CEO Charlotta Wallman Hörlin and CFO Magnus Ekström will present the Interim report January-June 2025 in a audiocast at 10.30 a.m. CET at https://www.finwire.tv/webcast/intea/q2-25-2/
Subsequent questions can be posted directly to CFO Magnus Ekström by email: magnus.ekstrom@intea.se
January - June 2025
- Rental income increased by 22.8 percent (12.1) and amounted to SEK 717 million (584), of which SEK 101 million (0) comes from project properties. In a like-for-like portfolio, rental income increased by 1.7 percent.
- Profit from property management increased by 62.2 percent to SEK 405 million (250).
- Changes in the value of investment properties totalled SEK 289 million (17), of which SEK 225 million (41) was attributable to project properties.
- Profit after tax for the period amounted to SEK 348 million (240).
- Profit for the period attributable to the shareholders of the parent per Class A and Class B share totalled SEK 1.40 1) (1.19) and per Class D share SEK 1.00 1) (1.00).
- Total investments in existing investment properties for the period amounted to SEK 531 million (790).
- Property value at the end of the period was SEK 25.3 billion (23.6).
April - June 2025
- Rental income increased by 24.0 percent (10.7) and amounted to SEK 361 million (291), of which SEK 53 million (0) comes from project properties. In a like-for-like portfolio, rental income increased by 2.1 percent.
- Profit from property management increased by 67.0 percent to SEK 207 million (124).
- Changes in the value of investment properties totalled SEK 143 million (7), of which SEK 175 million (10) was attributable to project properties.
- Profit after tax for the period amounted to SEK 38 million (31).
- Profit for the period attributable to the shareholders of the parent per Class A and Class B share totalled SEK 0.03 1) (-0.02) and per Class D share SEK 0.50 1) (0.50).
- Total investments in existing investment properties for the period amounted to SEK 274 million (458).
1) No diluting instruments exist.
Significant events during the quarter
- In April, Intea took possession of the custody unit project in Västerås, with an estimated lettable area of approximately 34,600 sqm. The lease agreement has a term of 20 years from completion. The annual rental value is based on incurred costs in the project and is currently estimated to amount to SEK 225 million. The project is expected to be completed in the third quarter of 2028.
- In April, Intea was awarded a police station project in Gävle of approximately 33,000 sqm of lettable floor area. The lease agreement has a term of 15 years from completion. The annual rental value is based on the costs incurred in the project and is currently estimated to amount to approximately SEK 104 million. The investment is estimated to amount to approximately SEK 1,600 million. The project is expected to be completed in 2030.
- In May, Intea and the Swedish Prison and Probation Service signed a lease for the second phase of an extension of the Kristianstad Prison with an area of approximately 29,000 sqm. The lease agreement will have a term of 25 years from completion. The annual rental value is based on incurred costs in the project and is currently estimated to amount to SEK 131 million. The first phase of the project, covering an area of approximately 10,000 sqm, is expected to be completed in the second quarter of 2026. The timeline for completion of the second phase will be determined during the design phase.
- In May, Intea carried out a directed share issue of 16 million class B shares, raising SEK 1,056 million in new capital.
- In May, Intea issued a green bond loan of SEK 500 million and repurchased bonds totalling SEK 100 million under the existing MTN programme. In June, Intea issued an additional green bond loan of SEK 450 million and repurchased bonds totalling SEK 138 million.
- In May, the Swedish Police awarded Intea a project in Linköping. The building to be constructed is estimated to comprise approximately 4,500 sqm of lettable area and will include new operational space for the Swedish Police. The lease agreement has a term of 15 years from completion. The annual rental value is based on the costs incurred in the project and is currently estimated to amount to approximately SEK 19 million. The project is expected to be completed in the middle of 2030.
Significant events after the end of the quarter
- Intea has entered into an agreement to acquire a portfolio of security properties from Specialfastigheter Sverige AB. The lettable area amounts to just over 78,000 sqm, with the Prison and Probation Service and the Swedish National Board of Institutional Care as tenants. The underlying property value in the transaction is SEK 1,390 million.
Comment from the CEO Charlotta Wallman Hörlin
Amid an environment marked by uncertainty and rapid change, we are pleased to report a strong second quarter, with many exciting developments continuing to unfold within our operations. Intea's stable business model, focused on long-term public-sector tenants, offers us a robust foundation even in challenging times.
Activity within the judicial system is extensive, and we see strong business opportunities in this area. We are therefore especially pleased to announce a new transaction involving the acquisition of a portfolio of security properties from Specialfastigheter, which expands our management portfolio and positively complement our project portfolio. The acquisition includes seven prisons in security class 2 and 3, as well as four SiS institutions. The total lettable area amounts to just over 78 000 square meters, with The Swedish Prison and Probation Service and The Swedish National Board of Institutional Care as tenants. The underlying property value in the transaction amounts to SEK 1 390 million.
In May, we conducted a new share issue, raising over SEK 1 billion in new capital. This issuance welcomed several new shareholders, including the Fourth Swedish National Pension Fund and C WorldWide Asset Management, while many existing shareholders also participated. With new capital secured, we can continue to pursue business opportunities in an exciting market while maintaining a flexible and balanced capital structure.
In May, we conducted our first annual general meeting in a listed environment. It was a ceremonial occasion that we were pleased to share with many of our existing and new shareholders.
For the complete report, please refer to the attached PDF.
For further information, please contact:
Charlotta Wallman Hörlin, CEO, +46 (0) 733 24 50 25
Magnus Ekström, CFO, +46 (0) 705 49 86 02
About Intea
Intea invests in and manages social infrastructure for its own long-term management. As of June 30, 2025, the property portfolio's value amounted to SEK 25.3 billion, with a leasable area of 604,000 sqm. The property portfolio consists of properties and projects with public tenants, such as the judiciary, higher education, and healthcare. Read more at www.intea.se.
This information is information that Intea Fastigheter AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-07-11 07:30 CEST.
Image Attachments
Thumbnail IMG 0054
