KlaraBo Sverige (KLARA) Stockholm Corporate Finance Conference 2025 summary

Strategic focus and business model

• Emphasizes resilient growth through acquisitions and organic expansion via refurbishments, regardless of market conditions.

• Operates in four main urban clusters, leveraging local knowledge and scale for lower vacancy risk and cost control.

• Maintains a strong balance sheet with approximately SEK 1bn available for acquisitions.

• In-house management and enhanced organizational capabilities support ongoing expansion.

• 60% of the portfolio has refurbishment potential, supporting future growth.

Portfolio performance and value creation

• Manages 7,431 apartments with a real occupancy rate above 97%.

• Historical refurbishments have generated SEK 40m in annual rental increases and SEK 460m in net value gains.

• Refurbishment projects yield an average historical weighted yield of 4.0%.

• Selected clusters account for 50% of the portfolio, with high occupancy and significant refurbishment potential.

• Value per sqm remains below replacement cost, limiting competition from new construction.

Financial results and growth metrics

• Revenue for Jan–Jun 2025 increased by 13.2% to SEK 355.6m, with operating profit up 13.9%.

• Income from property management rose 24% year-over-year for the same period.

• Loan-to-value ratio stands at 50.5%, with an average interest rate of 3.4% and 60% of the portfolio hedged.

• No refinancing required in 2025; refinancing of over SEK 1bn completed.

• Average annual NRV growth since 2019 is 17%, and income from property management per share has grown 24% annually.