Technopolis - Company Announcement
TECHNOPOLIS PLC STOCK EXCHANGE RELEASE 17.4.2008 at 9.00 a.m.
TECHNOPOLIS'S REGISTRATION DOCUMENT APPROVED BY THE FINNISH FINANCIAL
The Finnish Financial Supervision Authority has on 14 April 2008 approved
Technopolis Plc's (the ”Company”) registration document which complies with the
Finnish Securities Market Act and contains information on the Company, its
business operations and its financial condition (the ”Registration Document”).
The Registration Document is valid for a period of up to 12 months following
This Registration Document is available as of today, 17 April 2008, for a
period of its validity in the Finnish language at the website of the Company at
www.technopolis.fi, Sijoittajille. In addition, printed Registration Document
is available in the Finnish and in English languages at the office of the
Company at Technopolis Plc, Elektroniikkatie 8, FI-90570 Oulu, Finland as well
as at OMX Way, the service point of OMX Nordic Exchange Helsinki Ltd. at
Fabianinkatu 14, FI-00100 Helsinki, Finland.
The Registration Document comprises, among other things, the below information
which has not been disclosed by the Company before. In order to ease the
comprehension of the financial information, the information presented as per 31
March 2008 is accompanied by the information on the reference period of 31
March 2007, which the Company has already disclosed earlier. Respectively, the
financial information presented as per 29 February 2008 is accompanied by the
information on the reference period of 31 December 2007, which the Company has
also disclosed earlier.
1) On 31 March 2008, the Technopolis Group's financial occupancy rate was 96.8
per cent (94.5 per cent on 31 March 2007).
2) During the 12-month period of 1 April 2008 - 31 March 2009, the agreements
effective until further notice included in the lease portfolio that can be
terminated and renegotiated will cover an area of 218,000 allocated square
meters (50 per cent of the total allocated square meters in the Company's
properties), representing 60 per cent of the Technopolis Group's estimated
rental income during the 12-month period of 1 April 2008 - 31 March 2009. The
periods of notice for these agreements are as follows: three months or less for
25 per cent of the agreements, more than three months and less than six months
for 51 per cent of the agreements, six to nine months for 16 per cent of the
agreements and more than nine months for 8 per cent of the agreements.
3) Of the long-term interest-bearing debts, on 29 February 2008 30.5 per cent
were pegged to a fixed interest rate (34.8 per cent on 31 December 2007) and
69.5 per cent were pegged to a 3-12 month variable rate (65.2 per cent on 31
December 2007). The weighted credit period for the remaining principal of the
loans on 29 February 2008 was 11.1 years (11.1 years on 31 December 2007).
4) The net rental income percentage of the Company's properties available for
comparison on 31 March 2008 was 7.3 per cent, whereas it was 7.7 per cent on 31
5) Stage five of the Helsinki-Vantaa technology center is scheduled for
completion in November 2008 and its occupancy rate is currently 17 per cent.
6) First stage of the Company's technology center in Ruoholahti, Helsinki will
be commissioned in August 2008 and its current occupancy rate is 63 per cent.
7) The estimated time of completion of the third stage of the Company's
technology center in Kontinkangas, Oulu is in August 2008 and the forth stage
in September 2008. Both the third and the fourth stage have been completely
8) The Company's Hermia 12 property located in Tampere was completed in
February 2008 and it has been completely leased out.
9) First stage of the Company's Lappeenranta City project will be completed for
the use of customers in April-May 2008. 98 per cent of the first stage has been
10) In accordance with the letter of intent signed between the Company and the
City of St. Petersburg on 7 October 2005, the City of St. Petersburg examined
the possibility of arranging a plot of land for Technopolis for the purpose of
technology center business in the Neudorf district on the western side of
central St. Petersburg. In November 2005, the area was approved under so-called
SEZ (Special Economic Zone) legislation, one of six such areas in Russia.
Technopolis and the City of St. Petersburg also began preparations for an
investment agreement for the project. Preparations have been delayed by
legislative and administrative interpretations concerning the SEZ. As
Technopolis's other projects have moved ahead, the Company's resources have
been focused on developing Pulkovo and Nevsky Centre in St. Petersburg.
Although it is uncertain whether the SEZ project will go ahead as originally
planned, this has no effect on the progression of the construction project of
the Pulkovo technology center or the development of Nevsky Centre.
11) On 29 February 2008, the Group's equity ratio was 34.4 per cent (39.0 per
cent on 31 December 2007). The Group's net gearing was 165.5 per cent at the
same time (133.6 per cent on 31 December 2007).
12) On 29 February 2008, Technopolis's interest-bearing debt totaled EUR 350.3
million (EUR 277.9 million on 31 December 2007). The average interest rate of
the Company's interest-bearing liabilities at the end of February 2008 was 4.78
per cent (4.82 per cent on 31 December 2007).
13) On 29 February 2008, the sum of commercial paper issued by the Company was
EUR 32.8 million (EUR 35.2 million on 31 December 2007).
14) On 14 April 2008, the Company's unused credit limits amounted roughly to
EUR 105.7 million (EUR 55 million on 31 December 2007). The Company has option
to use a limit of EUR 15 million relating to an account with overdraft
facility. The Company also had roughly EUR 57.2 million available under its
commercial paper program on 29 February 2008 (EUR 54.8 million on 31 December
15) The value of the Technopolis Group's lease portfolio on 31 March 2008 was
roughly EUR 120.4 million.
16) The Company's net profit for the period of 1 January - 29 February 2008 was
EUR 2.34 million.
17) The market value of the Company's investment property portfolio as of 31
March 2008 totaled EUR 549.0 million. The increase in the market value of the
investment properties was due to the investment properties of the acquired
Technopolis Kuopio Oy (formerly Kuopion Teknologiakeskus Teknia Oy), the
acquisition of the plot in Yliopistonrinne in Tampere and the completion of the
Hermia 12 property as well as the value adjustments of investment properties.
On 31 March 2008, the market value of the Company's investment property
portfolio is distributed regionally as follows: Oulu 38.8 per cent, Helsinki
Capital Area 24.7 per cent, Jyväskylä 12.0 per cent, Kuopio 11.8 per cent,
Tampere 5.9 per cent, Lappeenranta 4.8 per cent and St. Petersburg 1.8 per
Oulu, April 17, 2008
President and CEO
For further information, please contact:
Pertti Huuskonen, tel. +358 (0)8 551 3213 or +358 (0)400 680 816
OMX Nordic Exchange Helsinki
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