Year-end report 2010

• After-tax profit for the year improved to SEK 1,697m (425), corresponding to earnings per share of SEK 10.38 (2.59).
• Profit from Property Management declined to SEK 782m (838), and rental income declined to SEK 2,007m (2,194) as a result of net sales of properties.
• Earnings before tax from Property Management amounted to SEK 1,562m (488) and from Property Development to SEK 300m (97).
• Transaction profit amounted to SEK 237m (57).
• The Board of Directors proposes a dividend of SEK 3.00 per share (2.00).

“Fabege reported a positive earnings trend for 2010 and all vital key ratios improved,“ Christian Hermelin Fabege’s CEO says. As a result of the increased activity in Fabege’s lettings market, net letting during the fourth quarter was strong.

“With a strong balance sheet and an attractive project portfolio, a platform is now in place to intensify project volumes and create conditions for new acquisitions with potential for value growth.” 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
Annette Kaunitz, Head of Communications, phone 46 (0)8-555 148 20, 46 (0)708-39 03 37

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 11:50 am on 2 February 2011.

Fabege AB (publ) is one of Sweden’s leading property companies focusing on commercial premises and owns properties with a carrying amount of SEK 27.0bn. The property portfolio, which is concentrated in the Stockholm region, has an annualised rental value of SEK 2.1bn and a lettable area of 1.1m square metres. Fabege’s shares are listed on the Nasdaq OMX Stockholm, Large Cap segment.

Tags: