Year-end report 2020

Despite the various challenges during the year, we have managed to deliver healthy net operating income, a strong surplus ratio and growth in the value of the portfolio, while maintaining a strong financial position.
 

• Rental income amounted to SEK 2,806m (2,856). The decrease compared with the previous year was mainly due to disposales of properties. In an identical portfolio, rental income rose slightly more than 5 per cent (14).
• Net operating income increased to SEK 2,112m (2,144). In an identical portfolio, net operating income rose by 6 per cent (16).
• The surplus ratio was 75 per cent (75).
• Profit from property management amounted to SEK 1,474m (1,532).
• Realised and unrealised changes in the value of properties amounted to SEK 2,764m (5,743).
• Net lettings in the fourth quarter totalled SEK −49m (55). Net lettings for the full year totalled SEK −45m (−37).
• Profit after tax for the year was SEK 3,167m (6,006), corresponding to earnings per share of SEK 9.65 (18.16).
• The Board proposes a dividend of SEK 3.60 per share (3.20) to be paid on two occasions in April and October respectively, each of SEK 1.80 per share.
   

- Our projects are progressing and we completed a couple of acquisitions. I am confident that our focus on Stockholm, and primarily office properties, is a recipe for success for the future as well. Fabege enjoys a strong financial position, which means we are able to cope well even in difficult times, and hopefully harness any opportunities that may arise. Several of our key performance indicators are stronger at the start of 2021 than they were in 2020,” comments Stefan Dahlbo, Fabege’s CEO.
 

Fabege AB (publ)
 

Presentation of the report

An English presentation will be held at 15.30 CET. Follow it via webcast or phone: Swe +46 8 566 427 03, UK: +44 33 330 092 74 or US: +1 83 352 683 83. 

This information is of the type that Fabege AB is required to disclose under the EU Market Abuse Regulation. This information was released, through the provision of the above-mentioned contact person, for publication on 4 February 2021, at 12:00 CET.

This information is also of the type that Fabege AB (publ) is required to disclose according to the Swedish Securities Market Act. The information was released for publication on 4 February 2021 at 12:00 CET.

Stefan Dahlbo, President and CEO, +46 (0) 8 555 148 10, stefan.dahlbo@fabege.se
Åsa Bergström, Vice President and CFO, +46 (0) 8 555 148 29, asa.bergstrom@fabege.se

With a focus on commercial properties, Fabege develops attractive locations in the Stockholm area. We are a partner that is present and – with people in focus while being innovative, responsible and flexible – creates conditions for companies, places and our city to develop. We take a long-term approach in our perspective and ownership. We know that when we create sustainably, we also create value. The Fabege share is listed on Nasdaq Stockholm, in the Large Cap segment. For further information, please visit us at www.fabege.com.

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