Trianon (TRIAN) Stockholm Corporate Finance Conference 2025 summary

Key presentations and announcements

• Highlighted strong population growth and demand in Malmö and the Öresund region, with Malmö’s population growing 1% annually and a young demographic profile.

• Reported a property portfolio of 123 properties, 440,000 sqm lettable area, and 4,600 apartments, with a property value of SEK 12.3 billion and a loan-to-value ratio of 54.2%.

• Achieved 6% growth in rental income to SEK 399 million and a 21% increase in earnings per share to SEK 0.59 for H1 2025.

• Completed a major transaction with a principal shareholder, improving key financial ratios, and sold a residential property in Malmö at book value.

• Set new financial targets for 2025–2030, including a management result per share growth above 12% and a return on equity above 10%.

Financial and operational performance

• Net letting reached SEK 7 million in H1 2025, with reduced average interest costs by 0.5%.

• Management result per share increased by 24% year-on-year, with a 14% rise in management profit.

• Maintained a high interest coverage ratio of 1.97x and a capital structure with 80% hedging and an average interest maturity of 3.6 years.

• Residential segment saw average returns rise from 3.6% to 4.5% and average interest rates from 1.9% to 3.4% between 2021 and 2025.

• Portfolio split: 76% commercial/community properties and 24% residential, with a total rental value of SEK 808 million.

Strategic initiatives and sustainability

• Advanced urban development projects in Malmö, including Sorgenfri and Limhamns silos, totaling 200,000 sqm BTA.

• Sustainability goals for 2030 include halving CO2 emissions per sqm, keeping energy use below 100 kWh/sqm, and achieving 100% sustainable financing.

• Service index and employee satisfaction targets set for 2030, with current progress showing improved tenant satisfaction and reduced energy consumption.

• Value creation in residential segment driven by rent increases above inflation, renovations, and energy investments.

• Growth strategy focuses on property development, opportunistic transactions, and real rent increases.