• After-tax profit for the period improved by SEK 242m from SEK –81m to SEK 161m, corresponding to earnings per share of SEK 0.98 (–0.49).
• Earnings before tax from Property Management amounted to SEK 189m (46) and from Property Development to SEK 30m (–15).
• Transaction profit amounted to SEK 31m (3).
• Profit from Property Management increased 22 per cent to SEK 181m (148), while rental income declined to SEK 518m (548).
• The equity/assets ratio increased to 33 per cent (32).
“Market has bottomed out! Although we must not exaggerate the upturn in the rental and transaction market, in my mind it is clear that our markets have now turned upwards,” says Christian Hermelin, Fabege’s CEO.
“Also, we expect that ongoing project investments and the increasingly favourable transaction climate, through value growth and capital gains, will contribute to a significant improvement in earnings in 2010,” Christian Hermelin concludes.
Fabege AB (publ)