Profit after tax for the period amounted to SEK 1,535m (563), corresponding to SEK 9.28 per share (3.40). The surplus ratio rose to 72 per cent (71), a record-high first-half-year figure. Profit from property management increased 16 per cent and value growth in both the property management portfolio and the project portfolio contributed to the strong earnings.
During the period, Fabege’s investment-property portfolio contributed to the favourable earnings through both a positive cash flow and value growth. Growth in net asset value was healthy, with EPRA NAV rising SEK 15 year-on-year to SEK 102 per share. Net lettings totalled SEK 51m in the first half year
“Fabege’s focus on city district development has been successful. The recently acquired project properties from Catena in conjunction to Arenastaden match this focus well and are an exciting component in the effort for continued value generation. The market remains generally strong with high demand for sustainable modern offices in attractive locations served by trains,” says Christian Hermelin, CEO of Fabege.
Fabege AB (publ)
For further information, please contact:
Christian Hermelin, CEO of Fabege, phone +46 (0)8-555 148 25, +46 (0)733-87 18 25
Åsa Bergström, Deputy CEO and CFO, phone +46 (0)8-555 148 29, +46 (0)706-66 13 80
This constitutes information that Fabege AB (publ) may be legally obliged to publish under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 8:02 pm (CET) on 6 July 2015.
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 36.4bn. The 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 OMX Stockholm, Large Cap segment.