| | | | | | MNOK |
| Property development, Sweden | Q3 2009 | Q3 2008 | At 30 Sep. 2009 | At 30 Sep. 2008 | 2008 | 2007 |
| Operating revenues | 49.1 | 206.0 | 228.0 | 571.2 | 719.7 | 767.8 |
| Operating expenses | -49.2 | -181.9 | -213.0 | -499.8 | -629.2 | -638.5 |
| Depreciation | 0.1 | -0.1 | - | -0.3 | -0.5 | -3.8 |
| Operating profit (EBIT) | - 0.0 | 24.0 | 15.0 | 71.1 | 90.0 | 125.5 |
Share of profit associated
companies and | 3.6 | 0.6 | 6.3 | 12.0 | 15.5 | 5.5 |
| Net financial items | -0.4 | -1.1 | 0.4 | -8.1 | -3.7 | -18.0 |
| Earnings before tax (EBT) | 3.2 | 23.5 | 21.7 | 75.0 | 101.8 | 113.0 |
| Total assets business area | 590.7 | 672.5 | 590.7 | 672.5 | 791.3 | 825.4 |
The housing market showed a positive development in the third quarter of 2009. A total of 52 dwellings were sold, as against 86 in all of 2008.
The Swedish property operations had a third quarter turnover of MNOK 49 (MNOK 206 for third quarter 2008). This gave earnings before tax of MNOK 3.2 (MNOK 23.5).
At the end of the quarter, the division had 164 dwellings under construction in six projects (580 at 31 September 2008). 24 of these dwellings are not sold, and this corresponds to a sales rate of 89 per cent. One completed dwelling remains unsold.
The low volumes can be explained by the fact that few projects are approved for development, and that demand is still relatively low. In the third quarter, sales were successfully started in several projects. One project comprising 28 housing units was initiated during the quarter. A further two projects will be started up in the fourth quarter, with altogether 84 housing units.
At the end of the quarter, the site portfolio in Sweden held a potential of 3,850 units.
