Interim report January-September 2009
• Earnings from property management activities grew by 43 per cent to SEK 624m (437)
• Rental income decreased to SEK 1,647m (1,674) due to net sales of properties
• The surplus ratio increased to 67 per cent (65)
• The profit after changes in value and tax was SEK 202m (251) and earnings per share were SEK 1.23 (1.50)
• Equity per share was SEK 59 (65)
“This has been a very good quarter” Christian Hermelin, Fabege’s CEO, says. “Our rental income increased and our running costs fell, thanks to our conscious efforts to increase our net operating income, which has given us a quarterly surplus ratio of a highly respectable 70 per cent. Thanks to historically low interest rates, our property management earnings for the quarter increased by almost 90 per cent on the same quarter last year. Net lettings was positive and few renegotiations took place during the quarter, but those that did made positive contributions to rental value. “
“If I were to summarise, I see stability today and potential in the future. Our portfolio of modern offices in attractive locations gives the company stability, something that has been very evident in our results this year. Our portfolio also has every potential, thanks to good growth locations, to continue to generate value-added gains in the future and thus constitutes a perfect foundation for our business model,” Christian Hermelin concludes.
Fabege AB (publ)
Enclosed: Interim report January-September 2009
For further information, please contact:
Christian Hermelin, President and CEO, phone +46 (0)8-555 148 25, +46 (0)733-87 18 25
Åsa Bergström, Executive Vice President and CFO, phone +46 (0)8-555 148 29, +46 (0)706-66 13 80
Annette Kaunitz, Director of Communications, phone +46 (0)8-555 148 20, +46 (0)708-390 337
Fabege AB (publ) discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was submitted for publication at 08:30 on September 27, 2009.
Fabege AB (publ) är ett av Sveriges ledande fastighetsbolag med inriktning mot kommersiella lokaler och äger fastigheter till ett bok¬fört värde av 29,5 miljarder kronor. Fastighetsbeståndet, som är koncentrerat till
Stockholmsregionen, har ett hyresvärde på helårsbasis uppgående till 2,4 miljarder kronor och en uthyrningsbar yta på 1,4 miljoner kvadratmeter. Fabegeaktien är noterad på Stockholmsbörsen, Large Cap-segmentet.