Kungsleden sells and changes forecast
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.
* 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’.