DANDERYD, Sweden, May 16, 2002 (PRIMEZONE) -- Tornet:
2002:I 2001:I
Profit for the period, SEK m 280 71
Income before tax, SEK m 155 99
Property sales net, SEK m 20 10
Cash flow, SEK m 198 137
Operating profit, SEK m 299 271
Earnings per share, SEK 11.32 2.69
Shareholders' equity per share, SEK 178.01 150.15
Occupancy ratio area, % 92.0 93.3
Sales and acquisitions
Ten properties (8) have been sold for SEK 109 million (81) with a capital gain of SEK 20 million (10). The sales price exceeds the valuation as at 31 December 2001 by SEK 7 million, which corresponds to 7 per cent. 137 properties (2), with a total area of 803 000 sq.m. (13 100), have been acquired for SEK 5 072 million (81).
Tornet acquires Amplion
Tornet has acquired all shares in Amplion Fastigheter AB. Amplion's income is included in the statement of income as from the acquisition date, 6 March 2002.
Repurchase of Tornet's shares
Previously repurchased shares, 2 564 301, were used on acquisition of Amplion, which means that the number of outstanding shares in Tornet is 26 562 246.
Events after the end of the period
After the end of the period, one property has been sold at a price of SEK 6 million and a capital gain of SEK 3 million.
Forecast profit for 2002
In 2002, profit before tax is expected to exceed SEK 500 million. The previous forecast was approximately SEK 500 million. Net profit for the year is expected to exceed SEK 500 million to some extent.
Danderyd, 16 May 2002
For further information, please contact: Sverker Lerheden, Managing Director, Fastighets AB Tornet, +46-8-544 905 00 Britt-Marie Einar, IR Manager, Fastighets AB Tornet, +46-8-544 905 08, +46-70-576 92 08
FASTIGHETS AB TORNET (publ)
Fastighets AB Tornet is one of Sweden's major listed property companies.Its holding has a lettable area of approximately 3.1 million squaremetres and a book value of approximately SEK 19 billion. Nearly 97 percent of the property holdings, measured as book value, are in Sweden andmainly concentrated in Sweden's six largest cities, Norrkoping andKarlstad. The properties are owned and managed by the subsidiariesArosTornet, Malmstaden, MalarTornet, SkansTornet and Euro Tower.
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