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Interim Report January-March 2021

The first quarter was characterised by stable revenue, higher winter-related costs and continued value growth in the property portfolio. We signed a major 12-year lease with Convendum which resulted in positive net lettings. The volume of renegotiations remained low but contributed positively to the rental value in renegotiated leases by 12 per cent. Our projects progressed according to plan.  

  • Rental income amounted to SEK 707m (711). In an identical portfolio, rental income decreased by approximately 1 per cent (+6). The decrease compared to the previous period was mainly due to properties that changed to projects and also due to provisions made in connection with the pandemic.
  • Net operating income amounted to SEK 506m (520). In an identical portfolio, net operating income decreased by approximately 4 per cent (+9).
  • The surplus ratio was 72 per cent (73).
  • Profit from property management amounted to SEK 346m (369).
  • Realised and unrealised changes in value amounted to SEK 514m (1,854) in properties.
  • After-tax profit for the period amounted to SEK 863m (1,574), corresponding to SEK 2.64 per share (4.78).
  • Net lettings during the period totalled SEK 36m (15).
  • The equity / assets ratio was 51 percent (52) and the loan-to-value ratio was 35 percent (35).

“Fabege has a strong balance sheet, a stable customer base, a good property portfolio in great locations and many development opportunities. During the quarter, we utilised our strength to repurchase almost 3 million shares. All with the ambition of creating additional shareholder value.”, says Stefan Dahlbo, CEO Fabege.

Presentation of the report
Today at 09:00 CET Stefan Dahlbo, CEO and Åsa Bergström, CFO will present the report. The Swedish presentation can be followed via webcast or phone:

  • SE: +46 8 566 427 07
  • UK: +44 33 330 090 32
  • US: +1 83 324 984 06

An English conference will also be held at 11:00 am CET. Follow it via audiocast or phone:

  • SE +46 8 566 427 03
  • UK: +44 33 330 090 30
  • US: +1 83 352 683 95

Fabege AB (publ)

For further information, please contact:
Stefan Dahlbo, President and CEO, +46 (0) 8 555 148 10, stefan.dahlbo@fabege.se
Åsa Bergström, Vice President and CFO, +46 (0) 8 555 148 29, asa.bergstrom@fabege.se

This information is of the type that Fabege AB is required to disclose under the EU Market Abuse Regulation. This information was released, through the provision of the above-mentioned contact person, for publication on 26 April 2021, at 07:30 am CET.

26 Apr 2021 7:30 AM
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