Technopolis - Company Announcement
TECHNOPOLIS OYJ STOCK EXCHANGE BULLETIN 6.4.2009 at 11.25 a.m.
PRELIMINARY INFORMATION: Q1 INTERIM REPORT INVESTMENT PROPERTY FAIR MARKET
VALUES WILL DROP BY APPROXIMATELY 14 MILLION EUROS
According to our estimates, the fair market value of the company's investment
properties will decline in the interim report for the period ending 31.3.2009
by approximately MEUR 14. The decline contains a drop of approximately MEUR
12.5 resulting from a 0.17 percentage point increase in yield requirements
compared to the yield requirements in the 31.12.2008 Financial Report. The
remaining MEUR 1.5 comes primarily from rising facility modernization costs.
The fair market values are unaudited.
We estimate that the approximately MEUR 14 decline in fair market values will
reduce the Group's first quarter net profit by approximately MEUR 10.4, taking
into account changes in nominal tax liabilities. The Group's Q1 net profit in
2008 was MEUR 5.5, including a positive nominal tax liability adjusted impact
of MEUR 1.9 from changes in fair market values for the period. The Group's 2008
net profit was MEUR 15.9 on the year.
The Technopolis Group repeats its estimate published on 26.3.2009 regarding the
increase in net sales and EBITDA for the current year, being between 5 % and 8
% from the previous year. The company then estimated, however, that the market
has taken a significant downturn during the beginning of the year, which
increases the uncertainty in financial forecasts for the current year. The
company then also estimated that there is a significant risk that financial
occupancy rate will fall in 2010, which may negatively affect the company's net
sales and EBITDA. The company had not previously given an outlook for 2010.
Technopolis will publish its Q1 interim report on 23.4.2009.
Keith Silverang, CEO, + 358 40 566 7785
Reijo Tauriainen, CFO, + 358 40 515 9848
NASDAQ OMX Helsinki Oy
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