Strong net lettings and development laid foundation for highly favourable earnings
- Net lettings amounted to SEK 130m (27).
- Profit from property management amounted to SEK 564m (782), and rental income amounted to SEK 1,804m (2,007). The year-on-year change was due to net sales of properties and higher market interest rates.
- Unrealised changes in value amounted to SEK 1,093m (843) on properties and SEK –397m (106) on interest-rate derivatives.
- After-tax profit for the year amounted to SEK 1,141m (1,697), corresponding to earnings per share of SEK 7.01 (10.38).
- The equity-assets ratio remained unchanged at 39 per cent and the loan-to-value ratio declined to 57 per cent.
- The Board of Directors proposed a dividend of SEK 3:00 per share (3.00).
“Positive net lettings and development of the property portfolio enabled us to create the foundation for strong income and value growth ahead ,“ Christian Hermelin Fabege’s CEO says. I am particularly pleased to see that our employees’ initiatives make a difference.
“Although uncertainty concerning the economic outlook is considerable, Fabege is well equipped with a strong balance sheet and a property portfolio in good locations with favourable development potential,” Christian Hermelin concludes.
Fabege AB (publ)
For further information, please contact:
Christian Hermelin, CEO, phone 46 (0)8 555 148 25, 46 (0)73 387 18 25
Åsa Bergström, Deputy CEO and CFO, phone 46 (0)8 555 148 29, 46 (0)70 666 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 11.00 am on 2 February 2012.
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 29.2bn. 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.
Tags: