Fabege: Year-end report 2020

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Fabege

04 Feb, 2021, 11:18 GMT

NACKA, Sweden, Feb. 4, 2021 /PRNewswire/ --

Despite the various challenges during the year, we have managed to deliver healthy net operating income, a strong surplus ratio and growth in the value of the portfolio, while maintaining a strong financial position.           

  • Rental income amounted to SEK 2,806m (2,856). The decrease compared with the previous year was mainly due to disposales of properties. In an identical portfolio, rental income rose slightly more than 5 per cent (14).            
  • Net operating income increased to SEK 2,112m (2,144). In an identical portfolio, net operating income rose by 6 per cent (16).           
  • The surplus ratio was 75 per cent (75).           
  • Profit from property management amounted to SEK 1,474m (1,532).           
  • Realised and unrealised changes in the value of properties amounted to SEK 2,764m (5,743).           
  • Net lettings in the fourth quarter totalled SEK -49m (55). Net lettings for the full year totalled SEK -45m (-37).           
  • Profit after tax for the year was SEK 3,167m (6,006), corresponding to earnings per share of SEK 9.65 (18.16).           
  • The Board proposes a dividend of SEK 3.60 per share (3.20) to be paid on two occasions in April and October respectively, each of SEK 1.80 per share. 
  • Our projects are progressing and we completed a couple of acquisitions. I am confident that our focus on Stockholm, and primarily office properties, is a recipe for success for the future as well. Fabege enjoys a strong financial position, which means we are able to cope well even in difficult times, and hopefully harness any opportunities that may arise. Several of our key performance indicators are stronger at the start of 2021 than they were in 2020," comments Stefan Dahlbo, Fabege's CEO.
                 

Presentation of the report

Today at 14.00 CET Stefan Dahlbo CEO, and Åsa Bergström, CFO, will present the report in Swedish. Follow the presentation via webcast or phone: Swe +46 8 566 427 07, UK: +44 33 330 092 70 or US: +1 83 324 984 04.

An English presentation will be held at 15.30 CET. Follow it via webcast or phone: Swe +46 8 566 427 03, UK: +44 33 330 092 74 or US: +1 83 352 683 83. 

For further information, please contact:

Stefan Dahlbo, President and CEO, +46 (0) 8 555 148 10, stefan.dahlbo@fabege.se
Åsa Bergström, Vice President and CFO, +46 (0) 8 555 148 29, asa.bergstrom@fabege.se

This information is of the type that Fabege AB is required to disclose under the EU Market Abuse Regulation. This information was released, through the provision of the above-mentioned contact person, for publication on 4 February 2021, at 12:00 CET.

This information is also of the type that Fabege AB (publ) is required to disclose according to the Swedish Securities Market Act. The information was released for publication on 4 February 2021 at 12:00 CET.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/fabege/r/year-end-report-2020,c3279544

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