Klarabo Sverige Ab Class B · OMXSTO:KLARA_B
Klarabo Sverige Ab Class B — Q4 2025 Earnings Presentation
17 slides from Klarabo Sverige Ab Class B's earnings presentation, Feb 13, 2026
Slide 1: Welcome to the presentation - Year-end report Jan-Dec 2025
Welcome to the presentation - Year-end report Jan-Dec 2025 Andreas Morfiadakis, CEO Magnus Nordholm, CFO
Slide 2: Key highlights
Key highlights
Slide 3: Q4 and year at a glance
Q4 and year at a glance Increased our cluster presence from 44 percent to 55 percent Portfolio optimization Several transactions during year and after year-end Income from property management Quarter showed improvement of 11.7 percent adjusted for non-recurring positive effects Income from property
Slide 4: Stable operating margins and rising property values
Revenue Revenue Stable operating margins Q2 revenue +15% YoY Revenue +14% FY. Like-for-like +X%, mainly rent SEK 64m increase, ~10% of the 14%, and rising property values increases and renovations from transactions. Costs Costs 2025 2024 2025 2024 Costs +17% FY, mainly from transactions SE
Slide 5: Stable balance sheet
Stable balance sheet Property value of SEK 10.6bn Property value, including properties held SEK m 2025 31 Dec 2024 31 Dec for sale, of SEK 10.6bn at 4.95% yield Intangible assets 0.1 0.2 (slight yield increase). Investment properties 9,587.2 9,243.9 Change in property value +SEK 1,357m Property, p
Slide 6: Current earnings capacity
Scope Does not take into consideration the Current earnings capacity Sveafastigheter and Episurf transactions or the completion of share buy back. Rental revenue – SEK 17.9m SEK m 2026-01-01 2025-10-01 ~60 percent of rent for housing units 2026 Rental revenue 753.3 735.4 set resulting in an annu
Slide 7: Financing at 31 December 2025
Financing at 31 December 2025 45% 35% 40% 30% 35% 25% 30% 25% 20% 20% 15% 15% 10% 10% 5% 5% 0% 0% <3 months >=3m <3 yr >=3 yr <5 yr >=5 yr <7 yr >=7 yr <1 yr >=1 yr >=2 yr >=3 yr >=4 yr >5 yr <2 yr <3 yr <4 yr <5 yr Interest rate and hedging Debt maturity and refinancing Average interest rate matu
Slide 8: Changes to the debt portfolio after the period
Changes to the debt portfolio after the period Key refinancing actions Bank debt of SEK 529m repaid in connection with the Sveafastigheter Improved financial metrics transaction and SEK 510m of new bank debt raised. Maturity extended to new three-year terms and margins reduced across refinancing
Slide 9: Continued value growth
2019-2026 LTM Continued value growth SEK 44m Accumulated rental increase (annual basis) SEK 8.8m Accumulated rental increase (annual basis) from refurbishments from refurbishments / / Percentage 4.0% 4.7% points 142,8 Average historical Average historical weighted yield weighted yield 140.0 = = SEK
Slide 10: Portfolio optimisation to further support KlaraBo's active value creation strategy
Portfolio optimisation to further support KlaraBo’s active value creation strategy
Slide 11: Acquisition – Rikshem
Acquisition – Rikshem Portfolio overview Large, consolidated portfolio in Helsingborg aligned with KlaraBo’s business model, adding a new cluster location with 63 percent potential for value-creating renovations Transaction and financing Acquisition price 15.000 per square meter (SEK/sqm) Fina
Slide 12: Exchange Transaction – Sveafastigheter
Exchange Transaction – Sveafastigheter Transaction overview Net acquisition of properties of SEK 72m through a SEK 1.103m acquisition and a SEK 1.031m divestment, closed on 31 January 2026. Portfolio repositioning Increased exposure to core markets with solid refurbishment potential, including c
Slide 13: Divestment – Episurf
Divestment – Episurf Non-strategic property portfolio divested slightly (~2 percent) below book value (SEK 897m vs SEK 915m) 600 apartments in Bollnäs, Shopping mall in Västervik, and 2 social infrastructure properties in Trelleborg Conditional transaction Conditional upon the buyer securing
Slide 14: Market value by cluster location
Annual housing need per Market value, SEK million Q4 2024 2026* 1,000 inhabitants by FA region Östersund 895 1 194 0 0,01-0,99 Visby 1 315 1 381 Östersund 1,00-1,99 Helsingborg 192 1 269 2,00-2,99 Trelleborg 1 643 1 948 3,00-3,99 Locations >70 thousand 4,00-4,99 1 423 1 395 inhabitants 5,00-8,10 Tot
Slide 15: Current trading and Summary
Current trading and Summary
Slide 16: Significant move in portfolio attractiveness
Significant move in portfolio attractiveness High activity – 49 apartments refurbished during Q4 and 188 full year 2025 with an average return of ~8%. Significant portfolio optimization transformation. Stable occupancy – strong portfolio structure and geographic focus keeps vacancy risk low.
Slide 17: Andreas Morfiadakis, CEO Magnus Nordholm, CFO
Andreas Morfiadakis, CEO Magnus Nordholm, CFO 17