Sweden · Delayed Price · Currency is SEK Fastighets AB Balder Earnings Call Transcripts
Fiscal Year 2026
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Portfolio value reached SEK 241 billion with 95% occupancy and a 5% rise in rental income year-over-year. Net debt-to-total assets increased to 50.4% due to Norion distribution and share buybacks, while commercial market activity is showing early signs of recovery.
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Portfolio value reached SEK 237 billion with 95% occupancy and SEK 5 billion in late-quarter acquisitions. Adjusted profit from property management rose 3% year-over-year, while net debt to EBITDA increased to 13.6, mainly due to Norion and currency effects.
Fiscal Year 2025
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Portfolio value reached SEK 229 billion with 4% rental income growth and stable 95% occupancy. Norion share distribution will reduce NAV and impact leverage, while liquidity remains high ahead of 2027 maturities. Market conditions are stable, with cautious optimism for Finnish residential recovery.
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Portfolio value reached SEK 229 billion with 7% rental income growth and 95% occupancy. Liquidity is strong ahead of 2027 maturities, and capital allocation remains flexible, balancing investments, deleveraging, and potential share buybacks. Market sentiment and consumer confidence are improving.
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Portfolio value reached SEK 226 billion with 95% occupancy and strong earnings growth. Transaction activity is rising, financing remains stable, and the Finnish market is expected to improve in H2.
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Rental income and NOI grew 9% and 10% year-over-year, with stable occupancy at 96% and strong liquidity above SEK 23 billion. Finnish residential remains competitive but is expected to improve, while financing costs are projected to decrease later in 2025.
Fiscal Year 2024
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Q4 2024 saw 8% growth in rental and operating income, with profit from property management per share up 3% year-over-year. Debt metrics improved, liquidity remains strong, and expansion will focus on acquisitions. Transaction and Finnish residential markets are expected to strengthen in H2 2025.
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Rental income and NOI rose 7% year-over-year, while profit from property management per share dipped slightly due to higher financing costs. Yields have stabilized, supporting a more growth-oriented capital allocation in 2025, with deleveraging and improved funding conditions expected.
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Q2 saw 8% growth in rental income and NOI, with stable occupancy and improved liquidity. Deleveraging continues, with investments on hold until yields stabilize, while Finnish residential markets are expected to recover in 2025.