DANDERYD, Sweden, Aug. 21, 2002 (PRIMEZONE) -- Tornet:
2002:II 2001:II
Profit for the period, 369 347
SEK m
Income before tax, SEK m 277 390
Property sales net, SEK m 34 288
Cash flow, SEK m 372 457
Operating profit, SEK m 670 555
Earnings per share, SEK 14.39 13.23
Shareholders' equity per 177 157
share, SEK
Occupancy ratio area, % 90.8 93.3
Sales and acquisitions
26 properties (38) have been sold for SEK 290 million (1 223) with a capital gain of SEK 34 million (288). The sales price is at the level of the valuation as at 31 December 2001. 141 properties (4) have been acquired for SEK 5 467 million (362).
Events after the end of the period
After the end of the period, two properties have been sold for SEK 9 million and a capital gain of SEK 4 million. Three properties have been acquired for SEK 96 million.
Tornet has reached an agreement in principle with Telia on Telia Business Centers.
Forecast profit for 2002
Tornet is maintaining its earlier forecast. Income before tax and net profit for the year are expected to exceed SEK 500 million, which exceeds SEK 19 per share.
Danderyd, 21 August 2002
Fastighets AB Tornet (publ)
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 is one of Sweden's major listed property companies. Its holding has a lettable area of approximately 3.1 million square metres and a book value of approximately SEK 19 billion. Nearly 97 per cent of the property holdings, measured as book value, are in Sweden and mainly concentrated in Sweden's six largest cities, Norrkoping and Karlstad. The properties are owned and managed by the subsidiaries ArosTornet, Malmstaden, MalarTornet, SkansTornet and Euro Tower.
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
www.waymaker.net/bitonline/2002/08/21/20020821BIT00580/wkr0001.doc www.waymaker.net/bitonline/2002/08/21/20020821BIT00580/wkr0002.pdf