Fortinova Fastigheter (FNOVA) Q2 2026 earnings summary

Executive summary

• Revenue increased by 10% to 211 Mkr for the first half of 2026, driven by property acquisitions, index adjustments, and rent increases.

• Operating surplus rose 7% to 125 Mkr, with a surplus ratio of 59%.

• Management profit improved by 10% to 57 Mkr, or 1.1 kr per share.

• Net profit for the period was 51 Mkr, or 1.0 kr per share.

• High portfolio activity included acquisitions, divestments, and project development.

Financial highlights

• Rental income for Q2 increased by 8% year-over-year to 105 Mkr.

• Operating surplus for Q2 was 66 Mkr, up 8% year-over-year, with a 63% surplus ratio.

• Unrealized property value changes were 18 Mkr for H1, down from 54 Mkr last year.

• Derivative value changes were -6 Mkr for H1.

• Long-term net asset value per share rose to 53 kr.

Outlook and guidance

• Management sees a more stable market with increased activity and interest in residential properties.

• Strategic focus remains on acquiring modern properties, divesting non-strategic assets, and developing projects with strong partners.

• Current earnings capacity for the portfolio is estimated at 126.6 Mkr management profit annually, or 2.5 kr per share.