NACKA, Sweden, Feb 02, 2017 /PRNewswire/ -

• Rental income increased to SEK 2,105m (1,998), primarily as a result of completed project properties generating revenue. In an identical portfolio, income rose by approximately 10 per cent (3).
• Net operating income increased to SEK 1,507m (1,429). In an identical portfolio, net operating income rose by approximately 12 per cent. The surplus ratio was 72 per cent (72).
• Profit from property management was SEK 471m (688). Adjusted for shares in profit of associated companies, which consisted mainly of one off items, profit from property management totalled SEK 895m (782).
• Realised and unrealised changes in value amounted to SEK 8,105m (3,273) in properties and SEK 99m (262) in interest-rate derivatives.
• Profit before tax for the year amounted to SEK 8,680m (4,233). After-tax profit for the year amounted to SEK 7,107m (3,232), corresponding to SEK 42.97 per share (19.54).
• Net lettings totalled SEK 127m (74). The rent levels from renegotiated leases were an average of 23 per cent higher.
• The equity/assets ratio was 46 per cent (39) and the loan-to-value ratio 46 per cent (52).
• The Board proposes a dividend of SEK 4:00 per share (3.50).

"2016 was characterized by good market conditions combined with strong operational delivery and thereby large increases in value.Our healthy sales allow scope for continued project investment and new acquisitions, which will help increase future potential," commented Fabege's CEO Christian Hermelin.

Fabege AB (publ)

For further information, please contact: 

Christian Hermelin,
CEO, Fabege,
Tel +46 (0)8-555-148-25, +46 (0)733-87-18-25

Åsa Bergström,
Vice President and CFO,
Tel +46 (0)8-555-148-29, +46 (0)706-66-13-80

This information is information that Fabege AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 12:00 CET on 2 February 2016.

Fabege is a property company focusing on urban development and commercial properties. We work with strategic partners to develop attractive and sustainable city districts with modern offices, residential units and a wide range of services. We have a long-term perspective and approach to ownership, and we are passionate about creating the right conditions for everyone living, working and spending time in our areas. We can be found in a select number of fast-growing submarkets in the Stockholm area. Fabege's shares are listed on Nasdaq Stockholm, in the Large Cap segment. For further information, visit www.fabege.com

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SOURCE Fabege