Improved management result and continued good market
- Rental income increased to SEK 2,132m (1,864). In an identical portfolio, income rose by approximately 14 per cent.
- Net operating income increased to SEK 1,605m (1,389). In an identical portfolio, net operating income rose by approximately 17 per cent.
- The surplus ratio was 75 per cent (75).
- Profit from property management increased with 27 per cent to SEK 1,138m (895).
- Realised and unrealised changes in value amounted to SEK 3,895m (6,213)
- Net lettings during the period totalled SEK -92m (152). Average rental increase in renegotiation 18 per cent (30).
- After-tax profit for the period amounted to SEK 3,504m (6,265), corresponding to SEK 10.60 per share (18.94).
- ” Our profit from property management, which reflects the ongoing cash flow in operations increased by as much as 27 per cent compared to the same period last year. I am also satisfied that we have been able to harness opportunities both for extended fixed-term maturity periods and longer fixed-rate periods,” comments Stefan Dahlbo, CEO.
- ” Although much indicates that the economy is slowing down, Stockholm is facing continued growth, which benefits our business. We have a growing portfolio and stable low interest rates. Our attractive building rights in good locations give us the opportunity for continued value-creating project development,” comments Stefan Dahlbo, CEO.
Fabege AB (publ)
Presentation of the report
Today at 09:00 CET Stefan Dahlbo, CEO and Åsa Bergström, CFO present the report at Operaterrassen Stockholm. The Swedish presentation can be followed via webcast. An English conference call will also be held at 11:00 am CET. Follow it via webcast or phone: UK: + 44333300 9274, US: + 1833823 0590,
SE + 46 8566 42704.
More information is available from:
Stefan Dahlbo, CEO, +46 8 555 148 10 or firstname.lastname@example.org
Åsa Bergström, CFO, +46 8 555 148 29 or email@example.com
This information is information that Fabege AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 07:30 CET on 21 October 2019.
This information is also such information that Fabege AB is obliged to publish in accordance with the Swedish Securities Market Act. The information was submitted for publication on 21 October 2019, at 07:30 CET.
Fabege is a property company focusing on city district development and commercial properties. We develop attractive and sustainable districts with modern offices, housing and a broad range of services - together with strategic partners. Both our perspective and approach to ownership are long term and our passion is creating the right conditions for all those living, working and visiting our areas. We have a presence in a limited number of high-growth submarkets in the Stockholm region. Fabege’s shares are listed on Nasdaq Stockholm, in the Large Cap segment. For more information, www.fabege.com