Kungsleden sells and changes forecast
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.
* 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 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