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26 Oct 2016 - 11:20:01

Fabege: Increasing Rental Growth and Rising Values

NACKA, Sweden--(BUSINESS WIRE)--Regulatory News:

Fabege (STO:FABG)

Profit after tax for the period increased to SEK 4,346m (2,054),

corresponding to earnings per share of SEK 26.28 (12.42). Profit before

tax for the period rose to SEK 5,166m (2,637). Rental income amounted to

SEK 1,573m (1,493) and net operating income to SEK 1,125m (1,080. In an

identical portfolio, rental income rose by around 9 per cent and net

operating income increased by roughly 10 per cent. The average yield

requirement declined during the period to a rounded off figure of 4.70

per cent (4.94 at year-end).

The effect of new lettings and renegotiations at good levels has

gradually had a greater impact on valuations during the year.

All three parts of the business model contributed positively to

earnings. Property Management generated net operating income of SEK

1,044m (1,035), corresponding to a surplus ratio of 73 per cent (73).

The occupancy rate property resale was 94 per cent (92). Profit from property commercial real estate for lease management

was SEK 663m (515). Unrealised changes in the value of properties

amounted to SEK 3,312m (1,631).

Property Development reported net operating income of SEK 81m (45),

making a surplus ratio of 56 per cent (58). Earnings from property

management totalled SEK -26m (1). Unrealised changes in the value of

properties amounted to SEK 1,166m (339).

Transactions realised changes in value of SEK 182m (4) through property

sales during the period.

- The favourable conditions, with rising rent levels, falling yield

requirements and persistently very low interest rates are enduring, and

we are seeing continued strong demand and rising values for quality

properties, which is also reflected in earnings for the period, comments

Christian Hermelin, CEO Fabege.

Fabege AB (publ)

This information is information that Fabege AB is obliged to make public

pursuant to the EU Market Abuse Regulation. The information was

submitted for publication, through the agency of the contact person set

out above, at 08:02 CET on October 20 2016.

Fabege AB (publ) is one of Sweden's leading property companies focusing

on letting and managing office premises as well as city district

development. Fabege owns properties with a total carrying amount of SEK

44.7bn. The property portfolio, which is concentrated in the Stockholm

region, has a rental value on an annualised basis amounting to SEK 2.3bn

and a lettable area of 1.1 million sqm. Fabege's shares are listed on

Nasdaq OMX Stockholm, in the Large Cap segment. For further information,


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