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    Klövern AB (publ)  348  0 Kommentare Interim Report January - September 2018

    »» Income increased by 6 per cent to SEK 2,397 million (2,261).

    »» The operating surplus increased by 6 per cent to SEK 1,646 million (1,553).

    »» Profit from property management increased by 5 per cent to SEK 1,047 million (1,001).

    »» Profit before tax amounted to SEK 1,888 million (2,410) and net profit, attributable to the parent company's shareholders, totalled SEK 1,779 million (2,006), corresponding to SEK 1.78 (1.93) per ordinary share.

    »» Changes in value of properties totalled SEK 817 million (1,371).

    »» Project development, including development of building rights, contributed to increases in value of properties of SEK 209 million (380).

    »» After taking possession of 10 properties for SEK 4,264 million, transfer of possession of 12 properties for SEK 1,976 million and investments of SEK 1,248 million, the value of the property portfolio amounted to SEK 47,378 million.

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    »» The interest coverage ratio amounted to 2.9 (3.1) and the adjusted equity ratio to 37.0 per cent.

    »» EPRA NAV amounted to SEK 15.31.

    Statement by the CEO

    Strong earnings combined with international expansion

    Once again Klövern is reporting strong earnings. All geographic markets are strong. The extensive streamlining of the Swedish portfolio has now been completed, opening up potential for new transactions. At the same time, an international expansion has been initiated through acquisitions in
    Copenhagen and New York.

    Overall, both the first nine months of the year and the third quarter have been good. The pace of business has been high. We have completed our streamlining in Sweden and become established on two interesting new markets abroad. Furthermore, at the beginning of October we made a well-founded bid for the real-estate company Agora, which will reinforce Klövern's position at a number of locations with properties with exciting development potential for our locally based administration and project organizations.

    STRONG GROWTH IN EARNINGS
    Income increased by 9 per cent to SEK 813 million in the third quarter of the year. At the same time, profit from property management rose by 9 per cent to SEK 367 million. The operating margin was 71 per cent, compared with 66 per cent for the past 12 months. The economic occupancy rate rose to 90 per cent, an improvement from 89 per cent at the beginning of the year. Net moving-in amounted to SEK 18 million during the quarter and SEK 67 million during the nine-month period, which is really strong. The quality and stability of our earnings are continuing to improve as an increased proportion of our income derives from modern premises in strong, stable rental markets. This is evident from, amongst other things, rising average rental income.

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    Klövern AB (publ) Interim Report January - September 2018 »» Income increased by 6 per cent to SEK 2,397 million (2,261). »» The operating surplus increased by 6 per cent to SEK 1,646 million (1,553). »» Profit from property management increased by 5 per cent to SEK 1,047 million (1,001). »» Profit …