Fabege AB (publ) (FABG) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to our presentation of the third quarter. As usual, it will be afterwards, there will be an opportunity to ask questions. To summarize the third quarter, I would say it was a stable quarter. We had increased rental income, we had increased net operating income, and we had increased profit from the property management. And the net letting was positive with about 9 million. So in a stable quarter. After the summer, we have seen some signs of improvements. Inquires are increasing, and there have been more viewings. So, it's more activity. That's small, but clear signals that we slowly, but surely, hopefully, will be starting to be more active. There will be more activity in the market. And especially, this is true in the Stockholm inner city. So, Åsa, please give us a review of our numbers. Thanks, Stefan. Please turn to page four. Rental income for the period amounted to 2.5 billion, just above the same period last year. On a like-for-like basis, income decreased by 74 million, equivalent to minus 3.2 percent, which was mainly related to relocations due to the previous year's negative net lettings. The sale of the property Ynglingen meant a decrease of 25 million. Meanwhile, income increased by 103 million related to occupations in completed projects. Net operating income decreased to 1.9 billion. Property costs include a non-recurring item of 7 million. Other deviations mainly relate to slightly high repair and maintenance costs and property tax. The surplus ratio thus amounted to 74%. For the quarter alone, the surplus ratio was 78%. No sales were reported in Bybostad during the third quarter as no projects were completed. The sales were then related to the second quarter when the first phase in the housing project in Haganara with 23 apartme...