Year-end report 2021

Increased rental income, improved profit from property management and positive changes in value delivered strong earnings in 2021. Net lettings of SEK 162m was one of the best performances ever.

  • Rental income increased to SEK 2,889m (2,806). In an identical portfolio, rental income rose slightly more than 2 per cent (5).
  • Net operating income increased to SEK 2,185m (2,112). In an identical portfolio, net operating income rose by 3 per cent (6). The surplus ratio was 76 per cent (75).
  • Residential development sales amounted to SEK 62 million and gross profit amounted to SEK -9 million.
  • Profit from property management increased to SEK 1,537m (1,474).
  • Realised and unrealised changes in the value of properties amounted to SEK 4 641m (2,764).
  • Net lettings for the full year totalled SEK 162m (−45).
  • Profit after tax for the year was SEK 5,400m (3,167), corresponding to earnings per share of SEK 16.73 (9.65).
  • The Board of Directors proposes a dividend of SEK 4.00 per share (3.60) to be paid on four occasions quarterly in the amount of SEK 1.00 per share on each occasion.

The year 2021 can be summarised as a good year, both for us at Fabege and for our customers. We have seen an active rental market with many inquiries, negotiations and signed leases. The property market has been robust with falling yield requirements and strong interest in the properties that have come up for sale. I am pleased that we have seen increased rental income, stronger net operating income and good value growth in our property portfolio.”

I am looking forward with confidence to 2022. We have a strong financial position. We are characterised by stability with a portfolio of modern properties in attractive locations, stable customers, dedicated employees and good growth opportunities through our development rights and projects. The acquisition of SHH Bostad has strengthened us within urban development when we now also include residential and local authority properties in the portfolio,” says Stefan Dahlbo, CEO Fabege.

Fabege AB (publ)

Presentation of the report
Today at 14.00 CET Stefan Dahlbo CEO, and Åsa Bergström, CFO, will present the report in Swedish. Follow the presentation via webcast or phone: Swe +46 8 505 583 72,UK: +44 333 300 92 74 or US: +164 672 249 56.

An English presentation will be held at 15.00 CET. Follow it via webcast or phone:Swe +46 8 566 427 07, UK: +44 333 300 92 71 orUS: +164 672 249 04.

For further information, please contact:
Stefan Dahlbo, President and CEO, +46 (0) 8 555 148 10,
Åsa Bergström, Vice President and CFO, +46 (0) 8 555 148 29,

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 7 February 2022, 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 7 February 2022 at 12:00 CET.

7 Feb 2022 12:00 PM