Fabege AB (publ) (FABG) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to FABG's Year End Report 2025. My name is Bent Øvstad. I'm the CEO of FABG and I'm lucky to have with me the experienced CFO Åsa Bergström here today. We run through the report. quite well-known structure on the report today. And just to start with Fabergé in brief, we have a modern portfolio. We focus on Stockholm. We own, we develop, and we manage our properties. We focus on attractive working places and good living in superb locations in Stockholm. And as you all know, Sweden is the capital of growth region in the Nordics. If you distribute the rental value of 4.3 billion to different segments, office stands for 84% of the portfolio. That's office in the broader definition, including also educations. Industry, logistic, 4%, retail, 4%, hotel, 4%, and other segments, 4%. If you allocate square meters into the same segments, office is 72%, and industry and logistic up to 9%. The others more or less the same. And the market value of the portfolio, 78.5 billion. 37% to the inner city and that also explains the differences from the rental value on the square meters because a lot of the properties are in central locations in Stockholm and there the rents per square meter are quite substantially higher than rest of the city. Solna stands for 48%, Hammarby Sjøstad 10% and Flemingsberg 4%. If you try to summarize the fourth quarter, 25, rental income came in at 899 million, up 4.4% from last year. Profit from property management ended at 371 million, up 11%. And the surplus ratio was 75% for the quarter. And as we have commented on the report, quite lucky with the weather, at least at the end of the year. So that's why we had a quite good surplus ratio. Profit from residential development came out at 35 million in the quarter, 23% margin. Shouldn'...