Tornet presents Interim Report January-June 2005 (SE)

Tornet has presented its interim report January - June 2005. In the first six months of this year, the company's rental income reached SEKm 782 (H1 2004: SEKm 1,148), operating income reached SEKm 625 (H1 2004: SEKm 695) and net profit amounted to SEKm 366 (H1 2004: SEKm 252).

The H1 2005 highlights are:

  • Rental income: SEKm 782 (H1 2004: SEKm 1,148)
  • Operating income: SEKm 625 (H1 2004: SEKm 695)
  • Income after financial items: SEKm 78 (H1 2004: SEKm 349)
  • Net profit: SEKm 366 (H1 2004: SEKm 252)
  • Earnings per share: SEK 14.10 (H1 2004: SEK 9.70)
  • Shareholder's equity per share (after dividend): SEK 120 (H1 2004: SEK 153)
  • Occupancy ratio area: 84.6% (H1 2004: 88.0%)
  • Occupancy ratio financial: 87.1% (H1 2004: 89.6%)


Net profit
Net profit increased by SEK 114 million to SEK 366 million (252).

Sales
During the period, 57 properties (12) have been sold for a total of SEK 4,845 million (633). The sales price exceeded the book value by SEK 266 million, equivalent to 6 per cent.

Lettings
During the first six months of the year, Tornet has signed new leases for 54,000 sq.m. of premises and renegotiated 21,000 sq.m. mainly in Stockholm, Göteborg and Malmö.

Events after the end of the period
After the end of the period 44 properties with a total book value of SEK 2,166 million have been sold.

Source: Tornet

Related News