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Regulatory press release

Fabege: Interim Report Jan-Sep 2023

Fabege
Download the release

During the period, we saw increased rental income, improved net operating income and a lower vacancy rate. Profit from property management slightly decreased mainly due to higher net interest items. Unrealised changes in value amounted to SEK -5.4bn due to higher yield requirements.

  • Rental income increased to SEK 2,539m (2,251). In an identical property portfolio, income increased with 12 per cent compared with the previous year.

  • Net operating income increased to SEK 1,900m (1,667). In an identical property portfolio, net operating income increased by 13 per cent.

  • The surplus ratio was 75 per cent (74).
  • Contract sales residential amounted to SEK 486m and gross profit amounted to SEK 23m
  • Net interest amounted to -725 (-423).
  • Profit from property management amounted to SEK 1,113m (1,138).
  • Realised and unrealised changes in the value of properties amounted to SEK -5,415m (3,506).
  • Profit after tax for the period amounted to SEK -3,527m (5,105), corresponding to earnings per share of SEK -11.21 (16.05).
  • Net lettings for the period amounted to SEK -3m (69).
  • The equity ratio amounted to 47 per cent (51) and loan-to-value amounted to 42 per cent (36).

"We saw stable earnings with increased rental income and improved operating surplus that almost met increased interest expenses. The interest rate trend has led to higher yield requirements and continued pressure on property values," says Stefan Dahlbo, CEO.

"Access to capital has improved, both via a continued strong banking market and an increasingly strong capital market. However, we note that the activity in the rental market in Stockholm is more cautious during the autumn but with continued stable rent levels," concludes Stefan Dahlbo, CEO.

FabegeAB (publ)

Presentation of the report

Stefan Dahlbo, CEO, and Åsa Bergström, CFO, will present the report today at 09:00am in Swedish. Follow the presentation via link: https://ir.financialhearings.com/swe-fabege-q3-2023 (https://ir.financialhearings.com/swe-fabege-q2-2023)

Dial-in number to the teleconference will be received by registering on the link below. After the registration you will be provided phone numbers and a conference ID to access the conference
https://conference.financialhearings.com/teleconference/?id=200966

A presentation in English will be held at 11:00CET. You can follow this via https://ir.financialhearings.com/eng-fabege-q3-report-2023

Dial-in number to the teleconference will be received by registering on the link below. After the registration you will be provided phone numbers and a conference ID to access the conference
https://conference.financialhearings.com/teleconference/?id=5006046 (https://conference.financialhearings.com/teleconference/?id=200806)

This information is information that Fabege AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation(596/2014). The information was submitted for publication, through the agency of the contact person set out above,
at 19 October 2023, 07:30 CET.

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