JANUARY-JUNE 2026
- Income amounted to SEK 1,765 million (1,805).
- Net operating income amounted to SEK 1,185 million (1,225).
- Profit from property management amounted to SEK 700 million (667). Profit from property management per share amounted to SEK 3.56 (3.10), up 15%.
- Changes in value of properties amounted to SEK -158 million (-205).
- Changes in value of financial instruments amounted to SEK -1 million (-152).
- Profit for the period amounted to SEK 396 million (44). Earnings per share amounted to SEK 2.02 (0.11) after dilution.
- Operating cash flow amounted to SEK 722 million (620). Operating cash flow per share amounted to SEK 3.67 (2.98), up 23%.
- During the period, the company repurchased 17,729,332 of its own shares, corresponding to 8.5% of outstanding shares for SEK 1,218 million.
APRIL-JUNE 2026
- Income amounted to SEK 889 million (887).
- Net operating income amounted to SEK 632 million (625).
- Profit from property management amounted to SEK 381 million (348). Profit from property management per share amounted to SEK 1.99 (1.62), up 23%.
- Changes in value of properties amounted to SEK -73 million (-72).
- Changes in value of financial instruments amounted to SEK -148 million (-189).
- Profit for the quarter amounted to SEK 122 million (-58). Earnings per share amounted to SEK 0.64 (-0.33) after dilution.
- Operating cash flow amounted to SEK 489 million (461). Operating cash flow per share amounted to SEK 2.55 (2.21), up 15%.
- During the quarter, the company repurchased 1,757,236 for SEK 136 million.
UNCHANGED FORECAST
For 2026, profit from property management based on the current property portfolio, announced acquisitions and divestments and current exchange rates is forecast to amount to SEK 1,500 million. The forecast was presented in the 2025 year-end report.
SIGNIFICANT EVENTS DURING AND AFTER THE PERIOD
- In February, it was announced that CFO Ann-Sofie Lindroth has decided to leave her position at the company. In May, Ida Fransson was appointed as new CFO, assuming her position no later than 16 November 2026. Mihaela Gustafsson has been hired as interim CFO.
- In February, the Board of Directors exercised its authorisation from the 2025 Annual General Meeting regarding the company's repurchase of its own shares.
- In May, the Board of Directors exercised its authorisation from the 2026 AGM regarding the company's repurchase of its own shares. On the reporting date, the company held 17,729,332 treasury shares. The cancellation of the majority of the shares has been initiated and is expected to take place during the third quarter.
- During the first quarter two properties located in Örebro and Malmö were divested for SEK 90 million.
- In April the company acquired a property in Porsgrunn, Norway, for SEK 387 million.
- In April, senior unsecured green bonds were issued in an amount of SEK 500 million with a floating interest rate of STIBOR 3M + 250 basis points, maturing in October 2029.
- In May, senior unsecured green bonds totalling SEK 100 million were issued with a floating interest rate of STIBOR 3M + 203 basis points, maturing in October 2028.
- In May, the company change its name to Altra Fastigheter.
- In June, the company entered into an conditional agreement to divest four properties for SEK 1,187 million. After the end of of the period, it was announced that all conditions for the divestment had been satisfied. Closing is scheduled for 31 August 2026.
- In June the company entered into an agreement to acquire four properties for SEK 236 million, with expected closing during the third quarter and to divest five properties for SEK 420 million, of which two reached closing in June.
COMMENTS FROM THE CEO
Altra Fastigheter reports a second quarter with high activity in all parts of the business. Transactions totalling SEK 1.8 billion contributed to the communicated portfolio rotation. A large number of new leases resulted in positive net leasing of SEK 26 million during the quarter. Profit from property management amounted to SEK 1.99 per share, an increase of 23% compared with the second quarter of 2025.
Implementation of the company's updated strategy continues according to plan, and we are seeing gradual progress across all three strategic priorities - strengthened operational efficiency, reduced complexity and optimised capital allocation. During the quarter, the company also completed its rebranding to Altra Fastigheter, marking its updated strategy and long-term direction.
High leasing activity generates new rental income
For the second consecutive quarter, Altra reported positive net letting across all three markets. Overall, the net letting during the first half of the year amounted to SEK 51 million. This performance is a result of high letting activity, with 325 new lease agreements and 85 lease renewals completed, corresponding to 3.4 deals per business day. This demonstrates the strength of our regionally anchored property management model and the organisation's ability to generate new business.
Following the end of the quarter, Altra's Finnish organisation Kielo, signed a new lease for previously vacant premises of 8,230sqm to the City of Helsinki through a 10-year lease agreement for school premises. Tenant improvements will commence immediately to enable the premises to accommodate up to 650 primary school students during the autumn school semester 2027. The lease has an annual rental value of SEK 34 million and will be recognised in net letting for the third quarter of 2026.
Portfolio rotation increases concentration and strengthens profitability
During the second quarter, Altra agreed property transactions totalling SEK 1.8 billion. One of these transactions was the divestment of four office properties in the Stockholm area for SEK 1.2 billion, transferring commercial properties with residential development potential to a specialised owner. The divestment releases capital and resources for investments where we see greater return potential, while also reducing the complexity of the portfolio.
In June, agreements were also signed for the acquisition of four properties for SEK 236 million and for the divestment of five properties for SEK 420 million. These transactions strengthen our position in three existing local markets while allowing us to exit two others. This form part of the ongoing portfolio rotation, which is gradually increasing portfolio concentration and strengthening profitability over time.
Improved financing terms through active refinancing
During the quarter, SEK 3 billion of interest-bearing debt was refinanced, resulting in a cost of SEK 8 million related to early redemption of existing debt. The refinancing nevertheless strengthens our funding through improved terms and extended debt maturity. The average interest margin was 1.62% as of 30 June, compared with 1.96% at the corresponding date in 2025. Following the end of the reporting period, a further SEK 3.8 billion of debt has been refinanced, contributing to a continued reduction in the company's average interest margin.
Strong financial flexibility supports continued capital allocation
Completed property divestments and refinancings have strengthened our financial flexibility. Together with the Annual General Meeting's authorisations to resolve on share repurchases and the ability to issue new classes of shares, this provides us with greater capacity to act when investment opportunities arise.
Since the beginning of the year, Altra has acquired 8.5% of outstanding shares for a total consideration of SEK 1.2 billion. Share repurchases will continue to be evaluated as one of several alternatives for efficient capital allocation.
During the first six months of the year, we have taken tangible steps across all three of our strategic priorities. We will continue to execute this strategy with maintained discipline and a clear focus on sustainable growth in profitability. I look forward to an active second half of the year.
Carl-Johan Hugner, VD
For more information please contact:
Carl-Johan Hugner, CEO
Tel: +46 (0)70 772 58 26
E-mail: cjh@altra.se
Mihaela Gustafsson, Interim CFO
Tel: +46 (0)70 448 75 41
E-mail: mihaela.gustafsson@altra.se
About Altra Fastigheter
Altra Fastigheter is an active property company operating in markets characterised by robust growth potential and strong regional appeal. With a regional presence, efficient decision-making structures and a dynamic transactions platform, we create long-term value for our tenants and growing cash flow for our shareholders. As of June 30, 2026, Altra Fastigheter's property value amounted to SEK 39 billion. Altra Fastigheter's shares are listed on Nasdaq Stockholm Large Cap. Learn more at www.altra.se/en/.
This information is information that Altra Fastigheter 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 2026-07-10 12:00 CEST.
