Stenhus Fastigheter I Norden Ab · OMXSTO:SFAST
Stenhus Fastigheter I Norden Ab — Q3 2025 Earnings Presentation
21 slides from Stenhus Fastigheter I Norden Ab's earnings presentation, Nov 20, 2025
Slide 1: Q3 2025 Presentation
STENHUS Fastigheter Q3 2025 Presentation
Slide 2: Table of contents
Table of contents 1. Introduction to Stenhus Fastigheter 2. Property portfolio 3. Financials Today’s presenters Elias Georgiadis Mikael Nicander Tomas Georgiadis CEO & Board member Deputy CEO CFO 2 Q3 2025 Presentation
Slide 3: 1. Introduction to Stenhus Fastigheter
1. Introduction to Stenhus Fastigheter
Slide 4: Summary of the report
Summary of the report Profit from property management (SEKm) / Property management earnings per share (SEK)* Key takeaways Q3 Profit from property management (SEKm) Property management earnings per share (SEK) • Record financial performance: • Rental income amounted to SEK 258 (241) m. 120 0,32 Deli
Slide 5: Stenhus Fastigheter in brief
Stenhus Fastigheter in brief Key ratios 2025-09-30 Geographical footprint, % of portfolio value Company overview Market value per region Clear focus on sustainable growth, Stockholm 33% MSEK 1 085 MSEK 465 West 35% operating cash flows, and lease Mälardalen 23% 13.9 durations. Rental income1 Earnin
Slide 6: Historical development
Historical development Historical development of Stenhus Fastigheter Stenhus Fastigheter’s targets Property value Q3 2022–Q3 2025 2025-09-30 14,2 14,3 13,9 13,7 13,9 13,3 13,6 13,4 13,5 13,4 13,0 13,0 13,2 12% Inc Mgmt. result over a business cycle 12% ROE over a business cycle LTV < 60% currently 5
Slide 7: Long-term strategy supported by a value-creating business model
Long-term strategy supported by a value-creating business model Business model and strategy Light industrial/ logistics – Long-term strategy is to manage all properties and projects in-house to enable maximum customer knowledge and customer satisfaction and thus deliver in line with the Company’s bu
Slide 8: Sustainability efforts
Sustainability efforts Sustainability efforts are based on the UN Sustainable Development Goals STENHUS VALUE CHAIN ION FOR EAT FU Environmental efficiency Business ethics CR – Renewable energy – Anti-corruption UE TU LE VAL RE – Energy efficiency – Code of Conduct G E N ERA – Sustainability certifi
Slide 9: Selected projects
Selected projects Stenhus continuously work to identify development opportunities and unused building rights within the stock in order to create additional value and facilitate long-term contractual relationships Svanholmen 1, Stockholm Librobäck 18:6 mfl, Uppsala Vattumannen 3, Norrtälje City: Segm
Slide 10: 2. The property portfolio
2. The property portfolio
Slide 11: Critical mass of high quality assets in strong property markets
Critical mass of high quality assets in strong property markets 140 properties with a total market value of SEK 13 851 m Rental income Market value per segment Rental income per segment Light industrial/logistics 56% Light industrial/logistics 59% Grocery 15% Grocery 17% Public 20% 13.9 Public 16% b
Slide 12: Diversified tenants and solid WAULT of 6.3 years
Diversified tenants and solid WAULT of 6.3 years Top 15 largest tenants, rental income1 , accounted for 43.6% of rental income Lease maturity structure by rental income1 Number of Wault, Annual rent Tenant Area, sq.m contracts2 year Bilia AB 43 791 13 8.4 Number of Share of Maturity year Area, sq.m
Slide 13: Selected properties
Selected properties Tyresö Forellen 19 Stockholm Ivalo 1 Botkyrka Samariten 1 Norrtälje Vattumannen 2,3 &4 Västerås Finnslätten 6 Eskilstuna Skiftinge 1:5 & 1:6 Tibro Hammaren 1 Skövde Personbilen 1 Kungsbacka Hede 3:122 13 Q3 2025 Presentation
Slide 14: Selected projects
Selected projects Stenhus continuously work to identify development opportunities and unused building rights within the stock in order to create additional value and facilitate long-term contractual relationships Skiftinge 1:5 & 1:6 Köpmannen 7 City: Eskilstuna Segment: Non food retail/grocery store
Slide 15: 3. Financials
3. Financials
Slide 16: Income statement
Income statement Consolidated income statement Rental income and EBITDA, reported (MSEK) Rolling Rental income, reported 2025 2024 2025 2024 12 months 2024 EBITDA, reported July- July- Jan- Jan- Oct 2024- Jan- (SEKt) Sept Sept Sept Sept Sept 2025 Dec 268 265 268 258 257 258 Rental income 257 994 241
Slide 17: Current earning capacity and Financial targets
Current earning capacity and Financial targets Earnings capacity long term as of Q3 2025 Financial targets Target Policy Outcome Loan-to-value < 60% 57.8% 1 085 -59 1 026 -207 Net loan-to-value1 < 55% 53.3% Equity ratio > 35% 40.5% 819 -62 Interest coverage ratio > 2.25x 2.15x 12 -304 Average durati
Slide 18: Balance sheet
Balance sheet Assets Equity and Liabilities (SEKt) 2025-09-30 2024-09-30 2024-12-31 (SEKt) 2025-09-30 2024-09-30 2024-12-31 Investment properties 13 850 835 13 191 871 13 395 030 Share capital 371 779 371 779 371 779 Plot and right of use assets 200 041 198 868 198 498 Other capital contributions 4
Slide 19: Debt financing and capital structure at a glance
Debt financing and capital structure at a glance Net Loan to Value Debt maturity structure (MSEK) ¹ Gross LTV Net LTV Target of Net LTV below 55% 57% 57% 57% 57% 58% 56% 56% 56% 56% 56% 55% 55% 55% 55% 55% 55% 53% 53% 53% 3 878 53% 53% 54% 53% 54% 53% 53% 2 659 48% 33% 784 754 10% 9% Sept 30 2022 De
Slide 20: Shareholders and Calendar
Shareholders and Calendar Largest shareholder 2025-09-30 Calendar Number of Shareholder shares Percent Sterner Stenhus Holding AB 90 698 818 24.4 Interim report Fastighets AB Balder 74 601 354 20.1 Year-end Report Annual Report Investment AB Öresund 33 016 084 8.9 Q1 February 19 April 23 Länsförsäkr
Slide 21: STENHUS Fastigheter
STENHUS Fastigheter
Stenhus Fastigheter i Norden — Q3 2025 Earnings Presentation on 6ix