Highlights in Q1:
The Group posted another good operating result in the first quarter, with profit
before income tax
amounting to NOK 814 (234) million.
Fair value adjustments of investment properties amounted to NOK 63 (-197)
million, and fair value
adjustments of interest rate derivatives totalled NOK 233 (-6) million in the
quarter.
Profit before tax, fair value adjustments and currency result amounted to NOK
562 (594) million in the
quarter.
The Group's rental income in the first quarter amounted to 958 million, an
increase of 5,8 % compared
to the same quarter last year.
The Group's financial position is solid, and by the end of the quarter the
Group's equity ratio was 51 %
(52 %), while its liquidity reserves increased to NOK 7 458 (4 571) million.
Retail sales in the shopping center portfolio in the first quarter were NOK 13
105 (12 529) million, an
increase of 5 % compared to the same quarter last year.
For Olav Thon Eiendomsselskap ASA
Arne B. Sperre
EVP Finance and CFO
Tel: +47 926 97 622