KlaraBo Sverige (KLARA) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 rose 14.9% year-over-year to SEK 182.4 million, driven by rent increases and acquisitions.

• Net operating income increased 14.2% to SEK 118.7 million, with improved cost control.

• Rental value for residential properties increased 5.7% like-for-like LTM, surpassing the general rent increase of 4.9%.

• Profit for the quarter reached SEK 129.4 million, a significant turnaround from a loss of SEK -23.0 million in Q3 2024.

• Real occupancy rate remained high at 96.9%.

Financial highlights

• Income from property management for Q3 was SEK 56.3 million, up 19.2% year-over-year.

• Revenue grew 14% year-to-date, with a net effect of SEK 47m (+10%) from acquisitions and divestments.

• Surplus ratio for Q3 was 65.1%.

• Loan-to-value ratio at quarter-end was 49.7%, with an average interest rate of 3.7%.

• Profit per share reached SEK 2.38 YTD.

Outlook and guidance

• Positioned for continued organic growth, with high refurbishment activity and stable occupancy.

• The company expects continued strong demand for refurbished apartments in its core markets.

• Transaction volumes and market conditions for residential properties are improving, with expectations of further rental growth and stable cash flows.

• Enhanced capacity and expertise support future growth and potential transactions.

• The company is well positioned to capitalize on a more favorable macro environment, with scope for SEK 1 billion in investments.