Interim Report January-March 2000

Interim Report January - March 2000 The profit after financial items increased by 84 % to SEK 115 million (SEK 63 m) Properties have been sold for a total of SEK 572 million between January and March, yielding a profit of SEK 45 million EPS increased to SEK 0.26 (SEK 0.14) after full tax. Equity/assets ratio increased to 23.4% (22.8%) Results The profit after financial items increased to SEK 115.1 million (SEK 62.6 1 m) . EPS after full tax, including profits on the sale of properties, 2) totalled SEK 0.26 (SEK 0.14). The improvement in the profit is primarily due to an increase in profit on the sale of properties. Rental income for the period totalled SEK 560.9 million (SEK 548.7 m). The operating surplus before depreciation totalled SEK 312.5 million (SEK 308.6 m). The operating profit was SEK 296.4 million (SEK 252.3 m). The profit includes a profit on the sale of properties of SEK 45.0 million (SEK 0.0 m), and interest grants totalling SEK 3.7 million (SEK 11.4 m). The operating surplus for comparable property holdings has during the first 3 months of 2000 increased by SEK 8 million in comparison with the corresponding period in 1999. Operations Wihlborgs is one of Sweden's larger property companies. The operations are concentrated on the growth regions of Stockholm and Öresund, which 3) collectively account for 90 % of the company's total rental income . The property holding comprises commercial premises and residential accommodation with an annual rental value of SEK 2.3 billion, a total leasable floor area of 2.9 million m2 and a book value of SEK 20.2 billion. The market and property holdings 45%, 45% and 10% of the total property holding's rental value are to be found in the Stockholm, Öresund and other regions, respectively. 35%, 41% and 24% of the property holding's rental value comprises Residential Premises, Offices/Shops and Industrial/Hotel Premises, respectively. At the period end, the economic letting level for the Group's property holding was 95%. Broken down by Wihlborgs' market areas, the letting levels in the Stockholm and Öresund regions are 97% and 94%, respectively, and 87% for other properties. 1) The comparative figures for Profit & Loss Account items refer to values for the period from January to March 1999, whilst those for Balance Sheet items refer to values as of 31 December 1999. 2) For definitions, please see page 12. 3) Refers to rental values on a full year basis, which are defined as rent payable as per 31 March 2000 on a full year basis plus estimated market rental on a full year basis for vacant floor area. ------------------------------------------------------------ Please visit for further information The following files are available for download: The full report The full report

26 Apr 2000 2:13 PM

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