Amhult 2 (AMH2) Q3 2026 earnings summary

Executive summary

• 9M revenue, operating surplus and net income rose YoY; Q3 net income increased despite slightly lower revenue and operating surplus.

• Operations generated growth, while development continued at Hercules and preparations advanced for the final Utrikesflyget project.

Financial highlights

• Q3 revenue was SEK 26.526m vs SEK 26.622m; operating surplus SEK 21.216m vs SEK 21.529m; operating profit SEK 19.969m vs SEK 20.150m.

• Q3 net income was SEK 9.269m vs SEK 8.882m.

• 9M revenue rose 6.4% YoY to SEK 82.096m; operating surplus rose 4.2% to SEK 62.948m.

• 9M net income increased to SEK 26.690m from SEK 24.749m; EPS was SEK 3.89 vs SEK 3.61.

• 9M operating cash flow was SEK 96.320m vs SEK 2.217m, including a SEK 63.525m positive working-capital change vs a SEK 25.586m outflow.

Outlook and guidance

• Hercules phase 2 construction continued on plan; 49 rental apartments are scheduled for occupancy in summer 2027, with leasing to begin at year-end 2026.

• Utrikesflyget building-permit application is targeted before year-end; permit and lease-negotiation timing depends on Gothenburg City and prospective tenants.

• Management expressed a positive view of the outlook despite external uncertainty.