchase price amounts to SEK 199 m and the property yield calculated at 7.6 percent.

The property has a lettable area of approximately 32,600 s.q.m. consisting mainly production facilities with a rental value of SEK 16 m. Haldex Brake Products AB is the sole tenant with an average lease length of 11.5 years.

Kungsleden will take possession of the property on June 27, 20

]]>

Kungsleden acquires logistic properties for SEK 532 m

Tue, 19 Jun 2007 14:30:00 +0100

Listed Swedish property company Kungsleden AB (publ) acquires eight logistic properties in Stockholm, Norrköping, Vetlanda, Gothenburg and Copenhagen. The seller of the properties is Papyrus, a company in the Stora Enso Group. The purchase price amounts to SEK 532 m and the property yield calculated at 6.9 %.

The properties have a total lettable area of 61, 574 s.q.m. with a rental value of SEK 44 m. Papyrus is the sole tenant with an average lease length of 5,5 years.

Kungsleden will take possession of the properties on June 19, 2007 and July 2, 200

]]>

Kungsleden divests property, signs rental agreement with Lindex

Mon, 04 Jun 2007 15:37:42 +0100

Listed Swedish property company Kungsleden AB (publ) has divested a property in Partille, near Gothenburg, to a private company. The sales price of SEK 50 m is more than SEK 5 m over book value and is SEK 27 m above acquisition value. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2007.

Part of the property was sub-divided coincident with the sale, which Kungsleden has retained. A new distribution centre for northern European fashion retail group Lindex is now being built on this site. Kungsleden has signed a 15-year rental agreement with Lindex for the building, which has total floor-space of approximately 14,000 sq.m. Kungsleden is investing almost SEK 100 m in total for Lindex, and the remaining property is estimated to yield about 7.7% after the investment. The customer is scheduled to move in in September 20

]]>

Kungsleden acquires three public properties

Thu, 03 May 2007 14:30:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring two schools in Västerås, west of Stockholm, and a pre-school under construction in Eskilstuna, also west of Stockholm. The two properties in Västerås have lettable floor-space of approximately 4,900 sq.m., and the pre-school in Eskilstuna, which is scheduled for completion at year-end 2007, will have lettable floor-space of approximately 1,400 sq.m. The average contract term is 19 years, and 52% of rental revenues are sourced from the Municipalities of Västerås and Eskilstuna respectively.

The total purchase price is SEK 121 m including transaction costs, and an estimated property yield of 6.4%.

]]>

Kungsleden divests properties in Malmö and Västerås, raising SEK 605 m

Mon, 30 Apr 2007 09:29:00 +0100

Listed Swedish property company Kungsleden AB (publ) is selling four properties in Malmö, and one in Västerås, west of Stockholm, to NLI Eiendomsinvest AS. The sales price is SEK 605 m, SEK 85 m above book value and SEK 230 m above acquisition value. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2007. The property yield calculated on sales price is just under 7%. The properties have total lettable floor-space of 97,600 sq.m., the majority being industrial/warehousing premises, and a minority, offices. This property portfolio has a rental value of just over SEK 55 m.

Possession changes hands on 1 June 2007.

]]>

Strong earnings capacity, forecast retained

Wed, 25 Apr 2007 12:27:00 +0100

• Profit before tax was SEK 266 (435) m in the first quarter of 2007 and net profit was SEK 176 (365) m, equivalent to SEK 1.30 (2.70) per share.

• Net sales reduced by 2% to SEK 620 (630) m.

• In the interim period, nine properties were divested for SEK 1,053 m generating a deficit of SEK –34 m and profit-related cash flow of SEK –125 m; 16 properties were acquired for SEK 925 m. 156,000 sq.m. of modular properties were also acquired, valued at SEK 1,037 m, through the acquisition of Nordic Modular Group for SEK 918 m.

• The holding amounts to 598 properties (591) with a book value of SEK 24,333 (23,106) m.

• Profit for calculating dividends for the period was SEK 9 m. Kungsleden is reiterating its forecast profit for calculating dividends of SEK 1,200 m for the financial year 2007.

Commenting, Kungsleden’s Chief Executive Thomas Erséus said: “We’re experiencing a sustained healthy market for premises and properties, and in this market, the returns on our property portfolio increased from 6.5 per cent to 6.7 per cent in the quarter. The divestment of low-yielding properties, mainly in Belgium, contributed to the gains. Although the divestments reduced our trading net for the period, it was the right strategic decision to divest them now. The strong market and increased property yields enhance our prospects of continuing to post good profits.”

“The first quarter featured our exciting new initiatives in modular properties and in Germany,” continued Mr. Erséus, “early in the year, we acquired Nordic Modular Group, which alongside last year’s acquisition of Flexihus Rent, has a strong, flexible offering in modular properties. We also kept building on our German retirement homes initiative, with a retirement home operation south of Berlin.”

For more information, please contact:

Thomas Erséus, Kungsleden’s Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se

]]>

Kungsleden AB (publ)- Annual General Meeting

Wed, 18 Apr 2007 17:44:00 +0100

Kungsleden AB (publ) held its Annual General Meeting on Wednesday. The Meeting approved the Board of Directors’ proposed dividends of SEK 11.00 per share. The record date was resolved as 23 April, with dividends scheduled for payment from VPC (the Swedish Central Securities Depository & Clearing Organization) on 26 April.

In his presentation to the Meeting, the Chief Executive Thomas Erséus, reviewed the financial year 2006 and current market conditions. A video recording of the Chief Executive’s statement was made, which will be available from Kungsleden’s Website www.kungsleden.se from 19 April onwards.

The AGM discharged the Board members and Chief Executives from liability for the financial year 2006. Jens Engwall, Mats Israelsson, Bengt Kjell, Jan Nygren, Jonas Nyrén, Per-Anders Ovin and Anna Weiner Jiffer were re-elected to the Board. The AGM approved the proposal to increase the Board of Directors by one member, and elected Thomas Erséus. Bengt Kjell was re-elected Chairman of the Board.

The Meeting also adopted new instructions for the Election Committee and appointed KG Lindvall, Gunnar Balsvik and Charlotta Wikström as members of the Election Committee. Bengt Kjell is represented in the Election Committee in his capacity as Chairman of the Board.

The Meeting approved the Board’s proposal to introduce a performance-based staff stock option plan, and approved the principles for remuneration and other employment terms of senior executives.

The Meeting appointed Authorised Public Accountant Björn Flink of KPMG Bohlins AB as auditor, and Authorised Public Accountant Georg Pettersson of KPMG Bohlins AB as deputy auditor.

At the Board meeting following election, Bengt Kjell and Mats Israelsson were appointed members of the Remuneration Committee, while Jan Nygren, Jonas Nyrén, Per-Anders Ovin and Anna Weiner Jiffer were appointed members of the Audit Committee.

]]>

Kungsleden appoints Cecilia Gannedahl HR and Corporate Communications Director

Mon, 16 Apr 2007 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) has hired Cecilia Gannedahl, currently CEO of corporate communications consulting agency GCI Stockholm AB, in the newly created position of HR and Corporate Communications Director of the Kungsleden group. Cecilia will be a member of Kungsleden’s group management and takes up her position in early autumn 2007.

Cecilia has been CEO of GCI Stockholm AB, which has approximately 40 employees, since 2002. She has about 20 years’ experience of corporate communication, management, marketing and sales,

with the past 12 years in senior executive positions.

Commenting, Thomas Erséus, Kungsleden’s Chief Executive, said: “demands to create the best prospects for our organization to progress and deliver are constantly increasing. With her solid experience of communication, leadership, marketing and sales, Cecilia is in the best position to make a very active and positive contribution to Kungsleden’s continued progress. I’m delighted that we’ve succeeded in attracting such an experienced professional as Cecilia, and extend her a warm welcome.”

Cecilia Gannedahl holds a B.Sc. (Econ.) with post-graduate qualifications in law and English.

She is 44, married with two children.

For more information, please contact:

Thomas Erséus, Kungsleden’s Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden

]]>

Kungsleden acquires a public property

Tue, 03 Apr 2007 09:55:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring part of the property with designation Silverängen 1 in Landskrona, southern Sweden, from municipal property company AB Landskronahem. This property has lettable floor-space of 14,753 sq.m. and is mainly let to the Municipality of Landskrona, which operates a school and retirement home in the premises.

The purchase price including transaction costs is SEK 120 m, and the estimated property yield is 7.3%.

]]>

Kungsleden acquires two public properties

Mon, 02 Apr 2007 13:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring the property Lasarettet 8 in Karlshamn, southern Sweden from Blekinge County Council, with lettable floor-space of 11,533 sq.m. The property is mainly let to the Blekinge police authority and the county council itself.

In addition, the property Blinkarp 1:9, with lettable floor-space of 2,600 sq.m. used for sufferers of gambling and other addictions in the Municipality of Svalöv, also in southern Sweden, has been acquired from a private care provider.

The total purchase price is SEK 67 m, and the estimated property yield is 7.5%.

]]>

Kungsleden’s Annual Report 2006

Mon, 26 Mar 2007 16:00:00 +0100

The Annual Report from Kungsleden AB (publ) is available at www.kungsleden.se.

]]>

Convening the Annual General Meeting of Kungsleden AB (publ)

Wed, 14 Mar 2007 08:00:00 +0100

Kungsleden AB (publ) is convening its Annual General Meeting on Wednesday 18 April 2007 at 2:00 p.m. at Hotel Rival, Mariatorget 3, Stockholm, Sweden. The Notice to Attend states the matters to be considered at the Annual General Meeting and:

• The Board of Directors’ proposal to the AGM to implement a performance-based staff stock option plan.

• The Board of Directors’ proposal to the AGM for approval of the principles governing remuneration and other employment terms of senior executives.

Regarding the election of the Board of Directors, the Nomination Committee has proposed increasing the Board of Directors by one member and the re-election of Jens Engwall, Mats Israelsson, Bengt Kjell, Jan Nygren, Jonas Nyrén, Per-Anders Ovin and Anna Weiner-Jiffer, and the election of Thomas Erséus.

Apart from being Chief Executive of Kungsleden AB (publ), Thomas Erséus is a Board member of HQ AB, Hallvarsson & Halvarsson AB and DSV Miljö A/S in Denmark.

Regarding the appointment of auditors and deputy auditors, the Election Committee has proposed that Authorised Public Accountant Björn Flink of KPMG Bohlins AB is appointed as auditor and that Authorised Public Accountant George Pettersson of KPMG Bohlins AB is appointed as deputy auditor.

Bengt Kjell

Kungsleden AB (publ)

Encl: Notice convening the Annual General Meeting

]]>

The shareholders of Kungsleden AB (publ)

Wed, 14 Mar 2007 08:00:00 +0100

are hereby invited to attend the Annual General Meeting, to be held on Wednesday,

18 April 2007 at 2 p.m. at the Hotel Rival, Mariatorget 3, Stockholm, Sweden.

Participation

Shareholders who wish to participate in the Annual General Meeting

must be registered in the shareholders’ register maintained by VPC AB (the Swedish Securities Register Center) by Thursday, 12 April 2007, and

must notify the company of their intention to attend the Annual General Meeting not later than 4 p.m. on Thursday, 12 April 2007 by

- post to Kungsleden AB (publ), Att: Sinikka Mukka, PO Box 70414, SE-107 25, Stockholm, Sweden

- e-mail to: arsstamma@kungsleden.se

- telephone, +46 (0)8 503 052 00

- fax, +46 (0)8 503 052 02

- via www.kungsleden.se

Upon notification, shareholders should state their name, personal-/corporate identity number, address, daytime telephone number, number of shares held and, where applicable, number of representatives and advisors participating. In order to facilitate admission to the Annual General Meeting, powers of attorney, certificates of incorporation and other authorisations should be received by the company not later than Thursday, 12 April 2007. Please note that powers of attorney must be submitted in the original copy.

Shareholders whose shares are registered in the name of a trustee must temporarily register their shares in their own name, in the shareholders´ register maintained by VPC AB, to be entitled to participate in the Annual General Meeting. This procedure, so called voting right registration, must be effected not later than Thursday, 12 April 2007, which means that the shareholder must inform the nominee well in advance before this date.

Proposed agenda

1. Opening of the Annual General Meeting.

2. Election of Chairman of the Annual General Meeting.

3. Drawing up and approval of the voting list.

4. Approval of the agenda.

5. Election of one or more persons to verify the minutes.

6. Determination as to whether the Annual General Meeting has been duly convened.

7. Report on the work of the Board of Directors and the Committees of the Board of Directors.

8. Presentation of the annual report and the audit report and the consolidated financial statements and the consolidated audit report for 2006 and in this connection the CEO’s report.

9. Resolution regarding

a) adoption of the income statement and the balance sheet, and the consolidated income statement and the consolidated balance sheet for 2006,

b) disposition of the company’s profits in accordance with the approved balance sheet for 2006, and determination of the record date for dividends and

c) discharge from personal liability of the Board of Directors and the CEO for the year 2006.

10. Report on the work of the Election Committee.

11. Resolution on the number of members of the Board of Directors, to be elected by the Annual General Meeting.

12. Resolution on the number of auditors and deputy auditors, to be elected by the Annual General Meeting.

13. Resolution regarding remuneration to the Board of Directors, for committee-work and to the auditors.

14. Election of members of the Board of Directors and the Chairman of the Board of Directors.

15. Election of the auditor and the deputy auditor.

16. Resolution on a new instruction for the Election Committee.

17. Election of members of the Election Committee.

18. The Board of Directors’ proposal for approval of principles concerning remuneration and other employment terms for the executive management.

19. The Board of Directors’ proposal for a decision regarding the introduction of a share option incentive programme.

20. The Board of Directors’ proposal for a decision regarding authorization to the Board of Directors to raise certain monetary financing.

21. Closing of the Annual General Meeting.

Proposals

Item 2 The Election Committee proposes that Bengt Kjell is elected Chairman of the Annual General Meeting.

Item 9 b) The Board of Directors proposes a dividend of SEK 11 per share. The Board of Directors proposes that the record date for dividends is to be 23 April 2007. If the Annual General Meeting approves this proposal, it is estimated that VPC AB can arrange for payment of dividends on 26 April 2007.

Item 11 The Election Committee proposes that the Board of Directors shall consist of eight members, including the Chairman of the Board of Directors.

Item 12 The Election Committee proposes that one auditor and one deputy auditor shall be elected for the time until the close of the general meeting which is held during the fourth financial year after the election of the auditor.

Item 13 The Election Committee proposes that:

- an annual amount of SEK 200,000 (an increase by SEK 25,000) is paid to members of the Board of Directors, who are not employed by the company, and that an annual amount of SEK 400,000 (an increase by SEK 50,000) is paid to the Chairman of the Board of Directors;

- an annual amount of SEK 20,000 (an increase by SEK 10,000) is paid to members of the remuneration-committee, who are not employed by the company, and an annual amount of SEK 40,000 (unchanged) is paid to the Chairman of the audit committee and an annual amount of SEK 20,000 (unchanged) is paid to the members in the audit committee, who are not employed by the company and

- remuneration to the auditors is to be paid by approved accounts.

Item 14 The Election Committee proposes that Bengt Kjell, Jens Engwall, Mats Israelsson, Jan Nygren, Jonas Nyrén, Per-Anders Ovin and Anna Weiner Jiffer is re-elected as members of the Board of Directors, and that Thomas Erséus is elected as a new member of the Board of Directors. In addition to his position as CEO of Kungsleden AB (publ), Thomas Erséus is member of the Boards of Directors of HQ AB, Hallvarsson & Halvarsson AB and DSV Miljö A/S Danmark.

The Election Committee further proposes that Bengt Kjell is elected Chairman of the Board of Directors.

Item 15 The company’s auditor Thomas Thiel, KPMG Bohlins AB, has declined re-election with reference to the regulations on so-called auditor rotation in accordance with the eighth EC Company Law Directive.

The Election Committee proposes that chartered accountant Björn Flink, KPMG Bohlins AB, is elected auditor and that chartered accountant George Pettersson, KPMG Bohlins AB, is elected deputy auditor, for the time until the close of the general meeting which is held during the fourth financial year after the election of the auditor.

Item 16 The Election Committee proposes that a new instruction for the Election Committee is admitted, from which it, inter alia, follows; that the members of the Election Committee shall be elected by the Annual General Meeting, that three of the maximum of five members of the Election Committee shall represent the shareholders controlling the largest number of votes as per January 31 and who in addition wish to participate in the election work, that the Chairman of the Election Committee shall be appointed by the Election Committee at its constituting meeting, that that the Election Committee’s period of mandate extend until the close of the following annual general meeting, procedures for replacing a member of the Election Committee or for appointing a new member of the Election Committee within the maximum number of members of the Election Committee and the tasks of the Election Committee.

Item 17 On the 31 January 2007 the shareholders controlling the largest number of votes were Swedbank Robur Fonder AB, Kåpan Pensioner Försäkringsförening and Olle Florén with company. These shareholders have notified their interest to participate in the election work for the annual general meeting 2008 and have stated the following persons as representatives to the Election Committee: KG Lindvall (Swedbank Robur Fonder AB), Gunnar Balsvik (Kåpan Pensioner Försäkringsförening) and Charlotta Wikström (Olle Florén with company).

Item 18 The proposal by the Board of Directors regarding principles for remuneration and other employment terms for the executive management involves inter alia that the company shall apply the level of remuneration and employment terms required in order to recruit and retain an executive management with high competence and capacity to reach the set targets. The forms of remuneration shall motivate the executive management to perform at its highest level in order to guarantee the interests of the shareholders and shall consequently be market-based, uncomplicated, long-standing and measurable. The company’s incentive programmes shall guarantee a long-term commitment for the development of the company and shall be implemented on market-based terms and conditions. Non-monetary benefits to the executive management shall facilitate the performance of the members of the executive management and shall correspond to what can be considered feasible on the market in which the relevant member of the executive management is active. The retirement benefits of the executive management shall be market-based and should be determined by pension plans with a fixed fee rate or be according to the general pension scheme. The remuneration to the executive management, which generally should include a fixed basic salary and a variable part, shall be decided by the Board of Directors after preparation by the Compensation Committee.

Item 19 In order to implement a share option incentive programme for key employees in the Kungsleden Group, the Board of Directors proposes that the Annual General Meeting resolves on a) approval of terms and conditions of the share option programme, b) proposal for authorization for the Board of Directors to decide on the acquisition of own shares, and c) proposal for authorization to for the Board of Directors to decide on the sale of own shares. It is proposed in item a) that the Board of Directors shall be allowed to decide on allotment, where the allotment is conditional upon the dividend based result for the year 2007, of share options with the possibility to acquire a maximum of 300.000 shares in Kungsleden AB (publ) for a maximum number of 30 key employees. The vesting period for the share options shall be at most four years from the time of the allotment of the share options, thus ending on 31 March 2012, and the share options can be exercised for acquisition of shares at the earliest approximately three years after the time for the determination of the exercise price, i.e. starting on 1 June 2010 up to and including 31 March 2012. The exercise price shall be determined to a price equal to 115 per cent of the volume-weighed close price for the Kungsleden share at the Stockholm Stock Exchange during a period of 10 trading days following the Annual General Meeting. The Board of Directors considers that costs and the dilution are expected to have only a marginal impact on the company and the shareholders on account of the limited extent of the programme and that shares already issued are to be delivered. In order to guarantee delivery of shares under the programme, the Board of Directors intends to hedge the financial exposure by way of equity swaps with an outside party and/or acquisition of own shares. In addition to the costs for the hedging as above, the share options could bring about social security costs. For the purpose of permitting the Board of Directors to meet the obligations in accordance with the conditions of the share option programme and also to facilitate the hedging of possible cash flow effects of the social security costs due to the share option programme, the Board of Directors proposes under item b) that the Board of Directors is authorized to decide on the acquisition of a maximum of 400.000 own shares, and under item c) that the Board of Directors is authorized to decide on the sale of a maximum of 400.000 own shares.

The Board of Directors’ proposals under items a) – c) above are mutually conditional.

The decision regarding the introduction of the share option programme is valid where supported by shareholders holding no less than 90 per cent of both the votes cast and the shares represented at the Annual General Meeting.

Item 20 The Board of Directors proposes that the Annual General Meeting resolves to authorize the Board of Directors, until the next Annual General Meeting, on one or several occasions, to resolve to raise certain loans that are subject to the provisions in Chapter 11 Section 11 of the Swedish Companies Act and/or to guarantee such monetary financing to its subsidiaries. The terms and conditions of such loans shall be on market terms. The rationale for the authorization is that the company shall be able to raise such loans on terms favorable to the company, e.g. by making the interest dependent upon the performance or financial position of the company. According to the provisions of the new Swedish Companies Act, which entered into force on 1 January, 2006, a decision to raise such loans must now be resolved by the general meeting or by the Board of Directors, if the Board of Directors has been authorized by the general meeting.

Other matters

The Election Committee’s full proposal to decisions in items 2 and 11-15 and the Board of Directors proposal to decisions in items 9 b) and 20 are as above. The Election Committee’s full proposal to decision in item 16 is presented at the company’s homepage, www.kungsleden.se. The accounting documents and the audit report for the fiscal year 2006 and the statement of the Board of Directors in accordance with Chapter 18 Section 4 of the Swedish Companies Act regarding distribution of profits and in accordance with Chapter 19 Section 22 of the Swedish Companies Act regarding authorisation for acquisition of own shares, respectively, and the full proposal of the Board of Directors to decisions in items 18-19, will be available at the company’s premises as from 4 April 2007, and will be sent to shareholders that so requests stating their address and will be available on the company’s homepage at the same day.

Schedule for the Meeting

1 p.m. The doors open for shareholders.

2 p.m. The Annual General Meeting commences.

The company will offer light refreshments after the close of the Annual General Meeting.

Stockholm, March 2007

Kungsleden AB (publ)

The Board of Directors

]]>

Kungsleden acquires the Täby Park Hotel

Mon, 12 Mar 2007 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring the property designated Åkerby 12 in Täby, north of Stockholm, for approximately SEK 130 m, with an estimated property yield of just over 7%. This property has lettable floor-space of about 13,600 sq.m. and is fully let, largely as a conference facility and hotel. The tenant is Täby Park Hotel, which has signed a 15-year rental contract. The property’s rental value is just over SEK 10.3 m.

Kungsleden takes possession on 2 April.

]]>

Kungsleden acquires four properties in Linköping

Thu, 08 Mar 2007 15:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring four properties in Linköping, south west of Stockholm, for approximately SEK 174 m. The properties have lettable floor-space of nearly 20,000 sq.m. with an estimated property yield of 7.3%. These properties include offices, retail units and industrial/warehouse premises, the majority being offices and industrial/warehouse premises.

This property portfolio has a rental value of just over SEK 16 m.

Kungsleden takes possession on 18 April 20

]]>

Country manager appointed for Germany

Thu, 08 Mar 2007 15:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) has appointed Albrecht von Malortie to lead the company’s start-up in Germany.

Mr. von Malortie’s background is as a property consultant at Dresdner Bank’s real estate operation Dr. Lübke Immobilien and at Jones Lang LaSalle in Germany. Mr. von Malortie has been working for Skanska in Germany since 2000 as Marketing Manager and later as Managing Director of Skanska Project Development. Mr. von Malortie is 44 and was born in Germany, although brought up in Sweden.

“I’m glad that we managed to recruit Albrecht von Malortie. He speaks fluent Swedish and has a good knowledge of Swedish and German business culture, which will be important for the continued work with establishing our German business,” commented Kungsleden’s Chief Executive Thomas Erséus.

Kungsleden began its international initiatives in June last year with the acquisition of nine retirement home properties in Germany. In early 2007, further acquisitions of retirement homes were made south of Berlin. Kungsleden intends to continue its expansion in this segment, where it anticipates healthy growth opportunities on the German market through the coming years.

Mr. von Malortie will take up his new position with immediate effect.

]]>

Kungsleden sells properties in Karlstad

Thu, 01 Mar 2007 15:01:09 +0100

The property company Kungsleden AB (publ) has sold the properties Lantmätaren 7 and 8 in Karlstad. The sales price amounts to MSEK 216 and the buyer is Akelius Fastigheter in Karlstad AB.

The sales price is MSEK 1 higher than the book value and MSEK 62 higher than the acquisition value.

The properties have changed hands on 2007-03-01.

]]>

Chief Executive Thomas Erséus nominated to the Board

Tue, 20 Feb 2007 15:00:00 +0100

Kungsleden’s Election Committee has informed the company that it will be proposing the extension of the Board by one member, to eight members, at the Annual General Meeting (AGM) on 18 April 2007. The Election Committee will propose re-election of all current members, i.e. Bengt Kjell, Jens Engwall, Mats Israelsson, Jan Nygren, Jonas Nyrén, Per-Anders Ovin and Anna Weiner Jiffer and the election of Chief Executive Thomas Erséus. The Election Committee is also proposing the re-election of Bengt Kjell as Chairman of the Board.

Thomas Erséus (born in 1963) has been Kungsleden’s chief executive since 1 September 2006. He is also a Board member of HQ AB, Hallvarsson & Halvarsson AB and DSV Miljö A/S Danmark. In 1998, he was recognised as ‘Leader of the Future’ by Junior Chamber International, the Swedish part of the Worldwide Federation of Young Leaders and Entrepreneurs, and in 2004, was recognised as the construction sector’s Executive of the Year by the Swedish Centre for Management of the Built Environment. He was CEO and President of WSP Europe AB in 2002-2006. Before that, Mr. Erséus was CEO of AB Jacobsson & Widmark, which merged with WSP in 2001

The members of Kungsleden’s Election Committee are KG Lindvall, Chairman, representing Swedbank Robur Fonder, Gunnar Balsvik, representing Kåpan Pensioner Försäkringsförening, Charlotta Wikström, representing Olle Florén and companies and Chairman of the Board Bengt Kjell.

The Election Committee’s complete proposals for resolution at the AGM 2007, more information on the proposed Board members and a report on the Election Committee’s activities will be presented by no later than coincident with the notice convening the AGM.

For more information, please contact:

Bengt Kjell, Chairman of the Board, tel +46 (0)8 666 6441, mobile +46 (0)70 594 5398

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.

]]>

High transaction levels contribute to healthy profits in 2006

Tue, 20 Feb 2007 14:08:58 +0100

• Net profit was SEK 3,574 (1,987) m, equivalent to SEK 26.20 (16.00) per share.

• Rental revenues and operating net increased by 27 and 17 per cent respectively to SEK 2,349 (1,845) m and SEK 1,528 (1,304) m respectively.

• In the year, 388 properties were divested for SEK 12,258 m generating profits of SEK 853 m and cash flow of SEK 2,371 m; 198 properties were acquired for SEK 6,809 m.

• Profit for calculating dividends for the period was SEK 2,913 m.

• The Board is proposing dividends of SEK 11 per share (4).

• The forecast for the financial year 2007 is for profit for calculating dividends of SEK 1,200 m.

“High transaction levels and several major property deals contributed to robust profit gains in 2006,” commented Kungsleden’s Chief Executive Thomas Erséus, “our return on equity rose to 44 per cent against 38 per cent in the previous year. At year-end, our property portfolio had an earnings capacity of 6.5 per cent.”

“A combination of last year’s healthy profits and the ongoing enhancements we’re making to Kungsleden’s organizational resources mean we’re well equipped to remain highly active on the property market.”

Chief Executive Officer Thomas Erséus and Chief Financial Officer Johan Risberg will present the Financial Statement at 8 a.m. tomorrow, Wednesday 21 February, at Operaterassen, Stockholm Sweden. Prospective delegates should apply at www.financialhearings.com, where the presentation will also be streamed live. A link to the presentation will be uploaded to the press and media/videobank section of Kungsleden’s Website.

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se

]]>

Kungsleden makes SEK 82.5 m acquisition in Malmö

Mon, 19 Feb 2007 15:00:00 +0100

Swedish listed property company Kungsleden AB (publ) is acquiring a property in Malmö, southern Sweden, for approximately SEK 82.5 m at an estimated property yield of some 6.7%. The property’s total lettable floor-space is about 8,800 sq.m. Approximately 62% of the property consists of hotel accommodation, 16% is offices, 22% other accommodation while about 7% of the space is vacant. The main tenant is Fosieby Hotell AB. The average term of rental contracts is around three years. The property has a rental value of slightly over SEK 8 m.

The property is to change hands on 1 Mar

]]>

Kungsleden acquires 2 properties in Västerås

Mon, 12 Feb 2007 09:53:32 +0100

The property company Kungsleden AB (publ) acquires two properties in Västerås for MSEK 232,5. The yield based on the purchase price is calculated at 7,8%. The properties have a total lettable area of about 41 800 sq.m with a rental value of MSEK 23.

The properties has changed hands on 2007-02-09.

]]>

Expansion in Germany continues

Fri, 09 Feb 2007 10:05:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring a retirement home property in Werder, about 15 miles southwest of Berlin, for approximately SEK 150 m (EUR 16.4 m), including transaction costs.

This property was built in 2005 and is attractively located with just over 10,000 sq.m. of lettable floor-space and accommodation for 190 residents. The rental value is approximately SEK 11 m (EUR 1.2 m) while the property yield is 7 per cent.

“This property is fully let since a year, and is another building-block in our German retirement homes initiative, which began last year. We have high hopes of making more acquisitions, because the ownership of retirement home properties in Germany still remains fragmented,” commented Kungsleden’s Chief Executive Thomas Erséus.

Kungsleden is scheduled to take possession on 1 April.

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.

]]>

Kungsleden acquires 4 properties

Tue, 06 Feb 2007 14:00:00 +0100

The property company Kungsleden AB (publ) acquires three properties in Kungsbacka and one in Västerås for MSEK 90,3. The yield based on the purchase price is calculated at 7,5%. The properties have a total lettable area of about 12 000 sq.m with a rental value of MSEK 9.

The properties in Kungsbacka changes hands on 2007-03-28. The property in Västerås changed hand on 2007-01-04

]]>

Kungsleden calls off property divestment

Thu, 01 Feb 2007 17:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) has discontinued discussions regarding the divestment of a commercial property holding worth approximately SEK 2 bn, as reported in a press release on 29 November 2006.

The property divestment was called off after the parties’ terms for the deal were not satisfied.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6

]]>

Kungsleden builds and acquires SEK 115 m of public properties

Mon, 22 Jan 2007 15:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is building a new retirement home for private care services provider Carema at Tyresö, south of Stockholm. The estimated investment cost is SEK 64 m.

This retirement home consists of 52 flats, and is scheduled for completion in spring 2008. The lettable floor-space is some 2,900 sq.m., let through a ten-year contract to Carema with an annual rental value of SEK 5.0 m. The estimated property yield is approximately 6.5%.

“Alongside Carema Äldreomsorg, one of Sweden’s foremost private providers of care services, we’ve succeeded in creating an effectively utilised retirement home,” commented Göran Linder, Kungsleden’s Divisional Manager, “which enables cost-efficient operating costs for our tenant.”

Additionally, a Montessori school in Kungsbacka, south of Gothenburg, and a welfare centre in Iggesund, on Sweden’s north-east coast, were acquired in two separate transactions for a total purchase price of SEK 51.5 m. These properties comprise lettable floor-space of about 6,300 sq.m. Total rental revenues are SEK 6.0 m, and they have an estimated property yield of 8.

]]>

Kungsleden in property swap deal with KF Fastigheter

Tue, 16 Jan 2007 09:30:00 +0100

Listed Swedish property company Kungsleden AB (publ) is implementing a swap deal implying the acquisition of two warehouse properties from KF Fastigheter, the real estate arm of the Swedish Co-operative Society, for a total purchase price of SEK 160 m, while simultaneously divesting an office property in Kungens Kurva, south of Stockholm, to KF Fastigheter, for SEK 95 m.

The warehouse properties are located in Årsta wholesale trading estate, also south of Stockholm, and in Luleå, northern Sweden, and have lettable floor-space of approximately 7,100 sq.m. and 18,400 sq.m. respectively. Their estimated operating net totals SEK 12.3 m, implying an initial property yield of about 7.7%.

The property in Kungens Kurva has an acquisition value of SEK 248 m and book value of SEK 95 m. Kungsleden considers that if retained, this property would have returned a negative operating net for 2007. The acquirer, KF Fastigheter, is already a major landowner in the Kungens Kurva area, and is in a good position to develop the property.

Possession is scheduled to transfer on 2 April 20

]]>

Kungsleden extends its offering — acquires Nordic Modular Group

Tue, 09 Jan 2007 09:00:00 +0100

Swedish listed property company Kungsleden AB (publ) is acquiring Nordic Modular Group (NMG) from private equity firm 3i for a purchase price of SEK 918 m. NMG lets over SEK 150,000 sq.m. of temporary premises in modular buildings, in nearly 4,500 modules. NMG has over 220 employees, with estimated sales of SEK 560 m in 2006.

The majority of NMG’s customers are in the public sector and its vacancies are very low. Its rental contract terms are 1-5 years. The estimated operating net of the letting business is some SEK 68 m, equating to a property yield of some 7.4%.

“This acquisition means us extending our offering further, particularly towards the public sector,” commented Kungsleden’s Chief Executive, Thomas Erséus, “we see substantial opportunities to enhance this offering using our sales channels and existing organizational resources, while simultaneously being able to create synergies with modular letting within Flexihus Rent, which was acquired last year.”

Kungsleden anticipates the demand for cost-efficient, flexible accommodation for schools, daycare centres and offices continuing to increase as more customers start to realize the cost benefits of renting modular buildings instead of buying or building.

“We are noting an increased need in the public sector to satisfy short-term demand for premises quickly to bridge demographic peaks and obtain more accommodation in specific and often limited spaces,” continued Mr. Erséus.

NMG has a highly skilled management that has successfully built its business into one of Scandinavia’s largest lessors of temporary accommodation. The change of ownership is not expected to result in any staff changes. Kungsleden is scheduled to take possession of NMG on 17 January 2007.

For more information, please contact:

Thomas Erséus, Kungsleden’s Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Kungsleden’s Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Per Johansson, CEO of Nordic Modular Holding, tel +46 (0)8 590 99043, +46 (0)70 573 0205

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se

Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 30 September 2006, the property portfolio comprised 652 properties with a book value of SEK 24.3 bn. The holding was located in a total of 132 municipalities, although concentrated on the Swedish provinces of Götaland and Svealand, and the Öresund region. Kungsleden has been quoted on the Stockholm Exchange O-list since 14 April 1999.

About Nordic modular

Nordic Modular is the market leader in the production and letting of modular buildings, through its Temporent and Flexator business areas. Temporent started in 1995 and is now one of the biggest lessors of temporary accommodation in Scandinavia. Temporent has customers in Sweden, Norway and Denmark, with its modules used as office, schools, daycare centres and other accommodation. More information at: www.temporent.se

Flexator has been a Swedish market leader in the production of prefabricated premises such as offices, schools and hotels for 50 years. It has customers in the private and public sectors. Its head office is in Anneberg, in the southern Swedish province of Småland, with a sales office in Stockholm. Its production is at Anneberg and Gråbo. More information at www.flexator.se

]]>

Kungsleden makes SEK 557 m acquisition

Thu, 21 Dec 2006 16:40:39 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring 19 properties for

SEK 557 m in three separate transactions.

Seven properties are being acquired from Lantmännen for SEK 277 m at an estimated property yield of 7.3%. Kungsleden will take possession of these properties, with lettable floor-space of 33,200 sq.m have a rental value of SEK 31 m, in February.

Kungsleden is acquiring six properties in the southern Swedish city of Jönköping for a total of SEK 112 m at a property yield of 7.1%. These properties, with lettable floor-space of 12,800 sq.m., have a rental value of over SEK 9 m. Kungsleden takes possession in December and January.

Finally, Kungsleden has acquired six properties in the south-eastern city of Karlskrona for SEK 168 m at an estimated property yield of 8.2%. These properties, with nearly 14,000 sq.m. of lettable floor-space, have a rental value of SEK 19 m. Kungsleden takes possession in Janua

]]>

Kungsleden divests a residential holding

Thu, 21 Dec 2006 16:10:16 +0100

Listed Swedish property company Kungsleden AB (publ) is selling the residential property included in its November 2006 acquisition from Stendörren/Broadgate.

This property portfolio is being divested for SEK 481.5 m, which corresponds to acquisition value and book value, and accordingly, does not generate any profit effect for Kungsleden.

The properties are located in the Municipalities of Botkyrka and Nynäshamn, close to Stockholm, and have lettable floor-space of just over 53,000 sq.m.

The acquirer is Din Bostad AB (publ), which takes possession on 21 December 2006.

For more information, please contact:

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Lars Thagesson, Deputy Chief Executive, tel +46 (0)8 503 05230, mobile +46 (0)70 592 9

]]>

Kungsleden’s financial reports 2007

Wed, 20 Dec 2006 11:45:54 +0100

The property company Kungsleden AB (publ.) forthcoming financial reports:  

• Financial statement for 2006 February 20, 2007 

• Annual Report March, 2007 

• Annual General Meeting April 18, 2007 

• Interim Report January – March April 25, 2007 

• Interim Report January – June August 15, 2007 

• Interim Report January – September October 24, 2

]]>

Kungsleden makes SEK 565 m acquisition

Tue, 19 Dec 2006 12:57:03 +0100

Major listed Swedish property company Kungsleden is acquiring 13 retail and warehousing properties from the Runsven group for SEK 565 m. The Runsven group owns businesses including nationwide surplus retailer Överskottsbolaget, which is the largest tenant in the acquired holding. The properties comprise approximately 95,000 sq.m. of lettable floor-space, with rental value of over SEK 40 m. The average contract term is 12 years. Based on the acquisition price, the property yield is 6.4%. Kungsleden takes possession on 19 December.

“I’m very pleased that we’ve succeeded in doing this deal,” reported Kungsleden’s Chief Executive Thomas Erséus, commenting on the transaction, “the tenant is very profitable, and we hope we can help its continued progress in the coming year

]]>

SEK 250 m investment in retirement homes

Tue, 19 Dec 2006 08:45:00 +0100

Listed Swedish property company Kungsleden AB (publ) is investing approximately SEK 250 m in building and converting the property designated Marknaden 1 in the Northern Stockholm suburb of Täby.

New retirement homes with lettable floor-space of some 5,300 sq.m. will be built at the property, scheduled for completion in summer 2008. The conversion of the Tibble Retirement Home, to be completed in late-2009, will begin after this project concludes. This conversion has floor-space of about 7,200 sq.m.

The Municipality of Täby will be signing a new rental contract coincident with these investments, which runs until 31 August 2028. The total annual rental revenues are approximately SEK 24 m. After the investment, the property yield will be over 6%.

“It’s great that we’ve found a long-term solution for the Tibble Retirement Home together with the Municipality,” commented Göran Linder, Kungsleden’s Divisional Manager, “and that we’ve been entrusted to build a new, state-of-the-art retirement home near Täby’s municipal centre.”

For more information, please contact:

Göran Linder, Divisional Manager, Public Properties, tel +46 (0)8 503 05207, mobile +46 (0)70 690 6575

Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.

]]>

Kungsleden acquires 6 properties

Thu, 14 Dec 2006 11:22:45 +0100

Listed Swedish property company Kungsleden AB (publ) acquires 6 properties worth approximately SEK 140 m. The properties has a lettable floor-space of 9,600 sq.m., with an estimated property yield of approximately 7%.

The properties are located in Täby outside Stockholm, and comprise 34% school 29% retail, 17% office premises and 19% industrial/warehouse. The largest tenants are Ultra Education AB and Europeiska Motor AB. The property portfolio has a rental value of approximately SEK 10,9 m.

Kungsleden is scheduled to take possession during December.

]]>

Kungsleden acquires Montessori school

Mon, 11 Dec 2006 11:51:27 +0100

Listed Swedish property company Kungsleden AB (publ) acquires the property Strängnäs Idun 1.

The property has a lettable area of 3.850 sq.m. and is let to a Montessori school with an expiry date 2015-07-31. The rental value is 4,4 MSEK and the yield on the purchase price is estimated at 7,2 %.

The purchase price is 45 MSEK and the date of taking possession is 15 December 2006.

]]>

Kungsleden divests eight properties in Brussels

Fri, 08 Dec 2006 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) has signed an agreement regarding the sale of eight properties in Brussels. The sales price is EUR 90.5 m (approx. SEK 815 m), and the buyer is private equity and real estate investment management firm JER Partners in joint venture with pan-European investment, asset management and development group Catalyst Capital.

Until 31 January 2007, the transaction is conditional on the buyers financing of the deal.

The Brussels portfolio primarily comprises offices and the properties have a total lettable floor-space of approximately 72,000 sq.m. The total rental value is SEK 96 m.

The sales price is SEK 20 m below book value and SEK 20 m less than the acquisition value. The earnings from the sale will be accounted in the First-quarter Interim Report 2007 and posted to profit for calculating dividends for 2007.

Kungsleden is scheduled to yield possession of the properties in the first quarter 2007. Subsequently, Kungsleden will not have any property holdings in Brussels.

*Profit for calculating dividends means profit after tax excluding unrealized value changes (that do not affect cash flow) and deferred tax. Profit for calculating dividends includes realized value changes. This profit measure corresponds to the cash flow statement item cash flow from operating activities before change in working capital.

]]>

Kungsleden acquires 25 properties

Wed, 06 Dec 2006 11:32:04 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring 25 properties for approximately SEK 657 m in three separate transactions.

These properties have lettable floor-space of about 122,600 sq.m., with an estimated property yield of 6.8%. The majority of the properties are located in southern and central Sweden, and comprise 36% retail, 58% industrial/warehouse and 6% office premises. The largest tenants are Swedish nationwide building supplies retailer ByggMax and global transport and freight corporation DHL. The average rental contract term is 7.7 years; the property portfolio has a rental value of just over SEK 55

]]>

Kungsleden negotiates divestment

Wed, 29 Nov 2006 10:23:03 +0100

Listed Swedish property company Kungsleden AB (publ) has signed a letter of intent regarding the divestment of Swedish commercial properties worth approximately SEK 2 billion.

This transaction is conditional on the buyer arranging funding. Providing the divestment is definitively consummated, the expected capital gain is about SEK 300 m with profit for calculating dividends* of approximately SEK 400 m.

The potential buyer will now conduct its due diligence process. Assuming funding is secured and due diligence proceeds according to plan, a binding agreement is scheduled for signing in late-January/early-February 2007, with transfer of possession in the second quarter 2007.

* Profit for calculating dividends means profit after tax excluding unrealized value changes (that do not affect cash flow) and deferred tax. Profit for calculating dividends includes realized value changes. This profit measure corresponds to the cash flow statement item cash flow from operating activities before change in working capital.

]]>

Kungsleden acquires 7 public properties

Fri, 17 Nov 2006 09:00:00 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring 7 properties in its Public Properties division, in four separate transactions for SEK 116 m. The estimated property yield is 7.5%. These properties are located in the south-western Swedish province of Västra Götaland and in Stockholm, with the latter comprising 54% of the value. The total lettable floor-space is SEK 10,200 sq.m. with aggregate rental value of SEK 11 m. Of rental revenues, 73% are sourced from the public sector, and the average rental term is approximately seven yea

]]>

Kungsleden makes SEK 1.7 bn of acquisitions

Thu, 09 Nov 2006 14:45:07 +0100

Listed Swedish property company Kungsleden AB (publ) is acquiring 24 properties and six site leaseholds for SEK 1.7 bn. The estimated property yield is 6.3%. The properties are located in central and southern Sweden, and have total lettable floor-space of approximately 190,000 sq.m. with rental value of about SEK 172 m. The portfolio consists of 51% commercial premises, 21% supermarkets operated by northern European foods provider ICA and 28% residential property.

Kungsleden is scheduled to take possession on 1 December 2006.

]]>

Kungsleden acquires 8 properties

Fri, 03 Nov 2006 10:58:59 +0100

The property company Kungsleden AB (publ) acquires 8 properties for MSEK 207,5. The yield based on the purchase price is calculated at 7,2%. The properties are situated in Göteborg, Kungälv and Uddevalla and have a total lettable area of about 31 000 sq.m with a rental value of MSEK 22.

Possession changes hands on 2006-12-01

]]>

Kungsleden has divested 172 properties to Keops A/S

Thu, 02 Nov 2006 10:55:45 +0100

On 1 November 2006, Kungsleden divested a holding of 172 properties which Keops A/S acquired in accordance with an earlier agreement announced in June. The value of the property holding amounts to SEK 6.3bn, SEK 1,170 m above book value at the contract date and SEK 1,470 m above acquisition value. The final trade net will be disclosed during the fourth quarter of 2006, and is expected to amount to approximately SEK 550 m, including the value changes until the third quarter of 20

]]>

Kungsleden’s third quarter: Operating net remains strong

Wed, 25 Oct 2006 09:00:00 +0100

• Profit before tax was SEK 1,898 (1,057) m and net profit was SEK 1,918 (1,028) m, equivalent to SEK 14.10 (8.20) per share.

• Rental revenues and operating net increased by 43 and 28 per cent respectively to SEK 1,801 (1,258) m and SEK 1,163 (911) m respectively.

• In the interim period, 204 properties were divested for SEK 5,448 m generating profits of SEK 303 m and cash flow of SEK 965 m; 77 properties were acquired for SEK 2,510 m.

• Profit for calculating dividends for the period amounted to SEK 1,366 m. Kungsleden is retaining its forecast for the financial year 2006 of profit for calculating dividends of SEK 2,900 m.

Commenting, Kungsleden’s Chief Executive Thomas Erséus, said: “The property market remains robust. Property prices have increased so far this year, benefiting Kungsleden’s property holdings. Year to date, value changes in our existing holding are over SEK 900 m, while property trading has generated an additional net of SEK 300 m-plus, implying total value changes of approximately 5 per cent based on property values at the last year-end. Kungsleden’s strategy for risk-adjusted returns has enabled the divestment of properties yielding 5.7 per cent in terms of sales prices, while we have made acquisitions with property yields of 8.0 per cen

]]>

Election Committee appointed ahead of AGM 2007

Wed, 18 Oct 2006 09:29:26 +0100

The Annual General Meeting of 6 April 2006 resolved that representatives of Kungsleden’s three largest shareholders, as well as the Chairman of the Board, would comprise the Election Committee for the period until the next Annual General Meeting. The Chairman of the Election Committee is the representative of the largest shareholder.

Accordingly, the following individuals have been appointed members of the Election Committee:

KG Lindvall representing Robur (Chairman), Gunnar Balsvik representing Kåpan Pensioner and Charlotta Wikström representing Olle Florén and companies. The Chairman of the Board Bengt Kjell is also a member of the Election Committee.

Kungsleden’s Annual General Meeting will be held on 18 April 2007 in Stockholm, Sweden.

Shareholders wishing to make nominations to the Election Committee are requested to approach the Election Committee by e-mail at valberedningen@kungsleden.se or by mail at: Kungsleden AB, P.O. Box 70414, 107 25 Stockholm, Sweden. In order for the Election Committee to consider proposed nominations constructively, nominations should be received by no later than 31 December 2006.

Stockholm, Sweden, 18 October 2006

Kungsleden AB (pu

]]>

New reporting date: third quarter

Thu, 28 Sep 2006 10:29:50 +0100

Kungsleden will be publishing its third-quarter Interim Report on 25 October instead of 24 October as previously announced.

]]>

Kungsleden clarifies future business focus

Tue, 26 Sep 2006 08:59:00 +0100

Listed property company Kungsleden AB (publ) is introducing a new organisational structure with three divisions to clarify its business. This new structure has three divisions: Public Properties, Commercial Properties and Foreign.

Deputy Chief Executive Lars Thagesson, a Kungsleden employee since 1993, will continue to head up the Transaction & Analysis function. Johan Risberg, who has been with Kungsleden since 1996, will remain as Deputy Chief Executive and CFO, responsible for Kungsleden’s central function.

Göran Linder, currently Region head of Public Properties, and a Kungsleden employee since 1998, will head up the new Public Properties division. Eskil Lindnér, currently manager of South Region and a Kungsleden employee since 2000, will manage Commercial Properties. Kungsleden’s new Chief Executive Thomas Erséus, will be acting manager of the Foreign division in anticipation of a permanent replacement.

Kungsleden sees good prospects for foreign business. At present, this applies particularly in public properties in Germany, which have been a contributor to the decision to create an autonomous division with an office in Germany. Staffing this office has begun.

“This re-organisation is intended to clarify and enhance Kungsleden’s positioning so that we can be part of more business in the future. This new structure will also enable us to utilise the specialist know-how within the company better,” says Chief Executive Thomas Erséus.

The new structure comes into effect from 1 November. Eva Eriksson, East Region’s manager since autumn 2005, will leave her position coincident with the re-organisation.

]]>

Kungsleden completes sale of property holding to Keops A/S

Thu, 07 Sep 2006 13:13:44 +0100

Listed Swedish property corporation Kungsleden AB (publ) has consummated the sale of 172 commercial properties to Danish property fund Keops A/S. The deal was previously announced in press releases and Kungsleden’s Interim Report for the second quarter 2006.

The transaction was conditional on the acquirer’s funding, which has now been completed.

The property portfolio is being sold for over SEK 6.3 bn, SEK 1,170 m above book value and SEK 1,470 m above acquisition value. This latter amount will be included in Kungsleden’s profit for calculating dividends for 2006, and posted as income in the 4th quarter.

Ownership of the properties will transfer on 1 November 2006, and pursuant to IAS 18 Revenue, definitive revenue recognition will be as of this date.

“We’re pleased to be able to complete this deal now, with very satisfactory profits,” commented Kungsleden’s Chief Executive Thomas Erséus. “We now note good expansion opportunities in the care and schools segments. Meanwhile, we’ll be able to maintain high transaction levels on commercial propertie

]]>

Kungsleden acquires retirement homes in Stockholm

Mon, 04 Sep 2006 11:00:00 +0100

The property company Kungsleden AB (publ) acquires the property Marchen 1 in Sollentuna for MSEK 116. The yield based on the purchase price is calculated at 7,4 %.

The lettable area of the property amounts to 4 300 sq.m. and is leased to the municipality of Sollentuna with a remaining contract term of 15 year.

Rental value, including interest subsidy, amounts to MSEK 9

]]>

Kungsleden’s second quarter: profit before tax of SEK 1,362 m

Tue, 15 Aug 2006 09:00:00 +0100

• Profit before tax was SEK 1,362 (749) m and net profit was SEK 1,526 (753) m, equivalent to SEK 11.20 (6.20) per share.

• Rental revenues and operating net increased by 56 and 32 per cent respectively to SEK 1,245 (798) m and SEK 741 (560) m respectively.

• In the interim period, 203 properties were divested for SEK 5,455 m generating profits of SEK 312 m and cash flow of SEK 974 m; 74 properties were acquired for SEK 2,264 m.

• Profit for calculating dividends for the period was SEK 1,199 m. Kungsleden is reiterating its forecast for the financial year 2006 of profit for calculating dividends of SEK 2,900 m.

Kungsleden’s Acting Chief Executive Johan Risberg commented: “Kungsleden posted another big profit increase in the second quarter, which is pleasing. Activity was brisk in the quarter with 89 properties divested, whose risk-adjusted returns were lower than the risk-adjusted returns of the acquired property holding. Shareholders’ equity almost doubled on the level at the mid-point of last year, and in financial terms, we’re very well equipped for our future.”

For more information, please contact:

Johan Risberg, Acting Chief Executive and Deputy Chief Executive, tel +46 (0)8 503 05206,

mobile +46 (0)70 690 6565

Detta pressmeddelande och rapporten finns tillgängliga på svenska på www.kungsleden.

]]>

Kungsleden extends time limit in Keops deal

Tue, 01 Aug 2006 10:30:54 +0100

The ongoing sale of a property portfolio to Keops A/S is conditioned by the purchasers financing until 31 July 2006.

The parties have now agreed to extend this time limit until 11 September 2006.

As a consequence the transfer of ownership will be moved to 1 November 2006.

For more information, please contact:

Johan Risberg, CFO/Acting CEO, mobile +46 (0) 70 690 65 65

This press release is available in Swedish at www.kungsleden.

]]>

Kungsleden sells residential property in Stockholm

Fri, 30 Jun 2006 14:02:58 +0100

The property company Kungsleden AB (publ) sells the residential property Bodbetjänten 1 situated in Hökarängen, Stockholm. The sales price amounts to MSEK 53, SEK 29 m above book value and SEK 29,3 m above acquisition value. This latter amount will be included in Kungsleden’s profit for calculating dividends for 2006.

The property has a lettable area of about 5 600 sq.m with a rental value of approximately MSEK 5,2. Possession changes hands on 30 June 2006.

]]>

Kungsleden acquires in Uddevalla

Fri, 30 Jun 2006 08:15:00 +0100

The property company Kungsleden AB (publ) acquires the I17-park in Uddevalla for MSEK 206. The yield based on the purchase price is calculated at 7,5 %. The I17-park consists of the two properties Barkhögarne 12 and Halla-Stenbacken 1:91. The lettable area of the properties amounts to 37 600 sq.m with rental value of about MSEK 26,6. The largest tenants are the municipality of Uddevalla and Fridaskolan which together stand for about 50 % of the rental value.

Possession changes hands on 2 October 2006.

]]>

Kungsleden selling and upgrading forecast

Wed, 28 Jun 2006 09:14:24 +0100

Property company Kungsleden AB (publ) has divested a holding of commercial properties to Danish-based property company Keops. This transaction was previously reported in press releases of 12 April and 23 May 2006.

This property portfolio is being divested for just over SEK 6.3 bn, SEK 1,200 m above book value and SEK 1,500 m above acquisition value. This latter amount will be included in Kungsleden’s profit for calculating dividends for 2006.

The property portfolio comprises a total of 172 properties in locations from Malmö in southern Sweden to Luleå in the north. The total lettable floor-space is approximately 900,000 sq.m. with rental value of around SEK 680 m. The estimated property yield is about 6.5 per cent. The deal is conditioned by the purchasers financing until 31 July 2006.

Kungsleden will transfer ownership of these properties on 3 October 2006.

Coincident with this divestment, Kungsleden is upgrading its forecast profit for calculating dividends for the financial year 2006 from SEK 1,500 m to SEK 2,900 m, or SEK 21 per share.

Kungsleden’s Chief Executive Jens Engwall commented: “A divestment of this scale and healthy profits creates good prospects for expansion in care and schools, while we will also be able to maintain a high transaction level in commercial properties.”

]]>

Kungsleden acquires and sells

Thu, 22 Jun 2006 14:08:03 +0100

The property company Kungsleden AB (publ) acquires the properties Stockholm Postgården 5, Skara Baggen 2 and Ulricehamn Sandåker 1 from Adduktorgruppen for MSEK 90,5. The properties have a rental value of MSEK 7,8 and a total lettable area of approximately 7 700 sq.m. The yield based on the purchase price is calculated at approximately 7,2 %. Possession changes hands on 30 June 2006.

Kungsleden also acquires Jönköping Ädelmetallen 5 and Jönköping Ädelkorallen 1 & 10 for MSEK 38. The yield based on the purchase price is calculated at 7,8 %. The lettable area of the properties amounts to about 6 400 sq.m with a rental value of MSEK 3,6. Possession changes hands on 23 August 2006.

Finally Kungsleden sells the properties Östra Roten 21 & 22, Östra Roten 35 and Karl XV 16 situated in Landskrona. The sales price amounts to MSEK 50 and exceeds the book value with approximately MSEK 12 and the purchase value with about MSEK 19. The later is included in the dividend based result for 2006. The lettable floor-space of the properties amounts to 15 000 sq.m with a total rental value of MSEK 11,3. Puchaser are Annehem Fastighets AB and possession preliminary changes hands on 2 October 2006.

]]>

Kungsleden acquires and sells

Tue, 20 Jun 2006 16:49:51 +0100

The property company Kungsleden AB (publ) has acquired and sold the following properties:

Kungsleden acquires 10 properties in Malmö for MSEK 180. The yield based on the purchase price is calculated at 6,6 %. The lettable area of the properties amounts to 16 600 sq.m, consisting mainly of elderly living, offices and residential apartments, with a rental value of MSEK 15,4. Possession changes hands on 20 June 2006.

Kungsleden sells the property Druvan 1 located in the central parts of Malmö for a sales price of MSEK 55. The sales price exceeds the book value with MSEK 1 and the purchase value with MSEK 14. The later is included in the dividend based result for 2006. The lettable area amounts to about 2 800 sq.m with a rental value of approximately MSEK 4. Possession changes hands on 1 September 2006.

]]>

Kungsleden appoints Thomas Erséus as new CEO

Mon, 19 Jun 2006 15:37:00 +0100

As previously announced Jens Engwall will be leaving his position as CEO of listed property company Kungsleden AB. The Board of Kungsleden AB has appointed Thomas Erséus, currently CEO of WSP Europe AB and Executive Director of WSP Group Plc, as new CEO. Thomas Erséus will enter his new position on 1 September 2006.

Thomas Erséus has served as CEO of WSP Europe AB, a subsidiary of the listed British technical consultant WSP Group Plc, based in London, since 2002. WSP Europe provides consultancy services to primarily the construction and property sectors and to companies within the transport and environmental areas. The company has an annual turnover of around SEK 1.8 million and employs about 2 500 people. Thomas Erséus was previously CEO of the then listed Swedish technical consultant AB Jacobsson & Widmark, which in 2001 merged with WSP. He has also been CEO of Caran AB, a previously listed Swedish technical consultant.

”Thomas Erséus has had a very successful career as a leader of large, listed service companies. He also has extensive experience of establishing and managing operations in an international environment. In addition, he has also participated in several acquisitions and restructuring processes during his career, experiences that fit well into Kungsleden”, says Bengt Kjell, Chairman of the Board of Kungsleden.

Thomas Erséus serves as board member of Hagströmer & Qviberg AB, Hallvarsson & Halvarsson AB and DSV Miljö A/S Danmark. In 1998, he was named Leader of the Future by the Swedish Junior Chamber of Commerce and in 2004 he received the distinction Successful Leader within the Construction Sector by the Centre for Management of the Built Environment. Thomas Erséus is 42 years old, holds a Master of Engineering from Chalmers in Gothenburg, he is married and has five children.

Johan Risberg, Deputy CEO/CFO of Kungsleden, has been appointed as acting CEO of Kungsleden AB during the period 1July – 31 August 2006. Jens Engwall remains a member of the Board of Kungsleden AB.

]]>

Kungsleden begins international retirement homes initiative

Tue, 13 Jun 2006 09:41:30 +0100

Listed property company Kungsleden AB (publ) is beginning an international retirement homes initiative by acquiring nine retirement homes in Germany for EUR 74.3 m.

The properties comprise approximately 37,000 sq.m. of lettable floor-space, with a rental value of over EUR 5.5 m. The acquisition is being conducted at an estimated property yield of 7.0%, with Kungsleden taking possession on 1 September 2006.

HEWAG Seniorstift GmbH is the tenant, through a 15-year rental contract. HEWAG Seniorstift GmbH is a care provider that has conducted business in these properties, which since 1999, have a total of 680 residents.

Commenting on the transaction, Kungsleden's Chief Executive Jens Engwall said: “This deal marks our first step into Europe by acquiring these new, high-quality retirement homes in Germany, all built since the millennium. At present, Germany’s retirement homes have about 600,000 residents; this number is expected to increase to around 900,000 in 2025 to some 1.6 million by 2050. Our objective is to expand in this market over the next 6-12 months, and we perceive very bright prospects of doing so in Germany, where the ownership of retirement home properties remains fragmented.”

]]>

Kungsleden acquires in Umeå and Norrköping

Mon, 12 Jun 2006 14:16:39 +0100

The property company Kungsleden AB (publ) acquires Umeå police station, Umeå Stigbygeln 5, from Umeå Kommunföretag/AB Bostaden i Umeå for MSEK 185. The yield based on the purchase price is calculated at 7,4 %. The lettable area amounts to 15 500 sq.m with a rental value of MSEK 19 and tenants are various authorities within the legal system.

Possession changes hands on 1 September 2006.

Furthermore Kungsleden acquires the property Norrköping Tråden 11 for MSEK 89,4 from Mattsons Fastighetsutveckling AB. Total floor-space is about 20 000 sq.m. with a rental value of approximately MSEK 10. The yield based on the sales price is calculated at 7 %.

Kungsleden will take possession of the properties on 29 June 2006.

]]>

Kungsleden sells

Mon, 05 Jun 2006 12:19:10 +0100

The property company Kungsleden AB sells two housing properties to newly founded housing cooperatives.

The sales price of the properties Gävle Norr 17:6 and Norr 19:3 amounts to MSEK 71 and exceeds the purchase value with MSEK 21. The sales price correspond to about 12 000 SEK/sq.m.

For more information, please contact:

Johan Risberg, Kungsleden’s Deputy Chief Executive, CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 65 65

]]>

Kungsleden acquires

Fri, 02 Jun 2006 13:24:36 +0100

The property company Kungsleden acquires the property Karlstad Regnvinden 1 for approximately MSEK 50. The yield based on the purchase price is calculated at approximately 7,8 %. The lettable area amounts to 10 000 sq.m with a rental value of MSEK 6,3. Kungsleden took possession of the property on 22 May 2006.

Furthermore Kungsleden has acquired Linköping Navhålet 2. The purchase price amounts to just about MSEK 30. The property has a lettable area of 7 640 sq.m divided between production and warehouse units (64%) and offices (36%). Total rental value amounts to MSEK 5 and the yield based on the sales price is calculated at 8,57 %. Kungsleden took possession of the property on 8 May 2006

Kungsleden also acquires 7 properties for a total of MSEK 37. The lettable floor-space of the property amounts to 8000 sq.m with a total rental value of MSEK 5,1. The yield based on the purchase price is calculated at around 10,3%. Possession changed hands on 1 June 2006.

]]>

Kungsleden negotiates divestment

Tue, 23 May 2006 13:30:00 +0100

As announced previously in a press release of 12 April 2006, Kungsleden is negotiating the divestment of commercial properties worth approximately SEK 4.3 bn. This negotiation process has now been extended to encompass commercial properties worth SEK 2.2 bn. The divestment of the properties the negotiations now encompass would generate a capital gain of SEK 600 m and a profit for calculating dividends of SEK 725 m.

In total, current negotiations encompass property worth SEK 6.5 bn; their divestment would generate a total capital gain of SEK 1 250 m and profit for calculating dividends of SEK 1 575 m.

The schedule remains unchanged, and a binding agreement could be signed before the mid-point of the year.

]]>

Kungsleden acquires from—and sells to—Riksbyggen

Mon, 15 May 2006 13:41:50 +0100

Kungsleden is acquiring 11 retirement homes, totalling 26,000 sq.m., for SEK 290 m. These properties, with a rental value of SEK 26 m, are being acquired at an estimated property yield of 6.75 per cent. All the properties have municipal tenants, and the average remaining contract term is nearly eight years. Kungsleden is scheduled to take possession on 1 July 2006.

Secondly, Riksbyggen is acquiring a portion of the property designated Lund Klostergården 2:6 in the St. Lars quarter of Lund, southern Sweden, for SEK 100 m. This property comprises approximately 30,000 sq.m. of housing development rights. The transaction is conditional on Kungsleden receiving detailed planning on the property. The sales price exceeded cost by SEK 70 m. This transaction will not be accounted before 2007, implying that its effects will not affect profits for calculating dividends for 2006.

Finally, Kungsleden and Riksbyggen have reached an agreement to acquire the property care operation included in the autumn 2005 transaction with Weland Fastigheter and Fogelvik Holding, named Realia Service.

On Kungsleden’s side, the background to the transaction is that Realia Service and its operations are not a strategic business for Kungsleden. Much of Riksbyggen’s operations relate to property management, and at present, Kungsleden is one of Riksbyggen’s major customers and a long-term relationship exists.

Coincident with this transaction, Kungsleden and Riksbyggen signed a property care contract on the properties currently managed by Realia Service.

Commenting on the transaction, Kungsleden’s Chief Executive Jens Engwall said: “We are delighted to be able to do these three deals with Riksbyggen. The acquisition and divestment further consolidate the parties’ positioning in each segment, which eventually, will enhance operational efficienc

]]>

Kungsleden acquires properties in Karlskoga

Mon, 15 May 2006 10:11:47 +0100

The property company Kungsleden AB acquires a property portfolio of eleven (11) properties situated in Karlskoga and one (1) property in Stockholm. The purchase price amounts to MSEK 131 with an estimated property yield of approximately 9 %.

The properties has a total lettable area of 32 000 sq.m, of which 63 % are industry/warehouse, with a rental value of approximately MSEK 18.

Possession changes hands on 31 May 2006.

]]>

Kungsleden acquires in Årsta

Fri, 12 May 2006 16:13:35 +0100

The property company Kungsleden AB acquires, from a number of private persons, 5 properties in Årsta wholesale trade area for MSEK 138 including transaction costs.

The properties lettable area amounts to 12.000 sq.m., mainly stock-/logisticsareas with a rental value of MSEK 14.

The yield based on the purchase price is calculated at approximately 7,5 %. Possession changes hands on 30 June 2006.

For more information, please contact:

Johan Risberg, CFO, phone +46 (0)8 503 052 06, mobile +46 (0) 70 690 65 65

]]>

Kungsleden sells residential portfolio

Fri, 05 May 2006 12:02:55 +0100

The property company Kungsleden AB (publ) sells the majority of the residential properties included in the portfolio acquired from Weland Fastigheter and Fogelvik Holding in the autumn of 2005.

The sales price of the property portfolio amounts to MSEK 2 300 and exceeds the book value with MSEK 90 and the purchase value with MSEK 445. The later is included in the dividend based result for 2006.

The majority of the properties are situated in Sundsvall, Vårby, Norrköping, Gävle, Köping and Karlstad. About 80 percent of the total lettable area of 330 000 sq.m are residential and the portfolio comprises about 3 900 apartments.

Purchasers are companies own privately by Erik Selin. According to Erik Selin the deal is about a long term private investment with the purpose of creating an independent management organisation separated from his other investments in the Real Estate sector.

Possession changes hands on 22 May 2006

]]>

Kungsleden acquires

Thu, 04 May 2006 14:17:50 +0100

The property company Kungsleden AB acquires Flexihus Rent i Sverige AB from Svenska Handelsbanken for MSEK 144. Flexihus has school modules of approximately 25 000 sq.m, which mainly are rented to municipalities on lease contracts of 1-5 years. About twenty muncipalities are currently leasing modules. Calculated net operating income amounts to MSEK 18.

Kungsleden’s Chief Executive Jens Engwall commented: “With this acquisition we expand our offer of premises in the public sector. This means that we take one step further to become the natural partner when it comes to real estate related issues within the public sector.”

]]>

Kungsleden’s first quarter: Strong growth and improved operating net

Tue, 25 Apr 2006 10:27:34 +0100

• Profit before tax was SEK 435 (137) m and net profit was SEK 365 (119) m, equivalent to SEK 8.00 (3.10) per share.

• Rental revenues and operating net increased by 65 and 33 per cent respectively to SEK 630 (382) m and SEK 350 (263) m respectively.

• In the interim period, 114 properties were divested for SEK 2,839 m generating profits of SEK 112 m and cash flow of SEK 363 m; 4 properties were acquired for SEK 139 m.

• Profit for calculating dividends for the period amounted to SEK 478 m. Kungsleden is retaining its forecast for the financial year 2006 of profit for calculating dividends of SEK 1,500 m.

”Kungsleden had a strong start to the year with the result three-folding. Property trading during the first quarter had a positive effect on earnings capacity while the risk-adjusted returns were improved. We hope that the AGM’s 3:1 share split decision will contribute to the Kungsleden share continuing to be an attractive investment option”, says Jens Engwall, CEO, in a comment.

]]>

Kungsleden is negotiating sales and acquisitions

Wed, 12 Apr 2006 11:49:45 +0100

The property company Kungsleden AB has signed a letter of intent regarding sale of commercial properties in Sweden amounting to approximately MSEK 4 300 and acquisition of public properties of about MSEK 300. If the sale is carried through, the capital gain is estimated to MSEK 650 and the profit for calculating dividends* to MSEK 850.

Final agreement is estimated to be signed before the end of June 2006.

* Profit for calculating dividends means profit after tax excluding unrealized value changes (that do not affect cash flow) and deferred tax. Realized value changes are included in profit for calculating dividends. This profit figure corresponds to the Cash Flow Statement item ’cash flow from operations before change in working capital’.

For more information, please contact:

Jens Engwall, Kungsleden’s CEO, phone: +46 (0)8 503 05230, mobile +46 (0)70 5929470

Johan Risberg, CFO, phone +46 (0)8 503 052 06, mobile +46 (0) 70 690 65 65

Lars Thagesson, COO, phone: +46 (0)8 503 05230, mobile +46 (0)70 592 94 70

]]>

Kungsleden AB (publ) - Annual General Meeting

Thu, 06 Apr 2006 16:51:36 +0100

Kungsleden AB (publ) held its Annual General Meeting on Thursday. The Meeting approved the Board of Directors’ proposed dividends of SEK 11.00 per share. The record date was resolved as 11 April, with dividends scheduled for payment from VPC (the Swedish Central Securities Depository & Clearing Organization) on 18 April.

Additionally, the Meeting approved the Board of Directors’ proposal to implement a share split through an amendment of the Articles of Association. This transaction means one (1) existing share becoming three (3) new shares. The share split is scheduled for consummation on 11 May 2006, and accordingly, the last trading day before the split is 8 May, and the first trading day after the share split is 9 May.

In his presentation to the Meeting, the Chief Executive reviewed the financial year 2005 and current market conditions.

The AGM discharged the Board members and Chief Executive from liability for the financial year 2005. Jens Engwall, Mats Israelsson, Bengt Kjell, Jonas Nyrén, Per-Anders Ovin and Anna Weiner Jiffer were re-elected to the Board. Jan Nygren was elected. Bengt Kjell was elected Chairman of the Board. The Meeting also adopted new instructions for the Election Committee.

At the Board meeting following election. Bengt Kjell and Mats Israelsson were appointed members of the Remuneration Committee, while Jan Nygren, Jonas Nyrén, Per-Anders Ovin and Anna Weiner Jiffer were appointed members of the Accounting and Audit Committee.

]]>

Kungsleden acquires properties in Uppsala and Hörby

Tue, 04 Apr 2006 08:32:00 +0100

The property company Kungsleden AB acquires the care property Uppsala Gränby 12:6 from PEAB for MSEK 57 including transaction costs. The yield based on the purchase price is calculated at approximately 7 %. The property is under completion after an expansion and a reconstruction of the same and total lettable area will amount to 2 732 sq.m with a rental value of MSEK 4,9. Largest tenant is the county council of Uppsala with a lease contract of 10 years.

Possession changes hands on 1 September 2006.

Kungsleden has also acquired the retirement home property Hörby Röinge 3:4 for a total of MSEK 15,5 including transaction costs from the private care operator KOSMO AB, at an estimated property yield of 10 %. The lettable floor-space amounts to 1 950 sq.m and the property has a rental value of MSEK 2,2.

]]>

Annual Report Kungsleden 2005

Fri, 17 Mar 2006 09:13:01 +0100

The Annual Report from Kungsleden AB (publ) is available at www.kungsleden.se.

Note that the record day for dividends has been proposed as 11 April 2006. If the Annual General Meeting approves the proposal, VPC is expected to distribute the dividends on 18 April 2006.

]]>

Kungsleden sells Knutpunkten in Helsingborg

Thu, 09 Mar 2006 14:30:00 +0100

The property company Kungsleden AB (publ) sells the property Helsingborg Terminalen 1, also known as Knutpunkten. The sales price amounts to MSEK 475 and the yield based on the sales price is calculated at approximately 6,5 percent. The purchaser is Keops A/S.

The sales price exceeds the book value with MSEK 45 and the purchase value with MSEK 89. The later is included in the dividend based result for 2006.

For more information, please contact:

Johan Risberg, CFO, phone +46 (0)8 503 052 06, mobile +46 (0) 70 690 65 65

Lars Thagesson, COO, phone: +46 (0)8 503 05230, mobile +46 (0)70 592 94 70

This press release is available in Swedish at www.kungsleden.

]]>

Convening the Annual General Meeting of Kungsleden AB (publ)

Tue, 07 Mar 2006 08:00:00 +0100

Kungsleden AB (publ) is convening its Annual General Meeting on Thursday 6 April 2006 at 2:00 p.m. at Hotel Rival, Mariatorget 3, Stockholm, Sweden. The Notice to Attend states the matters to be considered at the Annual General Meeting and:

• The Board of Directors’ proposal to the AGM to implement a 3:1 share split, through an amendment to §5 of the Articles of Association.

• Modifying the articles of association to the stipulations of the Swedish Companies Act.

Regarding the election of the Board of Directors, the Nomination Committee has proposed increasing the Board of Directors by one member and proposed the re-election of Jens Engwall, Mats Israelsson, Bengt Kjell, Jonas Nyrén, Anna Weiner-Jiffer and Per-Anders Ovin, and the election of Jan Nygren.

Mr. Nygren is Executive Vice President of SAAB AB; his other positions include Chairman of SAAB Ericsson Space AB and the Confederation of Swedish Enterprise Security Delegation. He is also a Director of IVA (the Royal Swedish Academy of Engineering Sciences) XIth Department for education and research and the Swedish High Command’s adviser on societal contacts.

Jens Engwall

Kungsleden AB (publ)

Encl: Notice to Attend the Annual General Meet

]]>

Kungsleden sells

Thu, 02 Mar 2006 09:43:02 +0100

The property company Kungsleden AB (publ) sells 6 properties for a total of MSEK 88,7.

The properties, situated in Uddevalla, Mariestad and Sävsjö, have a lettable area of 44 000 sq.m of which about 50 % are vacant spaces. The purchasers are local real estate owners in respectively city.

The sales price exceeds the book value with MSEK 22,5 and the purchase value with MSEK 18,4. The later is included in the dividend based result for 2006.

For more information, please contact:

Lars Thagesson, COO, phone: +46 (0)8 503 05230, mobile +46 (0)70 592 94 70

Jens Engwall, Kungsleden’s CEO, phone: +46 (0)8 503 05230, mobile +46 (0)70 5929470

]]>

Kungsleden sells residential properties

Thu, 16 Feb 2006 14:13:56 +0100

The property company Kungsleden AB (publ) sells a property portfolio of 31 residential properties for a total of MSEK 515. The properties, situated in the central and northern parts of Sweden, have a lettable area of approximately 92 000 sg.m of which about 70 % represents residential areas. The rental value amounts to MSEK 77. The purchaser is Eiendomsvaekst.

The sales price exceeds the book value with MSEK 21 and the purchase value with MSEK 20. The later is included in the dividend based result for 2006.

Possession preliminary changes hands on 15 April 2006.

]]>

Jan Nygren nominated to the Kungsleden Board

Wed, 15 Feb 2006 13:38:52 +0100

The Election Committee has informed Kungsleden of its proposal to the Annual General Meeting on 6 April 2006 to extend the board with one member to a total of seven Board Members. The Election Committee will propose the re-election of Bengt Kjell, Mats Israelsson, Jonas Nyrén, Per-Anders Ovin, Anna Weiner Jiffer and Jens Engwall and the election of Jan Nygren as new Board Member. Furthermore, the Election Committee proposes the election of Bengt Kjell as Chairman of the Board of Directors.

Jan Nygren, born 1950 is Executive Vice President of SAAB AB and, inter alia, Chairman of the Board of Directors of SAAB Ericsson Space AB and The Private Sector’s Security Network (NSD) of the Confederation of Swedish Industry as well as a member of he Royal Swedish Academy of Engineering Sciences (division XI for Education and Research Policy) and the Supreme commander’s advisory board for public affairs. Mr Nygren has held various positions at Riksbyggen AB during three intervals, totalling 8 years, including CEO between 1997 and 2000. After graduating from upper secondary school, Mr Nygren got involved in politics and has served as State Secretary at the Ministry for Defence as well as Ministry for Civil Service Affairs. During the years 1994-1996 he served as Minister for Coordination.

The members of the Kungsleden Nomination Committee are KG Lindvall (representing Robur), chairman, Gunnar Balsvik (representing Kåpan Pensioner), Olle Florén and Bengt Kjell, chairman of the Board of Directors.

The complete proposal of the Election Committee for resolutions at the Annual General Meeting 2006 and additional information regarding the proposed Board Members and an account of the work performed by the Election Committee will be given at the latest in connection with the publishing of the notice for the Annual General Meeting.

Stockholm, 15 February 2006

THE BOARD OF DIRECTORS

For further information, please contact:

Bengt Kjell, Chairman of the Board, Telephone: +46-8-666 64 41, Mobile: +46-70-594 53 98

]]>

Kungsleden’s fourth quarter: strong growth

Wed, 15 Feb 2006 11:28:14 +0100

- Profit before tax was SEK 2,116 (500) m and net profit was SEK 1,987 (877) m, equivalent to SEK 48,1 (21,7) per share.

- Kungsleden’s rental revenues increased to SEK 1,845 (1,429) m and operating net increased by 28 per cent to SEK 1,304 (1,017) m.

- Earnings for calculating dividends amounts to SEK 1,001 m, corresponding to SEK 22 (14) per share. The Board proposes that dividend is raised by 56 per cent to SEK 11 (7) per share.

- The Board intends to propose the AGM a share split 3:1.

- During the year, 56 properties were divested for SEK 2,917 m generating profits of SEK 318 m and cash flow of SEK 403 m; 466 properties were acquired for SEK 13,351 m.

- Kungsleden is forecasting profit of SEK 1,500 m for the financial year 2006.

After a year of intensive acquiring Kungsleden reports more than a doubling of the profit per share for 2005. The operating net improved considerably while we have continued to strengthen our earnings capacity through an extensive property trading. During the fourth quarter alone we acquired properties for SEK 7.6 billion. During the year, the total value of Kungsleden’s property portfolio rose from SEK 12.5 billion to SEK 25.8 billion, says Jens Engwall, Kungsleden’s CEO.

For further information, please contact:

Jens Engwall, CEO, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande och rapporten finns tillgängliga på svenska på www.kungsleden

]]>

Kungsleden acquires in Botkyrka

Mon, 23 Jan 2006 10:31:56 +0100

The property company Kungsleden AB (publ) acquires the care property Banslätt 1 in Tullinge in the municipality of Botkyrka from HSB ProjektPartner AB. The purchase price, including transaction costs and tenant improvement costs, amounts to MSEK 75.

The property has a lettable area of 8 340 sq.m. 91 % of the rental income of MSEK 8,6 come from the tenants Stockholms läns landsting and the municipality of Botkyrka. The average remaining lease contract runs approximately 5 years.

The acquisition has an estimated property yield of 7,5 %.

]]>

Kungsleden sells 71 retail properties

Fri, 20 Jan 2006 14:44:39 +0100

The property company Kungsleden AB (publ) sells 71 retail properties for a total of MSEK 1721. The properties, located from Ystad in the south to Haparanda in the north, has a lettable area of approximately 185 000 sq.m of which about 157 000 sq.m are retail areas, with a rental value of MSEK 162. The purchaser is Boultbee Holding.

The properties which mainly were acquired during 2005 have tenants like ICA, Axfood and ONOFF.

The sales price exceeds the book value with MSEK 7, the external value with MSEK 240, and the purchase value with MSEK 205. The yield based on the sales price is calculated at approximately 6,5 percent.

Possession preliminary changes hands on 31 March 2006.

]]>

Kungsleden sells in Malmö

Wed, 18 Jan 2006 15:54:04 +0100

The property company Kungsleden AB (publ) sells the property Malmö von Conow 51 for a total of MSEK 40. The sales price exceeds the book value with MSEK 2, the external value with MSEK 14, and the purchase value with MSEK 13. The yield based on the sales price is calculated at 5 percent.

The property has a lettable area of 2 000 sq.m, mainly office, with a rental value of approximately MSEK 3.

]]>

Kungsleden starts its search for a new Chief Executive

Tue, 17 Jan 2006 08:30:00 +0100

After 13 years, Jens Engwall has announced his intention to leave his position as Kungsleden’s Chief Executive. The search for his successor has begun. Mr. Engwall will remain in his position until mid-year, and the Board has entered into an agreement with Mr. Engwall that he will be at the company’s disposal beyond his six-month notice period, until 1 January 2007.

Commenting, Kungsleden’s Chairman Bengt Kjell said: “in his years of service, Jens Engwall has made a major impact on Kungsleden, apparent in the expansion of our property holding from a value of SEK 5.2 bn at our 1999 IPO to SEK 25 bn today. Meanwhile, he’s built an entrepreneurial organization that manages the company’s holding with a high degree of professionalism, plus its documented skill in completing large, high-speed and complex acquisition and divestment processes. The unequivocal and successful strategy that Kungsleden has pursued will remain in force, and we are now looking for a successor who can take over and enhance the business, while simultaneously, we’re very pleased that Kungsleden will be able to utilize Jens’ services until the end of the year.”

In response, Mr. Engwall added: “after 13 years with Kungsleden, and nearly seven as Chief Executive of a quoted corporation, it feels like a good time to hand over the reins. In the years we’ve been listed, we’ve consummated over 1,400 acquisitions and divestments, and now manage a holding that’s expanded fivefold since our listing. This shows how Kungsleden and its professionals are well-equipped to continue our successful progress. I think the prospects for successful property transactions for this year are just as good as in 2005.”

Mr. Engwall has a six-month notice period, and will receive current salary (albeit without holiday pay or company car benefits) for a further period of six months until his employment concludes. Mr. Engwall will also receive a bonus of six months’ salary and entitlement to a performance-related bonus totalling a further 12 months’ salary dependent on factors including actual performance vs. budget on property transactions and the increase in profit for calculating dividends.

For more information, please contact:

Bengt Kjell, Chairman, Tel: +46 [0]8 666 6441, mobile: +46 (0)70 594 5398

Jens Engwall, Chief Executive, Tel: +46 (0)8 503 05204, mobile: +46 (0)70 690 6

]]>

Kungsleden acquires school properties and prematurely redeem lease contracts

Tue, 27 Dec 2005 15:00:22 +0100

The property company Kungsleden AB (publ) acquires two school properties for a total of MSEK 108. The acquisitions have an estimated property yield of 8,25 %. The properties are situated in Malmö and Göteborg and comprises approximately 9 000 sq.m of lettable floor-space.

Kungsleden also prematurely redeem lease contracts generating an increase of rental income of MSEK 40 during 2005. The current accounting policy does not admit an allocation of revenues on the remaining rental period.

]]>

Kungsleden acquires from Ramirent

Thu, 22 Dec 2005 12:05:00 +0100

The property company Kungsleden AB (publ) acquires 18 properties from the Finnish company Ramirent for a total of MSEK 186. The acquisition has an estimated property yield of 8,6 %.

The properties consists of parts of Ramirents machine rental depots in Sweden and comprises approximately 45 000 sq.m of lettable floor-space and about 400 000 sq.m land. with a rental value of MSEK 24.

The major tenant is Ramirent who stands for approximately 80 % of the rental value with an

average lease length of 8 years.

Kungsleden will take possession of the properties on 31 January, 2006.

]]>

Kungsleden acquires care properties

Mon, 19 Dec 2005 14:29:00 +0100

The property company Kungsleden AB (publ) acquires two care properties and one residential property from Fastighets AB Eric Ekblad for a total of MSEK 93.

The care properties are located in Norrahammar and Gränna in the municipality of Jönköping and comprises 4 263 sq.m of lettable floor-space. The tenants are in the public sector and the average remaining lease contract runs approximately 10 years.

The residential property is located in Norrahammar in the municipality of Jönköping and comprises 1 751 sq.m of residential area and 846 sq.m of retail area.

The acquisition has an estimated property yield of 6,8 %.

]]>

Kungsleden sells and changes forecast

Fri, 16 Dec 2005 14:19:15 +0100

The Swedish listed property company Kungsleden AB (publ) sells the properties Floda Centrum, Landvetter Centrum, Hindås Centrum and one property at Backaplan for a total of MSEK 239. The sales price exceeds the book value with MSEK 35 and the purchase value with MSEK 74.

The properties has a lettable area of 25 700 sq.m with about 40 % shops, 40 % offices and 20 % residential.

The purchaser is the Finnish company Citycon Oyj. Possession changes hands on February 15, 2006.

The company also changes its forecast for the year 2005 regarding profit for calculating dividends* from MSEK 800 to MSEK 925.

]]>

Kungsleden acquires property portfolio from Tornet

Fri, 16 Dec 2005 12:03:12 +0100

The property company Kungsleden AB (publ) acquires 32 properties located in the central and southern parts of Sweden from Fastighets AB Tornet. The purchase price amounts to MSEK 1 050 and the yield based on the sales price is calculated at 7,4 %.

The properties consists of 180 000 sq.m of lettable area, primarily offices and industry/warehouse premises, with a rental value of approximately MSEK 134.

Kungsleden will take possession of the properties on 1 March, 2006.

]]>

Kungsleden financial reports 2006

Fri, 16 Dec 2005 11:23:42 +0100

The property company Kungsleden AB (publ) forthcoming financial reports:

• Financial statement for 2005 February 15, 2006

• Annual Report March 10, 2006

• Annual general meeting April 6, 2006

• Interim Report January – March April 25, 2006

• Interim Report January – June August 15, 2006

• Interim Report January – September October 24, 2006

]]>

Kungsleden divesting, acquiring and investing

Wed, 14 Dec 2005 14:37:56 +0100

Listed property company Kungsleden AB (publ) is divesting its site leasehold Göta Ark 18 in Medborgarplatsen, central Stockholm.

This property is being divested to GE Real Estate for SEK 446 m. It comprises nearly 19,000 sq.m. of lettable floor-space, with a rental value of SEK 43 m. Possession changes hands on 16 December.

Additionally, Kungsleden is selling three properties in Malmö for SEK 75 m, comprising a total of 3,800 sq.m. of lettable floor-space, primarily consisting of various types of short-term housing and retirement homes, with a rental value of SEK 6.2 m.

The above divestments imply a capital loss of SEK 25 m and a realised value change of SEK -18 m.

Additionally, Kungsleden is acquiring the property with designation Nacka Sicklaön 126:4, east of Stockholm, from construction company Byggmästaren UJ Johansson AB, for SEK 58 m. The property has an estimated property yield of 7.1%, and comprises 2400 sq.m. of lettable floor-space with a rental value of SEK 4.7 m. This property is a school, and is let to independent schools operator Kunskapsskolan in its entirety.

Kungsleden is investing SEK 64 m in a new school in Vallentuna north of Stockholm, the tenant being Vittra, another schools operator, with a 15-year rental contract, which will move in during August 2006. This investment is governed by the letter of intent the parties signed coincident with Kungsleden’s acquisition of schools earlier in 2005. At completion, this property will comprise approximately 3,000 sq.m. of lettable floor-space with a rental value of SEK 5.8 m.

]]>

Kungsleden sells in Eskilstuna

Fri, 02 Dec 2005 11:06:20 +0100

The property company Kungsleden AB (publ) sells the property Torlunda 1:276 in Eskilstuna. The sales price amounts to 153 MSEK generating no profit.

The yield based on the sales price is calculated at 6,6 percent.

The property has a lettable area of 13 000 sq.m, mainly residential, with a rental value of 13 MSEK.

]]>

Kungsleden sells in Västervik and Vimmerby

Thu, 01 Dec 2005 14:31:03 +0100

The property company Kungsleden AB (publ) sells 10 properties in Västervik and Vimmerby. The sales price amounts to 150 MSEK generating no profit.

The properties consists of 38 000 sq.m. of lettable area, mainly residential.

Purchaser is Fogelvik Estate AB

]]>

Kungsleden acquires property in Årsta

Thu, 24 Nov 2005 17:06:28 +0100

The property company Kungsleden AB (publ) acquires the property Partihallen 1 in Årsta for a purchase price of 96 MSEK from Axfast. The yield based on the purchase price is calculated at approximately 8 %.

The property consists of about 21 000 sq.m. of lettable area, of which approximately 70 % consists of warehouse. The rental value amounts to 14 MSEK.

]]>

Kungsleden sells Lindome Centrum

Wed, 23 Nov 2005 14:00:00 +0100

The property company Kungsleden AB (publ) sells Lindome Centrum. The sales price amounts to 74 MSEK of which 19 MSEK are above the latest valuation according to the balance sheet and 29 MSEK are above the purchase price. The buyer is the Finnish company Citicon Oyj. Total floor-space is about 8 000 sq.m, around 60 % retail and 40 % offices.

Kungsleden will leave possession of the properties on 3 January 2006.

For more information, please contact:

Jens Engwall, CEO, phone +46 (0)8 503 052 04, mobile +46 (0) 70 690 65 50

Johan Risberg, CFO, phone +46 (0)8 503 052 06, mobile +46 (0) 70 690 65 65

]]>

Kungsleden sells retail properties in Karlstad

Mon, 21 Nov 2005 15:32:01 +0100

The property company Kungsleden sells 4 retail properties in Karlstad. The sales price amounts to 450 MSEK generating a profit of 25 MSEK. The yield based on the sales price is calculated at 6 per cent. The buyer is the Danish Investment company I/S Ejedomsinvest. Kungsleden will leave possession of the properties on 1 February, 2006.

The properties, located in the central parts of Karlstad, consists of 26.000 sq.m. of lettable area, 60 % retail and 35 % offices. The rental value amounts to 41 MSEK.

]]>

Kungsleden sells Klas 11 in Västerås

Mon, 07 Nov 2005 12:10:48 +0100

The property company Kungsleden sells the property Klas 11 in Västerås.The purchase price amounts to 100 MSEK. The sales price is 5 MSEK above the latest valuation according to the balance sheet and 15 MSEK above the purchase price. The buyer is the Ulf Paulson family. The yield based on the purchase price is calculated at 6 per cent. The property consists of 9.000 sq.m. of lettable area, primarily offices. Kungsleden will leave possession of the property on 15 November, 20

]]>

Kungsleden acquires

Wed, 26 Oct 2005 13:27:28 +0100

The property company Kungsleden acquires the property Dockan 9 in Växjö. The purchase price amounts to SEK 124 m and the yield based on the purchase price is calculated at 8.0 per cent. The property consists of 14,600 sq.m. of lettable area, primarily offices and school premises, with a rental value of SEK 15.8 m. Kungsleden will take possession of the property on 1 December, 2005.

For further information, please contact:

Jens Engwall, CEO, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

This press release is available in Swedish at www.kungsleden.se

]]>

Kungsleden’s new share issue oversubscribed

Wed, 26 Oct 2005 08:59:52 +0100

Calculation of Kungsleden’s new issue revealed that 7,506,957 shares, corresponding to 99.0 per cent of the offered shares, have been subscribed through exercise of subscription rights. Including the shares that have been subscribed for without preferential rights, the rights issue has been oversubscribed by approximately 38 per cent. The issue generated SEK 1,001 million, before issue costs.

The 76,491 shares that have not been subscribed for through exercise of subscription rights, corresponding to 1.0 per cent of the total number of offered shares, will be allotted to those who subscribed for shares without preferential rights in accordance with principles set forth in the prospectus.

Through the rights issue the number of shares in Kungsleden increases by 7,583,448 shares and the share capital increases by 9,479,310 SEK. After the rights issue the total number of shares in Kungsleden amount to 45,500,688 shares and the share capital to 56,875,860 SEK. The last trading day with the paid-up subscribed shares (BTA) is expected to be 7 November 2005. The newly issued shares are expected to be traded on the O-list of the Stockholm Stock Exchange (Stockholmsbörsen) starting Thursday 17 November, 2005.

”I am happy that the rights issue was oversubscribed and even happier that we already have put the new capital into work through the larger acquisition we performed 10 October. Looking forward we see continued opportunities to beneficial deals – both in form of divestments in the new as well as in the existing portfolio and continued acquisitions, preferably of properties with tenants within care and education” says Jens Engwall, CEO of Kungsleden.

Enskilda Securities is acting as financial advisor to Kungsleden AB for the rights issue. Advokatfirman Cederquist is acting as legal advisor.

Stockholm, Sweden, 26 October 2005

Kungsleden AB (publ)

For more information, please contact:

Jens Engwall, CEO, phone +46 (0)8 503 052 04, mobile +46 (0) 70 690 65 50

Johan Risberg, CFO, phone +46 (0)8 503 052 06, mobile +46 (0) 70 690 65

]]>

Kungsleden acquires

Mon, 24 Oct 2005 17:00:36 +0100

The property company Kungsleden AB (publ) acquires 11 properties from ONOFF. The purchase price amounts to MSEK 275 and the yield based on the purchase price is calculated at 7,0 %.

The properties consists of 27 000 sq.m of lettable area with a rental value of MSEK 25.

In connection with the transaction ONOFF signs lease contracts on 29 % of the lettable area with an average lease length of 10 years.

Kungsleden’s Chief Executive Jens Engwall said: “We are very pleased to complete yet another deal with a strong player on the retail market that more than well complements our previous acquisitions that we have made this year”.

For more information, please contact:

Jens Engwall, CEO, phone +46 (0)8 503 052 04, mobile +46 (0) 70 690 65 50

Johan Risberg, CFO, phone +46 (0)8 503 052 06, mobile +46 (0) 70 690 65 65

This press release is available in Swedish at www.kungsleden.se

]]>

Kungsleden’s Nomination Committee appointed

Thu, 20 Oct 2005 14:22:27 +0100

Kungsleden's AGM in 2004 resolved that during September, the Chairman would contact the major shareholders about establishing a Nomination Committee.

After consultation between these shareholders, the Nomination Committee has been appointed. The convener is the Chairman Bengt Kjell and the representatives for the shareholders are KG Lindvall respresenting Robur, Gunnar Balsvik representing Kåpan Pensioner and Olle Florén.

]]>

Kungsleden’s third-quarter: profitable growth

Thu, 20 Oct 2005 12:53:00 +0100

Jens Engwall, Kungsleden’s Chief Executive, commented: “Since publishing our half-year Interim Report on 16 August, Kungsleden has resolved on a new issue, and as a consequence of last week’s SEK 5.5 bn acquisition, we’ve already put the proceeds from this issue to work. The acquisition lifts our operating net by 25 per cent, or SEK 357 m, to SEK 1,755 m, unequivocally demonstrating that there are still attractive deals to be done. The acquisition also enhances our scope for new deals, in the acquired and existing holdings. We also note sustained healthy prospects to acquire properties with public sector tenants, mainly retirement homes, care and education properties.”

]]>

Press Release 14 October 2005

Fri, 14 Oct 2005 08:00:00 +0100

The Board of Directors of Kungsleden has decided to extend the subscription period of the ongoing rights issue until 21 October 2005 inclusive.

Due to uncertainties regarding the interpretation of the new insider regulation that came into force on 1 July 2005, the Board of Directors has decided to extend the subscription period for the ongoing rights issue until 21 October 2005 inclusive, i.e. until after the announcement of the interim report for the period 1 January – 30 September 2005. Through this extension, shareholders in positions that would give them access to insider information will be able to exercise their allocated rights to subscribe in the rights issue. The extension does not imply that the period for trading in subscription rights will be extended. As a consequence of the extension of the subscription period, Kungsleden will register a supplement to its prospectus regarding the Offer to subscribe for shares in Kungsleden AB’s new issue 2005.

For more information, please contact:

Jens Engwall, CEO, phone +46 (0)8 503 052 04, mobile +46 (0) 70 690 65 50

Johan Risberg, CFO, phone +46 (0)8 503 052 06, mobile +46 (0) 70 690 65 65

Peder Egnell, Enskilda Securities, phone +46 (0)8 522 295 00

]]>

Press Release 10 October 2005

Mon, 10 Oct 2005 13:20:00 +0100

Listed property company Kungsleden AB (publ) is acquiring a holding of a total of 179 properties with an aggregate property value of SEK 5.5 bn from Weland Fastigheter and Fågelviks Holding. The holding encompasses 1,000,000 sq.m. of lettable floor-space with rental value of SEK 834 m.

Kungsleden’s Chief Executive Jens Engwall commented: “When we announced the current new issue, we noted that attractive property deals could still be done. Today’s acquisitions enhance our prospects of developing Kungsleden in line with our stated strategy through continued property transactions — in the acquired and existing holding.”

The acquired holding can be grouped into four segments:

Retirement homes and care properties

The acquired holding comprises retirement homes and care properties with a property value of approximately SEK 0.8 bn and total lettable floor-space of 122,000 sq.m., mainly retirement homes in Rosengård, Malmö and S:t Lars, Lund (both southern Sweden) which is also a housing construction project. Overall, retirement homes and care properties have rental value of SEK 114 m and rental revenue of SEK 105 m with a property yield of 7.7%.

Residential

SEK 2.4 bn of the acquired holding is housing with total lettable floor-space of 426,000 sq.m., and 81% of this holding is located in the cities and towns of Stockholm, Karlstad, Sundsvall, Norrköping and Gävle. The residential holding’s rental value is SEK 344 m with rental revenues of SEK 312 m and property yield of 6.2%.

Commercial properties

The acquired holding also encompasses commercial properties in Sweden, with total lettable floor-space of 386,000 sq.m. The commercial properties have an aggregate property value of SEK 1.4 bn, including properties such as retail centre Slagsta Strand in Botkyrka near Stockholm, and municipal centres in Brandbergen and Vårberg, also near Stockholm. The commercial properties in Sweden have a rental value of SEK 275 m, rental revenues of SEK 216 m and a property yield of 8.0%.

Foreign property

The acquired holding also includes 7 investment properties, 6 of which are in Brussels and one in Amsterdam with a total property value of SEK 300 m and a property yield of 6.5%. The holding also includes Manhattan Centre in Brussels, which is a project being let, with a property value of approximately SEK 550 m and an initial property yield of 2%. This project has lettable floor-space of 50,000 sq.m., primarily comprising offices, but also some retail premises and a car park with 650 spaces.

Overall, the acquired holding has a rental value of SEK 834 m, a rental revenue of SEK 681 m and an operating net of SEK 357 m, corresponding to a 6.6% property yield.

Kungsleden takes possession on 1 December 2005, and will take on existing staff of some 100 full-time employees, half of which are janitors. Management of the holding will be integrated into Kungsleden’s current regions and service centre.

Prospectus supplement

Kungsleden is currently engaged in a new issue with a subscription period extending until 18 October 2005 inclusive. As a consequence, Kungsleden will register a supplement to its prospectus regarding the Offer to subscribe for shares in Kungsleden AB’s new issue 2005.

For more information, please contact:

Jens Engwall, CEO, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden –Extraordinary General Meeting

Wed, 21 Sep 2005 08:00:00 +0100

Kungsleden AB (publ) held yesterday an Extraordinary General Meeting which approved the Boards decision on a rights issue dated 16 August 2005.

The preferential rights issue aims to create the financial strength necessary to exploit attractive acquisition opportunities ahead.

• Rights issue of up to SEK 1,001 million

• Shareholders entitled to subscribe for one new share for every five shares held

• Issue price of SEK 132 per share

• Subscription period 28 September – 18 October 2005

• Record date for participation in the rights issue 23 September 2005

• The rights issue will at full subscription increase the number of outstanding shares in Kungsleden with 7 583 448 from 37 917 240 to 45 500 688 shares.

Further information regarding the rights issue, including background and reasons, is to be found in a press release from 16 August 2005.

For further information, please contact:

Jens Engwall, Kungsleden’s CEO, phone: +46 (0)8 503 05230, mobile +46 (0)70 5929470

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden acquires school properties

Mon, 12 Sep 2005 13:32:17 +0100

The property company Kungsleden AB (publ) acquires four (4) school properties from Vittra and Bure. The purchase price amounts to MSEK 407 and the yield based on the purchase price is calculated at 7 %.

The properties which are located in Stockholm, Solna, Södertälje and Linköping consists of 17 000 sq. m of lettable area. Kungsleden will take possession of the properties in Solna, Södertälje and Linköping on October 20 2005. These properties share of the purchase price is 48 %. The property in Stockholm will be transferred on September 30 2006.

In connection with the transaction Vittra signs 15 year long lease contracts on all four properties and the parties enters a letter of intent concerning four additional schools in the next coming two years.

“I am very pleased with signing this deal with Vittra and Bure. The properties are newly constructed or newly refurbished to modern school properties and in Vittra we get a tenant who is one of the leading players within the private school market in Sweden which hopefully leads to new business opportunities in the future” says Kungsledens CEO Jens Engwall commenting on the transaction.

For further information, please contact:

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Lars Thagesson, Kungsleden’s COO, phone: +46 (0)8 503 05230, mobile +46 (0)70 5929470

]]>

Kungsleden sells and acquires

Mon, 29 Aug 2005 15:04:02 +0100

Swedish listed property corporation Kungsleden AB (publ) sells the property Kanoten 7 located in Karlstad for a total of MSEK 125 resulting in a capital gain of MSEK 4. Total floor-space is about 10 000 sq.m. consisting mainly of offices. Purchaser is Klövern.

Furthermore Kungsleden acquires the property Skruven 3 in Kungälv for MSEK 58. The property consists of 8 000 sq.m of lettable area with an estimated property yield of 8 %.

For further information, please contact:

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Lars Thagesson, Kungsleden’s COO, phone: +46 (0)8 503 05230, mobile +46 (0)70 5929470

]]>

Press Release 11 July 2005

Mon, 11 Jul 2005 08:30:00 +0100

Swedish listed property corporation Kungsleden AB (publ) sells the property Angered 94:2 in Gothenburg for a total of SEK 365 m resulting in a capital gain of SEK 125 m. The purchaser is Ejendomsvaekst.

The property has a lettable area of about 40 000 sq.m, with about 50 % offices and 50 % retail/restaurants. Rental value of the property amounts to SEK 43 m.

The above mentioned sale is reported in the figures for the second quarter 2005.

The company also changes its forecast for the year 2005 regarding profit for calculating dividends* from SEK 600 m to SEK 725 m.

For further information, please contact:

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Lars Thagesson, Kungsleden’s CFO, phone: +46 (0)8 503 05230, mobile +46 (0)70 592 9470

]]>

Press Release 30 June 2005

Thu, 30 Jun 2005 14:33:51 +0100

Swedish listed property corporation Kungsleden AB (publ) sells the property Vagnhallen 15 located in Vällingby for a total of MSEK 60 resulting in a capital gain of MSEK 20. Total floor-space is about 8 800 sq.m. consisting mainly of retail. Purchaser is Gillesvik Holding AB.

For further information, please contact:

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Lars Thagesson, Kungsleden’s CFO, phone: +46 (0)8 503 05230, mobile +46 (0)70 5929470

]]>

Press Release 23 June 2005

Thu, 23 Jun 2005 14:17:54 +0100

Swedish listed property corporation Kungsleden AB (publ) is acquiring 61 properties situated in the north of Sweden from Norrvidden Fastigheter AB. The purchase price amounts to SEK 610 m including transaction costs, at an estimated property yield of 9,0 %.

The property portfolio area consists of about 37 % industrial/warehouse, 26 % residential, 22 % offices, 11 % retail and 4 % other, where no single tenant holds a dominant position with regards to rental values. Total floor-space is about 107 000 sq.m. with rental values of SEK 102,6 m.

Kungsleden will take possession of the properties 30 September 2005.

Kungsleden’s Chief Executive Jens Engwall said: “The portfolio is a classic Kungsleden portfolio with many houses and a high level of liquidity that will lead to a number of interesting business opportunities”.

For further information, please contact:

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Lars Thagesson, Kungsleden’s C0O, phone: +46 (0)8 503 05230, mobile +46 (0)70 592 9470

]]>

Press Release 23 June 2005

Thu, 23 Jun 2005 10:54:34 +0100

Swedish listed property corporation Kungsleden AB (publ) sells the properties Malmö Söderport 9 and Kamelen 14 in two separate deals for a total of MSEK 175 resulting in a capital gain of MSEK 19. The properties acquisition value amounts to MSEK 152.

The yield based on the sales price is calculated to 8,3 %.

For further information, please contact:

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Lars Thagesson, Kungsleden’s COO, phone: +46 (0)8 503 05230, mobile +46 (0)70 5929

]]>

Press Release 17 June 2005

Fri, 17 Jun 2005 15:10:11 +0100

Listed property corporation Kungsleden AB (publ) is acquiring 32 properties for a purchase price of SEK 750 m including transaction costs, at an estimated property yield of 7.5 percent.

The properties are primarily Axfood outlets and Åhléns department stores. Total floor-space is over 107,000 sq.m. with rental values of nearly SEK 89 m. Axfood and Åhléns represent approx. 80 percent of the rent.

Kungsleden’s Chief Executive Jens Engwall said: “I’m very pleased we could complete this deal, and thereby further increase the retail share of our property portfolio. This acquisition complements well our previous acquisitions of 27 retail properties from ICA”

For further information, please contact:

Jens Engwall, Kungsleden’s CEO, phone: +46 (0)8 503 052 04, mobile +46 (0)70 690 65 50

Lars Thagesson, Kungsleden´s COO, phone: +46-8-503 052 30, mobile +46-(0)70

]]>

Kungsleden buying and selling

Thu, 16 Jun 2005 11:44:01 +0100

The property company Kungsleden AB (publ) has acquired three (3) properties in Haninge outside Stockholm for MSEK 98 with a yield of 8,3 %. The property consists of 18.000 sqm of lettable area, mainly warehouse, with a rental value of MSEK 11,5.

At the same time Kungsleden sells the property Stockholm Stenskärven 8 for MSEK 28 resulting in a loss of MSEK 9.

For further information, please contact:

Jens Engwall, Kungsleden’s CEO, phone: +46 (0)8 503 052 04, mobile +46 (0)70 690 65 50

Lars Thagesson, Kungsleden´s COO, phone: +46-8-503 052 30, mobile +46-(0)70 592 94 70

]]>

Press Release 8 June 2005

Wed, 08 Jun 2005 09:54:46 +0100

The property company Kungsleden AB (publ) has in a number of deals acquired and sold the following properties.

Acquisition of eight (8) properties in Borås for MSEK 135 with a yield of 8,2 %. The properties consists of 28.000 sqm of lettable area, mainly offices, with a rental value of MSEK 17.

Acquisition of one property in Upplands Väsby and one property in Gävle for MSEK 182 with a yield of 8,3 %.

Furthermore Kungsleden has sold the properties Kalmar Åldermannen 3 and Södertälje Magasinet 3 for MSEK 102 with no result. The acquisition value of the properties amounts to MSEK 91.

For further information, please contact:

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Press Release 20 May 2005

Fri, 20 May 2005 11:59:42 +0100

Listed property corporation Kungsleden AB (publ) is acquiring 27 properties from northern European food provider ICA. The purchase price is SEK 580 m including transaction costs, at an estimated property yield of 7.25 percent.

The properties are primarily ICA Supermarket and ICA Kvantum outlets. Total floor-space is over 57,000 sq.m. with rental values of nearly SEK 56 m. ICA signed rental agreements on all properties coincident with the transaction, with an average term of eight years.

”We’re divesting these properties to free up capital to invest in new stores and hypermarkets, and we’re delighted that a skilled landlord is taking over in these locations,”said Bo Liffner, CEO of ICA Fastigheter AB.

Kungsleden’s Chief Executive Jens Engwall said: “I’m very pleased we could complete this deal, and thereby increase the retail share of our property portfolio.”

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden - new regional manager

Mon, 09 May 2005 13:30:10 +0100

The property company Kungsleden AB (publ) has appointed Eva Eriksson as regional manager East. Presently Eva Eriksson is head of JM Fastighetsutveckling. Eva Eriksson will be a member of the Kungsleden Group management team.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Press Release 2 May 2005

Mon, 02 May 2005 09:33:00 +0100

Swedish listed property company Kungsleden AB (publ) uses its option to acquire the remaining 50 % of the company Hemsö Äldreboende AB, co-owned with Catella.

The acquisition provides for property values of SEK 395 m with an estimated property yield of 7 %.

The day of taking possession is set for May 2, 2005.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

This press release is available in Swedish at www.kungsleden.se

]]>

Kungsleden acquires

Tue, 26 Apr 2005 11:42:25 +0100

Swedish listed property company Kungsleden AB (publ) has in three separate deals acquired nine properties.

A property portfolio of seven properties situated in Malmö/Lund has been acquired. The acquisition price amounts to SEK 178 m and the yield based on the sales price is calculated at 7,8 %. The properties consists mainly of offices and retail and the lettable area amounts to 22 000 sq.m with a rental value of SEK 20 m.

Furthermore has an industrial/warehouse property located in Ängelholm been acquired with an acquisition price of SEK 60 m. The yield based on the sales price is about 10 %. The lettable floor-space of the property is 11 000 sq.m and has a rental value of SEK 5 m.

A property in Västerås has also been acquired with an acquisition price of SEK 77 m. The yield based on the sales price is calculated at 9,5 %. The lettable floor-space of the property amounts to 23 000 sq.m, consisting mainly of retail and industrial/warehouse, and has a rental value of approximately SEK 12 m.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden’s first quarter: Earnings after financial items SEK 129 m

Tue, 19 Apr 2005 12:55:38 +0100

“The result of our property trading improved considerably, despite the fact that we only sold six properties for a total of SEK 155 million. Meanwhile, we acquired as many as 70 properties for a total of SEK 2.4 billion and thereby laid the foundation for the new business area Care Properties. These properties fit well into our business concept of owning and managing real estate generating high and stable returns”, says Jens Engwall, CEO, commenting on the first quarter.

For further information, please contact:

Jens Engwall, CEO, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

This press release and the financial statement are available in Swedish at www.kungsleden.

]]>

Kungsleden AB (publ)—Annual General Meeting

Thu, 07 Apr 2005 17:23:04 +0100

Kungsleden AB (publ) held its Annual General Meeting on Thursday. The Meeting approved the Board of Directors’ proposed dividends of SEK 15.00 per share. The record date was resolved at 12 April, with dividends scheduled for payment from VPC (the Swedish Central Securities Depository & Clearing Organization) on 15 April.

Additionally, the Meeting approved the Board of Directors’ proposal to implement a share split through an amendment of the Articles of Association. This transaction means one (1) existing share becoming two (2) new shares. The share split is scheduled for consummation on 17 May 2005, and accordingly, the last trading day before the split is 12 May, and the first trading day after the share split is 13 May.

In his presentation to the Meeting, Chief Executive Jens Engwall reviewed the financial year 2004 and current market conditions: “Early 2005 has been good for Kungsleden, consolidating our prospects of realising our forecast profit for calculating dividends of SEK 600 m, and the possibility of us being a net buyer of properties of around SEK 3-4 bn in 2005.”

The AGM discharged the Board members and Chief Executive from liability for the financial year 2004. Jens Engwall, Mats Israelsson, Bengt Kjell, Jonas Nyrén, Per-Anders Ovin and Anna Weiner Jiffer were re-elected to the Board.

Bengt Kjell was appointed Chairman of the Board at the Board meeting following election. Bengt Kjell and Mats Israelsson were appointed members of the Remuneration Committee, while Jonas Nyrén, Per-Anders Ovin and Anna Weiner Jiffer were appointed members of the Accounting and Audit Committee.

Additionally, Kungsleden’s Chief Operating Officer Lars Thagesson was appointed Deputy Chief Executive.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s deputy chief executive,CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden forms new business area – acquires care properties for SEK 1 billion

Fri, 18 Mar 2005 10:07:36 +0100

Kungsleden is forming a new business area, Care Properties, and is acquiring 44 properties for a total of approximately SEK 1,045 million in Västra Götaland and Greater Stockholm. Kungsleden intends to continue to invest in care properties, a real estate category that fits in well with the company’s business concept of owning and managing properties generating high and stable returns. Kungsleden is also acquiring two retirement home properties for SEK 250 million.

Kungsleden is initiating its investment in properties in the care sector and is forming the Care Properties business area. The background is the implementation of the previously announced acquisition of 33 care properties for approximately SEK 645 million from the Västra Götaland Region in parallel with the acquisition from Stena Fastigheter of care and retirement home properties in Greater Stockholm for SEK approximately 400 million. The return on all the acquired care properties is 8.50 percent.

Care properties offering attractive risk and return levels

Care properties situated in attractive locations, with healthcare centres for example, represent a real estate category offering attractive risk and return levels, which is fully in line with Kungsleden’s business concept. These are properties subject to particular requirements in terms of management and development. As a result of the company's experience, in the retirement home segment for example, and its organization, Kungsleden has excellent potential to successfully implement acquisitions of care properties and to manage the properties efficiently.

Care sector under transformation creates opportunities

Major structural changes are under way in the care sector, including a concentration of the activities of county councils to specialist and emergency care. Many hospital properties owned by county councils currently contain large amounts of healthcare centres and premises for dental care, rehabilitation and similar purposes, as well as privately operated medical care and other related activities. Kungs¬leden has concluded that county councils are increasingly considering abandoning their role as a property owner, in part to release capital for their core activities, and in part because properties with large amounts of external tenants require the type of management in which county councils are not prepared to invest resources, since it is considered to be outside their sphere of activities.

“During recent years, our investments in properties used as retirement homes have been highly successful. Similarly, care properties – with stable tenants, long-term customer relationships and attractive locations, combined with their specific management requirements – offer considerable potential. These are buildings that are needed, regardless of the structural transformation currently in progress in the healthcare sector. Our ambition is to grow within this sector”, says Jens Engwall, Kungsleden’s Chief Executive Officer, commenting on the transactions.

Acquisition of care properties in Västra Götaland

Kungsleden has reached an agreement with the Västra Götaland Region regarding the previously announced acquisition of 33 care properties for a total purchase consideration of approximately SEK 645 million. The properties are situated in 20 of the Region’s 49 municipalities and contain a total of 150,000 square metres of lettable floor space. The rental value is about SEK 129 million, of which 60 percent derives from the Region’s own activities, such as primary and dental care, physiotherapy and administration, while 40 percent is generated from external tenants, mainly municipalities. Completion will take place on 2 May 2005.

The acquisition affects 27 employees in Västfastigheter, the Region’s property management company. These employees will be offered employment within Kungsleden.

Acquisition of care and retirement home properties in Greater Stockholm

Kungsleden has also reached an agreement with Stena Fastigheter regarding the acquisition of 11 healthcare centres with a total of 37,900 square metres of lettable floor space in various suburbs of Greater Stockholm for a total purchase consideration of SEK approximately 400 million. The largest tenant is Stockholm County Council. Completion will take place on 15 April 2005.

At the same time, Kungsleden has acquired two retirement home properties from Stena Fastigheter, one in central Täby and the other in central Stockholm, as well as a development right in Täby, where the intention is to build a new retirement home. The acquisition comprised total lettable floor space of 20,900 square metres. The purchase consideration is approximately SEK 250 million.

For more information, please contact:

Jens Engwall, Kungsleden’s CEO, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden

]]>

Annual Report Kungsleden 2004

Thu, 17 Mar 2005 15:31:08 +0100

The Annual Report from Kungsleden AB (publ) is available at www.kungsleden.se.

The printed version will be distributed to shareholders during the first week in April.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande samt årsredovisningen finns tillgängliga på svenska på www.kungsleden.se

]]>

Kungsleden negotiating acquisitions

Wed, 09 Mar 2005 12:30:00 +0100

Swedish listed property company Kungsleden AB (publ) is negotiating with the Västra Götaland regional authority regarding the acquisition of approximately 33 Social services properties at a total purchase price of SEK 645 m.

The transaction is scheduled for approval by the regional estates authority on 17 March.

The 33 properties are located in 20 of the region’s total 49 municipalities and have total floor-space of around 180,000 sq.m. The floor-space is used for regional administration, primary and dental care, physiotherapy, and also includes retirement home accommodation. The rental value is about SEK 124 m, with 60% of this total sourced from the region’s own activities, and 40% from external tenants, mainly municipalities.

The intention is for all regional activities to remain in their current premises, with an ownership change, and rental contracts with the region running for a weighted average term of six years.

If the estates authority approves the transaction, the objective is to enter a binding contract by no later than 18 March, taking possession on 2 May 2005.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden acquires

Mon, 07 Mar 2005 13:38:00 +0100

The property company Kungsleden AB (publ) has aquired 25 properties located in the central parts of Karlstad from Tornet.

The acquisition price amounts to SEK 1 049 m and the yield based on the sales price is 7,75 percent. The lettable floor-space of the properties amounts to 108 000 sq.m, consisting mainly of offices and retail, and has a rental value of about SEK 125 m.

Commenting, Kungsleden Chief Executive Jens Engwall said: “We are very pleased that we in the current market situation are able to aquire this portfolio that fits well into our vision of stability in yields as well as a portfolio of highly liquid properties that holds future business opportunities.”

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Convening the Annual General Meeting of Kungsleden AB (publ)

Thu, 03 Mar 2005 08:00:00 +0100

Kungsleden AB (publ) is convening its Annual General Meeting on Thursday 7 April 2005 at 2:00 p.m. at the Skandia Cinema, Drottninggatan 82, Stockholm, Sweden. The Notice to Attend states the matters to be considered at the Annual General Meeting pursuant to the Articles of Association and:

• The Board of Directors’ proposal to the AGM to implement a 2:1 share split, through an amendment to §5 of the Articles of Association.

Regarding the election of the Board of Directors, the Nomination Committee has proposed the re-election of Jens Engwall, Mats Israelsson, Bengt Kjell, Jonas Nyrén, Anna Weiner-Jiffer and Per-Anders Ovin.

Jens Engwall

Kungsleden AB (publ)

Encl: Notice to Attend the Annual General Meeting

]]>

Kungsleden sells

Wed, 16 Feb 2005 16:28:34 +0100

The property company Kungsleden AB (publ) has in three separate deals sold the following properties:

The property Malmö Söderport 7 has been sold for MSEK 44. The property is centrally located at Gustav Adolfs torg and has a lettable area of 2 000 sq m. The property consists mainly of shops and offices.

The property Karlshamn Strömma 1 has been sold for MSEK 37,5. The property has a lettable area of 17 000 sq m of which 70 percent consists of industry/warehouse and the remaining part of offices.

The property Trelleborg Herkules 34 has been sold for MSEK 36. The property consists of 4 000 sq m lettable area, mainly offices.

The above mentioned properties sales price amounts to MSEK 117,5 and the yield based on the sales price is calculated to 5,75 %.

The sales price exceeds the book value as per 31 December 2004 with MSEK 21,5.

The sales price also exceeds the valuation which is the base for the new book value as per January 1, 2005 in accordance with the new accounting rules with MSEK 14,5. This amount will be recorded as a trading profit during the first quarter 2005.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden’s fourth quarter: profits rise

Wed, 16 Feb 2005 13:43:39 +0100

Kungsleden’s Chief Executive, Jens Engwall, said the following: “After a transaction-intensive 2004, Kungsleden is posting profit gains of 25% per share. While improving our operating surplus, we also consolidated our earnings capacity further through extensive property trading. Our returns remain high—approaching 30% on shareholders’ equity.

*Profit for calculating dividends means profit after tax excluding unrealized value changes and deferred tax, although realized value changes are included.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande och kvartalsrapporten finns tillgängliga på svenska på www.kungsleden

]]>

Kungsleden sells and changes forecast

Tue, 04 Jan 2005 08:57:42 +0100

The property company Kungsleden AB (publ) has sold four properties northeast of Stockholm. Purchaser is Fastighetspartner and the sales price amounts to SEK 282 m. The lettable floor-space of the properties amounts to 31 000 sq.m with a rental value of SEK 30 m and consists mainly of offices.

The above mentioned sales generate a profit of SEK 36 m and are reported in the figures for the fourth quarter 2004.

The company also changes its forecast for the year 2004 from profit before taxes of SEK 530 m to profit before taxes of SEK 550 m.

For further information, please contact:

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden acquires

Thu, 30 Dec 2004 11:48:11 +0100

The property company Kungsleden AB (publ) has acquired by company the retirement home properties Norrköping Konstantinopel 6 and Göteborg Näset 130:1 from Skandrenting AB and the retirement home property Arlöv 11:294 from Erik Thun AB. The acquisition price amounts to SEK 228 m including acquisition costs and the yield based on the sales price is 7,9 %.

The lettable floor-space of the properties amounts to 15 500 sq.m generating rental revenues of SEK 23,1 m including interest subsidies. The municipality generates 64 % of the rental revenues and the average contract term is 10 years.

Commenting, Kungsleden’s Chief Executive Jens Engwall said: “An acquisition of three modern retirement homes with long leases that fits well into this segment of our property portfolio.”

For further information, please contact:

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Göran Linder, Business Area Manager, Housing for the Elderly

Tel: +46 (0)8-503 052 07, Mobile: +46 (0)70-690 65 75

]]>

Kungsleden sells

Wed, 22 Dec 2004 14:31:11 +0100

The property company Kungsleden AB (publ) has sold the properties Hässleholm Ryttaren 8 & 13 and Kopparslagaren 6 for a total price of MSEK 98 generating a loss of MSEK 4.

The buyer is the local property company Norén Fastigheter.

The properties consists of approximately 16.000 sqm of lettable area with a rental value of approximately MSEK 15.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells

Mon, 20 Dec 2004 13:48:01 +0100

The property company Kungsleden AB (publ) has, in three separate transactions, sold the properties Helsingborg Fiskaren 40, Malmö Lejonet 2 and Falköping Rådmannen 1-3 for a total price of MSEK 171 with a profit of MSEK 20.

The property Fiskaren 40 is a mixed residential and commercial property with a lettable area of 1.700 sqm and a rental value of MSEK 2

The property Lejonet 2 is an office and restaurant property situated at Lilla Torg in Malmö with a lettable area of 6.000 sqm.

The property Rådamnnen 1-3 is a mixed commercial-/ office- and residential property with a lettable area of 6.800 sqm and a rental value of MSEK 5.

The yield based on the sales price is estimated at 6,1 %.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells and changes forecast

Mon, 06 Dec 2004 15:44:04 +0100

The property company Kungsleden AB (publ) has, in separate transactions, sold properties for an amount of MSEK 166 with a profit of MSEK 12. The yield based on the sales price amounts to approximately 5,4 percent.

The company also changes its forecast for the year 2004 from profit before taxes at least MSEK 500 to a profit before taxes of MSEK 530.

“The transactions is another step in lowering the risk in the property portfolio” says Jens Engwall, CEO of Kungsleden, commenting the transaction.

]]>

Kungsleden acquires

Fri, 19 Nov 2004 17:07:39 +0100

The property company Kungsleden AB (publ) has acquired 10 properties from the Bröderna Edstrand Group for MSEK 204.

The portfolio consists of properties with a lettable area of 100.000 sqm with a rental value of MSEK 23. The yield based on the purchase price is calculated at 11 %.

In connection with this deal the Bröderna Edstrand Group signs rental contracts in the properties with a rental period up to 15 years. The Bröderna Edstrand Group also has a option to require extension of one property within 4 years at a estimated investment of MSEK 30 and a yield of 10%.

“I am very pleased to close this deal with the Bröderna Edstrand Group while we get properties that complement our existing portfolio together with a good tenant” says Jens Engwall, CEO of Kungsleden, commenting the transaction.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells

Tue, 16 Nov 2004 10:13:53 +0100

The property company Kungsleden AB (publ) has sold the property Pomona 9 in Borås for MSEK 33 with a profit of MSEK 6.

The property consists of 3.300 sqm of lettable area, mainly office space, with a rental value of almost MSEK 4.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells

Wed, 10 Nov 2004 14:59:49 +0100

The property company Kungsleden AB (publ) has sold the property Väktaren 7 in Karlstad for MSEK 53 with a profit of MSEK 4.

The property consists of 6.000 sqm of lettable area, mainly office space, with a rental value of MSEK 6. The purchaser is Paritt AB.

]]>

Kungsleden acquires

Wed, 03 Nov 2004 16:09:01 +0100

The property company Kungsleden AB (publ) has acquired a property portfolio of 18 properties. The acquisition price amounts to SEK 530 m and the yield based on the sales price is 8,2 %. The lettable floor-space of the properties amounts to 80 000 sq.m.

Ahlten, Perez & Co, own by Thomas Ahlten, Christian Perez and Per Johansson Perrault, is the vendor.

The day of taking possession is set for November 15, 2004.

Kungsledens Chief Executive Jens Engwall commented: “I am very pleased with that we under the present market situation could carry through an acquisition of this diversified portfolio.”

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells

Mon, 01 Nov 2004 15:53:40 +0100

The property company Kungsleden AB (publ) has sold the property Nösund 1:176, a piece of land located on Orust with an area of about 67 hectare.

The sales price amounts to SEK 11 m generating a profit of MSEK 9 m. The purchaser is RBK Invest AB.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells

Fri, 29 Oct 2004 12:13:07 +0100

The property company Kungsleden AB (publ) has sold 3 properties in Skövde. The sales price amounts to MSEK 95 generating a profit of MSEK 8. The lettable floor-space of the property amounts to 14 000 sq.m and consists mainly of offices. The yield based on the sales price is 8,3 %.

Purchaser is Venturum Fastigheter and the Family Källsson.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden's Nomination Committee appointed

Fri, 22 Oct 2004 11:48:12 +0100

Kungsleden financial reports for the financial year 2005

Thu, 21 Oct 2004 16:10:05 +0100

Kungsleden’s third quarter: portfolio modification

Thu, 21 Oct 2004 12:44:51 +0100

Kungsleden’s Chief Executive Jens Engwall commented: “We can report profit gains after tax of 38 per cent for the first nine months of the year, the consequence of an improved operating surplus and sustained successful property trading. Meanwhile, the 18 property disposals we completed in the third quarter enhanced the risk-adjusted returns of our portfolio.”

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande och kvartalsrapporten finns tillgängliga på svenska på www.kungsleden.se

]]>

Kungsleden acquires

Fri, 15 Oct 2004 11:38:53 +0100

The property company Kungsleden AB (publ) has acquired seven properties situated in Stockholm. The acquisition price amounts to SEK 200 m. The properties lettable floor-space amounts to 36 000 sq.m, consisting mainly of retail and warehouse. The yield based on the sales price is approximately 8,5 percent.

The possession of the properties will take place on the 15 of October 2004.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden acquires retail park in Skellefteå, northern Sweden

Wed, 06 Oct 2004 11:59:02 +0100

Listed property corporation Kungsleden AB (publ) is acquiring a retail park north of Skellefteå, northern Sweden, scheduled to open in November 2005 with a total investment cost estimated at SEK 187 m. IBI Sverige AB, the Swedish subsidiary of Denmark’s IBI, is the vendor. IBI primarily pursues the development of retail real estate in the Nordic region.

Upon completion, lettable floor-space will be approximately SEK 16,700 sq.m., with tenants including major Nordic retailers such as ICA Maxi, Willys, Apoteket (the Swedish National Pharmacy Corporation) and Systembolaget, the state wine and spirit retail corporation.

The majority of contract terms are ten years. Construction is scheduled to start in September 2004, with completion in November 2005. The estimated property yield is 8.5%.

Kungsleden’s Chief Executive Jens Engwall commented: “IBI has undertaken several successful projects in Sweden, and we hope that our collaboration on this project will result in more deals.”

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells

Mon, 23 Aug 2004 12:01:57 +0100

The property company Kungsleden AB (publ) has in two separate transactions sold 11 properties in 9 cities. The sales price amounts to MSEK 135 with a loss of MSEK 2. The yield based on the sales price amounts to 7,6 percent.

The properties are situated in smaller cities and have a lettable area of 28 500 sq.m with a rental value of MSEK 21,5.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Q2 2004

Wed, 18 Aug 2004 12:00:00 +0100

]]>

Kungsleden sells

Wed, 30 Jun 2004 15:56:38 +0100

The property company Kungsleden AB (publ) has sold 15 properties in 15 cities. The sales price amounts to MSEK 255 generating a profit of MSEK 27. The yield based on the sales price is approximately 9 percent.

The lettable area of the properties amounts to 46 000 sq.m with a rental value of MSEK 25.

The purchaser is a Norweigan investment consortium arranged by Ness Risan & Partners. The properties will be administrated by Wilfast Förvaltning AB.

]]>

Kungsleden aquires

Tue, 22 Jun 2004 09:02:06 +0100

The purchase price amounts to MSEK 142 with a property yield of 7,8 %. The properties consists of 19 500 sqm of lettable area with a rental value of MSEK 16.

The deal also consists of an option for the municipality of Sundsvall to sell industrial and warehouse properties to Kungsleden at a value of MSEK 75 in case a sales contract regarding these properties will not be fulfilled with another purchaser.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells

Fri, 18 Jun 2004 13:13:39 +0100

The property company Kungsleden AB (publ) has sold the property Malmö Kupolen 2. The sales price amounts to MSEK 84 generating a profit of MSEK 14. The purchaser is Volito Fastigheter AB. The yield based on the sales price is 7,8 %.

The lettable floor-space of the property amounts to 10 000 sq.m and consists of about equal parts offices and industry/warehouse.

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden acquires retirement homes

Fri, 11 Jun 2004 14:04:57 +0100

Swedish listed property corporation Kungsleden AB (publ) has acquired 8 retirement home properties from the central Swedish Municipality of Gävle and Gavlegårdarna AB

These properties contain 491 apartments intended as retirement homes, with the majority rented by the Municipality. Their lettable floor-space amounts to 48,930 sq.m., generating rental revenues of SEK 36 m, including interest subsidies. The Municipality generates 89% of the rental revenues; the average contract term is 14 years.

The acquisition price of the properties amounts to SEK 390 m including acquisition costs.

Commenting, Kungsleden’s Chief Executive Jens Engwall said: “Another acquisition direct from a municipality that unequivocally demonstrates how we’ve become an attractive retirement homes player for local government.”

For further information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells

Thu, 10 Jun 2004 10:32:23 +0100

The property company Kungsleden AB (publ) has sold five properties in Botkyrka, Sigtuna and Södertälje. The sales price amounts to MSEK 65 generating a profit of MSEK 12. The property yield based on the sales price is 9,2 %.

The properties consist of 10 000 sqm of lettable area, mainly industrial and warehouse.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells

Fri, 04 Jun 2004 14:48:16 +0100

The property company Kungsleden AB (publ) sells 12 properties in Sollentuna to a company within the New Cap AB for a price of MSEK 412. The properties consists of 43 000 sqm of lettable area, mainly offices, has a rental value of MSEK 46. The yield based on the sales price is 7,9 %.

“I am very pleased with that we under the present market situation can close this deal. It is our ambition to decrease our investments in offices within the greater Stockholm area during this year”, says Jens Engwall CEO of Kungsleden commenting on the deal.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Anders Orrling, NewCap, tfn 08-545 132 50, mobil 070-555 30 44

]]>

Kungsleden sells

Thu, 03 Jun 2004 12:02:32 +0100

The property company Kungsleden AB (publ) has in three deals sold 9 properties in Töreboda, Skövde, Tidaholm and Malmö.

The total sales price amounts to MSEK 65. The yield calculated on the sales price is 7,9 %.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden is buying!

Fri, 28 May 2004 12:48:17 +0100

Property company Kungsleden AB (publ) acquires two retirement homes and a school from PEAB for SEK 220 m.

The retirement homes Järven 6 of 5,400 sq m and Pjäsen 12 of 6,600 sq m are located in Norrköping and Visby, Gotland. The Järven 6 property will undergo a total restoration which is expected to be completed as of 1 April, 2005 and the property will then be let to the Municipality of Norrköping on a contract that runs until 31 March, 2020. The restoration cost is included in the purchase price. Pjäsen 12 is let to the Municipality of Gotland on a contract that runs until 31 May, 2029.

Järven 5 of 3,000 sq m is let to a private school on a contract that runs until 30 June, 2018.

The total rental revenues including interest subsidies amount to SEK 21.9 m. The property yield is estimated to 8.2 %.

- Good retirement homes property running on long contracts with a municipal counterpart fit our retirement home property portfolio well, Kungsleden CEO Jens Engwall comments.

]]>

Kungsleden sells

Fri, 28 May 2004 11:07:03 +0100

The property company Kungsleden AB (publ) has sold the property Malmö Gustav Adolf 12 for a price of MSEK 55 generating a profit of MSEK 5. The property consists of approximately 3 100 sqm of offices.

The yield based on the sales price amounts to approximately 4,5 %.

]]>

Kungsleden sells

Wed, 19 May 2004 12:49:08 +0100

The property company Kungsleden AB (publ) has sold the property Botkyrka Forbonden 4 more known as Fittja centrum. The property consists of 11 000 sqm of lettable area, mainly offices and shops.

The sales price amounts to MSEK 71.

]]>

Kungsleden´s first quarter: Operating surplus SEK 232 m , + 16 %

Thu, 22 Apr 2004 13:40:41 +0100

Kungsleden’s Annual General Meeting

Thu, 01 Apr 2004 16:47:51 +0100

Kungsleden AB (publ) held its Annual General Meeting on Thursday. The Meeting approved the Board of Directors’ proposed dividends of SEK 13.00 per share. The record date was resolved at 6 April 2004, with dividends scheduled for payment from VPC (the Swedish Central Securities Depository & Clearing Organization) on 14 April 2004.

In his presentation to the Meeting, Chief Executive Jens Engwall reviewed the financial year 2003 and current market conditions.

Mr. Engwall said: “Early 2004 has been good, consolidating the prospects of realising our forecast profit before tax of SEK 500 m.”

The AGM discharged the Board members and Chief Executive from liability for the financial year 2003. Jens Engwall, Mats Israelsson, Bengt Kjell, Jonas Nyrén, Anna Weiner Jiffer and Per-Anders Ovin were re-elected to the Board, while Bengt Kjell was appointed Chairman of the Board at the Board meeting following election.

Additionally, the AGM resolved to alter the nomination process pursuant to the Nomination Committee’s proposal. The new proposal implies that in September each year, the Chairman of the Board will contact the major shareholders regarding the formation of a Nomination Committee, which will comprise three members, with the Chairman as convener. The intention is for the Nomination Committee’s members to be announced coincident with the publication of the Third-quarter Interim Report.

]]>

Kungsleden acquires 2 commercial real estates in Gothenburg

Thu, 01 Apr 2004 11:33:59 +0100

The property company Kungsleden AB (publ) has acquired Angered 94:1 (known as Angereds shopping mall) and Backa 171:1 (located in Backa retail district) in Gothenburg for a total price of 280 MSEK with an initial yield of 9%. The vendor is Diligentia.

The properties contains retails and offices with a total rentable area of 46 800 square meters of which 2 300 square meters are vacant. The possession of the properties will take place on the 1 of April 2004.

]]>

Kungsleden sells

Wed, 31 Mar 2004 15:49:25 +0100

The property company Kungsleden AB (publ) has sold the properties Malmö Vakteln 3, Vakteln 17 and Vakteln 23.

The sales price amounts to MSEK 64,5 which equals SEK 14 500/sqm. The yield on the sales price is 6 %.

Kungsleden has also sold the property Jönköping Vakten 1 for MSEK 55. The property consist of approximately 5000 sqm lettable area.

The above mentioned sales have generated a profit of MSEK 30.

]]>

Kungsleden—selling and buying

Wed, 31 Mar 2004 13:30:32 +0100

Property company Kungsleden AB (publ) is divesting 50% of the shares in Hemsö Äldreboende AB to a company related to the Catella Holding group.

Hemsö Äldreboende has a SEK 595 m retirement homes property portfolio, which generates a property yield of approximately 8.1 per cent. Kungsleden holds an option to acquire the divested shares in the period 1 December 2004 - 1 December 2006 at a predetermined price.

This transaction is being performed to increase Kungsleden’s scope for further acquisitions in the sector, which it would miss out on otherwise.

The divestiture will have no profit effect.

Additionally, Hemsö Äldreboende AB has acquired Saltsjöbaden Hospital in the Municipality of Nacka, east of Stockholm, for SEK 124 m. This property comprises some 10,000 sq m of lettable floor-space, primarily intended as retirement homes. The property yield is 7 per cent. The tenant is Carema, on a contract that runs until on 30 September 2011.

The seller is a company jointly owned by housing corporation HSB and building and civil engineering corporation Veidekke.

]]>

Kungsleden's Annual Report 2003

Wed, 24 Mar 2004 15:25:29 +0100

Kungsleden acquires housing for the elderly

Thu, 26 Feb 2004 13:17:00 +0100

The properties for housing the elderly are rented by the Municipality of Finspång as per a newly signed 20-year lease. These properties comprise 16,700 square metres and will generate rental income of SEK 15.7 million per annum. The apartment building contains 19,000 square metres and will generate rental income of SEK 12.2 million.

The purchase price of the properties amounts to SEK 191 million including acquisition costs.

The contract is conditioned by a decision of the Finspång Municipal Council.

"Good housing for the elderly with long leases fits well into this segment of our property portfolio," comments Kungsleden's CEO, Jens Engwall.

For further information, please contact:

Göran Linder, Business Area Manager, Housing for the Elderly

Tel: +46 (0)8-503 052 07, Mobile: +46 (0)70-690 65 75

]]>

Invitation to attend Kungsleden AB (publ) AGM

Thu, 26 Feb 2004 07:30:35 +0100

Invitation to attend Kungsleden AB´s (publ) AGM

Thu, 26 Feb 2004 07:30:00 +0100

The invitation to Attend states the motions of the AGM, pursuant to the Articles of Association and;

the Nomination Committeés proposal for changes in nomination procedures

The Nomination Committee has for the board of directors proposed re-selection of Jens Engwall, Mats Israelsson, Bengt Kjell, Jonas Nyrén, Anna Weiner Jiffer and Per-Anders Ovin.

Kungsleden AB (publ)

Jens Engwall

Appendix: Invitation to Attend AGM

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 052 06, mobile +46 (0)70 690 6565

]]>

Kungsleden's Financial Statement; profits increase

Tue, 17 Feb 2004 13:01:36 +0100

Kungsleden increases its Group Management Team

Thu, 15 Jan 2004 16:54:00 +0100

The type oriented business Area Retirement Homes is changed into a region and its manager, Mr Göran Linder, will take place in Kungsledens Group Management Team. Mr Lars Thagesson, presently Regional Director East, is appointed Chief Operating Officer (COO) with responsibility for all Regions within Kungsleden.

As new Regional Director East Kungsleden has appointed Mr Åke Kaur presently property manager within region East. Mr Kaur will also take place in Kungsledens Group Management Team.

After these changes, which will be in effect as of January 19, Kungsledens Group Management Team will consist of the following persons. Mr Jens Engwall CEO, Mr Johan Risberg deputy CEO and CFO, Mr Lars Thagesson COO, Mr Åke Kaur Regional Director East , Mr Benny Ivarsson Regional Director West , Mr Eskil Lindnér Regional Director South and Mr Göran Linder Regional Director Retirement Homes.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 052 06, mobile +46 (0)70 690 6565

]]>

Kungsleden financial reports for the financial year 2004

Thu, 15 Jan 2004 14:52:00 +0100

Financial Statement for 2003 February 17, 2004

Annual Report March 2004

Annual general meeting April 1, 2004

Interim Report January – March April 22, 2004

Interim Report January – June August 18, 2004

Interim Report January – September October 21, 2004

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 052 06, mobile +46 (0)70 690 6565

]]>

Kungsleden sells

Fri, 09 Jan 2004 13:33:00 +0100

Kungsleden has also sold the property Helsingborg Rådhuset 7 for 76 MSEK. The property consists of 3000 sqm lettable area.

The above mentioned sales generates a profit of 23 MSEK and is reported in the figures for the fourth quarter 2003.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells and changes forecast.

Tue, 23 Dec 2003 12:03:00 +0100

Kungsleden has also sold the property Göteborg Majorna 164:2. The property contains 6.000 sqm of lettable area of which the majority is industrial and warehouse.

The sales price amounts to MSEK 38 with a profit of MSEK 5.

As a consequence of the sales made during the fourth quarter the company changes its forecast for the year 2003 from profit before taxes of at least MSEK 450 to a profit before taxes of MSEK 475.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden to build new retirement home

Fri, 19 Dec 2003 11:38:00 +0100

The retirement home will be built during 2004/2005 with an estimated completion date in April 2005, after which it will be leased to the Municipality of Halmstad with a 20-year lease. The rent will be based on the adopted construction cost, which is estimated to be approximately SEK 50 million. Return on investment will be in line with that of Kungsleden's other retirement homes.

"The development and construction of a modern retirement home in collaboration with the Municipality of Halmstad will be an exciting project, and represents a further stage in our investment in retirement properties," comments Jens Engwall, Chief Executive of Kungsleden.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 65 50

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells

Tue, 16 Dec 2003 11:57:00 +0100

For more information, please contact:

Jens Engwall, Kungsleden’s CEO, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden aquires

Tue, 04 Nov 2003 09:00:13 +0100

Kungsleden aquires

Tue, 04 Nov 2003 09:00:00 +0100

- This is a perfect match with our business vision of high and stable long term returns coupled with high liquidity. Differently put, these properties are attractive both to hold and manage as well as for generating new transactions. Over 3/4 of the property value refers to highly central properties in Malmö and Helsingborg. In total the acquisition on an isolated basis will add some SEK 70 m to our pre-tax earnings on an annual basis, comments Jens Engwall, CEO of Kungsleden.

For more information, please contact:

Jens Engwall, Kungsleden’s CEO, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells.

Thu, 30 Oct 2003 10:27:00 +0100

The purchaser is Fastighets AB Corallen.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells and aquires.

Fri, 24 Oct 2003 16:59:00 +0100

Kungsleden has also sold the properties Falun Yttre Åsen 12 and Västra Falun 1. The sales price amounts to MSEK 102 and the purchaser is Solrosen Invest AB.

In total the above mentioned sales shows a loss of MSEK 4.

Kungsleden has also aquired a company with substantial tax losses. Through the purchase, the groups equity increases with MSEK 130 or 6,90 kr per share.

Following the purchase, Kungsleden´s taxloss carry-forward, as per September 30, 2003 are estimated to approximately MSEK 1,100.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden´s third quarter: operating surplus SEK 235 m

Fri, 24 Oct 2003 13:08:31 +0100

Kungsleden sells

Wed, 15 Oct 2003 14:17:00 +0100

The sales price amounts to MSEK 83 generating a profit of MSEK 20 which will be shown in the figures for the fourth quarter.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells

Fri, 03 Oct 2003 12:17:00 +0100

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden´s first half-year: stable cash flows

Fri, 15 Aug 2003 08:00:15 +0100

Kungsleden aquires

Fri, 04 Jul 2003 11:49:05 +0100

Kungsleden aquires

Fri, 04 Jul 2003 11:49:00 +0100

The property consists of 36 apartments for elderly living and is let to Care Partner AB. The rental contract expires 2005-11-30. The property has an area of 2.047 sqm and a rental income of 3,6 MSEK per year including interest subsidies.

The purchase price is 37,1 MSEK including transaction costs.

"A modern property which fits well in our existing portfolio of properties for elderly living" says Jens Engwall , CEO of Kungsleden, commenting on the transaction.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden aquires

Thu, 03 Jul 2003 11:24:00 +0100

The property consists of 76 apartments for elderly living and is let to Riksbyggen Serviceboende AB and the municipality of Gothenburg. The property has an area of 6.350 sqm and a rental income of 5 MSEK per year.

The purchase price is 40,2 MSEK including transaction costs.

"A purchase with high return relative to the low risk, which is in line with our earlier stated ambitions in the sector of houses for elderly living" says Jens Engwall , CEO of Kungsleden, commenting on the transaction.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells

Wed, 02 Jul 2003 10:08:00 +0100

The property which consists of 3.000 sqm of offices has been sold for 28 MSEK whith a profit of 1 MSEK.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s COO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden acquires 17 warehouse properties

Fri, 27 Jun 2003 13:12:00 +0100

The vendor is Ashtenne Holdings PLC, listed on the London stock exchange. Kungsleden will take possession of the properties on the 1 of September 2003.

Of the purchase price 80% is located in growing major cities. The majority of these properties are concentrated in the south and the center of Sweden.

All the properties are rented by SELGA group on long term leases with the rental income of 27,7 MSEK per annum.

The properties contains warehouses and offices with a total area of 51.373 sqm.

" The properties fits into Kungsledens portfolio of high yielding properties with good liquidity and a stabile tenant on long term basis", says Jens Engwall, CEO of Kungsleden, commenting on the transactions.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

]]>

Kungsleden sells

Fri, 13 Jun 2003 14:10:00 +0100

The properties which consists of 10 000 sqm of offices and warehouse has been sold for 69 MSEK with a profit of 7 MSEK.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 052 04, mobile +46 (0)70 690 65 50

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 052 06, mobile +46 (0)70 690 65 65

]]>

Kungsleden acquires house for elderly living !

Thu, 05 Jun 2003 08:44:00 +0100

The property is rented by the municipality of Norrköping and contains 66 apartments used for elderly living. The business will even in the future be operated by A&O Ansvar och Omsorg AB. The property contains 3 600 sqm with a rental income of MSEK 3,7.

The purchase price is MSEK 34,3 including transactions costs.

- The result of our efforts on the market for elderly living has been very positive. In the near future we expect further acquisition opportunities from both the private and the public sector. It is interesting that also a number of municipalities are considering selling some of their owned houses for elderly living, comment the CEO of Kungsleden, Jens Engwall.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s COO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden#s first quarter: Operating surplus SEK 200 m

Wed, 23 Apr 2003 12:17:04 +0100

Kungsleden: Annual General Meeting

Thu, 10 Apr 2003 18:07:00 +0100

In his statement to the Meeting, Chief Executive Jens Engwall reviewed operations in the financial year 2002 and described current market conditions. The market for property acquisitions and disposals has been healthy in early 2003, with a series of positive transactions. Mr. Engwall also commented on Kungsleden’s business in sheltered accommodation for senior citizens, which progressed well; he also highlighted his perception of a series of attractive business opportunities in this segment in the remainder of 2003.

The AGM discharged the Board members and Chief Executive from liability for the financial year 2002. Jens Engwall, Mats Israelsson, Bengt Kjell and Jonas Nyrén were re-elected as Board members and Anna Weiner Jiffer and Per-Anders Ovin were elected as Board members. Bengt Kjell was appointed Chairman of the Board at the subsequent Board meeting following election.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se

]]>

Kungsleden sells

Wed, 09 Apr 2003 14:26:00 +0100

During the second quarter the properties Luleå Braxen 1 and Sollefteå Färgaren 3 and Källaren 3 has been sold for MSEK 89 with a profit of MSEK 10 before sales administration.

"It is positive to see that the sales during the beginning of 2003 are continuing at god levels and that transactions are made within all property categories and geographical markets" says Jens Engwall, CEO of Kunglseden, commenting on the transactions.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se

]]>

Kungsleden acquires

Mon, 24 Mar 2003 13:43:00 +0100

The properties Anisen 2, Gasmätaren 2 and Gasmätaren 3 contents industrial-, office- and retailproperties with an area of approximately 19.600 sqm with an annual rental income of MSEK 15,2. The initial yield is 9,5 %. The day of taking possession is set for April 1, 2003.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se

]]>

Kungsleden’s Annual Report 2002

Wed, 19 Mar 2003 13:03:00 +0100

The printed version is planned to be distributed to the shareholders and other interests in the end of week 12.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se

]]>

Invitation to attend Kungsleden AB´s (publ) AGM

Thu, 06 Mar 2003 08:00:00 +0100

A proposal from shareholder Sveriges Aktiesparares Riksförbund regarding assigning the Board of Directors to appoint a Renumeration Committee,

A proposal regarding assigning the Board of Directors to appoint an Audit Committee.

The Nomination Committee has proposed re-selection of Jens Engwall, Mats Israelsson, Bengt Kjell and Jonas Nyrén, the election of Anna Weiner Jiffer and Per-Anders Ovin. Jockum Beck-Friis and Ole Oftedal have denied re-appointment.

Jens Engwall

Kungsleden AB (publ)

Appendix: Invitation to Attend AGM

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande och bokslutskommunikén finns tillgängliga på svenska på www.kungsleden.se

]]>

Financial Statement 1 January-31 December 2002

Thu, 20 Feb 2003 07:01:27 +0100

Kungsleden’s Financial Statement: another record!

Thu, 20 Feb 2003 07:01:00 +0100

Kungsleden published its Financial Statement for 2002 today.

Jens Engwall, Kungsleden’s CEO, made the following comment: "That’s yet another record year for Kungsleden. Our property portfolio now extends to over SEK 10.1 billion, and our profit before tax was up 19 per cent to SEK 450 m. We disposed of 67 properties in the year for SEK 880 m, generating profits of SEK 136 m, while simultaneously, acquiring SEK 1,289 m-worth of properties. These acquisitions were effected at a property yield of 8.7 per cent, and the disposals, at a property yield of 6.5 per cent measured in terms of sales value. We almost doubled our investments in retirement homes in the year, which now constitute nearly 22 per cent of the value of our holding." 2002 was a year when Kungsleden proved that its business model worked even in tougher times, as is particularly evident in its property disposals and low vacancies. "Moreover", continued Mr Engwall, "our retirement homes initiative has given us the opportunity to secure high and stable returns, which after all, is our business concept."

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

Detta pressmeddelande och bokslutskommunikén finns tillgängliga på svenska på www.kungsleden.se

]]>

Kungsleden acquires house for elderly living

Thu, 23 Jan 2003 11:27:00 +0100

The property is used for elderly living and is let to the municipality on a 20 year lease period. The property is totally rebuilt and refurbished during 2002 and contains 7000 sqm of modern elderly living with a yearly income including interest subsidy, of MSEK 11,8.

The purchase price is MSEK 130.

The result of our efforts on the market for elderly living has been very positive. To be able to acquire another modern property for elderly living with a strong tenant on a long lease strengthens the low risk without lowering the yield goal that we have in our elderly living portfolio, says Jens Engwall, CEO of Kungsleden.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden financial reports year 2003

Tue, 07 Jan 2003 15:53:29 +0100

Kungsleden financial reports for the financial year 2003

Tue, 07 Jan 2003 15:53:00 +0100

Financial Statement for 2002 February 20, 2003

Annual Report March 2003

Annual general meeting April 10, 2003

Interim Report January - March April 23, 2003

Interim Report January – June August 15, 2003

Interim Report January – September October 24, 2003

For more information, please contact:

Johan Risberg, Deputy Chief Executive, tel: +46 (0)8 503 05206, mobile: +46 (0)70 690 6565

]]>

Kungsleden acquires Bokbacken, becomes Sweden’s biggest player in retirement homes

Fri, 20 Dec 2002 14:39:00 +0100

Kungsleden today signed an agreement on the acquisition of 72% of the shares in Bokbacken Fastigheter AB, with its holding of 19 properties with a total property value of SEK 765 m. Two-thirds of aggregate property value is located in Greater Stockholm and the remainder in Linköping, Gothenburg and Malmo. The deal also includes two properties under construction in Skarpnäck and Vallentuna, near Stockholm, whose total project cost is SEK 96 m, scheduled for completion in autumn 2003.

After completion of the two units currently under construction, Bokbacken’s properties are expected to generate a property yield of 7.8%. All properties are fully let, with Actica Omsorg generating 50% of rental revenues; municipalities and county councils provide 37%. On average, rental contracts have a remaining term of some six years.

Retirement homes generate sustainable high property yields

Retirement homes—with their long-term rental contracts to stable tenants such as municipalities and with good mortgaging potential—are well suited to Kungsleden’s strategy of generating high, stable, sustainable returns. Kungsleden began its retirement homes initiative in late 2001 through the acquisition of 15 properties with an aggregate value of some SEK 1.1 bn and has acquired a further 18 properties since, with an aggregate property value of approximately SEK 460 m, through an enterprise jointly owned with Catella.

Kungsleden’s retirement homes initiative is managed by a separate organisation within its subsidiary Hemsö AB.

Jens Engwall, Kungsleden’s Chief Executive, commented on the acquisition:

"You seldom find the attractive combination of high returns, long rental contracts and stable tenants in segments other than retirement homes. Moreover, we anticipate robust growth here, and foresee substantial opportunities for a player like Hemsö to secure its position as a specialised, skilled and long-term retirement homes landlord. At Kungsleden, we still perceive opportunities for growth within retirement homes, either on our own, or alongside other players."

Municipalities as tenants

Retirement homes is the collective term for the Swedish reform popularly entitled "your own room in sheltered accommodation", i.e. the type of housing that municipalities are obliged to offer the elderly who need specific support through special forms of housing stipulated in Swedish social services legislation. Mainly, Hemsö’s tenants are various municipalities that subsequently rent the majority of floor-space to various care operators and private individuals.

The market leader with SEK 2.4 bn-worth of property

Subsequent to the acquisition of 72% of Bokbacken and including the holding jointly held with Catella, Hemsö is responsible for 52 properties in growth regions with an aggregate property value of over SEK 2.4 bn.

In total, the market for retirement home properties is estimated at approx. SEK 100 bn. Hemsö’s estimated market share is some 2%, which makes it easily Sweden’s market leader, conferring a secure position for enhancing its collaboration with the country’s municipalities and other care operators in existing and new facilities.

Some 45% of the aggregate portfolio is located in greater Stockholm, with 20% in Malmo and Lund. All properties are fully let to stable tenants, three-quarters of which are municipalities and county councils. On average, rental contracts have a remaining term of some 7.8 years. Overall, Hemsö’s portfolio will generate estimated rental revenues of approximately SEK 240 m and SEK 10 m interest subsidies in 2003, with a property yield of some 8.1%.

Geographical split Split of rental revenues

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s COO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells

Mon, 25 Nov 2002 14:53:00 +0100

The sales price amounts to SEK 97,5 million with a profit of SEK 10 million. The divestments are made on a property yield of 7,7 %.

As we said earlier we believe in high activities in transactions during Q4, says Jens Engwall, CEO of Kungsleden, commenting on the transactions.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s COO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells and let

Fri, 15 Nov 2002 12:06:00 +0100

The employment office in Eskilstuna, has rent 4000 sqm office from Kungsleden. The tenant is moving in by the end of year 2003 after a bigger reconstruction.

The premises has been empty since Kungsleden acquires the property from the Savings Bank in 1998.

- As we sad earlier we belive in a high activites in transaction during Q4 2002, says Jens Engwall, CEO of Kungsleden, commenting on the transactions.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

]]>

Kungsleden acquires 10 and sells one

Thu, 31 Oct 2002 13:35:00 +0100

The properties are used for elderly living and contains 13 tsqm with a rental income of SEK 17,5 million. The average length of rental contracts is 8 years and 88 % of rental income comes from the municipality of Malmö. The purchase price is SEK 192 million with an initial yield of 8 %.

Kungsleden has also sold the property Stockholm Stenskärven 8 located in Vinsta. The property, which contains 9.700 sqm of offices, was sold for SEK 35 million which generated a loss of SEK 5 million.

- The presented deals is another step in our ambition to strengthen the yield while lowering the risk in the property portfolio, says Jens Engwall, CEO of Kungsleden, commenting on the transactions.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s COO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden sells

Fri, 25 Oct 2002 13:01:00 +0100

The total sales price amounts to SEK 58,7million with a profit of SEK 11 million.

The divestments are made on a property yield of 8,5 %.

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s COO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden AB (publ) Interim Report January-September 2002

Wed, 23 Oct 2002 12:41:36 +0100

Kungsleden Sells and make one acquisitions

Tue, 08 Oct 2002 13:19:00 +0100

In early October two properties in Malmö, Vildanden 7 and 8, has been sold for a total price of SEK 59 million with a profit of SEK 8 million.

The yield is 9% on sales price.

The transaction will be booked in the fourth quarter.

Kungsleden have also acquired a property in Hässleholm, Mården 7, for a total price of SEK 50 million. The property is an office- and retailproperty with an area of approximately 6.000 sqm and rental income of SEK 7,7 million.

The initial yield is 11%.

For further information, contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Kungsleden’s CFO, tel: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

]]>

Kungsleden's first half-year-profit gains continue

Thu, 15 Aug 2002 13:09:31 +0100

Kungsleden rebuilds the market-hall in Uppsala

Fri, 24 May 2002 10:05:00 +0100

– "The main reason why Kungsleden will rebuild the market-hall is our tenants strong will to make a good market-hall even better and the citizens and municipalitys positive engagement" says Jens Engwall, CEO of Kungsleden.

For further information, contact:

Gunnar Larsson, Real Estate Manager,Regional office East, tel:+46 (0)8 503 05238, mobile:+46 (0)70 690 6557

Åke Kaur, Chief of Management, Regional office East, tel: +46 (0)8 503 05217, mobile: +46 (0)70 690 6556

]]>

Kungsleden Sells in Nyköping

Thu, 16 May 2002 16:36:00 +0100

The sale generated a smaller profit.

The new owner is Björksund Förvaltnings AB.

The day of taking possession is set for June 14, 2002.

For further information, contact:

Jens Engwall, CEO, Kungsleden, tel +46 (0)8-503 052 04, mobile +46 (0)70-690 65 50

Nils G Mörner, CEO, Björksund Förvaltnings AB, tel +46 (0)155-26 14 10, mobile +46 (0)70-635 09 09

]]>

New investments in housing for the elderly – Kungsleden to acquire more properties in partly owned company

Fri, 26 Apr 2002 14:36:00 +0100

"Housing for the elderly is a growth market offering major opportunities. In 2001, we acquired a portfolio of housing for the elderly for approximately SEK 1.2 billion. Within the company that we own jointly with Pilen, we acquired two properties earlier this week. We have now increased our holding with a further seven attractive properties that have stable tenants and long-term rental contracts," says Jens Engwall, CEO of Kungsleden.

For further information, contact:

Jens Engwall, CEO, Kungsleden, tel +46 (0)8-503 052 04, mobile +46 (0)70-690 65 50

Göran Linder, Business Area Manager, Housing for the Elderly, tel +46 (0)8-503 052 07, mobile +46 (0)70-690 65 75

Johan Risberg, Deputy CEO, Kungsleden, tel +46 (0)8-503 052 06, mobile +46 (0)70-690 65 65

]]>

Kungsleden continues its focus on housing for elderly – acquires two properties in part-owned company

Wed, 24 Apr 2002 10:57:00 +0100

In keeping with this, Kungsleden is now forming a jointly owned company with Pilen AB, a company closely associated with Catella Holding. Kungsleden is entitled to acquire Pilen’s holding in the new company. In the long term, the partners in the company may be extended further.

Kungsleden and Pilen have undertaken to invest as much as SEK 50 M each in risk capital in the new company.

The new company has also acquired two properties to be used as residential facilities for the elderly. The properties acquired are Norra Sjukhuset 1 in Lund, with floor space totalling 14,000 m2, for a price of SEK 110 M, and the Luthagen 81:1 property in Uppsala, with floor space of 2,740 m2 for a total of SEK 42 M. The acquisitions were affected at an estimated direct yield of 8.3 per cent. The tenants are the local municipalities concerned.

"Housing for the elderly is a growth market offering major opportunities. Through the formation of the jointly owned company, our expansion within Housing for the Elderly can be conducted more rapidly than would otherwise be possible. Kungsleden acquired a portfolio of properties for housing for the elderly during 2001 for approximately SEK 1.2 billion. This ownership is now being extended through the acquisition via the jointly owned company of two attractive properties, with stable tenants and long-term rental contracts," says Jens Engwall, CEO of Kungsleden.

For further information, contact:

Jens Engwall, CEO, Kungsleden, tel +46 (0)8-503 052 04, mobile +46 (0)70-690 65 50

Göran Linder, Business Area Manager, Housing for the Elderly, tel +46 (0)8-503 052 07, mobile +46 (0)70-690 65 75

Johan Risberg, Deputy CEO, Kungsleden, tel +46 (0)8-503 052 06, mobile +46 (0)70-690 65 65

]]>

Kungsleden’s first quarter:

Tue, 23 Apr 2002 12:50:00 +0100

- Pretax profit increased by 74 per cent till SEK 129 M (74), corresponding to pretax profit per share of SEK 6.80 (3.90).

- Operating surplus increased by 31 per cent to SEK 190 M (144).

- During the period, 15 properties were divested for a total of SEK 240 M, generating a gain of SEK 36 M (2).

- Forecast of pretax profit of SEK 450 M for the fiscal year 2002 remains unchanged.

- "Profits for the first quarter matched our expectations. The preceding year’s acquisitions and divestments, as well as excellent management efforts, are the primary reasons for the earnings figures. We continue to take a positive view of the market trend, in which the major interest shown by foreign investors is a very exciting feature," comments Jens Engwall, Chief Executive Officer of Kungsleden.

For further information, contact:

Jens Engwall, CEO, Kungsleden, tel +46 (0)8-503 052 04, mobile +46 (0)70-690 65 50

Johan Risberg, Deputy CEO, Kungsleden, tel +46 (0)8-503 052 06, mobile +46 (0)70-690 65 65

]]>

Kungsleden: Annual General Meeting

Tue, 09 Apr 2002 18:02:00 +0100

In his statement to the Meeting, Chief Executive Jens Engwall reviewed operations in the financial year 2001 and described current market conditions. The market for property acquisitions and disposals has been healthy in early 2002, with a series of positive transactions. Mr. Engwall also commented on Kungsleden’s business in sheltered accommodation for senior citizens, which progressed well; he also highlighted his perception of a series of attractive business opportunities in this segment in the remainder of 2002.

The AGM discharged the Board members and Chief Executive from liability for the financial year 2001. Jockum Beck-Friis, Jens Engwall, Mats Israelsson, Bengt Kjell, Jonas Nyren and Ole Oftedal were re-elected as Board members; Bengt Kjell was appointed Chairman of the Board at the subsequent Board meeting following election.

For more information, please contact:

Jens Engwall, Kungsleden’s CEO, tel: +46 (0)8 503 05204, mobile: +46 (0)70 690 6550

Johan Risberg, Kungsleden’s COO, tel: +46 (0)8 503 05206, mobile: +46 (0)70 690 6565

]]>

Kungsleden’s Annual Report 2001

Wed, 13 Mar 2002 16:29:00 +0100

The printed version is planned to be distributed to the shareholders and other interests in the end of week 11.

For more information, please contact:

Jens Engwall, Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 65 50

Johan Risberg, Deputy Chief Executive, tel: +46 (0)8 503 05206, mobile: +46 (0)70 690 65 65

]]>

Kungsleden sells in among others Säffle, Åmål, Vimmerby and Lund

Wed, 13 Mar 2002 11:55:00 +0100

The largest sale amounting to SEK 198 million is the property Lyckebacken 1 in Lund, an industrial property with land and building rights.

The other properties have been sold piecemeal as part of Kungsleden´s ordinary business. The sale of the 10 poperties generated a profit of SEK 35 million before sales administration.

"The market for buying and selling properties has been good for the first months of this year" says Jens Engwall, Kungsleden’s Chief Executive Officer.

For more information, please contact:

Jens Engwall, Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 65 50

Johan Risberg, Deputy Chief Executive, tel: +46 (0)8 503 05206, mobile: +46 (0)70 690 65 65

]]>

Invitation to attend Kungsleden AB’s (publ) AGM

Mon, 04 Mar 2002 09:33:00 +0100

- A proposal from shareholder Tomas Huynh concerning an amendment to the Articles of Association regarding the nominal value of shares (a share split);

- Appointment of members of the Nomination Committee.

The Nomination Committee has proposed the re-selection of the following Board members:

Jockum Beck-Friis, Jens Engwall, Mats Israelsson, Bengt Kjell, Jonas Nyrén and Ole Oftedal.

Jens Engwall

Kungsleden AB (publ)

Appendix: Invitation to Attend AGM

For more information, please contact:

Jens Engwall, Kungsleden’s Chief Executive, tel: +46 (0)8 503 05204, mobile: +46 (0)70 690 6550

]]>

Kungsleden's year-end report: Yet another record!

Tue, 19 Feb 2002 15:35:27 +0100

Kungsleden financial reports for the financial year 2002

Tue, 15 Jan 2002 13:26:00 +0100

Financial Statement for 2001 February 19, 2002

Annual Report March 2002

Annual general meeting April 9, 2002

Interim Report January - March April 23, 2002

Interim Report January – June August 15, 2002

Interim Report January – September October 23, 2002

For more information, please contact:

Johan Risberg, Deputy Chief Executive, tel: +46 (0)8 503 05206, mobile: +46 (0)70 690 6565

]]>

Kungsleden makes one acquisitions and sells nine

Thu, 27 Dec 2001 09:31:00 +0100

The property is a modern logistic property of 11,400m2 and the most part are let to the American company Ingran-Micro.

The initial yield is 12%.

Kungsleden have also in piecemeal transactions sold properties among others in Älghult, Gränna, Klippan, Bollsta, Avesta and Odensbacken for a total price of SEK 21 million with a profit of SEK 2 million.

"This is a good end of a good year", says Jens Engwall, Managing Director of Kungsleden, commenting on the transactions.

For more information, please contact:

Jens Engwall, Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Deputy Chief Executive, tel: +46 (0)8 503 05206, mobile: +46 (0)70 690 6565

]]>

Kungsleden makes acquisitions in Lund

Fri, 21 Dec 2001 15:36:00 +0100

The property is an industry- and warehouse building of 70,000m2.

The purchase price is SEK 85 million and the initial property yield after property administration is 11%.

For more information, please contact:

Jens Engwall, Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

]]>

Kungsleden Sells in Göteborg

Thu, 20 Dec 2001 12:33:00 +0100

The day of taking possession is set for April 2, 2002.

The result is SEK 10 million.

For more information, please contact:

Jens Engwall, Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

]]>

Kungsleden Sells in Örebro

Wed, 19 Dec 2001 15:39:00 +0100

The property are mixed between office-, industri- and warehouse.

The result is SEK 6 million.

For more information, please contact:

Jens Engwall, Chief Executive,

tel: +46 (0)8 503 05204,

mobile +46 (0)70 690 6550

]]>

Kungsleden Sells in Helsingborg

Mon, 17 Dec 2001 13:18:00 +0100

The sale is made at a yield of 8 % before property administration and with a result of SEK 13 million.

The day of taking possession is set for January 14, 2002.

For more information, please contact:

Jens Engwall, Chief Executive,

tel: +46 (0)8 503 05204,

mobile +46 (0)70 690 6550

Johan Risberg, Deputy Chief Executive,

tel: +46 (0)8 503 05206,

mobile: +46 (0)70 690 6565

]]>

Kungsleden makes acquisitions

Thu, 06 Dec 2001 09:22:00 +0100

The majority of these properties, priced at approximately SEK 300 m, are located in Malmö and consist of office and warehouse premises at Jägersro and Fosie; the remaining properties are located in Gothenburg and Västerås. The initial property yield after property administration exceeds the company’s financial target of 8.5%.

The vendors are Skandia and Fastighetsrenting.

Kungsleden will take possession of the majority of the properties on 1 February 2002.

Jens Engwall, Kungsleden's Chief Executive, commented on the transaction: "This high-quality holding consolidates our position in Malmö, while some of the properties are suitable for onward sale."

For more information, please contact:

Jens Engwall, Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

]]>

Kungsleden makes acquisitions

Fri, 16 Nov 2001 13:54:00 +0100

This deal is being executed at a property yield of 9.1% after property administration.

The properties comprise over 32,000m2, primarily consisting of retail and care premises, as well as housing. They are centrally located in the municipalities of Lindome, Mölnlycke, Landvetter, Hindås, Hallsås and Floda, accommodating services premises such as care centres, welfare management facilities, retail units and housing.

Förbo AB, owned by the municipalities of Lerum, Härryda, Mölndal and Kungälv, is the vendor.

Kungsleden will take possession on 1 December.

For more information, please contact:

Jens Engwall, Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Deputy Chief Executive, tel: +46 (0)8 503 05206, mobile: +46 (0)70 690 6565

]]>

Kungsleden forthcoming financial reports for the financial year 2001

Fri, 26 Oct 2001 17:45:46 +0100

Kungsleden forthcoming financial reports for the financial year 2001

Fri, 26 Oct 2001 17:45:00 +0100

- The Financial Statement for year 2001 will be published on 19 February 2002

- The Annual Report for year 2001 will be published in March 2002

- The Annual Shareholders Meeting will be held April 9th 2002

- Timeschedule for interims report Q1, Q2 and Q3 2002 will be presented early 2002.

For more information, please contact:

Johan Risberg, Deputy Chief Executive, tel: +46 (0)8 503 05206, mobile: +46 (0)70 690 6565

]]>

Kungsleden sells in Haninge and Trollhättan

Thu, 25 Oct 2001 10:46:11 +0100

Kungsleden sells in Haninge and Trollhättan

Thu, 25 Oct 2001 10:46:00 +0100

Jens Engwall, Kungsleden’s Chief Executive, commented: "The affairs is a step in structuring the property holdings."

For more information, please contact:

Jens Engwall, Chief Executive, tel: +46 (0)8 503 05204, mobile: +46 (0)70 690 6550

]]>

Kungsleden (publ) interim report 1 January - 30 September 2001

Wed, 24 Oct 2001 13:46:38 +0100

Kungsleden sells property in Örebro

Fri, 05 Oct 2001 12:51:00 +0100

For more information, please contact:

Johan Risberg, Deputy Chief Executive, tel: +46 (0)8 503 05206, mobile: +46 (0)70 690 6565

]]>

Kungsleden signs rental contract with Jacobson & Widmark AB (J&W)

Mon, 24 Sep 2001 15:33:00 +0100

Kungsleden acquired these premises, located in Gothenburg's Gamlestaden district, from SKF at the beginning of 2001.

J&W, which currently rents some 5000 sq.m. of the property, is now co-locating its activities in Gothenburg’s old town quarter. The new rental agreement, which encompasses some 2,500 sq.m., will mean J&W renting a total of 7,500 sq.m. of this property.

The presently unoccupied industrial premises will be converted to offices, and are scheduled for occupation in summer 2002. After this conversion, the property will be fully let.

Jens Engwall, Kungsleden’s Chief Executive, commented: "J&W is a major player in expert technical consulting services, and makes high demands on attractive premises with good functional and environmental characteristics. Our agreement underscores the fact that Kungsleden’s properties in Gothenburg old town have raised their status as a favorable and attractive office location in the city."

For more information, please contact:

Jens Engwall, Chief Executive, tel: +46 (0)8 503 05204, mobile: +46 (0)70 690 6550

]]>

Kungsleden sells properties and upgrades forecast

Wed, 22 Aug 2001 17:20:00 +0100

As a result of these sales, Kungsleden is increasing its forecast regarding full-year profit after paid taxes from SEK 330 million to SEK 360 million, corresponding to SEK 19 per share.

"This is a good start to the autumn that encourages us to continue to engage in both the purchase and sale of properties", says Jens Engwall, Managing Director of Kungsleden, commenting on the transactions.

For more information, please contact:

Jens Engwall, Chief Executive, tel: +46 (0)8 503 05204, mobile +46 (0)70 690 6550

Johan Risberg, Deputy Chief Executive, tel: +46 (0)8 503 05206, mobile: +46 (0)70 690 6565

]]>

Kungsleden AB (publ) Interim Report 1 January - 30 June 2001

Fri, 17 Aug 2001 14:03:39 +0100

Kungsleden AB (publ) Interim Report

Thu, 16 Aug 2001 15:24:36 +0100

Sustained brisk progress - Kungsleden Interim Report January - June 2001

Thu, 16 Aug 2001 15:06:36 +0100

Annual Report 2000

Fri, 23 Mar 2001 10:55:57 +0100

Annual report -99

Tue, 11 Apr 2000 19:21:02 +0100

Sale and new issue in Kungsleden AB concluded

Thu, 01 Apr 1999 13:00:00 +0100

The sale and new issue of shares in Kungsleden AB (publ) ("Kungsleden") is concluded. A total of 5,758,620 shares were acquired, corresponding to about 31 percent of the total number of shares 1) in Kungsleden, by institutional investors in Sweden and abroad and the general public in Sweden. The shares include both outstanding and newly issued shares.

An additional maximum of 300,000 shares could be newly issued in conjunction with the offering as a result of over-allotment.

The selling price for the Kungsleden share determined through a book-building procedure was set at SEK 66. The total volume of the offering amounts to SEK 380m1.

The offering was subscribed about 2 times. Among those allotted shares were about 70 Swedish and international institutions. SPP will be the largest individual shareholder with 20 percent1 of the votes and capital.

Listing of the shares on the O-List of the Stockholm Stock Exchange is expected from and including April 14, 1999. Payment for the allotted shares must be made not later than April 13, 1999.

Alfred Berg and Swedbank Markets are managers for the offer.

Kungsleden AB (publ)

Board of directors

For further information, contact:

Kungsleden AB

Lars V. Kylberg, Board Chairman, +46 70 589 31 77

Jens Engvall, CEO, +46 8 503 052 04

Alfred Berg Fondkommission AB

Tom Wikström, +46 8 723 60 20

Swedbank Markets

Peter Birke, +46 8 585 925

]]>

Listing of Kungsleden AB

Fri, 12 Mar 1999 12:00:00 +0100

Listing of Kungsleden AB

Fri, 12 Mar 1999 12:00:00 +0100

The Offer is for 5,758,620 shares, corresponding to 31 percent of the share capital and voting rights in Kungsleden. The shares include both outstanding and newly issued shares and will be offered to institutional investors in and outside Sweden as well as the general public in Sweden. After the Offer is implemented, the number of shares in Kungsleden will amount to a maximum of 18,558,620.

The Offer price will be determined through a book-building procedure among institutional investors. The price interval has been set at SEK 64-72 per share. The Offer price per share in Kungsleden will be the same for all categories of investors.

The Swedish prospectus will be published on March 15, 1999. The book-building period for institutional investors begins on March 19, 1999 and ends on March 31, 1999. The final Offer price will be announced on or about April 1, 1999. It is anticipated that the share will be quoted on the O-List of the Stockholm Stock Exchange on or about April 14, 1999.

Alfred Berg and Swedbank Markets are joint leading Managers for the Offer.

Preliminary schedule

- March 15 Prospectus published

- March 18-31 Application period, public

- March 19-31 Book-building period, institutions

- April 1 Final Offer price announced

- April 13 Settlement date

- April 14 Estimated first day of quoting on O-List

Kungsleden

Kungsleden specialises in structuring heterogeneous property portfolios. The company is a transaction-intensive real estate company whose goal is to generate a higher visible yield than companies active in property management.

The company’s two main focuses are property management and trading. Kungsleden views property yield as the most central measurement, more important than property type and geographical location. Kungsleden does not have any prioritised communities or geographical markets. It is active in that segment of the market in which high yield can be achieved at limited portfolio risk, although mainly in central and southern Sweden. Moreover, Kungsleden does not pursue any volume goals, but works on a basis of profitability goals.

As of February 17, 1999 the real estate portfolio comprised 656 properties with a total book value pro forma 1998 of SEK 5,390m and a total lettable area of 1,345,000 sq. m. The rental value pro forma 1998 amounted to SEK 858m, of which office and retail properties accounted for 65 per cent, industrial and warehouse properties 19 per cent and other properties 16 per cent. Rental revenue pro forma 1998 amounted to SEK 757m and the revenue-based occupancy rate was 90 per cent. Operating surplus amounted to SEK 431m pro forma 1998, which corresponds to a yield of 8.0 per cent. The portfolio comprises solely Swedish properties and is geographically concentrated to central and southern Sweden.

Kungsleden was formed in 1993 as holding company for properties taken over to protect claims within the Government-owned Retriva Group to manage the properties and property mortgages of the former Gota Bank. During the period through December 1997, when Kungsleden was divested from the then Government owners, Agilia Holding AB, to a number of institutional investors, most of the property holdings were divested. Approximately 800 properties valued at about SEK 4,600m were divested during 1996-97. In conjunction with the ownership change, the business concept was changed from divestment to owning and managing properties with the focus on long-term high and stable yield.

After the ownership transfer, the transaction intensity remained high. The largest holdings acquired were FöreningsSparbanken’s and SEB’s branch properties (41 per cent of book value pro forma 1998) and commercial properties in southern Sweden from JM Byggnads och Fastighets AB (23 per cent of book value pro forma 1998).

Kungsleden’s goal is that return on shareholders’ equity shall be a minimum of 15 per cent and yield on the property portfolio shall exceed 8.5 per cent. Equity/assets ratio shall amount to 25 per cent and short term may not be less than 20 per cent. In addition, Kungsleden intends that the dividend payout shall amount to at least 50 per cent of profit after taxes including capital gains.

Kungsleden’s overall goal is to create a competitive return for the shareholders. Kungsleden foresees favourable possibilities to create growth in earnings, cash flow and property values in the years immediately ahead by continuing to participate in structural transactions on the Swedish real estate market and, consequently, represent an attractive complement to the real estate companies currently listed on the Stockholm Stock Exchange.

Kungsleden AB (publ)

Board of Directors

For further information:

Kungsleden AB

Lars V. Kylberg, Board Chairman, +46 (0)70-589 3177

Jens Engwall, CEO, +46 (0)8 503 052 00

Alfred Berg Fondkommission AB

Tom Wikström, +46 (0)8 723 6020.

Swedbank Markets

Peter Birke, +46 (0)8 585 925 83

]]>