Real Fastigheter (REAL) Q1 2026 earnings summary

Executive summary

• Q1 2026 showed a 42% increase in management profit to 7,951 Tkr compared to Q1 2025, driven by lower interest costs and reduced central administration expenses.

• Net profit after tax rose to 12,681 Tkr (4,700 Tkr in Q1 2025), positively impacted by a property sale in Karlskrona.

• The balance sheet was strengthened through loan amortization and a reduction in average interest rate and loan-to-value ratio.

• Several new lease agreements were signed, and the company maintains a close relationship with anchor tenants.

Financial highlights

• Revenue for Q1 2026 was 45,419 Tkr, down from 46,200 Tkr in Q1 2025 due to divested properties.

• Operating net was 21,491 Tkr (22,900 Tkr in Q1 2025), with an operating margin of 47.3% (49.5%).

• Net profit per share was 0.43 SEK (0.16 SEK in Q1 2025).

• Property portfolio value at quarter-end was 1,150.3 Mkr (1,397.6 Mkr in Q1 2025).

• Cash flow from operations was 31,105 Tkr (-12,200 Tkr in Q1 2025).

Outlook and guidance

• Management expresses confidence for the remainder of 2026, citing a stronger financial position and improved market conditions.

• Continued focus on cost efficiency and active property management is planned.