NP3 Fastigheter (NP3) investor relations material

Executive summary

• Jan–Sep rental income rose 11% to MSEK 1,865; profit from property management increased 12% to MSEK 934, while net profit reached MSEK 1,245.

• Q3 profit from property management rose 12% to MSEK 355; the FY 2026 forecast remains MSEK 1,240.

Financial highlights

• Jan–Sep net operating income increased 11% to MSEK 1,436; the surplus ratio held at 77%. Q3 NOI rose 12% to MSEK 523, with an 82% surplus ratio.

• Jan–Sep net profit was MSEK 1,245 versus MSEK 816; Q3 net profit was MSEK 514 versus MSEK 339.

• Jan–Sep property value gains were MSEK 386, including MSEK 378 unrealised; financial instrument gains were MSEK 200, including MSEK 163 from derivatives and MSEK 37 from listed shares.

• Comparable-portfolio revenue grew 2.9% in Jan–Sep; total revenue growth also reflected acquisitions, indexation, lettings and completed projects.

Outlook and guidance

• FY 2026 profit from property management is forecast at MSEK 1,240, unchanged from the Jan–Jun report; the basis includes the current portfolio and announced acquisitions and divestments.

• Management expects economic recovery to continue and spread across its regions, supporting occupancy, cash flow and rent growth above inflation; interest-rate and global uncertainty are extending decision timelines.

• Current earnings capacity shows annualised NOI of MSEK 1,930, up 10% since the start of 2026; it is a portfolio snapshot, not a forecast.