There was heightened activity on the rental market in the third quarter, and net lettings were very strong. The period saw an increase in rental income and improved net operating income compared with the previous year. Value growth in the property portfolio was healthy, while projects are progressing according to plan.
- Rental income increased to SEK 2,143m (2,103). In an identical property portfolio, income rose by 1 per cent year on year.
- Net operating income increased to SEK 1,616m (1,584). In an identical portfolio, net operating income rose by 1 per cent (7).
- The surplus ratio was 75 per cent (75).
- Profit from property management grew to SEK 1,119m (1,104).
- Realised and unrealised changes in the value of properties amounted to SEK 2,475m (1,941).
- Net lettings totalled SEK 130m (4). Net lettings for the third quarter amounted to SEK 74m (-16).
- Profit after tax for the period increased to SEK 3,142m (2,133), corresponding to earnings per share of SEK 9.72 (6.50).
- "It has been a strong quarter on several fronts, a very strong net letting of SEK 130, of which 74 during the third quarter, increased net operating income and continued positive revaluations in the property portfolio. We completed one of the largest office lettings of the year in Sweden, with Alfa Laval's decision to move its operations to Flemingsberg, and in early October we completed a strategic acquisition of SHH Bostad, consolidating our position as an urban developer in Greater Stockholm.
- "We are forging ahead with a strong balance sheet, generating opportunities to create additional shareholder value. With our stable customer base, modern property portfolio in prime locations and a strong market behind us, we are confident about the fourth quarter 2021 and the next few years," said Stefan Dahlbo, Fabege's CEO.
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 this link https://tv.streamfabriken.com/sv-fabege-q3-2021 or via the following phone numbers: SE: +46 8 566 427 07, UK: +44 333 300 92 60, US +1 833 823 05 86.
A presentation in English will be held at 11:00 am. You can follow this via https://tv.streamfabriken.com/en-fabege-q3-2021 or via the following phone numbers:
Swe: +46 8 505 583 69 UK: +44 333 300 92 67 US: +1 833 249 84 03
For further information, please contact:
Stefan Dahlbo, President and CEO, tel. +46 (0)8-555 148 10, email@example.com
Åsa Bergström, Vice President and CFO, tel. +46 (0)8-555 148 29, firstname.lastname@example.org
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 20 October 2021, at 07:00 CET.
With a focus on commercial properties, Fabege develops attractive locations in the Stockholm area. We are a partner with a prominent presence that puts people front and centre. Our innovative, responsible and flexible ethos enables companies, locations and our city to develop and thrive. 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 www.fabege.se.
(c) 2021 Cision. All rights reserved., source Press Releases - English