Prisma Properties (PRISMA) Q1 2026 earnings summary

Executive summary

• Property portfolio value surpassed SEK 10 billion, up from SEK 6.5 billion at IPO in June 2024, driven by acquisitions and project completions.

• Entered 2026 with strong momentum, maintaining growth in size and profitability.

• Strategic exit from Norway in April to focus on Sweden, Denmark, and Finland, including acquisition of ICA Maxi property in Arvika.

• EPS doubled year-over-year compared to Q1 2025.

• Strategic focus on grocery and discount retail, with 45% of portfolio now in grocery retail.

Financial highlights

• Rental income grew 33% year-over-year to SEK 151 million, driven by acquisitions, completed projects, and CPI-adjusted leases.

• Net operating income increased 41% to SEK 132 million compared to Q1 2025.

• Profit from property management rose 52% year-over-year to SEK 69 million.

• Net profit for Q1 2026 reached SEK 162 million, doubling from SEK 81 million in Q1 2025.

• Surplus ratio up to 88% (83% Q1 2025), with economic occupancy rate stable at 98.6%.

Outlook and guidance

• Targeting property portfolio value of SEK 16 billion by end of 2028.

• On track to activate all building rights and generate income before end of 2028.

• Focus on strategic acquisitions in Sweden and Finland, project development in Denmark and Sweden, and increasing grocery retail share.

• Planned annual investment in development projects of at least 10% of property value, with SEK 1 billion targeted for 2026.

• Ongoing projects total 38,272 sqm with an average yield on cost of 7.5%.