High transaction levels contribute to healthy profits in 2006
• 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