Year-end report 2006
• Profit after tax was SEK 2,266m (2,666) and diluted earnings per share SEK 23.47 (27.50)
• Rental income totalled SEK 2,343m (2,778)
• A cash dividend of SEK 8.00 per share (7.50) and transfer of all the company's shares in Klövern to the shareholders through a redemption offer. On full acceptance of the redemption offer, a total of around SEK 2.2bn, equivalent to around SEK 22 per share, will be transferred to the shareholders
• A 2:1 share split
• Following the proposed dividend and redemption, the company has an equity/assets ratio in excess of 35 per cent
“Occupancy rate improved by three percentage points to 89 per cent in 2006. We are now seeing the rental market gradually strengthen in our principal markets of the inner city of Stockholm, Solna and Hammarby Sjöstad,” says Christian Hermelin, CEO of Fabege.
“We continued the substantial restructuring of our property stock and the focus on our principal markets during the year. Turnover in our property portfolio was very high, totalling SEK 28bn, of which SEK 12bn was made up of sales and SEK 16bn of purchases,” Hermelin continues.
“With a strong financial position, a good organisation and a well-positioned property stock, we have an excellent base for value-adding management and improvement and also for seizing interesting business opportunities,” he concludes.
Fabege AB (publ)
Attachments: Year-end report 2006 and list of acquired and sold properties
For further information, contact:
Christian Hermelin, CEO, Tel +46 8-555 148 25, +46 733-87 18 25
Roger Johansson, Executive Vice President and CFO, Tel +46 8-555 148 13, +46 70-374 42 85
Mats Berg, Director of Communications, +46 8-555 148 20, +46 733-87 18 20