Altra Fastigheter (ALTRA) Q3 2026 earnings summary

Executive summary

• 9M 2026 profit from property management rose 2% to SEK 1,101m; per-share profit increased 13% to SEK 5.71, supported by share buybacks and lower interest expense.

• Profit for the period was SEK 972m vs SEK 340m, including a SEK 361m positive change in financial instrument values; property values declined SEK 322m.

• Q3 net lettings were positive SEK 42m for the third consecutive quarter, with occupancy improving to 89.2%.

Financial highlights

• 9M income fell 2% YoY to SEK 2,636m; like-for-like income, adjusted for currency, declined 2% to SEK 2,472m, mainly due to higher vacancies in Kielo.

• 9M net operating income decreased 3% to SEK 1,829m; surplus ratio was 69.4% vs 69.9%.

• 9M operating cash flow increased 12% to SEK 1,055m; per-share cash flow rose 21% to SEK 5.47.

• Q3 income was SEK 871m and net operating income SEK 644m; profit from property management was SEK 401m, down from SEK 415m, while per-share profit rose 10% to SEK 2.16.

• 9M diluted EPS was SEK 5.04 vs SEK 1.49; prior-year comparison included a SEK 107m charge for early termination of a cooperation agreement.

Outlook and guidance

• FY 2026 profit from property management is forecast at SEK 1,470m based on the current portfolio, announced acquisitions and divestments, and current exchange rates; prior forecast was SEK 1,500m.

• At the FY forecast, profit from property management per share is expected to rise 13% YoY; the 2026–2030 target is average annual growth of 10% per share.

• Positive net lettings and signed leases not yet occupied support potential for gradual occupancy improvement during 2027.