Platzer Fastigheter (PLAZ) Q2 2026 earnings summary

Executive summary

• Achieved historically high net letting of SEK 34 million, mainly from the office segment, with improved occupancy rate to 91.3% and strong rental growth of 8% in lease renegotiations.

• Rental income and operating surplus both increased by 2% year-over-year, with income from property management per share up 6%.

• Major acquisition of Sörred logistics property for SEK 570 million, fully let to Speed Group, and launch of Arendal Generation 5.0, a SEK 2 billion investment.

• Share buyback program of SEK 200 million approved, with SEK 97 million repurchased in the quarter, totaling 2.3% of outstanding shares.

• Maintained high customer retention and increased leasing activity compared to last year, despite geopolitical uncertainty.

Financial highlights

• Q2 2026 rental income: SEK 438 million (+2% YoY); operating surplus: SEK 355 million (+2% YoY); income from property management: SEK 212 million (+4% YoY, +6% per share).

• Net operating income rose by SEK 6 million, surplus ratio at 81%.

• Net financial items improved by SEK 6 million (5%) to SEK 130 million, aided by lower STIBOR and lending margins.

• Property value at period end: SEK 30.1 billion; net investment in Q2: SEK 76 million.

• Recognized unrealized negative property value change of SEK -125 million due to revised CPI assumptions.

Outlook and guidance

• Focus remains on maintaining high business activity, reducing vacancies, strengthening cash flow, and expanding the industrial and logistics portfolio.

• Arendal Generation 5.0 to add 200,000 sq m of new space over seven years, representing SEK 2 billion in investments.

• Investment capacity exceeds SEK 1 billion per year while maintaining current LTV ratio.

• Management remains cautiously optimistic, citing gradual economic recovery and strong local market conditions in Gothenburg.