Fabege: Strong net lettings and development laid foundation for highly favourable earnings

NACKA, Sweden--()--Regulatory News:

Fabege (STO:FABGA):

  • Rental income increased to SEK 1,869m (1,804). The year-on-year change was due to growth through positive net lettings and completed projects.
  • Realised and unrealised value changes amounted to SEK 1,576m (1,266) for properties and SEK –190m (–397) for fixed-income derivatives.
  • The profit for the year before tax increased to SEK 2,032m (1,417). After-tax profit for the year amounted to SEK –88m (1,141), corresponding to earnings per share of SEK –0.54 (7.01), following a provision of SEK 1,900m for ongoing tax matters.
  • Net lettings amounted to SEK 141m (130).
  • The Board proposes a dividend of SEK 3.00 per share (3.00).

“Overall, 2012 was a successful year for all of Fabege’s areas of operation. Profit from property management improved and both the management portfolio and development portfolio contributed to favourable value growth,“ Christian Hermelin Fabege’s CEO says.

“Although uncertainty concerning the economic outlook is considerable, Fabege is financial well equipped with a property portfolio in good locations with favourable development potential,” Christian Hermelin concludes.

Fabege AB (publ)

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 11.00 am on 4 February 2013.

Fabege AB (publ) is one of Sweden’s leading property companies focusing mainly on letting and managing office premises and property development. The carrying amount of the company’s property portfolio is approximately SEK 31.6bn. The portfolio is concentrated in the Stockholm region and has an annualised rental value of SEK 2.3bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.

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Contacts

Christian Hermelin, CEO
phone 46 (0)8 555 148 25, 46 (0)73 387 18 25
or
Åsa Bergström
Deputy CEO and CFO
phone 46 (0)8 555 148 29, 46 (0)70 666 13 80

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Contacts

Christian Hermelin, CEO
phone 46 (0)8 555 148 25, 46 (0)73 387 18 25
or
Åsa Bergström
Deputy CEO and CFO
phone 46 (0)8 555 148 29, 46 (0)70 666 13 80