Sagax (SAGA-A) investor relations material

Executive summary

• Rental revenue for Jan–Jun 2026 rose 4% year-over-year to SEK 2,719 M, driven by acquisitions and indexation.

• Profit from property management attributable to shareholders was SEK 2,151 M, down 1% due to currency effects, higher vacancies, and increased interest rates.

• Profit after tax attributable to shareholders surged to SEK 2,690 M from SEK 1,354 M, mainly due to positive property and financial instrument revaluations.

• Economic occupancy rate was 95%, with a total property portfolio of 1,065 properties and 5,478,000 sqm lettable area.

Financial highlights

• Property revaluation contributed SEK 831 M to profit (vs. SEK -388 M last year); financial instruments revaluation added SEK 282 M (vs. SEK -148 M).

• Cash flow from operating activities before working capital changes was SEK 1,875 M (SEK 2,007 M prior year).

• Net investments in properties totaled SEK 2,219 M, with SEK 2,181 M from acquisitions.

• Dividend per Class A and B share increased to SEK 3.70 (SEK 3.50 prior year).

Outlook and guidance

• Adjusted 2026 forecast for profit from property management raised to SEK 4,600 M, up from SEK 4,500 M.

• Current earnings capacity as of July 1, 2026, shows profit from property management at SEK 4,533 M.