After a year of intensive acquiring Kungsleden reports more than a doubling of the profit per share for 2005.
The operating net improved considerably while we have continued to strengthen our earnings capacity through an extensive property trading. During the fourth quarter alone we acquired properties for SEK 7.6 billion. During the year, the total value of Kungsledens property portfolio rose from SEK 12.5 billion to SEK 25.8 billion, says Jens Engwall, Kungsledens CEO.
- Profit before tax was SEK 2,116 (500) m and net profit was SEK 1,987 (877) m, equivalent to SEK 48,1 (21,7) per share.
- Kungsledens rental revenues increased to SEK 1,845 (1,429) m and operating net increased by 28 per cent to SEK 1,304 (1,017) m.
- Earnings for calculating dividends amounts to SEK 1,001 m, corresponding to SEK 22 (14) per share. The Board proposes that dividend is raised by 56 per cent to SEK 11 (7) per share.
- The Board intends to propose the AGM a share split 3:1.
- During the year, 56 properties were divested for SEK 2,917 m generating profits of SEK 318 m and cash flow of SEK 403 m; 466 properties were acquired for SEK 13,351 m.
- Kungsleden is forecasting profit of SEK 1,500 m for the financial year 2006.