Interim report January – September 2017

  • Rental income increased to SEK 1,688m (1,573) primarily as a result of completed project properties generating revenue. In an identical portfolio, income rose by approximately 8.5 per cent (9).
  • Net operating income increased to SEK 1,230m (1,125). In an identical portfolio, net operating income increased by approximately 11.5 per cent. The surplus ratio was 73 per cent (72).
  • Profit from property management rose by 12 per cent to SEK 713m (637).
  • Realised and unrealised changes in value amounted to SEK 4,452m (4,660) in properties and SEK 227m (−131) in interest-rate derivatives.  
  • Profit before tax for the period amounted to SEK 5,389m (5,166).
  • After-tax profit for the period amounted to SEK 4,202m (4,346), corresponding to SEK 25:40 per share (26:28).
  • Net lettings during the period totaled SEK 190m (87).
  • The rent levels from renegotiated leases increased by an average of 27 per cent.
  • The equity/assets ratio was 47 per cent (46)
  • Loan-to-value ratio 44 per cent (46). 

    *The comparison figures for income and expense items relate to values for the period January–September 2016 and for balance sheet items as at 31 December 2016.

Continued strong market
- Several major project lettings during the period mean more project start-ups and continued value creation. Meanwhile cash flow in the property management portfolio is being strengthened via new lettings and renegotiations at increasingly high rent levels, comments CEO, Christian Hermelin.

Fabege AB (publ)    
 

For further information, please contact:
Christian Hermelin, CEO, Fabege, tel +46 8 555 148 25, +46 733 87 18 25
Åsa Bergström, CFO, tel +46 8 555 148 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 and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 19 October 2017.


Fabege is a property company focusing on city district development and commercial properties. We develop attractive and sustainable districts with modern offices, housing and a broad range of services – together with strategic partners. Both our perspective and approach to ownership are long term and our passion is creating the right conditions for all those living, working and visiting our areas. We have a presence in a limited number of high-growth submarkets in the Stockholm region. Fabege’s shares are listed on Nasdaq Stockholm, in the Large Cap segment. For further information, visit
www.fabege.com

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About Us

We are a property company focusing on city district development and commercial properties. We develop attractive and sustainable districts with modern offices, housing and a broad range of services - together with strategic partners. Both our perspective and approach to ownership are long term and our passion is creating the right conditions for all those living, working and visiting our areas. We have a presence in a limited number of high-growth submarkets in the Stockholm region. Fabege’s shares are listed on Nasdaq Stockholm, in the Large Cap segment.