K2A Knaust & Andersson Fastigheter (K2A) Q3 2026 earnings summary

Executive summary

• Jan–Sep rental income and operating surplus increased YoY, while the management result fell sharply as joint-venture fair-value gains declined; profit after tax rose to SEK 77.4m.

• Operations remained stable, Slakthusområdet construction progressed, and the portfolio retained the top ranking among listed residential companies in GRESB for a second year.

Financial highlights

• Q3 2026 rental income was SEK 77.4m (75.7m YoY), operating surplus SEK 59.4m (57.8m), and management result SEK 2.7m (6.4m).

• Q3 profit after tax was SEK 7.4m (1.2m); EPS for ordinary shares was -SEK 0.05 (-SEK 0.11).

• Jan–Sep rental income was SEK 232.8m (228.1m), operating surplus SEK 170.3m (168.8m), and management result SEK 13.7m (81.5m).

• Jan–Sep fair-value changes in investment properties were SEK 82.5m (38.7m); profit after tax was SEK 77.4m (36.5m), with EPS of SEK 0.51 (0.06).

• Total assets were SEK 7,497m at Sep 30, 2026 (SEK 6,986m YoY); investment properties were SEK 6,648m and cash SEK 268m.

Outlook and guidance

• Capital priorities remain financial stability, cash flow and value-creating allocation; the stated transaction strategy is to be a net seller over time, strengthening the balance sheet and funding selected projects.

• Slakthusområdet comprises 247 student and researcher homes, a preschool and sports hall; first occupancy is planned for autumn 2027, with two blocks scheduled for completion in Q3 2027 and Q3 2028.

• Cassiopeia in Lund is planned as 750 homes developed in phases over several years; financing has not been procured for projects not yet started.

• After period-end, SEK 1,728m of the SEK 2,179m in bank loans maturing in Q4 2026 had been extended; the remainder was expected to be extended at maturity in November.