Fabege AB: Interim Report Jan-Jun 2025

Rental income totalled SEK 1,717m (1,731). Net operating income declined slightly, while residential development made a positive contribution. The surplus ratio was consistent with our expectations. Interest expenses decreased slightly. Profit from property management remained virtually unchanged at SEK 657m (659). Overall, a stable result in a persistently weak market, with a focus on lettings and the day-to-day running of our properties.

April-June 2025	January-June 2025
Net lettings totalled SEK -12m (-38).	Net lettings totalled SEK -6m (-74).
Rental income totalled SEK 852m (864). In a like-for-like property portfolio, income fell by -3.8 per cent compared with the previous year (4.9).	Rental income amounted to SEK 1,717m (1,717). In a like-for-like property portfolio, rental income fell by 3 per cent compared with the previous year (8).
Net operating income amounted to SEK 633m (650). In a like-for-like property portfolio, net operating income decreased by -6.0 per cent (6.1).	Net operating income amounted to SEK 1,233m (1,269). In a like-for-like property portfolio, net operating income declined by -5.7 per cent (8).
The surplus ratio was 74 per cent (75).	The surplus ratio was 72 per cent (73).
Revenue from residential development amounted to SEK 128m (0) and gross earnings totalled SEK 29m (-6).	Revenue from residential development amounted to SEK 128m (142) and gross earnings totalled SEK 23m (-5).
Profit from property management amounted to SEK 372m (331).	Profit from property management amounted to SEK 657m (659).
Realised and unrealised changes in the value of properties amounted to SEK -85m (-80).	Realised and unrealised changes in the value of properties amounted to SEK -687m (-1,457).
Post-tax earnings for the period amounted to SEK -117m, (17), corresponding to earnings per share of SEK -0.37 (0.05).	Post-tax earnings for the period amounted to SEK -267m (-682), corresponding to earnings per share of SEK -0.85 (-2.17).

-It has been a tougher first half-year than we expected at the start of the year, but still a stable result. Activity in the rental market gradually increased during the quarter, however the time to completion is still drawn out. On the positive side, the continued decline in interest rates and resulting lower average interest rates are particularly noticeable. The transaction market confirms our valuations. We look forward with confidence to the second half of 2025," comments Stefan Dahlbo, CEO of Fabege.

Fabege AB (publ)

Presentation of the report

Stefan Dahlbo, CEO, and Åsa Bergström, CFO, will present the report today at 09.00. Follow the presentation via the link: https://fabege.events.inderes.com/q2-report-2025

To participate via conference call, please register using this link: https://conference.inderes.com/teleconference/?id=50052188. After registration, you will receive a telephone number and conference ID to log in to the conference. The conference call will provide an opportunity to ask questions.

A presentation in English will be held at 10.30.
Follow this presentation via the link: https://fabege.events.inderes.com/q2-report-2025-english

To participate via conference call in English, please register using the link below: https://conference.inderes.com/teleconference/?id=5002520 After registration, you will receive a telephone number and conference ID to log in to the conference. The conference call will provide an opportunity to ask questions.

This information is of the type that Fabege AB is required to disclose under the EU Market Abuse Regulation and the Swedish Securities Market Act. This information was released, through the provision of the above-mentioned contact person, for publication on 7 July 2025, at 07.30 CET.

For further information, please contact:
Stefan Dahlbo, President and CEO, tel. [phone], [e-mail]
Åsa Bergström, Vice President and CFO, [phone], [e-mail]