Interim report January–March 2015

January–March 2015

  · Rental income amounted to SEK 502m (513). In an identical portfolio, income
rose approximately 9 per cent.
  · Net operating income rose to SEK 350m (349). In an identical portfolio, net
operating income increased approximately 10 per cent. The surplus ratio rose to
70 per cent (68).
  · Profit from property management increased 12 per cent to SEK 168m (150).
  · Realised and unrealised changes in value amounted to SEK 708m (295) for
properties and a negative SEK 57m (neg: 141) for fixed-income derivatives.
  · Profit before tax for the period amounted to SEK 886m (330). Profit after
tax for the period was SEK 705m (240), corresponding to SEK 4.26 per share
(1.45).
  · Net lettings for the period amounted to SEK 12m (17) following a major
letting to SBAB and a number of management lettings. The rent levels for all
renegotiated leases increased by an average of 14 per cent.
  · The adjusted equity/assets ratio was 39 per cent and the adjusted loan-to
-value ratio 56 per cent.

Favourable performance during the quarter

”Fabege’s operations developed well during the first quarter and we are now
seeing more tangible rental growth in all of our areas. The strong market
conditions have contributed to healthy changes in value, and we can state that
yield requirements continue to decline. Fabege’s property portfolio favourably
matches customer requirements for modern and sustainable offices in attractive
locations with access to rail services and we are looking forward to continued
healthy development,” says Christian Hermelin, CEO of Fabege.

Fabege AB (publ)
For further information, please contact:
Christian Hermelin, President and CEO of Fabege, phone 46 (0)8-555 148 25, 46
(0)733-87 18 25
Åsa Bergström, Vice President and CFO, phone 46 (0)8-555 148 29, 46 (0)706-66 13
80

This constitutes information that Fabege AB (publ) may be legally obliged to
publish under the Securities Market Act and/or the Financial Instruments Trading
Act. The information was released for publication on 23 April 2015 at 8:00 am
CET.
Fabege AB (publ) is one of Sweden’s leading property companies focusing mainly
on letting and managing office premises and property development. Fabege owns
properties with a carrying amount of SEK 33.8bn. The portfolio is concentrated
in the Stockholm region and has an annualised rental value of SEK 2.2bn and a
lettable area of 1m sqm. Fabege’s shares are listed on NASDAQ OMX Stockholm,
Large Cap segment.