INTERIM REPORT JANUARY – MARCH, 2011
Continued increase in value of the property at Stora Frösunda, Solna
- Rental revenue during the year totaled SEK 27.4 M (27.2).
- Operating profit during the year amounted to SEK 137.5 M (5.9).
- Profit before tax for the year was SEK 128.2 M (loss: 29.1).
- Profit after tax for the year amounted to SEK 93.5 M (loss: 23.4) corresponding to SEK 8.09 per share (loss: 2.02).
- Unrealized change in property value amounted to SEK 130.0 M (neg: 3.0)
- Investments in continuing operations was SEK 0.2 M (-).
- Comprehensive income from discontinued operations after tax amounted to SEK 255.0 M (143.8) or SEK 22.05 per share (12.43)
Profit from continuing and discontinued operations
- Profit after tax for the year amounted to SEK 348.5 M (120.4) or SEK 30.14 per share (10.41)
President and Chief Executive Officer Peter Hallgren comments:
- The value of Catena’s property at Stora Frösunda, Solna, continues to increase as work on the detailed development plan proceeds. The increase in value was SEK 29 M during the first quarter of 2011. The new detailed development plan is scheduled to be exhibited during the third quarter of 2011 and the City Planning Committee and the Municipal Council are expected to issue their decisions during the fourth quarter of 2011.
- The divestment of Catena’s entire property portfolio, with the exception of the Stora Frösunda property, was implemented on February 15, 2011. Following the sale to Balder, Catena’s Annual General Meeting has decided to change the company’s registered office from Gothenburg to Solna.
For information, please contact Peter Hallgren, President and CEO, tel +46-31-760 09 32, or Rune Jonsson, CFO, tel +46-31-760 09 35
N.B. This is a translation from Swedish. The Swedish version shall always take precedence.
This information is such that Catena AB (publ) must release it publicly in accordance with the Swedish Securities and Clearing Operations Act and/or the Financial Instruments Trading Act. The information was released to the public on April 28, 2011, at 15.13 p.m.