* K-Fastigheter announced the divestment of a 1.2 percent holding in the subsidiary K-Fast Kilen AB to a company within Kilenkrysset Förvaltning AB. K-Fastigheter's ownership interest thereby decreased to 50 percent, and K-Fast Kilen AB is recognized as an associated company as of 1 January 2026.
* K-Fastigheter announced a strategic partnership with ByggVesta AB. The collaboration, which will be conducted through a joint venture, initially comprises the development and construction of two major projects in Stockholm and Malmö.
* K-Fastigheter announced that the Group, together with Alhem Fastigheter, has started construction of 169 out of a total of 255 residential rental units and three commercial units in Björlanda Ängar on Hisingen, just north of Gothenburg.
* K-Fastigheter announced that the Group has divested its shareholding in the jointly owned company owning the project property Vallentuna-Rickeby 1:48 to Titania. The project was sold during ongoing production and the underlying market value amounted to SEK 175 million, corresponding to SEK 75,000 per square meter.
* During the quarter, the Group commenced construction of one project in Eskilstuna comprising a total of 92 apartments and one in Gothenburg comprising 169 apartments.
* Brinova AB entered into an agreement to divest a newly constructed Danish residential property comprising 153 apartments. The property was included in the acquisition from K-Fastigheter in April 2025 and was developed by the K-Fastigheter Group. The property was recognized at DKK 380 million at the time of the acquisition in 2025 and was sold at an underlying property value of DKK 437 million, demonstrating the value creation in the transaction between K-Fastigheter and Brinova. The buyer is the Danish asset manager Formuepleje. Completion took place on 14 April.
Key indicators for the period 1 January - 31 March 2026*
(corresponding period in 2025 in parentheses)
- Income Construction: SEK 512.7 million (519.8)
- Income Property Management: SEK 280.3 million (161.2)
- Earnings per share, Construction: SEK 0.20 (0.20)
- Earnings per share, Property Management: 0,20 (0,14)
- Net asset value per share: SEK 24.05 (24.34)
* In the first quarter of 2026, Brinova Fastigheter AB will be consolidated, but not K-Fast Kilen AB.
In the first quarter of 2025, K-Fast Kilen AB will be consolidated, but not Brinova Fastigheter AB.
Comments from the CEO
The first quarter of 2026 marked several important steps in our ongoing transformation. This is a journey aimed at positioning the company as one of Sweden's leading operators in project development and construction. To achieve this, a stronger financial position is required, alongside, at the appropriate time, distributing the shares in Brinova Fastigheter AB to our shareholders.
During the quarter, we completed the divestment of the Vallentuna-Rickeby 1:48 property, which was 50 percent owned by K-Fastigheter. The purchase consideration corresponded to an underlying value of approximately SEK 75,000 per square meter (net). During the quarter, we also divested 1.2 percent of our shares in K-Fast Kilen AB to our partner Kilenkrysset Group, resulting in equal ownership of K-Fast Kilen. As a result, from the first quarter of 2026, we no longer consolidate K-Fast Kilen as a subsidiary and instead recognize it as an associate.
We view the investment in K-Fast Kilen as a long-term holding. The business is developing well, with continued potential for growth and dividend generation, supporting our ambition to build K-Fastigheter into a more capital-light and less cyclical company.
Kilenkrysset, which owns the remaining share in K-Fast Kilen AB, increased its shareholding in K-Fast Holding AB during the quarter and, as of the end of the period, had become the company's third-largest shareholder.
Brinova, in which we hold 57.6 percent of the capital and voting rights, completed three transactions during the quarter: two acquisitions of residential rental properties in Hässleholm and Växjö, comprising a total of 270 apartments. The third transaction relates to the divestment of a property portfolio in Baller up, Denmark, comprising 157 apartments, for approximately SEK 637 million. The property in question is a project developed by K-Fastigheter and was included in the transaction between K-Fastigheter and Brinova in April 2025. The sale price was 10 percent above Brinova's carrying amount and 15 percent above the initial value in the transaction between K-Fastigheter and Brinova. The transaction clearly confirms the carrying values recognized in the transaction between K-Fast Holding AB and Brinova Fastigheter AB.
During the quarter, we initiated a process to evaluate the potential divestment of completed and ongoing projects in Västerås. Any such divestments, together with the proceeds received from previously completed forward sale transactions, represent important steps in our transformation towards a stronger financial position and enabling the distribution of our shares in Brinova to our shareholders.
During the quarter, we commenced construction of two projects. The first phase comprises 169 apartments in Björlanda, Gothenburg, in our jointly owned project together with Alhem Fastigheter, as well as Förvaltaren 2 in Eskilstuna, comprising 92 apartments. We have also initiated a collaboration with ByggVesta, starting with two larger projects totaling approximately 500 apartments in Stockholm and Malmö, respectively.
We control sufficient building rights to commence construction of just over 800 apartments in 2026 and a similar number in 2027, according to current plans. Thanks to a higher share of external orders in our business area Prefab Solutions, combined with an increase in construction starts, we can conclude that we have moved past the low point and have begun the recovery towards stronger operating margins within Construction.
- Jacob Karlsson, CEO, April 2026
A complete Interim report for January-March 2026 is attached and published on:www.k-fastigheter.se/en/investor-relations/financial-reports-rapporter/
A presentation of the earnings and operations will be published on: www.k-fastigheter.se/en/investor-relations/presentations/
This disclosure contains information that K-Fast Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 29 April 2026, at 8:00 a.m. CEST.
For more information, please contact:
Anders Antonsson, Head of Investor Relations and Communications
email: anders.antonsson@k-fastigheter.se, telephone: +46 10 204 85 35
K-Fastigheter is much more than a property company. Through an integrated process, we build our business in the two business segments Construction and Property Management. In the Construction business segment, completed homes are delivered, where K-Fastigheter has chosen to work with three in-house developed concept houses for homes to enhance cost efficiency and cut construction times. Furthermore, through the subsidiary K-Prefab, K-Fastigheter delivers complete frame solutions internally as well as to external customers. The Property Management business segment manages the Group's property portfolio with a focus on housing and since April 2025, K-Fastigheter owns 57.6 percent of Brinova Fastigheter AB, which is a leading property company in southern Sweden, with a focus on the Öresund region. Since 2019, K-Fastigheter's B shares have been traded on Nasdaq Stockholm (short name: KFAST B). Read more at k-fastigheter.se
