YEAR-END REPORT 2011
Fourth quarter 2011, remaining operations
- Rental revenue SEK 6.5 M (6.8)
- Operating profit SEK 12.3 M (20.8)
- Profit before tax SEK 10.1 M (21.1)
- Profit after tax SEK 0.9 M (15.4) corresponding to SEK 0.08 per share (1.33)
- Unrealized changes in property value SEK 9.2 M (20.0)
- Investments in remaining operations SEK 0.8 M (0.3)
- Profit after tax SEK 6.1 M (95.1), including discontinued operations, corresponding to SEK 0.53 per share (8.22)
12 months, remaining operations
- Rental revenue SEK 27.0 M (27.4)
- Operating profit SEK 94.5 M (1376)
- Profit before tax SEK 90.7 M (128.3)
- Profit after tax SEK 61.0 M (93.5) corresponding to SEK 5.27 per share (8.09)
- Unrealized changes in property value SEK 86.7 M (130.0)
- Investments in remaining operations SEK 3.4 M (0.2)
- Profit after tax SEK 129.6 M (348.6), including discontinued operations, corresponding to SEK 11.21 per share (30.14)
- The Board of Directors proposes a dividend of SEK 2.00 per share
Comments from President and Chief Executive Officer Andreas Philipson
In the fourth quarter we focused on zoning plan development for our project property Haga Norra in Solna, Stockholm. We have made some more progress but the process has taken a bit longer than we had originally estimated. The proposed zoning plan is essentially finished and the only issues remaining in our dialog with the City of Solna are related to exploitations costs for certain common areas.
In parallel to the zoning plan development, leasing efforts are underway. We notice the high attractiveness of locating offices to Haga Norra, close to the E4 highway, to the airport, or downtown Stockholm. With all the major construction projects such as Arenastaden, Nya Karolinska and Hagastaden that are emerging in the immediate area, we think that Stora Frösunda stands at the center of this new and exciting part of greater Stockholm.
Profit before tax in the fourth quarter amounted to SEK 10 M, and landed at SEK 91 M for the full year. The operations and profits developed as planned. Existing tenants give a stable cash flow that ensures a continued financing of projects.
Altogether, this makes me optimistic as to Catena’s development potential for 2012.
For further information, please contact:
Andreas Philipson, CEO
Tel. 070-209 77 60
This information is such that Catena AB (publ) must release it publicly in accordance with the Swedish Securities and Clearing Operations Act and/or the Financial Instruments Trading Act. The information was released to the public on February 24, 2012, at 08.00 am.