Q3 2025 Fabege AB Earnings Call Transcript
Key Points
- Fabege AB (STU:WILC) reported increased rental income and net operating income for the third quarter.
- The company experienced a positive net letting of approximately 9 million, indicating improved leasing activity.
- Fabege AB (STU:WILC) maintained a strong balance sheet with an equity asset ratio and loan-to-value ratio unchanged at 45% and 43%, respectively.
- The company successfully issued a bond of 1.25 billion with a favorable margin of 100 basis points, reflecting strong demand in the capital market.
- There is an observed increase in inquiries and viewings, particularly in the Stockholm inner city, suggesting a potential uptick in market activity.
- Rental income on a like-for-like basis decreased by EUR74 million, equivalent to a 3.2% decline, mainly due to relocations from previous negative net lettings.
- Net operating income decreased to EUR1.9 billion, impacted by non-recurring property costs and higher repair and maintenance expenses.
- The occupancy rate in the management portfolio remains low at about 87%, with significant vacancies in certain areas.
- The company reported a negative change in property values amounting to minus 988 million for the first nine months.
- Fabege AB (STU:WILC) faces challenges in achieving its target of a 5% vacancy rate by 2030, with current vacancy rates remaining flat around 13%.
Welcome to Fayie Q3 2025 report presentation. For the first part of the conference call, the participants will be in listen-only mode. During the questions and answer session, participants are able to ask questions by dialing und key 5 on their telephone keypad. Now I will hand the conference over to the speakers. Please go ahead.
Good morning and welcome to our presentation for the 3rd of the 3rd quarter.
As usual, it will be afterwards there will be an opportunity to ask questions.
To summarize, the 3rd 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. Inquiries are increasing and there have been more viewings, so it's more activity. There's small but clear signals that we slowly but surely hopefully
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