Interim report Januari – September 2016
- Rental income increased to SEK 1,573m (1,493), primarily as a result of completed project properties generating revenue. In an identical portfolio, income rose by roughly 9 per cent (4).
- Net operating income for the period increased to SEK 1,125m (1,080). In an identical portfolio, net operating income rose by approximately 10 per cent. The surplus ratio was 72 per cent (72).
- Profit from property management rose by 23 per cent to SEK 637m (516).
- Realised and unrealised changes in value amounted to SEK 4,660m (1,974) in properties and SEK –131m (111) in interest-rate derivatives. Periodens resultat före skatt uppgick till 5 166 Mkr (2 637).
- Profit before tax for the period amounted to SEK 5,166m (2,637).
- After-tax profit for the period amounted to SEK 4,346m (2,054), corresponding to SEK 26.28 per share (12.42).
- Net lettings during the period totalled SEK 87m (78). The rent levels from renegotiated leases were an average of 24 per cent higher.
- The equity/assets ratio was 44 per cent (39) and the loan-to-value ratio was 47 per cent (55).
*The comparison figures for income and expense items relate to values for the January–September 2015 period and for balance sheet items at 31 December 2015.
Well positioned to take advantage of future business opportunities
- Both the property and rental markets have remained very strong. Given the prevailing market conditions and Fabege’s attractive property and project portfolio, the prerequisites are favourable for strong earnings in 2016. More completed projects will increase rental volumes which, combined with continued operational efficiency and low interest expense, is expected to generate better profit from property management. Fabege is well positioned to capitalise on the opportunities ahead, comments Christian Hermelin, CEO Fabege.
Fabege AB (publ)
More information is available from:
Christian Hermelin, CEO, +46 8 555 148 25, +46 733 87 18 25
Åsa Bergström, CFO, +46 555 148 29, +46 706 66 13 80
This information is information that Fabege AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on October 20 2016.
Fabege AB (publ) is one of Sweden’s leading property companies focusing on letting and managing office premises as well as city district development. Fabege owns properties with a total carrying amount of SEK 44.7bn. The property portfolio, which is concentrated in the Stockholm region, has a rental value on an annualised basis amounting to SEK 2.3bn and a lettable area of 1.1 million sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, in the Large Cap segment. For further information, visit www.fabege.se