Interim-report January-September 2020

The third quarter was characterised by a continued uncertain rental market, a strong recovery in the capital markets and a more positive view of property valuations. Fabege reported stable rental income and positive changes in value both in the quarter and for the entire period.
    

  • Rental income amounted to SEK 2,103m (2,132). The decrease was mainly due to property sales and net SEK 26m in granted discounts as a result of the covid-19 pandemic. In an identical portfolio, income rose by approximately 5 per cent (14).
  • Net operating income amounted to SEK 1,584m (1,605). In an identical portfolio, net operating income rose by approximately 7 per cent (17).
  • The surplus ratio was 75 per cent (75).
  • Profit from property management amounted to SEK 1 104m (1 138).
  • Realised and unrealised changes in value amounted to SEK 1,941m (3,865)
  • After-tax profit for the period amounted to SEK 2,133m (3,504), corresponding to SEK 6.50 per share (10.60).
  • Net lettings during the period totalled SEK -4m (-92).
  • The equity / assets ratio was 52 percent (51) and the loan-to-value ratio was 35 percent (36).

I am happy that Fabege stands strong in the crisis we are all going through. The performance shows a strong company with stable operations. Meanwhile, we are now focusing on the day-to-day letting discussions with the goal of improving our net lettings and the occupancy rate. We are convinced that offices will be needed more than ever in order to develop companies, build corporate culture as well as a sense of togetherness. Our goal is to always be a good partner for our customers, to listen and to develop together”, comment CEO Stefan Dahlbo.

Fabege AB (publ)


Presentation of the report
Today at 09:00 CET Stefan Dahlbo, CEO and Åsa Bergström, CFO present the report. The Swedish presentation can be followed via webcast or phono: SE: +46 850 558 373 UK: +44 333 300 92 65 US: +1 833 526 83 96

An English conference call will also be held at 11:00 am CET. Follow it via webcast or phono:
UK: +44 333 300 92 62 US: +1 833 823 05 87 SE: +46 8 505 583 69

More information is available from:
Stefan Dahlbo, CEO, +46 (0) 8 555 148 10, stefan.dahlbo@fabege.se
Åsa Bergström, CFO, +46 (0) 8 555 148 29, asa.bergstrom@fabege.se



This information is information that Fabege AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 07:30 CET on October 20 2020.



We are the 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. For more information, please visit us at: www.fabege.com

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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.

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Quotes

I am happy that Fabege stands strong in the crisis we are all going through. The performance shows a strong company with stable operations. Stefan Dahlbo, CEO
Stefan Dahlbo, CEO