Altra Fastigheter (ALTRA) Q2 2026 earnings summary

Executive summary

• Income for January–June 2026 was SEK 1,765 million, down 2% year-over-year, mainly due to higher vacancies.

• Net operating income declined 3% to SEK 1,185 million, with a surplus ratio of 67.1%.

• Profit from property management rose 5% to SEK 700 million, or SEK 3.56 per share, up 15% year-over-year.

• Profit for the period surged to SEK 396 million from SEK 44 million, with EPS after dilution at SEK 2.02.

• Operating cash flow increased 16% to SEK 722 million, or SEK 3.67 per share, up 23%.

Financial highlights

• Changes in property values were negative at SEK -158 million, a smaller loss than last year.

• Changes in value of financial instruments were SEK -1 million, a significant improvement from SEK -152 million.

• Loan-to-value ratio increased to 52.7% (from 50.2%), and net loan-to-value ratio to 57.2%.

• Interest coverage ratio improved to 2.4x from 2.2x.

• NAV per share at period end was SEK 99.27.

Outlook and guidance

• The 2026 forecast for profit from property management remains unchanged at SEK 1,500 million.

• Strategic focus continues on operational efficiency, reduced complexity, and optimized capital allocation.