Interim Report January–September 2010
- After-tax profit for the period improved by SEK 889m from SEK 202m to SEK 1,091m, corresponding to earnings per share of SEK 6.67 (1.23).
- Earnings before tax from Property Management amounted to SEK 1,126m (384) and from Property Development to SEK 198m (25).
- Transaction profit amounted to SEK 190m (18).
- Profit from Property Management declined to SEK 600m (624), and rental income declined
to SEK 1,520m (1,647) as a result of net sales of properties. - The equity/assets ratio increased to 37 per cent (32).
“We have again put a solid quarter behind us, during which stable Property Management earnings and growing contributions from the Transaction and Development business areas combined to provide significantly higher overall earnings,” says Christian Hermelin, Fabege’s CEO.
“In contrast to the situation one or two years ago, we can state that we are currently facing an agreeable problem. Risks have been replaced by opportunities and we have to meet the challenge of optimally leveraging them,” Christian Hermelin concludes.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 26 October 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 28.1bn. The portfolio is concentrated to the Stockholm region and has an annualised rental value of SEK 2.2bn and a lettable area of 1.2m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.
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