Stenhus Fastigheter (SFAST) Q2 2025 earnings summary

Executive summary

• Management income increased by 19% to SEK 185 million compared to SEK 156 million for the same period last year.

• Net profit after tax was SEK 141 million, a significant improvement from a loss of SEK 40 million year-over-year.

• The property portfolio comprised 134 properties with a market value of SEK 13,356 million and a lettable area of 884,335 sqm.

• Economic occupancy rate was 92.4% with an average lease duration of 6.1 years.

Financial highlights

• Rental income for the period was SEK 507 million, down from SEK 526 million year-over-year.

• Operating surplus (driftnetto) was SEK 381.6 million, compared to SEK 398.4 million last year.

• Cash flow from operating activities was SEK 161 million, up from SEK 125 million.

• Net loan-to-value (Net LTV) was 52.5%, and equity ratio was 41.8%.

• Earnings per share after dilution were SEK 0.38, compared to SEK -0.10 last year.

Outlook and guidance

• The company targets a 12% annual increase in management income over a business cycle.

• Long-term financial goals include a return on equity of 12%, equity ratio above 35%, and Net LTV below 55%.

• Dividend policy aims for at least 30% of management income to be distributed.