NP3 Fastigheter (NP3) Q3 2026 earnings summary

Executive summary

• Jan–Sep rental income rose 11% to MSEK 1,865, property-management profit increased 12% to MSEK 934, and net profit reached MSEK 1,245; Q3 property-management profit rose 12% to MSEK 355.

• FY 2026 property-management profit forecast remained MSEK 1,240, implying 12% annual growth and 11% growth per common share.

Financial highlights

• Jan–Sep net operating income increased 11% to MSEK 1,436, with a 77% surplus ratio; Q3 NOI rose 12% to MSEK 523, with an 82% surplus ratio.

• Jan–Sep net profit was MSEK 1,245 versus MSEK 816; Q3 net profit was MSEK 514 versus MSEK 339.

• Jan–Sep property-value gains were MSEK 386, including MSEK 378 unrealised; financial-instrument gains were MSEK 200, including MSEK 163 from derivatives and MSEK 37 from listed shares.

• Comparable-portfolio revenue grew 2.9% in Jan–Sep; total growth also reflected acquisitions, indexation, lettings and completed projects.

Outlook and guidance

• FY 2026 property-management profit forecast remained MSEK 1,240, based on the current portfolio and announced acquisitions and divestments.

• Annualised current-earnings-capacity NOI was MSEK 1,930, up 10% since the start of 2026; this is a portfolio snapshot, not a forecast.

• Ongoing projects had a forecast 7.9% yield on cost; completed projects generated 8.0%, while new Q3 development projects totalled MSEK 113 at a forecast 7.4% yield.