Interim Report January–March 2013: Increased income and continued value growth
- Rental income increased to SEK 513m (453). The year-on-year change was due to growth through positive net lettings and completed projects.
- Realised and unrealised value changes amounted to SEK 299m (407) for properties and SEK 188m (220) for fixed-income derivatives.
- Profit from property management increased with 8 per cent to SEK 135m (125).
- The profit for the period before tax amounted to SEK 620m (753). Profit after tax for the period amounted to SEK 516m (561), corresponding to earnings per share of SEK 3.14 (3.46).
- Net lettings amounted to SEK 5m (88).
“Overall, I am pleased with the earnings trend in the first quarter, during which investment properties, development properties and the transaction business all made solid contributions to Fabege’s total earnings,” says Christian Hermelin, CEO of Fabege. “We have a strong potential to create value and continued growth in 2013.”
Fabege AB (publ)
For further information, please contact:
Christian Hermelin, CEO, phone 46 (0)8 555 148 25, 46 (0)73 387 18 25
Åsa Bergström, Deputy CEO and CFO, phone 46 (0)8 555 148 29, 46 (0)70 666 13 80
This constitutes information that Fabege AB (publ) may be legally obliged to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 07:00 am CET on 23 April 2013.
Fabege AB (publ) is one of Sweden’s leading property companies focusing mainly on letting and managing office premises and property development. The carrying amount of the company’s property portfolio is approximately SEK 32.1bn. The portfolio is concentrated in the Stockholm region and has an annualised rental value of SEK 2.3bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.