Fabege AB (publ) (FABG) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the presentation of the Q4 and 2023. As usual, it's possible to call in to ask questions or send questions by email. To next, second slide, please. To summarize the Q4, it was a good quarter. Our operating activities performed well. We increased our profit from property management, and we have also a strong net lettings. But let's summarize 2023 first. And even here, as we said before, we had, for the whole year, very good operating activities, and we performed well there. We had increased profits from the property management. We had improved vacancy rate, and we had strong net netics as a whole. We also reached our goal for the whole year of a surplus ratio of 75%. we could make a long list of positive things. However, it also was a year with a lot of turbulence. There were concerns about geopolitical developments, concerns about the economic situation, and many were concerned about the development in their personal and household finances, mainly because of the development of the interest rates, of course. Because the EU was characterized by raising interest rates, volatile currencies, and continued high food and electricity prices. In addition to this, many countries were affected by different kinds of extreme weather, and we had the wars going on. Towards the end of the year, the Swedish krona strengthened slightly. Inflation expectations and interest rate came down and share prices went up. So we ended the year better than we started. But now I will hand over to our CFO Åsa Bergström, who will go through our results in more detail. Please go ahead, Åsa. Thanks, Stefan. Please turn to page four. The year 2023 has been different in many ways with falling property values, higher market interest rates and a tougher situation in the capital market. Despite ...