Interim Report Jan–Jun 2024

Increased rental income and improved net operating income were offset by higher interest expenses. Lower negative value changes in the property portfolio meant that results before and after tax improved significantly.

  • Rental income increased to SEK 1,731m (1,685). In an identical property portfolio, income increased with 8 per cent compared with the previous year.
  • Net operating income increased to SEK 1,269m (1,241). In an identical property portfolio, net operating income increased by 8 per cent.
  • The surplus ratio was 73 per cent (74).
  • Contract sales residential amounted to SEK 142m (308) and gross profit amounted to SEK -5m (27)
  • Net interest amounted to SEK -486m (-460).
  • Profit from property management amounted to SEK 659m (703).
  • Realised and unrealised changes in the value of properties amounted to SEK -1,461m (-3 824).
  • Profit after tax for the period amounted to SEK -682m (-2,535), corresponding to earnings per share of SEK -2.17 (-8.06).
  • Net lettings for the period amounted to SEK -74m (22).
  • The equity ratio amounted to 46 per cent (47) and loan-to-value amounted to 43 per cent (42).

– A stable result overall, even though the negative net lettings in the first two quarters is a disappointment. The Stockholm market is generally showing stable rent levels. We are seeing slightly better activity in the rental market, but long lead times for completed transactions, says Stefan Dahlbo, CEO.

– It is positive that the transaction market has come back to life. We saw several transactions in the CBD and in the outskirts with yield requirements that confirm our valuations, concludes Stefan Dahlbo, CEO.

FabegeAB (publ)

Presentation of the report

Stefan Dahlbo, CEO, and Åsa Bergström, CFO, will present the report today at 09:00CET in Swedish. Follow the presentation via link: https://ir.financialhearings.com/swe-fabege-q2-rapport-2024

Dial-in number to the teleconference will be received by registering on the link below. After the registration you will be provided phone numbers and a conference ID to access the conference
https://conference.financialhearings.com/teleconference/?id=5003441

A presentation in English will be held at 10:30CET. You can follow this via https://ir.financialhearings.com/eng-fabege-q2-report-2024

Dial-in number to the teleconference will be received by registering on the link below. After the registration you will be provided phone numbers and a conference ID to access the conference
https://conference.financialhearings.com/teleconference/?id=5001832

This information is information that Fabege AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation(596/2014). The information was submitted for publication, through the agency of the contact person set out above,
at 5 July 2024, 07:00 CET.

5 Jul 2024 7:00 AM

For more information

Stefan Dahlbo, President and CEO, tel. +46 (0)70-353 18 88, stefan.dahlbo@fabege.se
Åsa Bergström, Vice President and CFO, +46 (0) 8 555 148 29, asa.bergstrom@fabege.se

Download Q2 2024 Full report (PDF) Download press release (pdf)