Interim report January – September 2015

  • Rental income declined to SEK 1,493m (1,565) due to a smaller property portfolio than in the year-earlier period. In an identical portfolio, income rose approximately 4 per cent.
  • Net operating income declined to SEK 1,080m (1,120). In an identical portfolio, net operating income increased approximately 4 per cent. The surplus ratio was 72 per cent (72).
  • Profit from property management increased to SEK 516m (508). Profit from property management included non-recurring items in associated companies at an expense of SEK 48m.
  • Realised and unrealised changes in value amounted to SEK 1,974m (904) for properties and SEK 111m (neg: 377) for fixed-income derivatives.
  • Profit for the period before tax amounted to SEK 2,637m (1,032). Profit after tax for the period amounted to SEK 2,054m (828), corresponding to SEK 12.42 per share (5.01).
  • Net lettings for the period amounted to SEK 78m (246), following major lettings to, for example, ICA, KPMG and SBAB, and a number of management lettings. The rent levels from renegotiated leases increased an average of 13 per cent.
  • The equity ratio amounted to 39 per cent (38) and the loan-to-value ratio 55 per cent (60).

Strong market paves the way

“We are experiencing a high level of activity in the rental market and our areas are attracting many potential tenants. I am satisfied with the high net lettings and retention rate during the period. We have highly favourable market conditions but it is also the impressive efforts of our organisation that have laid the foundation for the strong earnings,” says Christian Hermelin, CEO of Fabege.

Fabege AB (publ)                                                                                   

For further information, please contact:
Christian Hermelin, CEO of Fabege, Tel: +46 8 555 148 25, +46 733 87 18 25
Åsa Bergström, Deputy CEO and CFO, tel: +46 (0)8 555 148 29, +46 (0)706 66 13 80

This constitutes information that Fabege AB (publ) may be legally obliged to publish under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 08:00 am CET on 20 October 2015.

Fabege AB (publ) is one of Sweden’s leading property companies focusing mainly on letting and managing office premises and property development. Fabege owns properties with a carrying amount of SEK 37.6bn. The property portfolio is concentrated in the Stockholm region and has an annualised rental value of SEK 2.2bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on Nasdaq Stockholm, Large Cap segment. 

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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.