Record-high surplus ratio and net lettings
During the second quarter, two major project lettings were signed with TeliaSonera and SEB, both in Arenastaden. The leases contributed to record high net lettings, amounting to SEK 258m, for the first six months of the year. In addition, the surplus ratio amounted to a solid 71 per cent.
Christian Hermelin, CEO of Fabege, comments on the first half of 2014:
It is gratifying that the first six months resulted in the highest net lettings in Fabege’s history. This bodes well for continued value creation and Arenastaden’s position as a modern and attractive workplace district is further strengthened. I am also pleased that the transaction gains and value growth in both the property management portfolio and project portfolio contributed to strengthening results for the operation.
We look forward to a higher level of activity in both project operations and the transaction market. With the prevailing favorable financial climate and combined with healthy demand in the rental market, Fabege has all the prerequisites to be able to deliver excellent results in 2014, with contributions from all parts of the operation.
Fabege AB (publ)
For further information, please contact:
Christian Hermelin, President and CEO of Fabege, tel: +46 (0)8-555 148 25, +46 (0)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 8:02 am CET on 4 July 2014.
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 33.3bn. The property portfolio, which is concentrated in the Stockholm region, has an annualised rental value of SEK 2.3bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on NASDAQ OMX Stockholm, Large Cap segment.
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