Altra Fastigheter (ALTRA) Q1 2026 earnings summary

Executive summary

• Income for Q1 2026 was SEK 876 million, down 5% year-over-year, with net operating income at SEK 553 million, down 8% year-over-year.

• Profit from property management remained stable at SEK 319 million, with a 7% increase in profit from property management per share to SEK 1.58.

• Profit for the quarter rose to SEK 275 million from SEK 102 million year-over-year, with EPS after dilution at SEK 1.36.

• Operating cash flow increased 51% year-over-year to SEK 233 million.

• The company repurchased 7.7% of its outstanding shares for SEK 1,100 million during the quarter.

Financial highlights

• Net operating income: SEK 553 million (down from SEK 600 million year-over-year).

• Surplus ratio: 63.1% (down from 65.4%).

• EBITDA (LTM): SEK 2,496 million.

• Loan-to-value ratio: 52.2%; net loan-to-value ratio: 56.8%.

• Interest coverage ratio: 2.1x (up from 1.9x year-over-year).

• Property value at period end: SEK 39,128 million.

Outlook and guidance

• 2026 profit from property management is forecast at SEK 1,500 million, unchanged from previous guidance.

• Focus remains on operational efficiency, portfolio optimization, and capital allocation for sustainable growth.