Sweden's Wallenstam H1 profit rises on property value gains

Wallenstam AB

06/07/2026 12:11

Overview
Sweden property company's H1 rental income was flat yr/yr, profit after tax increased
Company maintained 97% occupancy and 91% commercial lease renewal rate
Investment in new construction and reconstruction rose to SEK 1,388 mln from SEK 1,052 mln

Outlook
Company says occupancy rate remains high at 97% and commercial lease renewals at 91%
Wallenstam says financial position remains strong and key performance indicators are stable
Company expects continued development of properties and projects during rest of yr

Result Drivers
HIGH OCCUPANCY AND TENANT RETENTION - Co said stable results were supported by 97% occupancy rate and 91% commercial lease renewal rate, per CEO Hans Wallenstam
PROPERTY VALUE GAINS - Positive changes in value of investment properties contributed to profit
INCREASED DEVELOPMENT INVESTMENT - Investment in new construction and reconstruction rose to SEK 1,388 mln from SEK 1,052 mln

Company press release: ID:nWkr56GQXV

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Rental Income
 
SEK 1.56 bln
 
H1 Profit after tax
 
SEK 652 mln
 
H1 Income From Property Management
 
SEK 631 mln
 
H1 Net Asset Value Per Share
 
SEK 63.10
 
H1 Pretax Profit
 
SEK 781 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and 3 "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 Wallenstam AB is SEK42.00, about 4.5% above its July 3 closing price of SEK40.18
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 21 three months ago

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(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.)