Citycon acquired shopping centre Kista Galleria located in Stockholm together with Canada Pension Plan Investment Board (CPPIB). When acquiring Kista Galleria, Citycon published its turnover, net rental income and the fair value of its investment properties to grow by entire Kista Galleria’s turnover, net rental income and fair value. Different from what was announced, the acquisition will be treated as a jointly controlled entity and Kista Galleria is to be consolidated with the equity method meaning that Citycon’s share (50%) out of the net profit of Kista Galleria shopping centre is recorded as share of result in jointly controlled entities in the statement of comprehensive income. In the statement of financial position, Citycon’s share of Kista Galleria is reported within the line called Investment in jointly controlled entities.
Regardless of the change in consolidation method of Kista Galleria, Kista Galleria’s effect on the company’s EPRA earnings and EPRA earnings per share will remain unchanged.
To ensure transparency, Citycon will provide in the future additional disclosure of Kista Galleria as if it was fully consolidated to Citycon.
Helsinki, 6 February 2013
For further information, please contact:
Eero Sihvonen, Executive Vice President and CFO
Tel. +358 20 766 4459 or +358 50 557 9137
NASDAQ OMX Helsinki