Nyfosa Interim Report January–March 2026
Idag, 19:40
JANUARY–MARCH 2026
- Income amounted to SEK 876 million (918).
- Net operating income amounted to SEK 553 million (600).
- Profit from property management amounted to SEK 319 million (319). Profit from property management per share amounted to SEK 1.58 (1.48), up 7%.
- Changes in value of properties amounted to SEK -85 million (-133).
- Changes in value of financial instruments amounted to SEK 147 million (37).
- Profit for the quarter amounted to SEK 275 million (102). Earnings per share amounted to SEK 1.36 (0.44) after dilution.
- Operating cash flow amounted to SEK 233 million (160). Operating cash flow per share amounted to SEK 1.16 (0.77), up 51%.
- During the quarter, the company repurchased 15,972,096 of its own shares, corresponding to 7.7% of outstanding shares for SEK 1,100 million. A further 148,878 shares were repurchased in April, after the end of the period.
UNCHANGED FORECAST
For 2026, profit from property management based on the current property portfolio, announced acquisitions and divestments and current exchange rates is forecast to amount to SEK 1,500 million. The forecast was presented in the 2025 year-end report.
SIGNIFICANT EVENTS DURING AND AFTER THE QUARTER
- In January, Board member Marie Bucht Toresäter resigned from the Board of Directors at her own request, citing personal reasons.
- In February, it was announced that CFO Ann-Sofie Lindroth has decided to leave her position at the company. She will remain in her role until July 2026.
- In February, the Board of Directors exercised its authorisation from the 2025 Annual General Meeting regarding the company’s repurchase of its own shares. In total, 16,120,974 shares were repurchased during February, March and April.
- In March, the company entered into an agreement to acquire a property in Porsgrunn, Norway, for SEK 387 million, with closing in April, and entered into an agreement to divest properties in Örebro and Malmö for SEK 90 million.
- In April, senior unsecured green bonds were issued in an amount of SEK 500 million with a floating interest rate of 3-month STIBOR + 250 basis points, maturing in October 2029.
COMMENTS FROM THE CEO
Nyfosa reports an active first quarter of 2026 in which a large number of signed new leases contributed to positive net leasing of SEK 25 million. At the same time, transactions totalling SEK 455 million were signed as part of the planned portfolio rotation to increase efficiency and reduce complexity in the portfolio. During the quarter, Nyfosa repurchased 7.7% of the company’s outstanding shares for SEK 1,100 million. Profit from property management per share amounted to SEK 1.58, an increase of 7% compared with the first quarter of 2025.
Positive net leasing in all three markets
In the company’s leasing operations, the number of completed deals increased during the quarter, not least as several long-running dialogues resulted in new leases. Signed leases corresponded to SEK 169 million in annual rental income and resulted in positive net leasing of SEK 25 million. All three markets reported positive net leasing.
The office segment showed strong development and contributed positively to net leasing in all markets. Leases for more than 15,000 sqm of office space across 70 tenants were signed during the quarter. Offices accounted for SEK 13 million of total net leasing, with Finland accounting for a majority share of the positive contribution.
Outcome for an individual quarter should be interpreted with a degree of caution, particularly in an external environment characterised by both structural change and elevated geopolitical uncertainty. At the same time, we are seeing good activity in our leasing efforts after the end of the quarter, which supports our view of a gradual stabilisation of the company’s occupancy rate. We continue to strengthen our property management and leasing organisation through several new recruitments, and after the end of the quarter we also established a new regional office in Turku.
Stability in property management supports increased investments
During the quarter, Nyfosa repurchased its own shares for a total of SEK 1,100 million. The repurchases correspond to an indirect acquisition of SEK 3.6 billion of Nyfosa’s total property portfolio, including our share in Söderport. The repurchases have been carried out on the back of a strong financial position, solid liquidity and stable performance in our property management business, providing a foundation for the company’s long-term value creation. In April, a bond issue of SEK 500 million was also completed, creating additional capacity for new investments and increasing the company’s financial flexibility.
In parallel, efforts to optimise the property portfolio continue. During the quarter a fully leased, high-quality office property was acquired in Porsgrunn, Norway for SEK 387 million, with annual contracted rental income of SEK 32 million. In the same period, three properties in Malmö and Örebro were divested for SEK 90 million, with total annual contracted rental income of SEK 9 million. The divestments generated a marginally positive impact on earnings and contributed to reducing future investment needs, strengthening the return profile and freeing up capital for new investments.
Focus on executing the established business plan
Nyfosa has a clear focus in 2026 on our three prioritized areas – strengthen operational efficiency, reducing complexity in the portfolio and optimising the company’s capital allocation – all with the aim of creating conditions for profitable and sustainable growth.
The property transactions and leasing activities at the start of the year have contributed to the execution of the business plan and provided a solid start to the year. With continued high activity across all parts of the business, we carry positive momentum into the second quarter of the year.
Carl-Johan Hugner, CEO
For more information, please contact:
Carl-Johan Hugner, CEO
Tel: +4670-772 58 26. E-mail: cjh@nyfosa.se
Ann-Sofie Lindroth, CFO
Tel: +46-70-574 59 25. E-mail: ann-sofie.lindroth@nyfosa.se
About Nyfosa
Nyfosa is an active commercial property company operating in markets characterized by robust growth potential and strong regional appeal. With a regional presence, efficient decision-making structures and a dynamic transactions platform, we create long-term value for our tenants and investors. As of March 31, 2026, Nyfosa's property value amounted to SEK 39 billion. Nyfosa's shares are listed on Nasdaq Stockholm Large Cap. Learn more at www.nyfosa.se.
This information is information that Nyfosa is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-05-04 19:40 CEST.
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Nyfosa Interim Report January–March 2026
Idag, 19:40
JANUARY–MARCH 2026
- Income amounted to SEK 876 million (918).
- Net operating income amounted to SEK 553 million (600).
- Profit from property management amounted to SEK 319 million (319). Profit from property management per share amounted to SEK 1.58 (1.48), up 7%.
- Changes in value of properties amounted to SEK -85 million (-133).
- Changes in value of financial instruments amounted to SEK 147 million (37).
- Profit for the quarter amounted to SEK 275 million (102). Earnings per share amounted to SEK 1.36 (0.44) after dilution.
- Operating cash flow amounted to SEK 233 million (160). Operating cash flow per share amounted to SEK 1.16 (0.77), up 51%.
- During the quarter, the company repurchased 15,972,096 of its own shares, corresponding to 7.7% of outstanding shares for SEK 1,100 million. A further 148,878 shares were repurchased in April, after the end of the period.
UNCHANGED FORECAST
For 2026, profit from property management based on the current property portfolio, announced acquisitions and divestments and current exchange rates is forecast to amount to SEK 1,500 million. The forecast was presented in the 2025 year-end report.
SIGNIFICANT EVENTS DURING AND AFTER THE QUARTER
- In January, Board member Marie Bucht Toresäter resigned from the Board of Directors at her own request, citing personal reasons.
- In February, it was announced that CFO Ann-Sofie Lindroth has decided to leave her position at the company. She will remain in her role until July 2026.
- In February, the Board of Directors exercised its authorisation from the 2025 Annual General Meeting regarding the company’s repurchase of its own shares. In total, 16,120,974 shares were repurchased during February, March and April.
- In March, the company entered into an agreement to acquire a property in Porsgrunn, Norway, for SEK 387 million, with closing in April, and entered into an agreement to divest properties in Örebro and Malmö for SEK 90 million.
- In April, senior unsecured green bonds were issued in an amount of SEK 500 million with a floating interest rate of 3-month STIBOR + 250 basis points, maturing in October 2029.
COMMENTS FROM THE CEO
Nyfosa reports an active first quarter of 2026 in which a large number of signed new leases contributed to positive net leasing of SEK 25 million. At the same time, transactions totalling SEK 455 million were signed as part of the planned portfolio rotation to increase efficiency and reduce complexity in the portfolio. During the quarter, Nyfosa repurchased 7.7% of the company’s outstanding shares for SEK 1,100 million. Profit from property management per share amounted to SEK 1.58, an increase of 7% compared with the first quarter of 2025.
Positive net leasing in all three markets
In the company’s leasing operations, the number of completed deals increased during the quarter, not least as several long-running dialogues resulted in new leases. Signed leases corresponded to SEK 169 million in annual rental income and resulted in positive net leasing of SEK 25 million. All three markets reported positive net leasing.
The office segment showed strong development and contributed positively to net leasing in all markets. Leases for more than 15,000 sqm of office space across 70 tenants were signed during the quarter. Offices accounted for SEK 13 million of total net leasing, with Finland accounting for a majority share of the positive contribution.
Outcome for an individual quarter should be interpreted with a degree of caution, particularly in an external environment characterised by both structural change and elevated geopolitical uncertainty. At the same time, we are seeing good activity in our leasing efforts after the end of the quarter, which supports our view of a gradual stabilisation of the company’s occupancy rate. We continue to strengthen our property management and leasing organisation through several new recruitments, and after the end of the quarter we also established a new regional office in Turku.
Stability in property management supports increased investments
During the quarter, Nyfosa repurchased its own shares for a total of SEK 1,100 million. The repurchases correspond to an indirect acquisition of SEK 3.6 billion of Nyfosa’s total property portfolio, including our share in Söderport. The repurchases have been carried out on the back of a strong financial position, solid liquidity and stable performance in our property management business, providing a foundation for the company’s long-term value creation. In April, a bond issue of SEK 500 million was also completed, creating additional capacity for new investments and increasing the company’s financial flexibility.
In parallel, efforts to optimise the property portfolio continue. During the quarter a fully leased, high-quality office property was acquired in Porsgrunn, Norway for SEK 387 million, with annual contracted rental income of SEK 32 million. In the same period, three properties in Malmö and Örebro were divested for SEK 90 million, with total annual contracted rental income of SEK 9 million. The divestments generated a marginally positive impact on earnings and contributed to reducing future investment needs, strengthening the return profile and freeing up capital for new investments.
Focus on executing the established business plan
Nyfosa has a clear focus in 2026 on our three prioritized areas – strengthen operational efficiency, reducing complexity in the portfolio and optimising the company’s capital allocation – all with the aim of creating conditions for profitable and sustainable growth.
The property transactions and leasing activities at the start of the year have contributed to the execution of the business plan and provided a solid start to the year. With continued high activity across all parts of the business, we carry positive momentum into the second quarter of the year.
Carl-Johan Hugner, CEO
For more information, please contact:
Carl-Johan Hugner, CEO
Tel: +4670-772 58 26. E-mail: cjh@nyfosa.se
Ann-Sofie Lindroth, CFO
Tel: +46-70-574 59 25. E-mail: ann-sofie.lindroth@nyfosa.se
About Nyfosa
Nyfosa is an active commercial property company operating in markets characterized by robust growth potential and strong regional appeal. With a regional presence, efficient decision-making structures and a dynamic transactions platform, we create long-term value for our tenants and investors. As of March 31, 2026, Nyfosa's property value amounted to SEK 39 billion. Nyfosa's shares are listed on Nasdaq Stockholm Large Cap. Learn more at www.nyfosa.se.
This information is information that Nyfosa is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-05-04 19:40 CEST.
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