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FBGBY On Other Exchanges
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fabege ab-unspon adr (FBGBY) Key Developments

ICA Gruppen AB Signs New Agreement with Fabege

ICA Gruppen AB has signed a new 12-year agreement for slightly more than 23,000 sqm of floor space, excluding garage facilities, in Arenastaden. The total annual rental value including parking facilities amounts to about SEK 68 million. The office will be built on the Signalen 3 property and occupancy is scheduled for the third quarter of 2018. The new agreement will take the form of a Green Lease, entailing an ambition by both parties to identify resource-efficient and environmentally smart operating solutions, and the building will be environmentally certified according to the BREEAM Excellent standard. Signalen 3 is located by the Signalbron bridge, close to the Mall of Scandinavia, Friends Arena and the commuter-train station, Solna Station.

Fabege Appoints Andreas Malmsäter as Director of Letting Operations, Effective from September 1, 2015

Fabege AB announced Andreas Malmsäter has been appointed as Fabege's new Director of Letting Operations as of 1 September. Andreas will join the company from Tenant & Partner, where he has held a number of positions, most recently as Senior Manager/Team Manager.

Fabege AB Announces Consolidated Earnings Results for the Second Quarter and First Six Months and Parent Company Earnings Results for the First Six Months Ended June 30, 2015

Fabege AB announced consolidated earnings results for the second quarter and first six months and parent company earnings results for the first six months ended June 30, 2015. For the quarter, on consolidated basis, the company announced rental income of SEK 496 million compared to SEK 526 million for the same period a year ago. Net operating income was SEK 365 million compared to SEK 389 million for the same period a year ago. Profit before tax was SEK 1,065 million compared to SEK 356 million for the same period a year ago. Profit for period was SEK 830 million compared to SEK 323 million for the same period a year ago. Earnings per share were SEK 5.02 compared to SEK 1.95 for the same period a year ago. For the first six months, on consolidated basis, the company announced rental income of SEK 998 million compared to SEK 1,039 million for the same period a year ago. Net operating income was SEK 715 million compared to SEK 738 million for the same period a year ago. Profit before tax was SEK 1,951 million compared to SEK 686 million for the same period a year ago. Profit for period was SEK 1,535 million compared to SEK 563 million for the same period a year ago. Earnings per share were SEK 9.28 compared to SEK 3.40 for the same period a year ago. Cash flow from operating activities was SEK 1,382 million compared to cash flow used in operating activities of SEK 1,088 million for the same period a year ago. Investments in new-builds, extensions and conversions was SEK 987 million compared to SEK 513 million for the same period a year ago. Acquisition of properties was SEK 800 million. Investments in other tangible fixed assets were SEK 72 million. Return on equity was 21.5% compared to 8.9% for the same period a year ago. During the six months, the company's investment-property portfolio contributed to the favorable earnings through both a positive cash flow and value growth. Growth in net asset value was healthy, with EPRA NAV rising SEK 15 year-on-year to SEK 102 per share. The decline in rental income was due entirely to the smaller portfolio following property sales in 2014. For the six months, on parent company basis, the company announced income of SEK 79 million compared to SEK 65 million for the same period a year ago. Profit before tax was SEK 123 million compared to loss before tax of SEK 375 million for the same period a year ago. Profit for period was SEK 107 million compared to loss for the period of SEK 291 million for the same period a year ago.

Fabege and Telenor Sweden Signs Ten-Year Lease for 9,800 Sqm of Office, Bicycle Storage and Garage Space

Fabege and Telenor Sweden have signed a ten-year lease for 9,800 sqm of office, bicycle storage and garage space at a combined annual rental value of approximately SEK 31 million. The lease marks the start of Fabege’s planned utilization of office development rights in Rasunda. Occupancy is scheduled to occur in the second half of 2018.

Fabege AB, Q2 2015 Earnings Call, Jul 06, 2015

Fabege AB, Q2 2015 Earnings Call, Jul 06, 2015

 

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FBGBY

Industry Average

Valuation FBGBY Industry Range
Price/Earnings 7.2x
Price/Sales 9.8x
Price/Book 1.3x
Price/Cash Flow 7.2x
TEV/Sales NM Not Meaningful
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