FastPartner (FPAR) Q4 2025 earnings summary

Executive summary

• Rental income decreased by 1.0% to SEK 2,271.3 million year-over-year, mainly due to property disposals and higher vacancies in specific assets.

• Net operating income fell by 0.9% to SEK 1,595.7 million, with a stable surplus ratio of 70.3%.

• Management profit increased by 21.0% to SEK 834.3 million, driven by lower interest expenses.

• Net profit after tax was SEK 318.2 million, down from SEK 648.0 million the previous year.

• The board proposes a dividend of SEK 1.15 per A share and SEK 5.0 per D share.

Financial highlights

• Q4 rental income rose 0.8% to SEK 570.5 million, and net operating income increased 2.3% to SEK 392.9 million.

• Q4 management profit grew 20.1% to SEK 206.3 million, mainly due to reduced interest costs.

• Unrealized property value changes for the year were SEK -351.3 million, reflecting market conditions.

• Cash flow from operations before working capital changes was SEK 708.0 million for the year.

Outlook and guidance

• The company targets a rolling annual management profit of SEK 1,200 million by the end of 2028.

• Management expects improved demand and economic conditions in 2026, supported by fiscal stimulus and lower household interest costs.