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2017-02-02

Fabege: Fabege doubles earnings

Fabege's profit after tax for the full year 2016 amounted to 7,107
million (3,232), an increase of nearly 120 per cent.The healthy
earnings are largely due to excellent market conditions, with rising
rent levels and property values combined with persistently low
interest expenses.

Rental income increased to SEK 2,105m (1,998), primarily as a result
of completed project properties beginning to generate revenue. Fabege
also carried out a number of renegotiations during the year and
raised rents by 23 per cent in relation to prior leases, which were
normally signed approximately three years previously. Net lettings
totalled SEK 127m (74). Major new lettings were agreed in 2016 with
Migrationsverket, which is bringing its operations together under one
roof in Sundbyberg; 3, whose new offices will constitute a landmark
in the newly formed Söderstaden district, and Ambea, which is
relocating to Arenastaden and will be neighbours with Siemens and
H&M.

"Market conditions remain positive. I am confident that both rent
levels and property values will continue upward, albeit at a slower
pace than we have seen over the past year. Completed projects will
help boost cash flow in 2017. We have considerable potential in our
development rights and are well positioned to capitalise on the
business opportunities that lie ahead," commented Fabege's CEO
Christian Hermelin.

Fabege's profit after tax corresponds to SEK 42.97 per share (19.54).
Net asset value growth, EPRA NAV, increased to SEK 163 per share.

Fabege AB (publ)

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 12:02 CET on 2
February 2016

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

Fabege are a property company focusing on city district development
and commercial properties. We develop attractive and sustainable
districts with modern offices, housing and a broad range of services
- together with strategic partners. Both our perspective and approach
to ownership are long term and our passion is creating the right
conditions for all those living, working and visiting our areas. We
have a presence in a limited number of high-growth submarkets in the
Stockholm region. Fabege's shares are listed on Nasdaq Stockholm, in
the Large Cap segment. For more information, www.fabege.com

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http://news.cision.com/fabege/r/fabege-doubles-earnings,c2178413
http://mb.cision.com/Main/1568/2178413/622285.pdf

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