RomReal Q4 2009 Results
(Thomson Reuters ONE) -
RomReal hereby announces the highlights in connection with the Q4 2009 results:
* Statutory Net Asset Value (NAV) under IFRS was EUR 0.86 (NOK 7.4) per share
at the end of Q4 2009, a reduction of 19% compared to the end of Q3 2009.
This was a result of a further downward adjustment in the value of
investment properties following the independent valuation carried out by
Colliers International at the 2009 year-end.
* Pre-tax loss in Q4 2009 of EUR 10.16 million. Total assets at the end of Q4
2009 were EUR 58.85 million.
* Development cost for Q4 2009 amounted to EUR 473,003. Apart from a small
item expected in Q1 2010, the completion of the Corallia project will put an
end to cash expenditure for development.
* The hand-over of flats and cash collection from the Corallia apartment
buyers have started. Whereas no payments were received in Q4 2009, during Q1
2010 up until the date of reporting, EUR 562,000 out of about EUR 2 million
in outstanding contract payments has been collected in cash.
RomReal invites investors, analysts and media to the results conference call, to
be held at 9.00 a.m. Oslo time on Friday 26 February 2010.
Those who would like to attend the conference call are invited to dial:
UK Freefone dial-in number: 0800 169 0968
UK Direct dial-in number: 0208 996 3943
International direct dial-in number: +44 208 996 3943
Global Access Numbers: http://www.btconferencing.com/globalacce
ss/?bid=49_automated
Passcode: 866 336#
The conference call will be recorded and made available to download
fromwww.romreal.com
For further information, please contact:
Ulf Lund, Investor Relations
Tel: +44 20 7802 1928
Mob: +44 7920 501 090
E-mail: investors(at)romreal.com
[HUG#1388832]
RomReal Q4 2009 Report: http://hugin.info/138565/R/1388832/347057.pdf
RomReal Q4 2009 Presentation: http://hugin.info/138565/R/1388832/347058.pdf
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Datum: 25.02.2010 - 23:11 Uhr
Sprache: Deutsch
News-ID 1010735
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