Interim Report January–March 2011

• After-tax profit for the period improved to SEK 378m (161), corresponding to earnings per share of SEK 2.32 (0.98).
• Profit from Property Management declined to SEK 113m (181), and rental income declined to SEK 446m (518) as a result of net sales of properties and higher market interest rates.
• Earnings before tax from Property Management amounted to SEK 348m (237) and from Property Development to SEK 56m (40).
• The equity/assets ratio amounted to 39 per cent (33).

“The first quarter was a good period for Fabege. The trend in the rental market remained favourable, demand for modern office premises in prime locations is still healthy and rent levels are rising moderately,” says Christian Hermelin, Fabege’s CEO.

“Given the positive market trend in Stockholm, I am convinced that declining vacancy rates and increased project investments will contribute to favourable income growth in Fabege,” Christian Hermelin concludes.

Fabege AB (publ)

For further information, please contact:
Christian Hermelin, CEO, phone 46 (0)8-555 148 25, 46 (0)733-87 18 25
Åsa Bergström, Deputy CEO and CFO, phone 46 (0)8-555 148 29, 46 (0)706-66 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 08:00 am CET on 3 May  2011.

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 27.7bn. The portfolio is concentrated to the Stockholm region and has an annualised rental value of SEK 2.1bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.

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