Interim Report January–March 2010
• After-tax profit for the period improved by SEK 242m from SEK –81m to SEK 161m, corresponding to earnings per share of SEK 0.98 (–0.49).
• Earnings before tax from Property Management amounted to SEK 189m (46) and from Property Development to SEK 30m (–15).
• Transaction profit amounted to SEK 31m (3).
• Profit from Property Management increased 22 per cent to SEK 181m (148), while rental income declined to SEK 518m (548).
• The equity/assets ratio increased to 33 per cent (32).
“Market has bottomed out! Although we must not exaggerate the upturn in the rental and transaction market, in my mind it is clear that our markets have now turned upwards,” says Christian Hermelin, Fabege’s CEO.
“Also, we expect that ongoing project investments and the increasingly favourable transaction climate, through value growth and capital gains, will contribute to a significant improvement in earnings in 2010,” Christian Hermelin concludes.
Fabege AB (publ)
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 08:00 am CET on 27 April 2010.
Fabege AB (publ) is one of Sweden’s leading property companies focusing on commercial premises. The carrying amount of the company’s property portfolio is approximately SEK 28.3bn. The portfolio is concentrated to the Stockholm region and has an annualised rental value of SEK 2.3bn and a lettable area of 1.3m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.
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