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ALM Equity (ALM) investor relations material
ALM Equity Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 activity accelerated: 875 homes were in production at quarter-end, with roughly 900 starts entering the final quarter and new development rights for ~400 homes added.
IFRS net loss improved to SEK 67m in Q3 and SEK 70m for 9M, while revenue declined to SEK 166m and SEK 547m, respectively.
Financial highlights
Q3 revenue was SEK 166m vs SEK 246m YoY; 9M revenue was SEK 547m vs SEK 782m.
Q3 operating loss was SEK 11m vs SEK 44m; 9M operating loss was SEK 30m vs SEK 97m.
Q3 net loss was SEK 67m vs SEK 131m; 9M net loss was SEK 70m vs SEK 356m. Q3 included SEK 30m of unrealized financial-asset losses.
IFRS financial-asset revaluations were negative SEK 30m in Q3 and positive SEK 34m for 9M, compared with negative SEK 64m and SEK 170m, respectively, in 2025.
Outlook and guidance
Long-term ambition remains an average 1,000 annual housing starts over a cycle; starts depend on project conditions and margins.
Construction revenue contribution is expected to rise as projects enter production-intensive phases, particularly in H1 2027.
Good prospects are seen for building permits on a further 4–5 projects during 2027; a permit application was submitted for a project of ~60 homes.
- Q2 2026 returned to profit on asset value gains and project starts, with strong financial stability.ALM
Q2 2026 - Net loss of SEK -107 million, 53% equity ratio, and major project launches amid market uncertainty.ALM
Q1 2026 - Q4 2025 delivered higher sales and profit, expanded development portfolio, and improved stability.ALM
Q4 2025 - Leadership change, refinancing, and market stabilization amid improved liquidity and ongoing losses.ALM
Q3 2025 - Revenue and profit fell, but financial stability improved amid a challenging property market.ALM
Q2 2025 - Merger and SEK 1.9bn capital boost drive growth despite Q3 net loss from one-offs.ALM
Q3 2024 - Profit rebounded in Q2, merger approved, and debt reduction prioritized for future growth.ALM
Q2 2024 - Net loss narrows, liquidity strengthens, and capital structure improves amid market uncertainty.ALM
Q1 2025 - Merger and asset deal boosted liquidity, cut debt, and improved financial performance.ALM
Q4 2024
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