An even stronger Sveafastigheter is taking shape
"The second quarter was characterised by the transformative transaction that takes Sveafastigheter into its next phase. The merger with KlaraBo is about far more than increased scale. Through a larger share of cash flow-generating assets, significant operational and financial synergies, and a strengthened financial profile, a company is being created with substantially better conditions to increase profit from property management per share, strengthen dividend capacity and create long-term shareholder value," says Erik Hävermark, CEO of Sveafastigheter.
April-June 2026
- Rental income increased by 6.5 percent and amounted to SEK 408m (383). For comparable portfolio, rental income increased by 4.4 percent.
- Net operating income increased by 7.1 percent and amounted to SEK 264m (246). For comparable portfolio, net operating income increased by 3.2 percent.
- Profit from property management amounted to SEK 110m (97), corresponding to SEK 0.56 (0.49) per share.
- Value changes in properties amounted to SEK 33m (-137).
- Profit/loss for the period amounted to SEK -26m (-155), corresponding to SEK -0.13 (-0.78) per share.
January-June 2026
- Rental income increased by 6.2 percent and amounted to SEK 806m (759). For comparable portfolio, rental income increased by 4.7 percent.
- Net operating income increased by 6.3 percent and amounted to SEK 466m (438). For comparable portfolio, net operating income increased by 3.5 percent.
- Profit from property management amounted to SEK 172m (157), corresponding to SEK 0.87 (0.79) per share.
- Value changes in properties amounted to SEK 181m (-209).
- Profit/loss for the period amounted to SEK 251m (-117), corresponding to SEK 1.26 (-0.58) per share.
Significant events during the quarter
- The Solhusen residential development project in Nacka was divested. The project comprises 147 rental apartments, including 30 senior apartments. The agreed property value amounted to SEK 438m, before deduction of deferred tax, and is in line with the latest external valuation. Total investment in the project amounted to SEK 354m, corresponding to a project margin of 24 percent.
- A merger between Sveafastigheter and KlaraBo was initiated, whereby Sveafastigheter will absorb KlaraBo. The transaction will create a larger residential real estate company with a higher share of cash flow-generating assets, significant operational and financial synergies, and a strengthened financial profile. Overall, the merger is expected to provide improved conditions for increased income from property management per share, enhanced dividend capacity and long-term shareholder value. The merger plan was adopted by the boards of directors of both companies in May and approved by the extraordinary general meetings of both companies on 26 June. At Sveafastigheter's extraordinary general meeting, a new board of directors was elected, conditional upon the Swedish Companies Registration Office's final registration of the merger, which is expected to take place in September 2026.
- Sveafastigheter was placed on Rating Watch Positive by Fitch Ratings in connection with the merger with KlaraBo. An upgrade to 'BBB' may be considered following completion of the merger and a further extension of the Company's average debt maturity to four years.
- Construction commenced on 127 apartments in the Hedvig residential development project at Spånga station. The project is being developed to achieve Miljöbyggnad Silver certification.
Significant events after the quarter
- After the quarter ended, agreements were signed for the divestment of the new development projects Gamla Landsvägen in Nacka and Hedvig in Spånga. The projects comprise a total of 214 apartments. The total agreed property value amounts to SEK 727m, before deduction of deferred tax. Total investment is estimated at SEK 570m, corresponding to a project margin of 28 percent. The projects are expected to be handed over during the third quarter of 2027 and the fourth quarter of 2028, respectively.
For further information, please contact:
Kristel Eismann, Head of Treasury and IR, ir@sveafastigheter.se
About Sveafastigheter
Sveafastigheter owns, manages and develops people's homes. The property portfolio consists of a wide range of rental apartments in growth regions in Sweden. The buildings are managed and developed with a local presence and commitment. Sveafastigheter develops and builds new sustainable housing where the demand for housing is the greatest.
This information is information that Sveafastigheter 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 2026-07-16 07:30 CEST.
