Year-end report January – December 2015

• Rental income declined to SEK 1,998m (2,087) due to a smaller property portfolio than in 2014. In an identical portfolio, income rose slightly more than 3 per cent. 
• Net operating income declined to SEK 1,429m (1,485). In an identical portfolio, net operating income rose slightly more than 3 per cent. The surplus ratio was 72 per cent (71). 
• Profit from property management increased to SEK 688m (682).  
• Realised and unrealised changes in value amounted to SEK 3,273m (1,639) for properties and to SEK 262m (-473) for fixed-income derivatives. 
• Profit before tax for the year amounted to SEK 4,233m (1,867). Profit  after tax for the year was SEK 3,232m (1,738), corresponding to earnings per share of SEK 19.54 (10.51). 
• Net lettings amounted to SEK 74m (243), following major lettings to tenants such as Telenor Sverige, ICA, KPMG and SBAB, and a number of management lettings. The rent levels from renegotiated leases increased an  average of 12 per cent. 
• The equity/assets ratio was 39 per cent (38) and the loan-to-value ratio 52 per cent (60). 
• The Board proposes a dividend of SEK 3.50 per share (3.25). 

Fabege delivers record results

“Fabege had the capacity and driving force to capitalise on the favourable conditions in the market. Successively during the year, we renegotiated rents at increasingly higher levels, we signed leases with new customers and we continued work to make our property management and our value creation projects more efficient. As a result of all of this, we paved the way for the strong value growth that is now visible in our earnings,” says Christian Hermelin, CEO Fabege. 

Fabege AB (publ)

For further information, please contact:

Christian Hermelin, President and CEO of Fabege, phone 46 (0)8-555 148 25, 46 (0)733-87 18 25
Åsa Bergström, Vice President and CFO, phone 46 (0)8-555 148 29, 46 (0)706-66 13 80

This constitutes information that Fabege AB (publ)is legally obliged to publish under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at the above date and time.

Fabege is 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. For more information,  www.fabege.com

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