GÖTEBORG, Sweden--(BUSINESS WIRE)--Regulatory News:
· Rental revenue SEK 6.6 M (6.6)
· Operating profit SEK 38.4 M (3.8)
· Profit before tax SEK 36.8 M (1.4)
· Profit after tax SEK 29.0 M (1.1), corresponding to SEK 2.51 per share (0.09)
· Unrealised changes in property value SEK 34.3 M (-0.5)
· Investments SEK 0.5 M (0.5)
The period January – June
· Rental revenue SEK 13.3 M (13.3)
· Operating profit SEK 43.0 M (22.6)
· Profit before tax SEK 39.6 M (17.9)
· Profit after tax SEK 31.2 M (13.3), corresponding to SEK 2.70 per share (1.15)
· Unrealised changes in property value SEK 34.3 M (14.3)
· Investments SEK 0.7 M (0.7)
CEO Andreas Philipson comments
The business remained stable in the first half of 2013. The differences in the results compared to the same period last year are primarily due to an increase in property values during the quarter of more than 34 million SEK. The estimated increase in value is essentially due to reduced risk factors as our plans continue to materialise.
Our zoning plan was appealed at the beginning of the year concerning noise pollution and particle levels. In this quarter, we have worked to ensure that the appeal process will run as smoothly as possible. Catena is focused on a strong environmental profile for the new Haga Norra. Our aim is to meet all requirements to ensure the best environment possible. Based on our test measurements and the environmental precautions we have included in the zoning plan, we feel confident we will reach the required limits when the expansion is completed.
Preparations continued in order to identify future commercial tenants for our properties.
The level of activity and interest for what is happening in the local area remained strong during this quarter, including the developments at Arenastaden and the continued expansion of the hospital, New Karolinska in Hagastaden. When New Karolinska held an open house, approximately 1,000 visitors showed up. The range of future offerings in Haga Norra and its surroundings in terms of employment, housing, shopping, entertainment and leisure makes our location very interesting.
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 9 August, 2013, at 08.00 am.
Catena shall own, effectively manage and actively develop well situated real estate with the potential to generate steadily growing cash flow and healthy value growth. Catena’s overriding objective, based on its focused orientation, is to provide shareholders with a favourable, long-term total return.
This information was brought to you by Cision http://news.cision.com