Trianon (TRIAN) Q2 2026 earnings summary

Executive summary

• Achieved record-high profit from property management in Q2 2026, with strong growth in rental income, operating surplus, and management result year-over-year.

• Continued positive development in rental income, operating surplus, and net profit both quarterly and year-over-year.

• Continued portfolio expansion through acquisitions and new long-term lease agreements, supporting regional growth strategy.

• Strengthened financial position with successful refinancing and increased share of sustainable financing.

Financial highlights

• Q2 2026 rental income: SEK 208.4M (+9% year-over-year); operating surplus: SEK 145M (+18%).

• Profit from property management (Q2): SEK 67M (+18%); net profit: SEK 31.9M.

• H1 2026 rental income: SEK 413.4M (+4%); operating surplus: SEK 273.4M (+5%).

• H1 2026 profit from property management: SEK 117.1M (+15%); net profit: SEK 107M.

• Earnings per share Q2: SEK 0.36 (+18%); H1: SEK 0.64 (+20%).

Outlook and guidance

• Earnings capacity per share increased by 14% year-over-year.

• Strategic focus remains on growing management result per share, improving returns, and maintaining balanced risk.

• Vacancy rates decreased and leasing activity remained strong.

• Malmö region continues to show strong demand for housing, supported by population growth and low new construction.

• Financial targets include >12% annual growth in profit from property management per share and >10% return on equity.