- Rental income amounted to SEK 513m (513). In an identical portfolio, income rose slightly less than 1 per cent.
- Net operating income rose about 6 per cent to SEK 349m (330). The surplus ratio increased to 68 per cent (64).
- Profit from property management rose 11 per cent to SEK 150m (135).
- Realised and unrealised changes in value on properties amounted to a gain of SEK 295m (299) and SEK -141m (188) on interest-rate derivatives.
- Profit before tax for the period amounted to SEK 330m (620). The decline was due entirely to higher deficit value in the derivatives portfolio. Profit after tax for the period wasSEK 240m (516), corresponding to SEK 1.45 per share (3.14). Tax on profit for the year includes SEK 72m for an increase in the provision for ongoing tax cases.
- Net lettings for the quarter amounted to SEK 17m (5). The rent levels from all renegotiated leases increased by an average of 5 per cent.
“Fabege started the year with continued value growth in both the property management portfolio and the project portfolio. All parts of the business model – property management, property development and transaction – contributed to the results. This confirms that our way of generating business works well,” says Christian Hermelin, CEO of Fabege.
Fabege AB (publ)