Dios Fastigheter AB

Latest Results (30.09.2026):

Dios Fastigheter AB — Q1 2026: Rental income rose slightly to SEK 663m (SEK 661m; +0.3%). Operating surplus was SEK 425m (427; -0.5%) with a surplus ratio of 65% and an economic occupancy rate of 90%. Profit after tax improved to SEK 248m (162), giving earnings per share SEK 1.77 (1.14). Investments in the quarter totalled SEK 271m, net letting was SEK 15m, and the company repurchased 2,869,500 treasury shares for about SEK 200m. Key balance-sheet metrics: interest‑bearing debt SEK 17,401m, loan‑to‑value 53.2%, equity SEK 11,893m and equity ratio 35.8%.

Income and operating surplus

Q1 2026 rental income SEK 663m (+0.3% YoY); operating surplus SEK 425m (-0.5% YoY). Contracted rental income growth for comparable properties was roughly flat; pass‑through/service income was lower (SEK 52m vs 76m).

Profit and EPS

Profit before tax SEK 319m (226) driven by realized and unrealized valuation effects and positive change in derivatives; profit after tax SEK 248m (162). EPS rose to SEK 1.77 from SEK 1.14.

Leasing and occupancy

Net letting SEK 15m (1). Company signed 125 new leases in Q1 (about two per working day). Notable letting: 2,600 sqm to the National Government Service Centre in Gävle; economic occupancy steady at 90%.

Investments and projects

Invested SEK 271m in Q1 (SEK 191m in management portfolio, SEK 80m in project properties). Example: Flanör project in Gävle (total Diös investment ~SEK 41m in current scope) targeted yield >9%.

Transactions and capital allocation

Divestment of a correctional facility project for SEK 117.5m (possession expected Q3 2026). After the reporting period, sale of seven properties for SEK 290m (possession expected Q2 2026). Share buybacks: 2,869,500 shares repurchased (~SEK 200m); dividends were also distributed per resolutions.

Balance sheet and financing

Interest‑bearing liabilities SEK 17,401m; average borrowing cost ~4.1% (including derivatives and commitments); average fixed‑rate term 2.3 years, average loan maturity 3.0 years. Loan‑to‑value 53.2% (secured LTV 37.6%); equity SEK 11,893m; equity ratio 35.8%.

Liquidity and derivatives

Cash at quarter-end SEK 0m (SEK 29m a year earlier) and drawn overdraft SEK 85m; liquidity reserve (less outstanding commercial paper) ~SEK 2,080m. Derivative portfolio nominally hedges SEK 10,150m with market value ~SEK -126m; Q1 saw new derivative subscriptions of SEK 500m to increase hedging.

Sustainability and operational notes

Climate‑adjusted energy consumption for comparable properties fell 1.2% (annualized better than 3% target). Diös emphasizes central‑city focus, active asset management and ongoing green/sustainability‑linked financing (≈20% green financing share reported).