Fabege: Interim Report Jan-Sep 2024
Rental income and the operating surplus improved in comparison with the previous year. The value changes turned positive during the third quarter. Overall, this meant that earnings before and after tax improved significantly.
- Rental income increased to SEK 2,577m (2,539). In an identical property portfolio, income increased with 5 per cent compared with the previous year.
- Net operating income increased to SEK 1,924m (1,900). In an identical property portfolio, net operating income increased by 4 per cent.
- The surplus ratio was 75 per cent (75).
- Contract sales residential amounted to SEK 230m (486) and gross profit amounted to SEK -17m (23)
- Net interest amounted to SEK -727m (-725).
- Profit from property management amounted to SEK 1,012m (1,113).
- Realised and unrealised changes in the value of properties amounted to SEK -1,232m (-5,415).
- Profit after tax for the period amounted to SEK -698m (-4,419), corresponding to earnings per share of SEK -2.12 (-11.21).
- Net lettings for the period amounted to SEK -85m (-3).
- The equity ratio amounted to 46 per cent (47) and loan-to-value amounted to 43 per cent (42).
- Rental income and operating surplus increased during the period. In a like-for-like property portfolio, rental income rose by 5 per cent compared to the previous year. Lower interest rates are positive for the market and property values rose during the third quarter. It is a good result in a market that continues to be cautious and pending. Although we see increased vacancies in the Stockholm area, rent levels are stable. However, the net letting so far this year is disappointing, comments Stefan Dahlbo, CEO.
Fabege AB (publ)
Presentation of the report
Stefan Dahlbo, CEO, and Åsa Bergström, CFO, will present the report today at 09:00CET in Swedish. Follow the presentation via link: https://ir.financialhearings.com/swe-fabege-q3-report-2024
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://ir.financialhearings.com/swe-fabege-q3-report-2024
A presentation in English will be held at 10:30CET. You can follow this via https://ir.financialhearings.com/eng-fabege-q3-report-2024 (https://ir.financialhearings.com/eng-fabege-q2-report-2024)
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=50048486 (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 22 October2024, 07:30 CET.