* Rental income amounted to SEK 182 million (139)
* Net profit for the period increased to SEK 183 million (42)
* Earnings per share increased to SEK 1,52 (0.39)
* SEK 125 million of the profit consists of changes in value of properties (4)
* The full-year forecast is maintained: net profit is expected to exceed SEK 250 million excluding changes in the value of properties
Statement by CEO:
The unrealised changes in value are explained by new letting Unrealised changes in value of properties account for as much as SEK 112 million of Klövern's profit during the first quarter. The explanation for this increase is not only decreasing required return but, to a great extent also new letting.
"It is extremely gratifying that it is largely our own work of letting and improvement that is contributing to the change in value of the properties and thus also profit", says Klövern's CEO Gustaf Hermelin.
Klövern has noted a clear increase in demand in all geographic market segments during the first quarter of 2006. This increase is a good sign for the rest of the year and gives hope that the positive net letting that has taken place since the first quarter of 2005 will continue for the rest of 2006. Rental levels are also showing an upward trend, in particular for retail premises.
Calendar 2006 Interim Report January - June 2006 Thursday, 20 July Interim Report January - September 2006 Thursday, 26 October
Reports are available on Klövern's website www.klovern.se, where it is also possible to subscribe to annual reports, interim reports and press releases.
Nyköping, 27 April 2006
Gustaf Hermelin CEO
This interim report has not been subject to scrutiny by auditors.
The full report including tables can be downloaded from the following link: