Increased required yield, rising rental levels and a continued high level of net moving in
"During the quarter, we have seen how inflation and higher interest rates have led to higher required yield for our property portfolio. At the same time, we can note a continued high level of demand for premises, rising rental levels and positive net moving in.
The largest increases in rents are in our Business and Science Parks. Despite the overall poisitive development of operations, property value has fallen by over one per cent", says Klövern's President and CEO Gustaf Hermelin.
Nyköping, 9 July 2008
Klövern AB (publ)
For further information, please contact:
Gustaf Hermelin, CEO, tel +46 155-44 33 10, +46 70-560 00 00, email@example.com
Caesar Åfors, CFO and vice-CEO , tel +46 155-44 33 02, +46 70-662 48 48, firstname.lastname@example.org
Britt-Marie Einar, Finance and Information Manager, tel +46 155-44 33 12, +46 70-224 29 35,
Klövern is a real estate company committed to working closely with customers to meet their needs of premises and services in Swedish growth regions. Today Klövern has geographical units in ten cities/locations: Borås, Karlstad, Kista, Linköping, Norrköping, Nyköping, Täby, Uppsala, Västerås och Örebro. As at 30 June 2008, the value of the properties is approximately SEK 12.2 billion and the rental income on an annual basis is around SEK 1.3 billion. The Klövern share is listed on the OMX Nordic Exchange in Stockholm for medium-sized companies.
Klövern AB (publ), Box 1024, SE- 611 29 Nyköping; Sweden * Tel +46 155-44 33 00, Fax +46 155-44 33 22.
Company registration no. 556482-5833 * Registered office: Nyköping * Website: www.klovern.se