Sweden's Neobo Q2 rental income flat, profit falls on divestments and higher costs

Neobo Fastigheter AB (publ)

08/07/2026 06:13

Overview
Sweden residential property manager's Q2 rental income was flat yr/yr at SEK 236 mln
Q2 net operating income and profit from property management declined due to divestments, higher costs
Company repurchased 645,000 shares in Q2 and divested two properties above book value

Outlook
Company expects positive growth in net operating income going forward
Neobo plans to invest capital from divestments for higher returns to boost net asset value
Company says Swedish economy is recovering, with improved household purchasing power

Result Drivers
DIVESTMENTS - Decline in net operating income and profit from property management was mainly due to the absence of income from divested properties
COST INCREASES - Higher costs in the like-for-like portfolio contributed to lower net operating income and profit from property management
LIKE-FOR-LIKE RENTAL GROWTH - Rental income in the like-for-like portfolio increased 3.8%, supported by completed renovations and lower vacancy rates

Company press release: ID:nMFN1QywN9

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Rental Income
 
SEK 236 mln
 
Q2 Operating Income
 
SEK 142 mln
 
Q2 Profit From Property Management
 
SEK 61 mln

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.)