Interim Report January–June 2012

 | Source: Fabege AB Fabege AB 

  · Profit from property management increased to SEK 282m (270), and rental
income increased to SEK 920m (894). The year-on-year change was due to growth
through positive net lettings and completed projects.
  · Realised and unrealised changes in value amounted to SEK 955m (591) on
properties and SEK 100m (38) on interest-rate derivatives.
  · After-tax profit for the period amounted to SEK -826m (656), corresponding
to earnings per share of SEK -5.09 (4.03), following a provision of SEK 1,900m
for ongoing tax matters.
  · Net lettings amounted to SEK 131m (60).

“The verdict in the Cyprus case was unexpected. Due to the uncertain legal
scenario resulting from the verdict, we have provisioned a significant amount
and are now further pursuing the matter in the Administrative Court of Appeal,”
says Christian Hermelin, CEO of Fabege.

“We can confirm that Fabege is on firm footing and is capable of coping with the
tax matter regardless of the outcome. We reported very strong operational
earnings in the first half year. Stockholm is growing and the demand for modern
offices in prime locations remains substantial, which benefits Fabege,”
concludes Christian Hermelin.

Fabege AB (publ)
For further information, please contact:
Christian Hermelin, CEO, phone 46 (0)8 555 148 25, 46 (0)73 387 18 25
Åsa Bergström, Deputy CEO and CFO, phone 46 (0)8 555 148 29, 46 (0)70 666 13 80
This constitutes information that Fabege AB (publ) may be legally obliged to
disclose under the Securities Market Act and/or the Financial Instruments
Trading Act. The information was released for publication at 08:00 am CET on 6
July  2012.

Fabege AB (publ) is one of Sweden’s leading property companies focusing mainly
on letting and managing office premises and property development. The carrying
amount of the company’s property portfolio is approximately SEK 30.8bn. The
portfolio is concentrated in the Stockholm region and has an annualised rental
value of SEK 2.2bn and a lettable area of 1.1m sqm. Fabege’s shares are listed
on Nasdaq OMX Stockholm, Large Cap segment.

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