Sweden's Genova Property Q1 rental income rises 7%, net income up 27%

Genova Property AB

06/05/2026 07:54

Overview

Swedish property firm's Q1 rental income rose 7% yr/yr, net income up 27%

Income from property management fell 46%, mainly due to prior period's higher JV gains

Company bought back shares worth SEK 22 mln, completed partial Viby project divestment

Outlook

Genova expects liquidity to strengthen as zoning plans likely approved in H2 2026

Company sees stable financial market and sustained activity in property sector

Genova says new sustainability targets aim to reduce costs and make portfolio more resilient

Result Drivers

VIBY PROJECT DIVESTMENT - Partial sale of Viby urban development project freed up liquidity, per company

UTILITY COSTS - Higher electricity and heating costs reduced net operating income in the comparable portfolio

LOWER JV GAINS - Income from property management fell mainly due to higher positive changes in value of joint ventures and associated companies in the comparative period

Company press release: ID:nWkr14QrVx

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Rental Income
SEK 143 mln
Q1 Net Income
SEK 89 mln
Q1 Operating Income
Beat
SEK 99 mln
SEK 82.50 mln (2 Analysts)
Q1 Income From Property Management
SEK 28 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the real estate rental, development & operations peer group is "buy"

Wall Street's median 12-month price target for Genova Property Group AB is SEK53.00, about 44.8% above its May 5 closing price of SEK36.60

The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 20 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)