INTERIM REPORT JANUARY – MARCH, 2009

Catena reports positive earnings after tax

• Rental revenue during the period totaled SEK 49.6 M (46.1).
• Income from property management amounted to SEK 25.2 M (20.9), or SEK 2.18 per share (1.81).
• Profit before tax for the period was SEK 29.9 M (20.8).
• Profit after tax for the period amounted to SEK 24.2 M (13.5), or SEK 2.09 per share (1.17).
• Realized change in value included in profit before tax amounted to SEK 2.6 M (-)
• Unrealized change in value amounted to a profit of SEK 2.1 M (loss: 0.1), for which property accounts for a profit of SEK 11.4 M (profit: 5.4) and derivatives for a loss of SEK 9.3 M (loss 5.5).
• Investments in existing portfolio amounted to SEK 23 M (27) during the period.


Peter Hallgren, President and CEO:

• Current operations in Catena continue to progress favourably. Catena’s income from property management during the first quarter was SEK 25.2 M, an increase of 20 percent compared with the corresponding period in 2008. We assess that during 2009 we will have continued strong development of income from property management. The actual earnings capacity at March 31, 2009 is reported in the Interim Report.

• The sale of approximately 3,800 square meters of undeveloped land with building rights in Lilleström yielded a capital gain of SEK 2.6 M, which is reported in the first quarter of 2009.

• The value of the property portfolio was appreciated upward by about SEK 11 M at March 31, 2009, due mainly to forein currency effects and investments made, including our project for Vestas in the Svågertorp commercial area in Malmö. This investment totaled SEK 72 M and the tenant moved in at the end of March.

The full report