Result of operations and financial position January - March 2007 (compared with same period in 2006):
- Total revenue grew to EUR 59.1 (26.8) million.
- Net operating income was EUR 40.4 (20.5) million.
- The operating profit was EUR 103.4 (23.2) million, including a positive change in the value of the investment properties of EUR 47 million and profit on the disposal of properties of EUR 22.9 million.
- The profit after taxes was EUR 57.7 (11.1) million.
- Earnings per share improved to EUR 0.58 (0.14).
- The cash flow from operations per share was EUR 0.34 (0.14).
- The fair value of investment properties was EUR 2 251.0 (1 281.4) million.
- Net assets per share were EUR 8.10 (6.94).
- Sponda sold property outside its strategic focus for roughly EUR 401 million on 30 March 2007.
- Equity ratio increased to 36 % from the year-end figure of 20 % due to the completed transactions.
Key figures
|
|
1-3/07 |
1-3/06 |
1-12/06 |
|
Economic occupancy rate, % |
89.3 |
87.5* |
88.8* |
|
Total revenue, M€ |
59.1 |
26.8 |
117.4 |
|
Net operating income, M€ |
40.4 |
20.5 |
87.6 |
|
Operating profit, M€ |
103.4 |
23.2 |
103.9 |
|
Earnings per share, € |
0.58 |
0.14 |
0.61 |
|
Cash flow from operations
per share, € |
0.34 |
0.14 |
0.56** |
|
Net assets per share, € |
8.10 |
6.94 |
7.45 |
|
Equity ratio, % |
36 |
42 |
20 |
|
Gearing, % |
148 |
112 |
334 |
* The figure is based on Sponda's property portfolio before the Kapiteeli acquisition.
** Cash flow from operations per share includes sales profits and losses.
Prospects
During 2007 Sponda expects its earnings per share to improve significantly from the previous year. Likewise the economic occupancy rate, and the cash flow from operations per share, including profits and losses on property sales, are expected to improve during 2007.
