Fabege has decided to reduce its loan-to-value ratio target and to also increase its surplus ratio target.
Fabege’s long-term target for a loan-to-value ratio of a maximum of 60 per cent has now been changed to not exceed 55 per cent.
“We are reducing our financial risk and strengthening the balance sheet, thereby generating favourable prerequisites in order to capitalise on the potential opportunities in the market,” says Christian Hermelin, CEO of Fabege.
Furthermore, Fabege is increasing the ambition for one of its most important operational targets, the surplus ratio. From previously amounting to 70 per cent, the surplus ratio is to amount to 75 per cent within a five-year period.
“The surplus ratio has steadily improved in recent years and our new target is in line with the engagement in a structured customer effort. We aim to reduce vacancies and also continue to focus on cost-effectiveness. The fact that many customers choose to remain in our premises, combined with an increasingly modern portfolio, means that we are now ready for a more vigorous target for a higher surplus ratio,” continues Christian Hermelin, CEO of Fabege.
Fabege AB (publ)
For further information, please contact:
Christian Hermelin, CEO of Fabege, Tel: +46 8 555 148 25, +46 733 87 18 25
Åsa Bergström, CFO, Tel: +46 (0)8-555 148 29, +46 (0)70-666 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 time as above.
Fabege AB (publ) is one of Sweden’s leading property companies focusing mainly on letting and managing office premises and property development. Fabege owns properties with a carrying amount of SEK 37.6bn. The property portfolio is concentrated in the Stockholm region and has an annualised rental value of SEK 2.2bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on Nasdaq Stockholm, Large Cap segment. For more information, visit fabege.se