• Strong growth in Stockholm resulted in strong net lettings of SEK 133m • Profit after tax totalled SEK 1,178m (1,340) and diluted earnings per share was SEK 6.39 (6.91) • Rental income totalled SEK 1,534m (1,799). The decrease is entirely due to net sale of properties • Surplus ratio developed strongly and was 63% (59)
"The very good growth in Fabege's principal markets led to a continued high level of demand for premises. I am very satisfied with the third quarter, which was our strongest to date with net lettings of SEK 66m," says Christian Hermelin, CEO of Fabege.
"As a result of both increased income and reduced operating expenses in our concentrated property stock, the surplus ratio for the whole stock rose to 67% (64) during the third quarter," he continues.
"It is very pleasing to note that profit for the third quarter was on a par with the corresponding period of the previous year, despite a substantially smaller property stock."
"We have one of the market's strongest and most interesting project and improvement portfolios, and decisions were taken on investments totalling around SEK 2bn during the period. We have substantially increased the pace and volume of projects in order to exploit the potential of economic growth in Stockholm," he concludes.
Fabege AB (publ)
Annex: Interim report January-September 2007