During the second quarter, the effects of Covid-19 on our earnings became visible through rent rebates and decreased property values. However, our projects progressed as planned, without any larger disruptions. Net letting during the first half of 2020 amounted to
· Rental income decreased to
· Net operating income decreased to
· The surplus ratio was 74 per
· Profit from property management decreased
· Realised and unrealised changes in value amounted to
· After-tax profit for the period amounted to
· Net lettings during the period totalled
· The equity / assets ratio was 55 percent (52) and the loan-to-value ratio was 32 percent (36).
"Of course, the market will look different after the pandemic, but today it is too early to draw any conclusions about customers' changing behaviors. We believe the office will continue to play an important role in creating strong brands, a sense of community and loyalty among employees; as a place for meetings and creativity and and its importance for business development, even if we expect remote working to continue after the pandemic. We are confident that together with our customers, we will develop our offering to respond to the demands of tomorrow at a modern, flexible workplace that can meet the requirements of any situation", comment CEO
Presentation of the report
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More information is available from:
Åsa Bergström, CFO, +46 (0) 8 555 148 29, asa.bergstrom@fabege.se
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We are the 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
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