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Interim Report January – September 2020

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

» Income amounted to SEK 2,457 million (2,738). The decline is due to divestment of properties during 2019, including the whole portfolio in Karlstad and all investment properties in Örebro. For a comparable portfolio, i.e. properties owned for the whole of 2019 and 2020, income amounted to SEK 2,350 million (2,357).» The operating surplus amounted to SEK 1,664 million (1,894). For a comparable portfolio the operating surplus amounted to SEK 1,615 million (1,615).» Profit from property management amounted to SEK 982 million (1,149).» Profit before tax amounted to SEK 1,661 million (2,140) and net profit, attributable to the parent company’s shareholders, totalled SEK 1,299 million (1,688), corresponding to SEK 1.20 (1.68) per ordinary share.» Changes in value of properties totalled SEK 818 million (1,097).» Project development, including development of building rights, contributed to increases in value of properties of SEK 246 million (241).» After taking possession of 6 properties for SEK 2,334 million, transfer of possession of 3 properties for SEK 379 million and investments of SEK 1,710 million, the value of the property portfolio amounted to SEK 56,619 million.» The interest coverage ratio amounted to 2.6 (2.7), leverage to 53 per cent (50) and the adjusted equity ratio to 40.2 per cent (43.5).» The net asset value (NRV) per ordinary share amounted to SEK 22.10 (21.17).
Statement by the CEO

Good earnings in a recovering market
The year 2020, due to covid-19, is a year like no other. We can, however, see that Klövern’s business is long-term, stable and is delivering good results completely according to plan in a market which is now recovering. We are favoured by our contracted rental income and also by the composition of our tenants, who have generally succeeded in dealing with the current market conditions without too great an impact.
 Klövern AB (publ)This interim report has been published in Swedish and in English. In the event of a discrepancy between the language versions, the Swedish version shall take priority.AttachmentRead the Report here (pdf)

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