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    Klövern AB (publ)  377  0 Kommentare Interim Report January - September 2014

    Income increased by 14 per cent to SEK 1,863 million (1,630).

    The operating surplus increased by 20 per cent to SEK 1,238 million (1,033).

    Profit from property management increased by 25 per cent to SEK 594 million (476).

    Changes in value of properties amounted to SEK 880 million (-96), of derivatives to SEK -424 million (345) and share of profits in associated companies amounted to SEK -79 million (3).

    Net profit amounted to SEK 892 million (632), corresponding to SEK 4.46 (2.96) per common share.

    Taking possession of 14 properties for SEK 4,183 million and sale of 10 properties for SEK 389 million.

    The Board of directors of Klövern has called for an extraordinary general meeting on 22 October 2014 at which the agenda will include resolutions regarding the introduction of class B common shares through a bonus issue and authorization for the board to decide on new issues of preference shares.

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    Statement by the CEO

    Continued good profit development

    "Traditionally the third quarter is the strongest quarter of the year and this year was no exception. Klövern can once again show good profitability with the highest earnings from property management and the highest operating margin ever for a single quarter.

    Klövern's income for the third quarter rose 17 per cent, primarily driven by acquisitions. Even more gratifying is that the operating margin of 69 per cent was a record high. Falling interest rates also contribute through lower financing costs and declining yield require­ments, which has a positive effect on valuation of the property portfolio.

    At the global level we are still seeing a diverging development. The global economy is continuing its recovery but there is negative impact from geopolitical conflicts and deflationary tendencies in the Eurozone. One ray of light is that the USA is increasingly beginning to function as a motor for growth for the world around it. Unfortunately prospects for the Eurozone are not as bright, not least for its largest economies. Germany has lost some of its momentum, the French economy has stagnated and faces considerable structural problems, while at the same time Italy is in recession. Finland's economic growth is slow and is now also affected by sanctions against Russia. There is an impending threat of deflation in the Eurozone, where the ECB has lowered its benchmark interest rate to a record low of 0.05 per cent. But in Sweden, the picture is a bit brighter.

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    Klövern AB (publ) Interim Report January - September 2014 Income increased by 14 per cent to SEK 1,863 million (1,630). The operating surplus increased by 20 per cent to SEK 1,238 million (1,033). Profit from property management increased by 25 per cent to SEK 594 million (476). Changes in value of …