Interim report January – March 2016

  · Rental income increased to SEK 519m (502) as a result of completed project
properties generating revenue. In an identical portfolio, income rose by 4 per
cent.
  · Net operating income rose to SEK 355m (350). In an identical portfolio, net
operating income increased by slightly more than 2 per cent. The surplus ratio
was 68 per cent (70) following a colder winter compared with the previous year.
  · Profit from property management rose by 16 per cent to SEK 195m (168).
  · Realised and unrealised changes in value amounted to SEK 1,679m (708) in
properties and SEK –118m (–57) in interest-rate derivatives.
  · In February, Uarda 5 was divested at a purchase price of SEK 2.2bn. The
transaction produced a realised gain of SEK 159m before tax and SEK 420m after
tax.
  · Profit before tax for the period amounted to SEK 1,756m (886). Profit after
tax for the period was SEK 1,665m (705), corresponding to earnings per share of
SEK 10.07 (4.26).
  · Net lettings during the period totalled SEK 12m (12). The rent levels from
renegotiated leases were an average of 23 per cent higher, although based on a
relatively low volume.
  · The equity/assets ratio was 43 per cent (39) and the loan-to-value ratio 48
per cent (52). After adjustment for unrecorded dividends adopted after the
balance sheet date, the equity/assets ratio amounted to 42 per cent and the loan
-to-value ratio was 49 per cent.

¹The comparison figures for income and expense items relate to values for the
period January–March 2015 and for balance sheet items as at 31 December 2015.

Fabege delivers strong first quarter

“Our work to extend leases with our customers has been successful, with rising
rent levels for both renegotiated and new leases. The strong rental growth
combined with lower yield requirements contributed to the quarter’s increase in
value, which totalled just over SEK 1.5bn. The increase in value has also been
positively affected by the fact that we have now completed, or are near
completion on several of our major projects,” comments 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, Executive Vice President and CFO, tel +46 (0)8-555 148 29, +46
(0)706-66 13 80

This information is of the type that Fabege AB (publ) is required to disclose
according to the Securities Market Act and/or the Financial Instruments Trading
Act. The information was released for publication on the date specified above.

Fabege AB (publ) is one of Sweden’s leading property companies focusing on
letting and managing office premises as well as property development. Fabege
owns properties with a total carrying amount of SEK 40.5bn. The property
portfolio, which is concentrated in the Stockholm region, has a rental value on
an annualised basis amounting to SEK 2.2bn and a lettable area of 1.1 million
sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, in the Large Cap
segment.