Stable quarter with heightened activity on the rental market and good net lettings. Renegotiations also made a positive contribution towards the rental value in renegotiated leases at healthy levels. Value growth persisted in the property portfolio, while projects are progressing according to plan.
- Rental income increased to SEK 1,422m (1,407). In an identical property portfolio, income was unchanged compared with the previous year.
- Net operating income amounted to SEK 1,047m (1,046). In an identical property portfolio, net operating income declined by 1 per cent (6).
- The surplus ratio was 74 per cent (74).
- Profit from property management totalled SEK 715m (728).
- Realised and unrealised changes in the value of properties amounted to SEK 1,595m (1,525).
- Net lettings in the first half of the year totalled SEK 56m (20). Net lettings for the second quarter totalled SEK 20m (5).
- Profit after tax for the period was SEK 2,046m (1,559), corresponding to earnings per share of SEK 6.32 (4.73).
"I am pleased with the quarter in several respects, particularly the increased activity in the rental market, which is reflected in our strong net lettings of SEK 56m and in the renegotiations which increased 12 percent. I am optimistic about Q3 and I believe we'll have a quarter with continued positive net lettings, although Q3 is traditionally a weaker quarter.
Fabege has a strong balance sheet, stable customer base and a modern property portfolio in prime locations with plenty of opportunities for development projects that we're ready to harness," said Stefan Dahlbo, CEO of Fabege.
Fabege AB (publ)
Presentation of the report
Stefan Dahlbo, CEO, and Åsa Bergström, CFO, will present the report today at 9:00 am. Follow the presentation via link: https://tv.streamfabriken.com/sv-fabege-q2-2021 or via the following phone numbers: SE: +46 8 566 427 07, UK: +44 333 300 92 73, US+1 833 526 83 74.
A presentation in English will be held at 11:00 am. You can follow this via https://tv.streamfabriken.com/en-fabege-q2-2021 or via the following phone numbers:
Swe: +46 8 519 993 83, UK: +44 333 300 92 70, US: +1 631 913 14 22, pin code: 75 83 25 57#
For further information, please contact:
Stefan Dahlbo, President and CEO, tel. +46 (0)70-353 18 88, firstname.lastname@example.org
Åsa Bergström, Vice President and CFO, tel. +46 (0)70-666 13 18, email@example.com
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 9 July 2021, at 07:00 CET.
This information is also of the type that Fabege AB (publ) is required to disclose according to the Swedish Securities Market Act. The information was released for publication on 9 July 2021 at 07:00 CET.
With a focus on commercial properties, Fabege develops attractive locations in the Stockholm area. We are a partner that is present and - with people in focus while being innovative, responsible and flexible - creates conditions for companies, places and our city to develop. We take a long-term approach in our perspective and ownership. We know that when we create sustainably, we also create value. The Fabege share is listed on Nasdaq Stockholm, in the Large Cap segment. For further information, please visit us at www.fabege.com.
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